The Greene Turtle- Steps to Becoming a Franchisee
Step 2: Introductory Phone Discussion
An introduction to The Greene Turtle franchise opportunity. We will discuss the general qualification requirements, both financial and operational. You will learn about the history and culture of the company, territories available, as well as an overview of the business model and much more.
Step 3: Submit Franchise Application and Financial Statement
Should the discussion conclude to each party’s mutual satisfaction, applicants will submit a confidential Business Application. Applicants must have a minimum net worth of $1,500,000 per restaurant, of which a substantial portion is in liquid assets. Each partner is required to submit a separate Business Application.
Step 4: Application Review
We will conduct an initial review of your application. If this review is favorable, you will receive preliminary approval and we will continue the process of mutual due diligence.
Step 5: Face to Face Meeting
The Greene Turtle Franchising Corporation will make a preliminary visit to your local marketplace. This visit may be conducted in the Baltimore/DC market depending on your geographical location. At this meeting you will learn about our franchise program and the support services we offer. We will discuss your responsibilities and your business objectives. During this meeting you will be provided our current Franchise Disclosure Document (FDD).
Step 6: Discovery Day / Interview
A day of formal meetings beginning at our corporate restaurant in Hanover, MD and concluding at our corporate offices in Edgewater, MD. You will meet with the CEO/President, as well as other members of The Greene Turtle's executive staff. This time will be used to thoroughly review the FDD, Area Development Agreement, and Franchise Agreement. Additional discussion topics center around The Greene Turtle business opportunity and your plans on how you will approach the development of your The Greene Turtle business. Any and all financial and operational partners are highly encouraged to attend this very important day.
Step 7: Formalize Agreement
If mutual interest is confirmed, we will plan to move forward on a Development Agreement, which includes:
- A defined development territory.
- Timeline of the first restaurant and future restaurants in the Development Agreement.
- Execution of the initial Franchise Agreement (Payment of $45,000 franchise fee).
- Execution of the Area Development Agreement (Payment of $10,000 fee per store).
Step 8: Site Selection
As an official The Greene Turtle Developer/Franchisee, you now have to secure a viable location to open your first restaurant. The Greene Turtle Franchising Corporation will assist you and your efforts to find and develop an appropriate location within your exclusive Development Territory.