If you are looking for a second source of income, you have just made a step in the right direction for a stable profit and socially demanded business. At Astoria, offer you transparent and long term conditions which are constructed to suite your interests. We ask you to send us your requirements to our representatives.
Q: How Can I Open an Astoria restaurant?
Astoria is actively seeking highly qualified restaurant investors and operators to become franchisees and partners. We are looking for investors with prior restaurant experience, sufficient financial resources. Knowledge and connections with the community of your area are important factors in our selection process.
Q: What are the financial requirements to open an Astoria restaurant?
The initial cost of building an Astoria restaurant ranges from $150,000 – $250,000. This includes construction, furniture, fixtures, equipment, legal fees, working capital and other expenses. Part of this investment is the initial franchise fee, which is $25,000. The total cost of each restaurant varies by size and location.
Q: What are the qualifications to become an Astoria franchisee?
Individuals or groups are required to show a minimum of $200,000 in liquid assets per store, (e.g., Cash, marketable securities, stocks) combined with an overall net worth of $300,000 per store to qualify. In addition, we are looking for individuals or groups for territory development rights in any part of the United States. You must have the resources necessary to develop a territory and the financial requirements are based upon the number of restaurants in your area.
Q: How long does it take to open an Astoria restaurant?
Based on our experience each location is different and depends on a variety of factors including site selection, construction, permissions and training. It typically takes approximately 5-7 months from signing the franchise agreement to opening day. However, as you gain experience, the development time should be reduced for other units.
Q: What kind of training can I expect as a franchisee?
The franchise group’s control person and all management participate in a 5 weeks training program at the Astoria Training Center located in Dallas, Texas. Additionally, we provide an opening training team to provide on-site pre-opening and opening training, supervision and assistance to you for a minimum of 2 weeks. Once completed, franchisees receive regular updates to their training, including on-site visits and operation reviews.
Q: What are the site requirements for an Astoria restaurant?
Restaurants are 15,000-2,000 square feet. Prime locations that have excellent visibility and easy access are most desirable. In addition, sites should be located in high traffic areas with above-average daytime and residential demographics.
Q: How much can I make as an Astoria franchisee?
Net Profit can vary a lot depending on a number of factors such as the business skills and drive of the franchisee, market conditions, the local economy and the quality and makeup of a particular shopping center or mall. You will have a chance to speak with our current Astoria Franchisee and learn from their experiences with the business.
Q: Once I become a franchisee, will I be operating myself?
No, in addition to the initial training programs, we provide ongoing support through our Operations Manual, SOPs and direct access to a Franchise Business Development Manager who is experienced in all aspects of Astoria restaurant operations and management. In addition, our online portal provides the most current information and updates that are important to your daily operations.
Q: What are the average unit sales volumes of an Astoria restaurant?
2014 average unit volumes for Astoria stores open longer than a year is $1 million.
Q: What is the term of the franchise agreement?
The initial term of your Astoria franchise agreement is 5 years.
Q: What is the availability for opportunities in my area?
Due to the overwhelming amount of interest in Astoria franchises, we are only accepting applications from the best investors and operators in the cities. Currently, we are evaluating many new cities throughout the U.S. Contact our Franchise Development Department for availability in your City.
Attention Millennial Parents and Grandparents – Want to do something special for your millennial-aged young person? As we approach tax time, you are familiar with the benefits of retirement savings for yourself and your spouse. Savings for retirement defers the taxes you will pay, and in some cases, like with a Roth IRA, you can avoid paying any additional taxes on the money you invest as well as all future earnings.
Well, the same works for your millennial children or grandchildren. After all, they have their entire lives ahead of them. A twenty-something individual has at least 40+ years until they are of retirement age. Who is better suited for benefitting from growth over time?
Say for example you have a grandson who is nineteen years old in their second year of college we’ll call him Nathan.
Nathan is in his second year of college, and works part time earning about $8500 a year. Did you know that Nathan is eligible for a Roth IRA up to $5500 for the (2016) year? Well, the odds are that Nathan himself can’t afford to invest in his Roth IRA at all, after all, he’s a college student and he needs all the extra spending money he can earn. But his parents or grandparents can help him by gifting him the funds.
“We starting doing this with our granddaughter Jessica”, said Maggie S. of Fort Lauderdale, FL, “when she was 17 years old, she worked part-time and earned like under $5000 for the year. We sat down and talked with her about the incredible benefits of compounding interest and dividends and we told her we would do this for her as long as she agreed to not touch the money until she is at least 65. We even had her sign a letter agreeing to this. Now for the last three years, we have deposited between two and three thousand a year in a Roth IRA. We have it invested in a low-cost total stock market index fund.”
If you want to create a real legacy with long-term benefits, getting your millennially-aged kids into Roth IRA’s at an early age can be huge. For example, if for five years, you invest $2000 each year into a Roth IRA, starting when they graduate from high school – here is an example of the potential long-term growth of this very small initial $10,000 investment.
$10,000 investment’s potential growth over 45 years with all dividends and interest reinvested:
Warren Buffet was recently asked, with his vast wealth of investing knowledge, how would he invest for retirement. He stated that he would keep it very simple. Invest 90% in a low-cost S&P 500 Stock Index Fund and 10% keep in cash or short-term government bonds. You can read his comments by CLICKING HERE
So, keeping it simple, with all the market ups and downs, what has been the historical yearly rate of return of the total stock market since 1966? 11.79%