Finding it hard to locate an amazing steakhouse that serves quality meats and great service?
What if you could find one that offers a fantastic franchise opportunity so that you can not only enjoy the food but also enjoy the profit from running the business?
Franchising is an amazing choice when you’re looking to open up a business that already has an established reputation. But it also comes with a lot of responsibility on your part.
You are taking on the obligation of running a business that someone has already created. It’s their brand, their name, and their product or service. You’ll just basically be owning your part of the franchise.
So if you’re going to take on a franchise business, you had better make sure that it is a company and product that you truly enjoy and respect. Ruth’s Chris Steak House offers quite an excellent franchise opportunity for foodies.
Higher-class food that is. Delectable wines and superb steaks that are seared to perfection. But what about this business is so great?
Why would you want to open a franchise outlet for this company?
If you’re unsure, I’m here to answer these and many more important questions for you.
By the time we’re done here, you should be more educated on the process and qualities of the opportunity.
Contents
Ruth’s Chris Steak House Overview
Their motto is ‘the steak dinner, done right’. And they never fail to disappoint. Their steak dinners are often paired with delightful wines from Stag’s Leap Wine Cellar.
Imagine spending a date night with a beautiful ambiance and aromas of perfectly seared meats. Sharing a glass of high-quality wine with your loved one and enjoying a pleasant night out.
Ruth’s Chris Steak House provides this experience in a variety of locations around America. They offer over 200 labels of wine that is sure to fit any taste buds.
In all, their mission is to provide their customers with the absolute best steakhouse experience. They take pride in hospitality and generosity.
So if your eye is on Ruth’s Chris Steak House for a franchise outlet, it’s important for you to keep these standards as high at the owner.
While we’re on the subject, let’s step further inside this opportunity and get down to the nitty-gritty of the franchise opportunity.
Franchising Outlet Information
Franchising isn’t all fun and making money.
It takes a lot of knowledge, hospitality, and understanding of what makes the business work. Fortunately, there are already reports made up from previous franchise outlets to let you know if the business is worth getting into.
What exactly am I talking about here?
The growth of franchise outlets for one thing. Next would be the turnover rate. The turnover rate defines the health of the franchise opportunity.
It could possibly be one of the most important things that you take a look at when checking out the opportunity.
This rate is determined by taking the average from the terminations, non-renewals, and transfers; then divided by the current number of operating outlets.
And depending on the type of reasoning behind a franchise closing (or just non-renewal) this number can be good or very bad.
Ruth’s Chris Steak House currently has 20 operating franchise outlets (as of the end of 2016). Unfortunately, this number has decreased from 67 in the year 2010.
That alone can be a little hit to the opportunity. However, we aren’t 100% aware of the reasoning behind this, so there’s no telling to whether or not it’s a good thing.
As you can guess, the turnover rate is exceptionally low. Maybe because there has been a major decline in the number of operating outlets. The current turnover rate is 1.7.
Whereas the net growth average is at a -47. That is definitely a lower growth than what should be expected. But as I said, we don’t really know the true reasoning behind these numbers.
It could possibly be that the outlets are more expensive than before. Or that previous franchisees have decided to not renew their agreement. And that would bring us back to the turnover rate again.
The Nitty-Gritty Details
Now’s where we get to the good stuff. Cost, finances, and requirements for becoming a franchise owner.
If we’re going to get straight to the point, let’s talk about cost and investment.
To be exact, the franchise fee for Ruth’s Chris Steak House is $150,000. By the time all is said and done, however, you’ll have a total investment of anywhere from $2.5 million to $6 million.
No that’s a lot of cash! But you have to remember, this establishment is very classy and provides customers with decadent foods and wines.
The ongoing fees aren’t too bad compared to other industries like Ruth’s Chris Steak House.
Actually, the royalty fee is only 5%, while the advertising fee is only 1%. So you can definitely say that even after all of the investments, the profits would definitely be worth it. Especially since you’re not paying a high royalty fee.
If this franchising opportunity sounds like something you’d be interested in, there is a 20-year agreement requirement followed by a renewal for 10 years (if you choose to renew, that is).
The initial agreement term is double the amount of what competitors are requiring. But for that high cost of an investment, you might as well get your money worth.
Conclusion on the Franchise Opportunity
Franchising a business that’s already been branded and established can be both difficult and easier than if you were to build your own business from the ground up.
There are a lot of factors that you must consider before deciding if this is the best option for you.
Then you have to do your research on finding the right fit for the industry that you want to join.
Then you have to see if that establishment is even a good fit for you personally and professionally.
With the information I have given you on Ruth’s Chris Steak House franchise opportunity, I hope that you will take it with a grain of salt and even go a step further by asking the company some more important questions.
It’s crucial for you to gain as much knowledge as you can about the opportunity before diving into it.
Why Lead Generation Business Is Best & Why I Prefer This Scalable Business With 95% Profit Margin Versus 50% In Franchising
Let me give you a piece of my story.
Just after 7 months after I joined the lead generation coaching program, I manage to quit my job of 3 years after I graduated from Michigan State University.
I decided to leave my 3-year job after I received a 5% raise, which is equivalent to more or less $60 raise in my monthly income with taxes. It sucked the life out of me. I knew there’s something I could offer and I deserve more income than what I had received in the company I worked for.
In 2019, I am earning six-figures per year. That’s around $50,000 monthly in residual income. Can I get the same amount in other businesses? Probably.
As per personal experience—from MLM network marketing, Amazon FBA, drop shipping, and among others—I never had the same amount as my income in lead generation.
Given, this is why I prefer doing this over and over again. After all, it’s a scalable business. So, I don’t have to spend so much money on the initial startup compared to doing a franchising with only a few percent ownership.
I own a 100% for all my digital assets. And there are 88 operating lead gen sites on the worldwide web now and counting. In each lead gen, I earn passive income with 90 to 95% profit margin.
Why I sound cocky?
Because I know the lead generation will thrive and will last long. It’s the kind of business with the longest viability. Most of the business—small and big—rely on the internet to attract potential customers for various services and products.
Take a look at my first lead gen site I created for a Limo client in Lansing, MI. I haven’t touched anything on the website, yet I am earning $750 monthly income for 4 years now.
In 2019, most of them lurk around the search engine and social media in search of something to buy. This is why it is important, especially for the local and small businesses, to increase their online visibility.
Yet, the only thing they know is building a Facebook page or perhaps, building a website costing $$$ without guaranteed ROI. The former can be effective by creating several ads for testing, however, it doesn’t assure high-quality customers because of interruption marketing.
Therefore, small business owners will need help with their online presence for many years to come, making this business create an indestructible income because once the lead gen properties are live on the web, they generate free traffic & phone calls on autopilot.
Because of the automation and the system I learned from my mentor, Dan, I can spend my next 6 months without my laptop and internet without compromising my passive income. That’s the power of lead generation. This is why I love my business.
Take a look at my another client in Metro Detroit. It’s one of a few towing companies who risked and took my offer to help them leverage their income through my leads I deliver.
Now, they are more visible to their online market with 15 map listings all across the city, resulting in 10X his former business.
That’s the domination I’m talking about.
I create the leads, which is the bread and butter to small businesses, through the lead gen sites I barely touch after I create them and rank them on the web. This is done through ranking the sites well on Google’s search results by using the keywords their potential customers use.
This is what I have been enjoying for 4 years now. You can do the same, too, by attending our lead generation coaching program, wherein we’ll teach you how to improve your high-income skill to develop your financial confidence.
That confidence when you don’t have to worry whether your bank account is robbed or losing my digital assets because you know how to build your wealth fast.
According to my mentor, Dan Lok, knowledge can give you an idea to $$$ journey, but it won’t work unless if you have the skills go along with it. Nobody can steal your skill. You own it.
Not only it gives you a strong edge among online marketers out there, but it assures you the financial freedom you’re craving for a long time.
Like me, I had suffered financially 4 years ago. I only earned $2,000 monthly salary with taxes. For 3 years, I only had $36,000, which doesn’t equate to how much I had worked every single day.
But when I joined the lead generation coaching program, everything changed. My life has changed and so my social circle, including my family.
I’ve been self-employed since 2015. Thanks to Dan’s lead generation business model, I am dominating the internet with my digital assets generating a huge amount of leads for all my clients in need.
Go here and visit the lead generation coaching program and see yourself what I’ve been talking about.