April 28, 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 the launch of a new financing program for qualified restaurant operators who sign a new franchise agreement to purchase an existing Melting Pot location in select markets across the country.
Through its "Path to Grow" financing 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. The franchisor will inject an initial capital contribution of up to 25 percent of the purchase price and loan 70 percent of the cost to the partnership to acquire the location. 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 would be responsible for the daily operations of the restaurant. Once the loan is repaid, the operating franchisee can then buy out the 51 percent stake in ownership from the franchisor by repaying the initial capital contribution amount paid by the franchisor. At such time, the franchisor would surrender its ownership interest allowing the operating franchisee to be the sole owner of the restaurant.
"Our new 'Path to Grow' program offers attractive financing options to prospective franchise owners by allowing them access to capital without having to go through a traditional lender," said Mike Lester, president of The Melting Pot. "Path to Grow provides an excellent opportunity for experienced restaurant operators, both affiliated and unaffiliated with The Melting Pot, to make the transition from operator to franchise owner. For instance, if an existing restaurant was for sale at $300K, an experienced operator could qualify for our 'Path to Grow' program and purchase the restaurant by contributing as little as $15K -5 percent - cash upfront by way of an initial capital contribution. With little competition in the fondue segment and simple business operations, The Melting Pot is an ideal investment opportunity for entrepreneurs."
There are currently several Melting Pot restaurants for sale in cities across the country, including Destin and Pensacola, Fla.; and Red Bank, N.J., as well as opportunities to potentially re-open former locations in Memphis and Chattanooga, Tenn.
The Melting Pot was just ranked No. 1 among 40 casual-dining restaurant chains in Nation's Restaurant News' 2015 Consumer Picks report, up from No. 6 out of 38 concepts last year. The brand ranked first in four out of 10 overall attribute categories, achieving top scores in cleanliness, service, atmosphere and craveability.
The Melting Pot operates more than 130 restaurants across 35 U.S. states, Canada, Mexico, and 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 provide more information on franchise opportunities and available territories, The Melting Pot will host a live webinar on May 20 at 11 a.m. (EDT). To register, please visit http://www.meltingpotfranchise.com/upcomingEvents.aspx or contact Shak Turner, director of franchise development for The Melting Pot, at 800-783-0867 ext. 105.
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. As the brand celebrates its 40th anniversary in 2015, a 40 percent discount will be offered on the initial franchise fee for the franchisee's first new construction restaurant for any 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 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 entrees 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. For more information, visit http://www.frontburnerbrands.com.
SOURCE The Melting Pot Restaurants, Inc.
Erin Povlitz (Baker)
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