The HoneyBaked Ham Company & Cafe vs My Friend's Place Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of The HoneyBaked Ham Company & Cafe vs My Friend's Place including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees
  The HoneyBaked Ham Company & Cafe My Friend's Place
Investment 292900 - 567600 156650 - 260400
Franchise Fee 0
Royalty Fee 6% 5%
Advertising Fee 3.25% 1%
Year Founded 1957 1980
Year Franchised 1998 1980
Term Of Agreement
Term Of Agreement
Renewal Fee


Business Experience Requirements
  The HoneyBaked Ham Company & Cafe My Friend's Place
Experience Industry experience General business experience Marketing skills

Financing Options
  The HoneyBaked Ham Company & Cafe My Friend's Place
 
Franchise Fees No
Start-up Costs No
Equipment No
Inventory No
Receivables No
Payroll No

Training & Support
  The HoneyBaked Ham Company & Cafe My Friend's Place
Training Comprehensive two-week training, both in-store and in a classroom. Ongoing training through conferences and webinars. On-The-Job Training: 97 hours Classroom Training: 25 hours 1. Headquarters 12 Business Days 2. Franchisee Site 12 Business Days
Support Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform Field Operation Evaluation Field Training: At Additional Cost Initial Store Opening Inventory Control: At Additional Cost
Marketing Co-op advertising, Ad slicks, National media, Regional advertising
Operations 25% of all franchisees own more than one unit Number of employees needed to run franchised unit: 7 - 10 Absentee ownership of franchise is allowed. (100% of current franchisees are owner/operators) Average Number of Employees: 2 Full-time, 2 Part-time Passive Ownership: Not Allowed

Expansion Plans
  The HoneyBaked Ham Company & Cafe My Friend's Place
US Expansion Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming Alabama, Florida, Georgia, Indiana, South Carolina, Texas
Canada Expansion
International Expansion

Start-Up Costs and Fees Mobile
Investment
The HoneyBaked Ham Company & Cafe
My Friend's Place
Franchise Fee
The HoneyBaked Ham Company & Cafe
My Friend's Place
Royalty Fee
The HoneyBaked Ham Company & Cafe 6%
My Friend's Place 5%
Advertising Fee
The HoneyBaked Ham Company & Cafe 3.25%
My Friend's Place 1%
Year Founded
The HoneyBaked Ham Company & Cafe 1957
My Friend's Place 1980
Year Franchised
The HoneyBaked Ham Company & Cafe 1998
My Friend's Place 1980
Term Of Agreement
The HoneyBaked Ham Company & Cafe 7 years
My Friend's Place
Renewal Fee
The HoneyBaked Ham Company & Cafe
My Friend's Place


Business Experience Requirements
Experience
The HoneyBaked Ham Company & Cafe Industry experience General business experience Marketing skills
My Friend's Place

Financing Options
 
Franchise Fees
The HoneyBaked Ham Company & Cafe No
My Friend's Place No
Start-up Costs
The HoneyBaked Ham Company & Cafe
My Friend's Place
Equipment
The HoneyBaked Ham Company & Cafe}
My Friend's Place
Inventory
The HoneyBaked Ham Company & Cafe
My Friend's Place
Receivables
The HoneyBaked Ham Company & Cafe
My Friend's Place
Payroll
The HoneyBaked Ham Company & Cafe
My Friend's Place

Training & Support
Training
The HoneyBaked Ham Company & Cafe Comprehensive two-week training, both in-store and in a classroom. Ongoing training through conferences and webinars. On-The-Job Training: 97 hours Classroom Training: 25 hours
My Friend's Place 1. Headquarters 12 Business Days 2. Franchisee Site 12 Business Days
Support
The HoneyBaked Ham Company & Cafe Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform
My Friend's Place Field Operation Evaluation Field Training: At Additional Cost Initial Store Opening Inventory Control: At Additional Cost
Marketing
The HoneyBaked Ham Company & Cafe Co-op advertising, Ad slicks, National media, Regional advertising
My Friend's Place
Operations
The HoneyBaked Ham Company & Cafe 25% of all franchisees own more than one unit Number of employees needed to run franchised unit: 7 - 10 Absentee ownership of franchise is allowed. (100% of current franchisees are owner/operators)
My Friend's Place Average Number of Employees: 2 Full-time, 2 Part-time Passive Ownership: Not Allowed

Expansion Plans
US Expansion
The HoneyBaked Ham Company & Cafe Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming
My Friend's Place Alabama, Florida, Georgia, Indiana, South Carolina, Texas
Canada Expansion
The HoneyBaked Ham Company & Cafe
My Friend's Place
International Expansion
The HoneyBaked Ham Company & Cafe
My Friend's Place