INTERNATIONAL HOUSE OF PANCAKES (IHOP) Franchise Cost and Profit Margin – Review
International House of Pancakes (IHOP) is a popular brand that serves delicious high-quality pancakes as well as other light delicacies that can be taken for breakfast, lunch or dinner. Their restaurants are known for their calm and friendly atmosphere.
International House of Pancakes restaurants are franchised, and they are always looking to expand their reach by accepting new intakes. This is why people are always asking questions like How Much Is An International House of Pancakes Franchise
How much do you make as an IHOP owner? How many Ihops are there in the world? Who owns IHOP franchise? Read more.
The International House of Pancakes was established in the year 1958. About five years later, they bought many companies like Golden Cup Coffee Shops and Orange Julius and they also made a big marketing campaign that transformed them into a big brand. The company currently has more than 1,500 independently owned and franchises worldwide.
IS INTERNATIONAL HOUSE OF PANCAKES A FRANCHISE?
International House of Pancakes is a franchise and they began selling franchise opportunities in the year 1960 giving them about 56 years of franchising experience that is centered on a working franchise model. The company seeks to grow in numerous cities around the country, and they made franchise opportunities available to the public.
THE FRANCHISE OFFER
International House of Pancakes are looking for franchisees who are not new in the restaurant business and are ready to leverage on their brand to grow big. When you buy into IHOP’s franchise, you will be granted the opportunity to carry out your restaurant operations under their iconic brand.
WHY BUY AN INTERNATIONAL HOUSE OF PANCAKES FRANCHISE?
IHOP is a proven and trusted brand that is popularly known for quality. When you choose to run your restaurant under their brand, you don’t need to start from the bottom level. You don’t need to work very hard to gain the trust of people by building another brand.
HOW MUCH DOES AN INTERNATIONAL HOUSE OF PANCAKES FRANCHISE COST?
The International House of Pancakes franchisecost will be the whole investments that you will need to put in place a franchise unit with IHOP. Depending on factors like the size and location of your restaurant, your total initial investment is in the range of $375,550 to $3,917,350. You are also expected to have liquid cash in the tune of $500,000.
INTERNATIONAL HOUSE OF PANCAKES FRANCHISE FEE
International House of Pancakes Franchise Fee is the money you pay to the company to earn the right to operate with their brand. The initial franchise fee is non-refundable and is renewable every 10 years after making payment. The initial franchise fee payment is $50,000 with an additional ongoing royalty of about 4.5%.
HOW MUCH DOES AN INTERNATIONAL HOUSE OF PANCAKES FRANCHISE MAKE?
The amount you can make as an International House of Pancakes franchise owner depends on various factors and conditions. The location which your restaurant is situated will go a long way to determine your annual income. You are likely to make more money and get more customers if your restaurant is located in a region with a big population.
IHOP has a working franchise model that will help the franchise owner to become successful if well applied. The company is an iconic brand that makes over $2billion in revenue each year worldwide.
International House of Pancakes hasput in place some training systems for new franchisees joining the company. There are two initial training programs that have been put on the ground. One of them is for team members like cooks, cashiers and servers, and the second one is for the management of the new franchise.
The management is going to learn important things like how they can be productive and manage their equipment properly. They will learn about guest safety and restaurant hospitality, as well as revenue accounting procedures and effective team leadership.
IHOP does not guarantee an exclusive territory to franchisees. Franchisees may face competition from other outlets working under the IHOP brand.
International House of Pancakes doesnot provide any form of financing to their franchisees. But the company may introduce franchisees who are seeking additional funds for their businesses to other 3rd party lending sources.
TERMS OF AGREEMENT
On many occasions, a franchisee can only operate under the International House of Pancakes brandfor 20 years from the time the franchise agreement is signed. However, in some cases, it could vary depending on the agreement signed with the company.
OTHER SUPPORT AVAILABLE
Apart from the initial training key members of the franchise unit are going to pass through at the beginning of the operation, IHOP will continue supporting every new franchisee in different capacities. They are also available to share marketing tips with franchisees to help them get more customers and make more money.
HOW TO OPEN AN INTERNATIONAL HOUSE OF PANCAKES FRANCHISE
This article has explained how to open an International House of Pancakes franchise. To complete your registration, you are to go to IHOP’s website and submit your application. Once the company has received your application, they will inform you if you are eligible to work with their brand or not. If you are considered for a franchise opportunity, you will be assigned a franchise manager who will assist you in setting up your new franchise unit