WHAT IS THIS GOING TO COST?

Your initial investment, as outlined below, is contributed to the leasehold improvements required to build out your store, as well as equipment, marketing, franchise fees, deposits, smallwares (cooking utensils), legal costs, labour costs, signage, inventory, and various other costs.

Joey’s Urban has a weekly royalty structure paid on the Monday of each week. The Royalty Fee is 4.5% on gross sales while the Advertising Fee is 2% of Gross sales. Gross sales are calculated less coupons and discounts, so you only pay royalties on what you actually receive in sales. You do not pay royalties on sales of alcoholic beverages.

PROJECTED OPENING COSTS

Joey’s Urban, based on 1500 square feet with an average Landlord Inducement of $20.00 per square foot;

Deposits, Permits, Drawings		$11,500
Leasehold Improvements and Fixtures		$110,000 - $130,000
Furniture, equipment and smallwares		$65,000 - $95,000
Franchise Fee ($25,000 total, $5,000/year for the 1st 5 years)		$10,000
Opening Inventory		$8,250
Advertising and Signage		$12,500
Total Projected Opening Costs*		$217,250 - $267,250

*NOTE: These are estimated costs only, Joey’s Urban cannot guarantee the exact costs of opening each individual restaurant. Estimates are compiled using industry data along with previous Joey’s opening calculations. Your store will vary based on construction rates in the region, the present- day economy, and various other factors beyond Joey’s Urban’s control.