March 23, 2015 // Franchising.com // TAMPA, Fla. - The Melting Pot® Restaurants, Inc., the world's premier fondue restaurant and a leading polished casual dining franchise, announced today that it is seeking qualified restaurant operators to re-open restaurants in Memphis and Chattanooga, Tenn. To fuel development, interested candidates can take advantage of The Melting Pot's new "Path to Grow" program, which provides financing to those who sign a franchise agreement to purchase an existing Melting Pot location in select markets across the country, including Chattanooga and Memphis.
Through its "Path to Grow" program, approved restaurant operators can inject as little as 5 percent liquidity into the purchase of the restaurant to partner with the franchisor, who would provide the financing. In exchange, the franchisor would initially assume 51 percent ownership of the restaurant under the conditions that the operating franchisee agrees to pay back the initial loan within three years of signing the franchise agreement. The franchisee would initially have 49 percent ownership of the restaurant and once the loan is paid in full, the franchisor would surrender its ownership interest allowing the operating franchisee to be the sole owner of the restaurant.
"We're excited to bring our interactive dining experience back to Memphis and Chattanooga. The beauty of the 'Path to Grow' program is that our potential operating franchise partners do not have to worry about the hassle of having to go through the bank in order to get the financing they need to start a business," said Mike Lester, president of The Melting Pot. "Our new financing program combined with our reduced franchise fee offer is giving entrepreneurs with restaurant operations background the ultimate turnkey business opportunity so that they can hit the ground running. This opportunity is ideal for experienced restaurant operators who are ready to make the transition to business ownership but do not have the cash on hand needed to open their own Melting Pot from the ground up."
Chattanooga and Memphis are just two select markets throughout the U.S. where the company is seeking qualified new franchisees. Currently, The Melting Pot has three Tennessee restaurants located in Gatlinburg, Knoxville and Nashville.
The Melting Pot plans to expand its footprint in select markets throughout the U.S. and overseas. Domestically, the company is targeting growth markets, including Anchorage, Alaska; Dallas, Texas; Hartford, Conn.; and Los Angeles, Calif., as well as Memphis and Chattanooga, Tenn. On the international front, The Melting Pot is focusing its expansion efforts in target cities throughout Brazil, Canada, India, Japan and South Korea as well as in Hong Kong. During the first half of 2015, the company plans to open its first restaurants in Jakarta, Indonesia; Dubai, United Arab Emirates and Riyadh, Saudi Arabia.
Underscoring its 2014 achievements, The Melting Pot was ranked sixth out of 38 concepts in the casual dining segment of the Nation's Restaurant News 2014 Consumer Picks Survey. In the varied menu/specialty sub-segment of the casual dining industry, The Melting Pot ranked first in the categories of cleanliness, service and likelihood to recommend. Overall in the casual dining segment, the brand ranked second in cleanliness, second in service and fourth in likelihood to recommend.
The Melting Pot operates more than 130 restaurants in the U.S., Canada, Mexico, and now Southeast Asia, and has more than 20 locations in development internationally. The concept is known for offering an assortment of flavorful fondue cooking styles and a variety of unique entrees served with signature dipping sauces. The menu features a variety of a la carte selections, highlighting customizable options that invite guests to enjoy one, two, three or more courses as they select any combination of individually-priced cheese fondues, salads, entrees and chocolate fondues.
To learn more about franchise opportunities and available territories, The Melting Pot is hosting a live webinar on April 23 at 2 p.m. (EDT). To register, please visit https://attendee.gotowebinar.com/register/6991775015032499713 or contact Shak Turner, director of franchise development for The Melting Pot, at 800-783-0867 ext. 105 or email@example.com.
The Melting Pot is seeking entrepreneurs with business backgrounds and/or preferably restaurant experience who are passionate about the brand and want to be their own bosses. Franchisee candidates should have a credit score of 650 or higher, a minimum net worth of $750,000 and liquid assets of at least $325,000 per unit. Depending on the real estate site selected, franchisees can expect the total investment for one restaurant to be approximately $959,000 to $1,436,000. Single-unit and multi-unit franchise opportunities are available with an initial franchise fee of $45,000 per unit. As the brand celebrates its 40th anniversary in 2015, a 40 percent discount will be offered on the initial franchise fee for the first restaurant for all new franchise agreements signed in 2015.
To learn more about ownership opportunities with The Melting Pot, contact Shak Turner, director of franchise development for The Melting Pot, at 800-783-0867 ext. 105 or firstname.lastname@example.org or visit www.meltingpotfranchise.com.
To learn about fondue history and facts, check out The Melting Pot's fondue infographic.
With more than 130 restaurants across 35 U.S. states, Canada, Mexico and Southeast Asia and more than 20 locations currently in development internationally, The Melting Pot Restaurants, Inc. is the premier fondue restaurant franchise and a leading polished casual dining franchise. Founded in 1975, The Melting Pot has offered a memorable dining experience for 40 years. Guests enjoy a choice of fondue cooking styles and a variety of unique entrées combined with dipping sauces. The menu also includes cheese fondues, salads, fine wines and chocolate fondue desserts. The Melting Pot is an affiliate of Front Burner Brands, a restaurant management company headquartered in Tampa, Fla. For more information, visit http://www.meltingpot.com.
Front Burner Brands is a restaurant management company headquartered in Tampa, Fla. It is affiliated with the corporate owners of and its management services extended to The Melting Pot Restaurants, Inc., founded in 1975 with more than 130 restaurants in North America and Southeast Asia and more than 20 locations currently in development and GrillSmith with five locations in the Tampa Bay area. For more information, visit http://www.frontburnerbrands.com.
SOURCE The Melting Pot Restaurants, Inc.