Frequently Asked Questions
It can take four months or more from beginning the process to opening your first unit.
- $150,000 in liquid assets. This includes anything besides home equity that can be converted to cash within 30 days.
- Net worth of $500,000
- Strong Credit History
How can I finance this investment?
- SBA Guarantee Loan Program
Miami Grill® is an approved franchise on the SBA National Registry. Franchise Registry Approved Brands means that the franchisor’s agreement governing the relationship and any related documents must be reviewed. The SBA requires this review to insure the applicant and franchise are eligible for SBA financing. This does not guarantee that a loan will be approved it is only a part of the requirements necessary to apply. Others include:
- 401 k rollovers (Rollovers for Business Start-ups aka ROBS)
- Unsecured Loans
- Portfolio Loans
- Equipment Leasing
- Buyout of existing franchisee
- Equity Partner
- 1031 exchange
Yes, you may own more than one unit. You may secure additional units by either being a multi-unit operator or an area developer.
Yes. An area developer pays a predetermined territory fee to secure protected development rights to a specific geographic area. The area developer and Miami Grill will agree upon the number of units to be developed within the territory and a timetable for opening them.
Expect to hire between 20 and 25 full and part-time employees.
Your Miami Grill team will assist you in creating the best local-market opening plan for your restaurant and will work toward "pre-seeding" your market ahead of opening. We believe in community involvement and are committed to giving back to each community we serve. Miami Grill will help you make lasting impressions with civic groups, schools and businesses to set you on the path to success. Support for your location will be provided on an ongoing basis.
Miami Grill® ’s training and support is an immersion program designed to allow an individual that has no restaurant experience to learn the business. We seek individuals with multi-unit experience. If you have restaurant experience the ramp up time will be quicker. That experience can be a true asset. However, we have franchisees in our system that are doing well with no prior experience. It’s all about passion for the brand and a drive to succeed.
We have territories available throughout the United States and worldwide! Many great regions for multi-unit owners are available. We offer exclusive territories with a 3-5 restaurant deal. We are also seeking Area Developers to assist us in growing larger territories.
A franchise is all about relationships. This is a long-term relationship. We will start to explore if we are suited for each other. It’s a mutual due diligence process. Are we right for you and are you right for us? During this time, we get to find this out.
It starts with you filling out our initial application and our Non-Disclosure agreement. This allows us to share some proprietary information with you about Miami Grill®. (which does not obligate you or us in anyway).
We will then set up a time for discussing this further and answering questions you will have.