Rank no.86 – Bojangles’ Restaurants Inc.- US

Products & Services: Cajun chicken, biscuits, iced tea

Number of Locations: 553

Total Investment: $357K – 553.75K

Founded: 1977

Began Franchising: 1978

About Bojangles’ Restaurants Inc.

Founded by Jack Faulk and Richard Thomas in 1977, Bojangle’s Restaurants serve made-from-scratch Cajun-style chicken, buttermilk biscuits and iced tea to customers throughout the southeastern United States.

Franchise Units

YEAR	U.S.	CANADIAN	INTERNATIONAL	COMPANY OWNED
2013	336	0	3	214
2012	320	0	2	203
2011	307	0	2	194
2010	288	0	2	188
2009	284	0	4	159

Where Seeking Franchisees: Franchisor is seeking new franchise units in the following states:
Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South, South Carolina, Southeast, Tennessee, Virginia, West Virginia.

Startup Costs, Ongoing Fees and Financing

Total Investment: $357,000 – $553,750
Franchise Fee: $25,000
Ongoing Royalty Fee: 4%
Term of Franchise Agreement: 20 years, renewable

FINANCIAL REQUIREMENTS

Net Worth: $1,000,000
Liquid Cash Available: $500,000

OPERATIONS

80% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 35 – 50. Absentee ownership of franchise is allowed. (100% of current franchisees are owner/operators).

FINANCING TYPE	IN-HOUSE	THIRD PARTY
Franchise Fee
Startup Costs
Equipment
Inventory
Accounts Receivable
Payroll

How This Franchise Supports Franchisees

Training: Available at headquarters: 6 weeks.

Ongoing Support: Meetings, Grand opening, Internet, Field operations/evaluations, Purchasing cooperatives

Marketing Support: Co-op advertising, Ad slicks, Regional advertising,

Franchise Ranking History

Franchise 500®: #86 (2013), #88 (2012), #207 (2011), #124 (2010), #158 (2009),

Fastest-Growing: #101 (2012), #79 (2010),

America’s Top Global: #75 (2012), #164 (2011), #98 (2010), #123 (2009),

Bojangles’ Famous Chicken ‘n Biscuits
“It’s BoTime!”
Type	Private
Industry	Food
Founded	1977
Founder(s)	Jack Fulk, Richard Thomas
Headquarters	Charlotte, North Carolina
Number of locations	close to 500^[1]
Key people	Randy Kibler (CEO)
Products	Fast food, including fried chicken, biscuits
Owner(s)	Advent International
Website	www.bojangles.com

Bojangles’ Famous Chicken ‘n Biscuits is a Southeastern regional chain of quick service restaurants based in Charlotte, North Carolina,^[2] specializing in spicy, “Cajun” fried chicken and buttermilk biscuits. The company was founded in Charlotte, North Carolina, in 1977 by Jack Fulk and Richard Thomas.

Ownership history[edit]

Jack Fulk sold the Bojangles’ concept to the now defunct New York company, The Horn & Hardart Company,^[3] in 1981.

Advertisement for Bojangles at Durham Athletic Park, North Carolina (1989)

During the time of Horn and Hardart’s ownership the chain grew rapidly and expanded to 335 restaurants including 100 restaurants in Florida. Part of this growth was fueled by acquisitions including the Florida-based Biskits chain.

In 1990, Horn and Hardart sold most of its interest to Sienna Partners and Interwest Partners. The company was then headed by former KFC executive, Dick Campbell. In 1994 the company attempted a public offering. Dick Campbell was subsequently replaced by CEO Jim Peterson. The company was sold to a group of investors headed by former Wendy’s executive Joe Drury and financed by FMAC in 1998.^[4]

Bojangles’ was purchased once again in 2007 by Falfurrias Capital Partners,^[5] a private equity firm. In August 2011, Falfurrias sold Bojangles’ to Boston-based Advent International, another private equity firm, led by operating partner Will Kussell, formerly of Dunkin’ Donuts.