What follows are the most common questions potential franchisees ask about the process of joining the TacoTime family. Though thorough, it probably won't cover all of your questions, so feel free to contact the TacoTime Franchise Development Department should you need further information.
Why do I have to pay a franchise fee?
- The franchise fee represents your purchase of our tested systems for operating a high-quality Mexican restaurant. The system has been developed and refined over our 40+ year history. It represents the collection of knowledge & experience of decades of franchise management.
- Taco Time International, Inc. (TTI) offers a complete Training Program & New Store opening assistance. There is no guarantee of success in business. However, statistics show that starting a franchise business greatly increases your opportunity for success as compared with starting your own business .
- In addition, you will receive ongoing support and an integrated marketing program to assist you.
Do I need restaurant experience?
Restaurant experience is not mandatory, but highly desirable and beneficial. No matter your background, there are certain skills and personality traits that are a must:
- Willingness to adhere to and follow TacoTime systems and standards.
- Organizational skills.
- People skills - this is a people business and you must enjoy interacting with customers as well as training and motivating staff and coworkers.
- Work ethic - the restaurant business is open 7 days a week and requires long hours, particularly at the outset, as you are getting the business established.
- Enthusiasm - nothing is more contagious to staff and customers than a genuine positive attitude and zest for life.
In addition to my franchise fee, do I pay any other fees?
- Yes, there is a 6% service fee on gross sales (in some circumstanses this fee may vary).
- There is also a 4% national advertising fee. The TTI National Advertising Fund, Inc. (NAF) is a nonprofit corporation that directs the development of advertising and marketing programs designed to promote TacoTime products and system-wide growth. In addition, many franchisees invest a certain percentage of their operating budget in local store marketing (LSM) programs. The NAF and TTI may also develop advertising and marketing materials that can be adapted for use at the local store level by each franchisee.
- Other fees may be paid to third parties when applicable.
What kind of franchises do you offer?
- Single Restaurant: This agreement provides a protected one-mile radius around a single restaurant location.
- Area Development / Multi-Restaurant: This agreement grants the franchisee, for a specific period of time, the exclusive option to open TacoTime franchises within a certain geographic area. It also sets forth the number of TacoTime restaurants that you would be authorized to establish.
- Express Unit: These units have been designed for application in special locations such as convenience stores, specific international markets and schools. In some circumstances, TacoTime has allowed co-branding with other QSR concepts.
How do I go about selecting a site for my restaurant?
- The franchisee is primarily responsible for the selection of a suitable site for each restaurant. However, TTI will provide assistance and advice in the way of site analysis, demographics research and lease review (if applicable). It is recommended that an attorney review all leases.
- If I sign up today, how long would it be before I open my restaurant?
- From the date that the franchise agreement is signed, it will take approximately 6 to 10 months. However, the timeframe is subject to the availability of land, weather conditions, local licenses and permits.
Does TacoTime have any minimum net worth requirements I need to meet in order to be considered?
To open a TacoTime restaurant, the financial requirements are as follows:
- Net Worth - $300,000
- Liquid Assets - $100,000
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