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If you are thinking of establishing a franchise you might want to consider working with Taco Bell. Taco Bell is a well established restaurant and brand with a proven fifty year history. Working with Taco Bell to open a franchise also comes with the full support of the their peer network, which includes more than 350 franchises. Before you apply, make sure that a Taco Bell franchise is a good fit with your business goals.
Steps
Part 1
Part 1 of 3:
Planning For and Meeting The Requirements
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1Decide if opening a franchise is right for you. Although a Taco Bell franchise can be a great investment for some, it is important that you carefully consider all aspects of this endeavor before applying. Learning about requirements, fees, investments and other responsibilities can help you make the right choice.
- 5.5% of your monthly earnings will go to royalties.
- Taco Bell plans on opening 2,000 franchises by 2023
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2Get ready for a commitment. Opening a Taco Bell franchise is a serious commitment and it will require a great deal of your time and attention to successfully create. Prepare for a long term commitment to your new Taco Bell franchise before you apply.
- Opening a franchise is a serious financial investment.
- Your new franchise will require a great deal of your personal attention and management.
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3Arrange for financing and know what fees to expect. Before you pursue the opening of a Taco Bell franchise you will need to secure financing and be aware of the fees involved. Properly preparing your financing can help make the application process a success and make your Taco Bell franchise a reality.[1]
- Taco Bell does not provide financing.
- You can apply for financing with partners.
- Not all third party financing options may be accepted.
- Some banks work with Taco Bell directly.
- Fees for opening a standard Taco Bell franchise can range from $1,177,300 to $2,620,600
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4Meet the qualifications. Before you apply and start the process of opening your Taco Bell franchise you will need to be sure that you meet the qualifications. These will be necessary for you to have in order to successfully apply for your franchise.
- Must have previous experience with restaurant management or a partner who has.
- Must have at least $1.5 million in net worth.
- Must have at least $750,000 in liquid assets.
- Should have experience in staffing, managing, and developing a franchise or business.
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5Select the right type of Taco Bell franchise. Taco Bell offers a few different types of Mexican style restaurants, each with a specific purpose in mind. Review the following offerings that Taco Bell has available when opening a new franchise:<R
- Traditional units. These are stand alone Taco Bell restaurants. They come in three different sizes which are large, medium and small.
- End-cap with drive thru. These units are smaller and are well suited to rural areas.
- Bellco inline. These models can work well if another tenant is located in a neighboring space.
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Part 2
Part 2 of 3:
Knowing What To Expect If You Are Accepted
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1Prepare for training. If you are approved to open your Taco Bell franchise, you will need to undergo the Taco Bell training program, along with any partners or expected future managers. Training lasts six to eight weeks and you are responsible for any fees including travel and lodging costs. The Taco Bell training program focuses on the following four key areas:
- Establishing key contacts.
- Building your restaurant.
- Building your team.
- Setting up a strong start for the restaurant.
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2Be prepared to meet the obligations. Opening a Taco Bell franchise will require you to manage the restaurant using specific protocols and methods that are determined by the corporation. Certain personal arrangements may also be required of the person or persons starting the franchise. Review some of the following obligations that you can expect: [2]
- Sell only the food, beverages or other items that are included in your franchise manual.
- You may be required to live within a certain distance of your franchise.
- The original franchisee may be approved to turn over their duties to a supervisor so long as that supervisor has completed the required training.
- The franchisee and his or her family may be excluded from participating in any way with other Mexican restaurant style food except for Taco Bells approved items.
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3Don't expect territory protection. Taco Bell does not provide territory protection to those who are opening a new franchise. However, Taco Bell does provide an “impact policy” which will take into account the impact your own or other's franchises may have on each other in a geographic area.[3]
- You store will be approved only if your impact on surrounding Taco Bell franchises is below a certain level.
- A Taco Bell representative will be able to give you exact levels of impact.
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Part 3
Part 3 of 3:
Applying For The Franchise
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1Apply for the franchise. After you have reviewed all the relevant information and have found that you are able to meet all of the qualifications and requirements you can apply. Applying for your franchise will be the formal start to the process of opening your own Taco Bell franchise.[4]
- You can apply on-line at http://www.tacobellfranchise.com/request-info
- The form to apply is simple and easy to complete.
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2Wait for approval and for the restaurant to be built. Both the application process and the time after your acceptance will require you to wait. The application will undergo a review process that examines your qualifications as well as the site you have proposed for your franchise. If you are approved, it will take time to construct the building or unit that will house your franchise.
- Construction usually takes around four months for a full unit.
- Application time can take ten to twelve weeks.
- If approved, you will receive your training in the last few weeks before your Taco Bell opens.
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3Decide if you want to manage the franchise or hand over those responsibilities. Taco Bell allows either the originally qualified financier to manage the franchise or a fully trained and qualified supervisor to take their place. Think about which option would be best for you and your goals in regards to the future of your Taco Bell franchise.[5]
- Anyone replacing the original financier will need to undergo training and meet the qualifications.
- This decision will need to be approved by Taco Bell before it is allowed.
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Community Q&A
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QuestionHow much land is needed to build a Taco Bell?Joshua MiddletonCommunity AnswerTaco Bell buildings typically range between 1,800 - 2,200 square feet with a drive-thru window, situated on .5 - 1.2 acres of land.
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QuestionHow long can I own Taco Bell?Community AnswerAfter 240 months, your franchise is absorbed by corporate. You receive a buyout equivalent to 0.5x your annual gross, and the store becomes a corporate-owned location.
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Things You'll Need
- Must have previous experience with restaurant managing or a partner who has.
- Must have at least $1.5 million in net worth.
- Must have at least $750,000 in liquid assets.
References
- ↑ http://www.franchisedirect.com/foodfranchises/taco-bell-franchise-07099/ufoc/
- ↑ http://www.franchisedirect.com/foodfranchises/taco-bell-franchise-07099/ufoc/
- ↑ http://www.franchisedirect.com/foodfranchises/taco-bell-franchise-07099/ufoc/
- ↑ http://www.tacobellfranchise.com/request-info
- ↑ http://www.franchisedirect.com/foodfranchises/taco-bell-franchise-07099/ufoc/
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