Ford’s Storage was launched in Fort Meyers, Florida as a basic beer and burger eatery in 2012. Its title derives from its proximity to Henry Ford’s winter residence, the American industrialist who based Ford Motor Firm.
Since then the restaurant chain has expanded to 16 outposts, 14 of that are positioned in Florida with one every in Indiana and Michigan. All are franchised.
When Ford’s Storage first debuted, it had no affiliation with Ford Motor Firm, apart from its title. However when the auto producer discovered of its existence, it embraced the concept of collaborating on a licensing settlement, offering the rights to current its model-T Fords, blue-oval brand and sure historic images, and granting rights to promote quite a lot of Ford memorabilia together with hats and t-shirts.
“Ford receives a proportion of restaurant gross sales,” explains Steve Shlemon, president of Ford’s Storage.
Furthermore, Ford’s sellers have been granted a capability to purchase into the franchises as native traders. Up to now sellers in St. Augustine, Daytona Seaside and Orlando have grow to be part-owners of Ford’s Storage.
By the top of 2021, it is going to add Orlando, making 17 areas, and it’s set to open 10 new eateries by the top of 2022. It hopes to set a tempo of including 10 to fifteen areas yearly.
Ford’s Storage, devoted to consolation meals, with a big choice of ales, is displaying indicators of franchising development regardless of the steep competitors.
Ford’s Storage’s menu focuses on consolation meals, particularly burgers, do-it-yourself meatloaf, blackened salmon, rooster wings, rooster tenders, in addition to recent salads, grilled rooster and recent fish.
“We customise our meals. You’ll be able to remove buns for those who’d like,” Shlemon explains.
Its bar highlights 150 varieties of beer together with 40 on draft, with an emphasis on native microbreweries, which range from one location to a different. 80% of its beer gross sales are for draft beer as a result of most prospects suppose it’s more energizing and tastier, Shlemon says.
Most of its areas are massive with 8,900 sq. ft, about 250 seats, supported by a workers of about 100 workers.
Requested what differentiates it from a bevy of burger and beer rivals like Applebee’s, TGI Friday’s and Houlihan’s, Shlemon, who is predicated in Tampa, Florida, says, “We serve angus burgers, all recent elements, and we make every part in home from scratch.”
At $22 for its common test, it’s within the candy spot of most of its clientele, which ranges from households to singles to grandparents.
Franchising features a payment of $50,000, and the entire price runs from $1.4 million to $6.3 million. Its prices are increased than many different comparable franchises. Most have 7,500 sq. ft of conditioned house and 1,500 sq. ft of patio.
Shlemon attributes the upper charges to its eateries being “bigger to construct or retrofit. Add within the furnishings, fixtures, tools together with coaching make the funding $1.4 million to $4 million.”
By way of return on funding, he says, “We search for a three-year money on money return.”
Increasing by franchising may be difficult as a result of franchisees run the present. To take care of consistency, every franchisee should abide by sure protocols together with solely buying from company-approved distributors and suppliers.
Shlemon notes that its proprietor, the Icon Group, supplies every franchisee a assist crew of 10 staffers that help with real-estate, design, development and buying.
One visitor on Yelp praised the environment at a Tampa location that was replete with “all of the Ford memorabilia and devices” and favored her burger. The one factor she didn’t like was the automotive horn within the restaurant that children have been urgent on that made it too noisey for her.
Regardless of its reliance on franchising, Shlemon envisions that after they attain a sure level, they’ll probably open company-owned retailers and will purchase again among the franchisee’s areas.
Shlemon says the three keys to its future success are: 1) hiring high quality individuals to run every restaurant; 2) deciding on the correct franchisees as companions; 3) sustaining its optimistic popularity that carries over to the brand new locations.
