Give your customers their healthy Asian fix with a wok franchise.

24/06/2018 14:00 | Start a business

Give your customers their healthy Asian fix with a wok franchise

While traditional fast food chains have been at the forefront of the franchising movement for many years, thereís been a relatively recent explosion of healthier fast food restaurants based on Asian cuisine. Driven by the growing demand for exotic and adventurous foods, a desire to live a healthier lifestyle, and appreciation for the theatricality of the wok-based cooking experience, large numbers of customers have been frequenting two franchises in particular. Wok to Walk and Wok&Go are the two most prestigious Asian fast food franchises in the country, and both are an excellent investment opportunity. Here, we take a look at what makes them special.

Wok to Walk

Wok to Walk markets itself as Europeís leading Asian fast food franchise and itís difficult to dispute this claim. Founded in 2004, the Amsterdam-based franchise quickly developed into an international business, with just under 100 units in cities as diverse as London, Barcelona, Los Angeles, and New York. Offering fantastically fresh Asian cuisine thatís prepared in front of your eyes, Wok to Walk has established itself as an exciting opportunity for any potential franchisee who finds the idea of opening their own fast food franchise an attractive proposition. The franchise regularly gains rave reviews for its recipes, and many customers return time and time again solely to watch the spectacular show the chefs put on each time they cook a dish.

What investment is required?

To invest in Wok to Walk, it's necessary to raise a minimum initial investment of £100,000. Franchise fees are set at around £45,000. In the case of Wok to Walk, funding support is available from many large banks and major lenders. Due to the franchise's well-respected business model and the brand's reputation for success, lenders are much more comfortable financing new Wok to Walk franchises than they are smaller, independent businesses. Having established a new franchise unit, franchisees will be expected to contribute 6% of net sales (+VAT) in royalty fees, and a further 2% of net sales (+VAT) will go towards the franchisor's advertising costs.

What do you receive in return for the investment?

In return for your investment, franchisees will be granted the right to operate under the Wok to Walk name and brand image. The franchiseís business model is surprisingly versatile, so franchisees will have to think long and hard about the type of establishment they want to run Ė would a hole in the wall, takeaway store be better than a large scale, restaurant-styled unit? Having chosen the type of franchise unit you want to run, assistance in setting up the premises will be provided by the franchise. The initial training programme will teach franchisees all you need to know about running a Wok to Walk franchise, and ongoing support and guidance are also available.

Wok&Go

Wok&Go is an Asian franchise that specialises in serving up a unique blend of Thai, Malay, Chinese, Japanese, and Indonesian cuisines. With units situated all over the UK, itís a franchise that hasnít struggled to establish itself in the competitive fast food market. The franchise currently boasts 22 sites around the UK, though itís quickly expanding and becoming one of the countryís most popular franchises to invest in. All Wok&Go's recipes are designed by their specialist cooking teams, and the franchise focuses on providing a complete experience for the customer, meeting all their expectations each time they visit. Healthy recipes, convenience, and speed of service are all prioritised, while the theatricality and performance aspect of the meal preparation are also important draws. If you want to own a franchise but arenít that keen on running it, Wok&Go also offer a unique franchisor-run service. Franchisees put in the required investment, the franchisor runs the unit on their behalf, and the franchisee takes home a guaranteed income.

What investment is required?

To invest in Wok&Go, potential franchisees need to raise a minimum of £100,000. The franchise fee is generally £15,000 +VAT. However, the franchise estimates that at least £200,000 will be required to get the franchise up and running, and franchisees will need a significant amount of working capital if theyíre to be successful. Once the business has opened its doors, franchisees can be expected to pay a royalty fee that equates to 6% of net sales +VAT. On top of this, an advertising fee of 1% of net sales +VAT will be payable to the franchisor. Funding support is available from major lenders and some banks, though how much of the initial investment can be borrowed will largely depend on your specific personal circumstances.

What do you receive in return for the investment?

In return for your investment, franchisees will receive a turnkey store outfitting, which covers site selection, design, build, and project management. All of this is performed in-house at Wok&Go, ensuring that prices are kept low, and franchisees benefit from the franchise's many years of experience. As well as the franchiseeís own preparation, training will also be provided for all the unitís chefs and staff, and youíll receive a great deal of help when it comes to selecting and hiring your team. A regional manager is assigned to each franchise unit and acts as a liaison between the franchisee and franchisor, ensuring the lines of communication are always open and franchisees receive the support and guidance they need. Finally, Wok&Go run national advertising and marketing campaigns on behalf of their franchisees and also operate a specially designed app that drives users towards franchise units in their area.

Conclusion

While both of our wok-based franchises operate according to a similar business model, there are substantial differences between their respective franchise models. This means that potential franchisees need to think long and hard about what they want from their franchisor/franchisee relationship before signing any franchise agreements. While Wok to Walk is the more established business, Wok&Go has demonstrated excellent growth potential and offers franchisees many exciting investment options. Both franchises are likely to reward intelligent franchisees with significant returns and make for a sound investment.

Other recent articles

0 Comments

post a comment

Characters remaining: 250