Rank no.86 – Bojangles’ Restaurants Inc.- US
Products & Services: Cajun chicken, biscuits, iced tea
Number of Locations: 553
Total Investment: $357K – 553.75K
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.
Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South, South Carolina, Southeast, Tennessee, Virginia, West Virginia.
Startup Costs, Ongoing Fees and Financing
Franchise Fee: $25,000
Ongoing Royalty Fee: 4%
Term of Franchise Agreement: 20 years, renewable
Net Worth: $1,000,000
Liquid Cash Available: $500,000
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|
How This Franchise Supports Franchisees
Franchise Ranking History
|Founder(s)||Jack Fulk, Richard Thomas|
|Headquarters||Charlotte, North Carolina|
|Number of locations||close to 500|
|Key people||Randy Kibler (CEO)|
|Products||Fast food, including fried chicken, biscuits|
Bojangles’ Famous Chicken ‘n Biscuits is a Southeastern regional chain of quick service restaurants based in Charlotte, North Carolina, 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.
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.
Bojangles’ was purchased once again in 2007 by Falfurrias Capital Partners, 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.