HOW MUCH DOES A PANDA EXPRESS FRANCHISE COST?
Do you know how much franchising a Panda Express cost? When you think about the one of the best American-Asian cuisine across the United States, Panda Express will surely come to mind. They offer delicious meals that are as well fresh. They can also be considered as the most dominant chain of Chinese food restaurants. The Panda Express brand is so big, no wonder there have been a lot of searches on how much is a Panda Express franchise? They were one of the 1st major restaurants to use the computer-based POS system as far back as in the year 1983.
INFORMATION ABOUT THE PANDA EXPRESS RESTAURANT
The company was established in the year 1973 and as at then, they were only known as the Panda Inn. In a very short time, information spread about their quality service delivery and delicious meals they provided. The company grew so fast and in the year 1983, they changed their name into Panda Express. They currently have close to 2000 outlets in more than 45 locations across the Unites States of America.
WHAT IS THE COST OF OWING A PANDA EXPRESS FRANCHISE?
For your information, it will not be a smooth ride getting a Franchise with Panda Express. The information around is that they only offer their outlets to their previous employees. What this means that if you would want to own a Panda Express Franchise, then you will have to work with them first to have a first-hand knowledge about their mode of operation at the company. So what will be the cost of owning a Panda Express Franchise should you be successful in getting one with them?
- The Initial License Fee; As part of the Panda Express Franchise Startup cost, you will be expected to make an initial license fee of about $25,000
- Lease on Premises: roughly, this will set you back a whopping $10,000 to $400,000 depending on the type of lease you choose, the location of your outlet, the size, age and condition of the building, lease arrangement and so many other factors that could differ from location to location. For instance, if you are to get a rent around a major airport, you will be expected to pay more than in just an ordinary residential area.
- Furniture and office supplies: You will also need to put into consideration the equipments that you will require to run your outlet. These include steam counters, refrigerators, grills and a whole lot more. Be informed that Panda Express will recommend the brands of equipments you will be getting.
- Initial Inventory: These will as well be purchased from recommended suppliers as stated by Panda Express. Your initial inventory purchases will comprise of the following: food products, seasonings, flavouring, sauces, paper products, beverages, cleaning materials and other items that will be needed in the operation of a restaurant
- Computer Hardware and Software: Part of the cost of owning a Panda Express franchise will be the purchase of Computer Hardwares and softwares. You will be expending an estimate of about $4000 to $17,000 on computer hardwares and softwares.
- Training Expenses: When you make an initial License fee to Panda Express, this covers the initial training program that will be offered to you and your staff at a unit location. Every other cost associated with training for you and your staff attending the training program, which may include travels, feeding and every other additional expense will be borne by you.
- Architectural Fees: You should be looking into somewhat close to $17000 to $35,000 for the architectural and design fee of your selected location
- Total cost: In all, you should be looking at close to $380,000 to $1,600,000 as the start-up cost of a Panda Express Franchise
DOES PANDA EXPRESS OWN A FRANCHISE?
There have been a lot of enquiries about how to own a Panda Express Franchise. But the most important question to ask is does Panda Express own a Franchise? The answer to that is capital No. They do not, at the moment, offer any form of franchise since every single store that they have across the country is corporately operated by the Panda Express Company itself.
HOW PROFITABLE IS PANDA EXPRESS FRANCHISE?
When you compare Panda Express with their rivals in the Chinese Cuisine chain of business, they don’t make as much profit as others. This is simply explained by the owners that Panda concentrates more on creating the best foods and then giving its employees the best opportunity to grow through capacity building. Panda Express profit margin is just 10% as compared to the average 25% of their competitors.
WHAT QUALIFICATION DO YOU NEED TO OWN A FRANCHISE?
If you have finally decided to own a Panda Express Franchise. The only one qualification that Panda Express requires of you as a franchisee is that you become one of their employees.