- What is the Huey Magoo’s?
- Is Huey Magoo’s a Franchise Opportunity?
- Huey Magoo’s Franchise Requirements
- How much does a Huey Magoo’s franchise cost?
- How much do Huey Magoo’s franchise owners make?
- Huey Magoo’s Training to Franchises
- Huey Magoo’s Operations to Franchises
- How is Huey Magoo’s Territory Granted to Franchises
- What is the Franchise Term of Agreement and Renewal?
- Does Huey Magoo’s provide Financial Assistance to Franchises?
- Pros & Cons of owning a Huey Magoo’s Franchise
- What is Huey Magoo’s franchise reviews
- Huey Magoo’s Franchise Rankings
- Franchise Deck Analysis and Overview
- Huey Magoo’s Franchise Success and Failure Rate
- Competition Analysis of Huey Magoo’s Franchise
- Conclusion : Should You buy a Huey Magoo’s franchise for sale?
- Frequently Asked Questions (FAQs)
Welcome to Huey Magoo’s Franchise Cost Profit Reviews Now, where you, as a potential franchisee, can uncover valuable insights into the world of Huey Magoo’s outlet ownership. Are you eager to delve into the exciting realm of the fast-casual restaurant industry? Look no further. In this blog, we will guide you through the franchise cost and profit analysis, giving you a comprehensive understanding of the financial aspects involved in starting and running a successful Huey Magoo’s franchise. From initial investments and ongoing expenses to revenue potential and profit margins, we are here to equip you with the knowledge you need to make informed decisions and embark on a rewarding entrepreneurial journey.
The market for food and beverage services expanded at a compound annual growth rate (CAGR) of 5.7% from $3,559.94 billion in 2022 to $3,763.14 billion in 2023.
What is the Huey Magoo’s?
Huey Magoo’s is a fast casual restaurant specializing in chicken tenders. Established in 2004 by Matt Armstrong, it offers a menu focused on high-quality, hand-breaded chicken tenders and various dipping sauces. With its commitment to using fresh ingredients and providing exceptional customer service, Huey Magoo’s has gained a dedicated following. The company started franchising in 2006 and has plans for nationwide expansion. Known for its delicious tenders and family-friendly atmosphere, Huey Magoo’s has become a popular choice for those seeking a tasty and satisfying chicken tender experience.
Is Huey Magoo’s a Franchise Opportunity?
Yes, Huey Magoo offers franchise opportunities. The company began franchising in 2006, allowing aspiring entrepreneurs to invest in and operate their own Huey Magoo’s restaurant. This franchise model enables individuals to tap into the brand’s success and benefit from its proven business model and support systems.
Facts That Nobody Told You About Huey Magoo’s
- Huey Magoo’s was founded by Matt Armstrong in 2004, with the first location opening in Oviedo, Florida.
- The restaurant’s name is inspired by the childhood nickname of one of the founder’s childhood friends, whose name was Huey and he loved chicken tenders.
- Huey Magoo’s is known for its delicious hand-breaded chicken tenders made from fresh, never-frozen chicken.
- The restaurant offers a variety of dipping sauces, including their famous “Magoo’s Sauce,” which is a tangy and slightly spicy signature sauce.
- Huey Magoo’s prioritizes using high-quality ingredients and focuses on providing a family-friendly dining experience.
- The brand emphasizes community involvement and frequently partners with local organizations and schools for charitable events and fundraising initiatives.
- The restaurant has received numerous accolades and awards, including recognition for its exceptional customer service and delicious food.
| Huey Magoo’s Franchise Review and Information | |
| Industry Type | Food and Beverage Services Industry |
| Sub Category | Fast Casual Restaurant |
| Year Established | 2004 |
| Company Name | Huey Magoo’s Chicken Tenders |
| Founder/Management Head | Matt Armstrong |
| Franchising Started | 2006 |
| Employees at Company H.O | |
| Franchise Expansion Plan | Throughout US |
| Number of Units | 20+ |
| Number of Franchise Units | N/A |
| Social Media Handles | |
| Youtube | |
| Company Office location | |
Huey Magoo’s Franchise Requirements
- Minimum experience required: While specific minimum experience requirements are not mentioned, having prior experience in the restaurant industry or in running a business can be beneficial when considering a Huey Magoo’s franchise.
- Cash requirements: The exact cash requirements are not provided, but potential franchisees should have sufficient funds to cover the initial investment, franchise fee, working capital, and other expenses associated with starting and operating a franchise.
- Net worth: The net worth requirement is not disclosed, but it is generally expected that franchisees have a certain level of personal net worth to ensure financial stability and the ability to support the franchise.
- Franchise fee: The exact franchise fee is not specified and may vary depending on various factors such as location and other considerations. Franchise fees typically cover the right to operate under the brand name and receive support and training from the franchisor.
- Initial investment: The initial investment for a Huey Magoo’s franchise includes various costs such as leasehold improvements, equipment purchases, signage, initial inventory, marketing, and working capital. The total initial investment amount can vary based on factors such as location and the size of the restaurant.
How much does a Huey Magoo’s franchise cost?
The franchise fee for Huey Magoo’s amounts to $35,000. Royalty fees, which are a percentage of sales, are set at 5%, while marketing fees are set at 2%. To become a franchisee, it is advisable to possess at least $250,000 in liquid assets and have a net worth of $750,000 or more. In total, the initial financial commitment for opening a new Huey Magoo’s unit falls within the range of $338,380 to $569,800.
How much does it cost to franchise a Huey Magoo’s in the United States?
The franchise fee for Huey Magoo’s amounts to $35,000. Royalty fees, which are a percentage of sales, are set at 5%, while marketing fees are set at 2%. To become a franchisee, it is advisable to possess at least $250,000 in liquid assets and have a net worth of $750,000 or more. In total, the initial financial commitment for opening a new Huey Magoo’s unit falls within the range of $338,380 to $569,800.
| Huey Magoo’s Franchise Price and Costs | |
| Franchise Fee | $35,000 |
| Franchise Cost | $338,380 – $569,800 |
| Royalty Fee | 5% |
| Advertising Fee | 2% |
| Term of Agreement | N/A |
| Is franchise term renewable? | N/A |
| Renewable Franchise Fees | N/A |
How much do Huey Magoo’s franchise owners make?
The income or earnings potential of Huey Magoo’s franchise owners can vary depending on various factors such as location, sales performance, operating costs, and individual efforts. Specific earnings figures are not publicly disclosed, and individual results may vary.
What is Huey Magoo’s franchise profit?
I will estimate/analyse/project the Huey Magoo’s franchise profit and years to recoup the investment (ROI).
| AUV | Estimated Annual Profit (12.5%) | Estimated Annual Profit (15%) | Estimated Annual Profit (18%) |
| $ | $ | $ | $ |
| Recoup mid-point
$ |
years | years | years |
The estimated Huey Magoo’s franchise profit is in the range of $ to $ and it will take to years to recoup the investment.
According to industry standards, getting a return on the franchise investment will not take a very long time.
Huey Magoo’s Training to Franchises
Huey Magoo’s Franchising provides a distinctive training program that combines both practical on-the-job experience and classroom sessions. The training period spans 17 days, during which you will receive instruction in a corporate training store as well as at your own franchised location.
Huey Magoo’s Operations to Franchises
N/A
How is Huey Magoo’s Territory Granted to Franchises
Potential locations for establishing a new Huey Magoo’s restaurant are concentrated in the Southeastern and Midwestern regions of the United States. When you secure a territory, it will be exclusively yours, and no other Huey Magoo’s franchise will be allowed to operate in that designated area. Huey Magoo’s will provide support and final approval in the search for an appropriate real estate site. Additionally, there is an option for Express units, which are suitable for smaller locations such as malls, airports, food courts, stadiums, and any other sites under 1,800 square feet. The Express model may involve a more streamlined menu, specific construction and equipment packages, and an operations manual tailored to the smaller scale.
What is the Franchise Term of Agreement and Renewal?
N/A
Does Huey Magoo’s provide Financial Assistance to Franchises?
Huey Magoo’s Franchising does not provide any form of direct or indirect financing to franchisees. Franchisees are responsible for securing their own financing for the initial investment and ongoing operations of their franchise.
Pros & Cons of owning a Huey Magoo’s Franchise
Pros of owning a Huey Magoo’s Franchises
- Established Brand: Benefit from operating under a recognized and established brand name with a loyal customer base.
- Proven Business Model: Gain access to a successful and proven business model that has shown profitability.
- Training and Support: Receive comprehensive training and ongoing support from the franchisor, including operational guidance and marketing assistance.
- Menu and Quality: Offer high-quality chicken tenders and a variety of delicious dipping sauces, catering to customer preferences.
- Expansion Opportunities: Tap into the potential for nationwide expansion with the franchise’s plans for growth.
Cons of Owning a Huey Magoo’s Franchises
- Financial Investment: Initial investment costs, franchise fees, and ongoing royalty and advertising fees can be substantial.
- Franchise Agreement: Be bound by the terms and conditions of the franchise agreement, which may restrict certain business decisions and require compliance with brand standards.
- Market Competition: Face competition from other fast-casual restaurants and chicken tender establishments in the market.
- Operational Challenges: Experience the typical challenges associated with running a restaurant business, such as staffing, inventory management, and maintaining quality control.
- Limited Menu Flexibility: Have limited flexibility in menu customization and the introduction of new menu items due to brand consistency.
What is Huey Magoo’s franchise reviews
Positive reviews
- “Huey Magoo’s provides strong support and guidance to franchisees, from training to ongoing operations.”
- “Benefit from a well-established brand and loyal customer base, driving positive customer perception and increased traffic.”
Negative reviews
- “Menu customization is limited, hindering the ability to cater to regional preferences or introduce new items.”
- “ Franchisees incur ongoing fees, impacting profitability but contributing to brand promotion.”
Huey Magoo’s Franchise Rankings
N/A
Franchise Deck Analysis and Overview
Huey Magoo’s is a fast-casual restaurant franchise specializing in delicious hand-breaded chicken tenders and a variety of dipping sauces. With a strong brand recognition and loyal customer base, it offers franchise opportunities for entrepreneurs looking to enter the thriving fast-casual dining industry. While the franchise provides excellent support, including training and operational guidance, potential franchisees should be aware of the high initial investment required and ongoing fees. Limited menu flexibility and market competition are also factors to consider. Overall, careful analysis and consideration of the franchise’s strengths and risks are essential before making an investment decision.
Potential Risks to consider before investing in a Huey Magoo’s franchising
Before investing in a Huey Magoo’s franchise, potential risks to consider include the high initial investment required, limited menu flexibility, ongoing royalty and advertising fees, market competition, operational challenges, and the need to comply with the franchisor’s terms and conditions.
Is the Huey Magoo’s franchise Profit Worth the Cost?
Determining if the Huey Magoo’s franchise is worth the cost depends on various factors such as location, market conditions, and individual business management. Conducting a thorough analysis of potential profits and weighing them against the associated costs and risks is crucial before making a decision.
Huey Magoo’s Franchise Success and Failure Rate
The below table will highlight the Huey Magoo’s’s franchise success and failure rate for the last 3 years. This will supplement your decision-making process.
| Year | Format | Start | End | Change |
| 2019 | Franchise Owned | – | – | – |
| Company Owned | – | – | – | |
| 2020 | Franchise Owned | – | – | – |
| Company Owned | – | – | – | |
| 2021 | Franchise Owned | – | – | – |
| Company Owned | – | – | – |
Competition Analysis of Huey Magoo’s Franchise
| Huey Magoo’s | Cost to Franchise | Franchisee Fees | Royalty + Ad fees | Expected Profit | Recoup of Capital | FD Rating |
| Huey Magoo’s | $338,380 – $569,800 | $35,000 | 5% + 2% | – | – | 3.8/5.0 |
| Eggs Up Grill | $412,888 – $764,575 | $39,000 | 5% +1-2% | $ 69,200 | 8.50 years | 3.8/5.0 |
| Chicken Express | $500,000 – $800,000 | $30,000 | 5% +
2% |
– | – | 3.7/5.0 |
| Another Broken Egg Cafe | $847,100 – $1,226,000 | $ 40000 | 5% + 1.5% | $116413 | 8.4 years | 3.7/5.0 |
| Ben & Jerry’s | $152,200 – $565,300 | $16,000 – $37,000 | 3% + 4% | – | – | 3.9/5.0 |
| Eggs Up Grill | $412,888 – $764,575 | $39,000 | 5% +1-2% | $ 69,200 | 8.50 years | 3.8/5.0 |
The Franchise Deck rating for the Huey Magoo’s franchise is 3.8/5.0.
Conclusion : Should You buy a Huey Magoo’s franchise for sale?
In conclusion, exploring the franchise opportunities offered by Huey Magoo’s has shed light on its potential for profitability. By examining the franchise cost and profit reviews, you have gained valuable insights into the business model and its potential returns. Huey Magoo’s stands out as a promising option with its proven track record, quality food offerings, and dedicated customer base. With careful consideration and planning, investing in a Huey Magoo’s franchise can be a lucrative venture. Remember to conduct thorough research, assess your financial capabilities, and align your goals with the brand’s vision. With the right strategy and commitment, you can embark on a rewarding entrepreneurial journey with Huey Magoo’s.
Entrepreneurs who want to open a franchise in the category franchise opportunities categories can look at
- Eggs Up Grill Franchise
- Chicken Express Franchise
- Another Broken Egg Cafe Franchise
- Ben & Jerry’s Franchise
- HTeaO Franchise
- SomiSomi Franchise
- Ice Cream Delight Franchise
- Insomnia Cookies
- Nothing Bundt Cakes Franchise
- The Crumbl Cookies Franchise
- Great American Cookies franchise
Frequently Asked Questions (FAQs)
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Is the Huey Magoo’s franchise profitable?
The profitability of a Huey Magoo’s outlet can vary depending on factors such as location, management, and market conditions.
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Can you make money owning a Huey Magoo’s?
Yes, it is possible to make money owning a Huey Magoo’s franchise through successful operations and meeting customer demand.
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Is Huey Magoo’s a franchise?
Yes, Huey Magoo’s operates as a franchise, offering opportunities for individuals to invest in and operate their own locations.
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How much is a Huey Magoo’s franchise?
In total, the initial financial commitment for opening a new Huey Magoo’s unit falls within the range of $338,380 to $569,800.
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How do Huey Magoo’s franchises make money?
The franchises generate revenue through sales of their menu offerings, with profit margins dependent on factors such as costs, sales volume, and operating efficiency.
