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General

Industry

Food and Beverage

Category

Full-Service Restaurant

SBA Identifier

S0421

Year of Founding

2004

Fees

Marketing Fee

NA

Royalty Fee

5%

Franchise Fee

$50,000-$50,000

Investment Range

$373K-$1.82M

Location units

Total U.S. Locations

6

U.S. Franchised Units

2

U.S. Corporate Units

4

Headquarters (City)

San Luis Obispo

Other

Item 19 - Franchise Financials

No

Financing Availability

yes

Started Offering Franchises

2016

Issuance of FDD Data

01/01/2021

What to know about Cool Hand Luke'S Steakhouse/Saloon franchise?

The franchised business is a restaurant business serving lunch, dinner and alcoholic beverages during the hours of 11:00 A.M. to 9:00 P.M., or such other hours as agreed to with the Franchisor.

Cool Hand Luke'S Steakhouse/Saloon is based in San Luis Obispo, CA. Scroll down to learn more!

How much does a Cool Hand Luke'S Steakhouse/Saloon franchise cost?

Are you wondering how much is a Cool Hand Luke'S Steakhouse/Saloon franchise? Before starting a Cool Hand Luke'S Steakhouse/Saloon franchise, it is important to know the franchise fee, working capital and other costs required to start the business.

The minimum investment amount required to open a Cool Hand Luke'S Steakhouse/Saloon franchise is $373,000 and can go all the way up to $1,817,000. Keep in mind, you should also allocate additional funds to live off of while the Cool Hand Luke'S Steakhouse/Saloon business ramps up. This can take as little as 6 months to over 2 years depending on the franchise opportunity. You should speak to at least 5 Cool Hand Luke'S Steakhouse/Saloon franchisees to understand the true cost of opening the franchise and how long it takes to: 1) start a Cool Hand Luke'S Steakhouse/Saloon business 2) pass break even 3) hit significant income.

After (and if) you pass the point of earning significant income from your Cool Hand Luke'S Steakhouse/Saloon franchise, there may be enough margin to hire a day-to-day manager and work less hours in the business.

Franchise Net Unit Growth

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Download our guide to compare Cool Hand Luke'S Steakhouse/Saloon. Hotels to the Full-Service Restaurant, Outdoor Food and Beverage industry.

Franchise Data

Year Start of Year Units Opened Units Closed End of Year
2017 7 0 0 5
2018 5 0 3 2
2019 2 0 0 2
2020 2 0 0 2

Additional Details

How much does a Cool Hand Luke'S Steakhouse/Saloon franchise owner make?

Cool Hand Luke'S Steakhouse/Saloon franchise earnings and revenue can vary significantly from one franchisee to another.
The Cool Hand Luke'S Steakhouse/Saloon franchise owner profits can be influenced by labor costs, lease rates, hours worked as well as other factors.

Cool Hand Luke'S Steakhouse/Saloon unfortunately does not disclose financials on how much Cool Hand Luke'S Steakhouse/Saloon franchise owners make. This means they do not disclose sales or earnings for franchisees operating in the U.S.

Every franchisor is required by law to disclose income statements and balance sheets for how the franchisor is performing but not for the franchisee level. Unfortunately, Cool Hand Luke'S Steakhouse/Saloon does not make it easy to understand franchisee financial performance. This can be seen as a red flag and it is important to be that much more diligent in your conversations with Cool Hand Luke'S Steakhouse/Saloon franchisees. Do note that Cool Hand Luke'S Steakhouse/Saloon is not alone as about 40% of franchises do not disclose franchisee financial performance.

At Vetted Biz, we suggest you to speak with 5 to 10 Cool Hand Luke'S Steakhouse/Saloon franchisees to understand how much money they are making from their Cool Hand Luke'S Steakhouse/Saloon business.

You should also speak to former Cool Hand Luke'S Steakhouse/Saloon franchisees to understand why they left the system. Did they sell their Cool Hand Luke'S Steakhouse/Saloon at a profit? Were they forced to close their Cool Hand Luke'S Steakhouse/Saloon franchise down because it kept losing money?

What is the Cool Hand Luke'S Steakhouse/Saloon franchise fee?

Owning a Cool Hand Luke'S Steakhouse/Saloon franchise requires 5% royalty fee and a variable marketing fee. These two expenses represent the main ongoing costs you can expect to pay the franchisor throughout the franchise relationship. There may be other ongoing fees disclosed in the Cool Hand Luke'S Steakhouse/Saloon Franchise Disclosure Document

Keep in mind, there is also an initial Cool Hand Luke'S Steakhouse/Saloon franchise fee of $50,000 that is included in the initial investment amount of $373,000 to $1,817,000. Depending on the franchise agreement you sign, you might have to pay the full franchise fee again if you decide to extend the Cool Hand Luke'S Steakhouse/Saloon franchise relationship. Consult with a licensed franchise attorney to understand exactly what you receive for paying the Cool Hand Luke'S Steakhouse/Saloon franchise fee of $50,000.

Visit the Cool Hand Luke'S Steakhouse/Saloon metrics tab to explore the financials for this business, royalty and marketing fees compare to other Food and Beverage franchises. You can also compare these fees for 2,000+ franchises currently offered in the U.S.

When was Cool Hand Luke'S Steakhouse/Saloon founded?

Cool Hand Luke'S Steakhouse/Saloon started offering franchises in 2016. Cool Hand Luke'S Steakhouse/Saloon was founded 18 years ago in 2004.

At Vetted Biz, we recommend franchises have 3-5 corporate locations and 5+ years of experience before offering a franchise. There needs to be proof that the business model works and is replicable before offering the franchise to other!

How many Cool Hand Luke'S Steakhouse/Saloon locations are in the U.S.?

As of 2021, there were 2 locations across the U.S. There are also 4 corporate locations. Most Food and Beverage franchises like Cool Hand Luke'S Steakhouse/Saloon have more franchised locations than corporate locations.

How many Cool Hand Luke'S Steakhouse/Saloon franchises opened over the past few years?

Over the prior 3 years we have data for, Cool Hand Luke'S Steakhouse/Saloon has opened 0 outlets throughout the U.S. Visit the Cool Hand Luke'S Steakhouse/Saloon metrics tab to explore how the openings compare to other Food and Beverage franchises.

How many Cool Hand Luke'S Steakhouse/Saloon franchises closed over the past few years?

Over the prior 3 years we have data for, Cool Hand Luke'S Steakhouse/Saloon has closed 3 outlets throughout the U.S

Visit the Cool Hand Luke'S Steakhouse/Saloon metrics tab to explore how the openings compare to other Food and Beverage franchises.

Is Cool Hand Luke'S Steakhouse/Saloon growing? Are they opening more locations than they are closing?

The net unit growth rate for Cool Hand Luke'S Steakhouse/Saloon over the past 3 years is -60%. Over the last year we have data for, Cool Hand Luke'S Steakhouse/Saloon had a net unit growth rate of 0%.

Without a comparison, this number doesn’t mean much. Compare how the Cool Hand Luke'S Steakhouse/Saloon growth rate compares to 2,000+ other franchises and Industry franchises like Cool Hand Luke'S Steakhouse/Saloon. More info in the Cool Hand Luke'S Steakhouse/Saloon metrics tab.

Is Cool Hand Luke'S Steakhouse/Saloon franchise eligible for an SBA Loan?

Cool Hand Luke'S Steakhouse/Saloon is eligible for SBA loans including the 7(a) loan. To find out more about the SBA loan program for franchising click here.

Cool Hand Luke'S Steakhouse/Saloon franchise was assigned the SBA Franchise ID of S0421 on 10/01/2017. This DOES NOT mean the SBA endorses this franchise. The SBA Franchise Directory will only include business models like Cool Hand Luke'S Steakhouse/Saloon that are reviewed and found eligible under SBA’s affiliation rules and other eligibility criteria. Currently, there are over 7,000 franchise opportunities that the SBA has deemed eligible for SBA financing.

Is Cool Hand Luke'S Steakhouse/Saloon a franchise in the United States?

According to the SBA, Cool Hand Luke'S Steakhouse/Saloon meets the Federal Trade Commission (FTC) definition of a franchise. The FTC Franchise Rule requires franchisors to provide all potential franchisees with a disclosure document (FDD) containing 23 items about the franchise, its officers, and other franchisees. Be sure that Cool Hand Luke'S Steakhouse/Saloon provides you with an FDD if you are in discussion to buy a Cool Hand Luke'S Steakhouse/Saloon.

What is the Cool Hand Luke'S Steakhouse/Saloon Franchise for Sale Rate?

The Cool Hand Luke'S Steakhouse/Saloon systemwide health and franchisee satisfaction can be measured by the Cool Hand Luke'S Steakhouse/Saloonfranchise for sale rate. The franchise for sale rate is calculated by the percentage of units transferred to new franchisees and reacquired by franchisor.

Cool Hand Luke'S Steakhouse/Saloon franchise for sale rate over the past 3 years is 0%. Over the last year we have data for, Cool Hand Luke'S Steakhouse/Saloon had a franchise for sale rate of 0%.

Without a comparison, this number doesn’t mean much. Compare how the Cool Hand Luke'S Steakhouse/Saloon franchise for sale rate compares to 2,000+ other franchises and Industry franchises like Cool Hand Luke'S Steakhouse/Saloon. More info in the Cool Hand Luke'S Steakhouse/Saloon metrics tab.

What is the Cool Hand Luke'S Steakhouse/Saloon Franchise Failure Rate?

Cool Hand Luke'S Steakhouse/Saloon franchise failures comprise franchise terminations, franchise non-renewals, and franchises that ceased operations for other reasons. The failure rate is one of the most important franchise metrics to consider when investing in a franchise!

Cool Hand Luke'S Steakhouse/Saloon failure rate over the past 3 years is 150%. Over the last year we have data for, Cool Hand Luke'S Steakhouse/Saloon had a franchise failure rate of 0%.

Without a comparison, this number doesn’t mean much. Compare how the Cool Hand Luke'S Steakhouse/Saloon franchise for sale rate compares to 2,000+ other franchises and Industry franchises like Cool Hand Luke'S Steakhouse/Saloon. More info in the Cool Hand Luke'S Steakhouse/Saloon metrics tab.

How can I find out more details on Cool Hand Luke'S Steakhouse/Saloon franchise?

Visit the Cool Hand Luke'S Steakhouse/Saloon metrics tab to explore franchise profitability, industry comparables and more. Become a Vetted Member today today for exclusive access on this franchise opportunity!

Investment Midpoint

The average of the low and high range of the investment amounts calculated from the most recently available Franchise Disclosure Document

Cool Hand Luke'S Steakhouse/Saloon

$1,095,000

Industry median

All franchises median

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Royalty Fee

The median royalty fee from the Franchise Disclosure Document

Cool Hand Luke'S Steakhouse/Saloon

5%

Industry median

All franchises median

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Franchise Fee Midpoint

Payment that the franchisee must pay to the franchise owner in order to start a franchise.

Cool Hand Luke'S Steakhouse/Saloon

$50,000

Industry median

All franchises median

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Item 19 – Financial Performance Representations

Historical financial performance representations

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Franchise Financials

Franchisor company financial information and financial performance representations, if disclosed by the franchisor.

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Franchise Disclosure Document

Download Latest FDD (2021)

General

Industry

Food and Beverage

Category

Full-Service Restaurant

SBA Identifier

S0421

Year of Founding

2004

Fees

Marketing Fee

NA

Royalty Fee

5%

Franchise Fee

$50,000-$50,000

Investment Range

$373K-$1.82M

Location units

Total U.S. Locations

6

U.S. Franchised Units

2

U.S. Corporate Units

4

Headquarters (City)

San Luis Obispo

Other

Item 19 - Franchise Financials

No

Financing Availability

yes

Started Offering Franchises

2016

Issuance of FDD Data

01/01/2021

Detailed Franchise metrics for Cool Hand Luke'S Steakhouse/Saloon

Detailed Franchise Metrics are metrics calculated and reviewed by Vetted Biz. You can find the available metrics for Cool Hand Luke'S Steakhouse/Saloon below. “N/A" or Not Applicable results mean that there is not enough data available to compute a precise rate or that the result is not mathematically computable. When results are not mathematically computable, you should pay attention to the absolute values (#) instead of the percentage rate itself.

Franchise Fee Midpoint

Payment that the franchisee must pay to the franchise owner in order to start a franchise.

Cool Hand Luke'S Steakhouse/Saloon

$50,000

Industry median

All franchises median

Unlock premium content

Franchise Disclosure Document

Download Latest FDD (2021)

Failure Rate

Franchise failures comprise franchise terminations, franchise non-renewals, and franchises that ceased operations for other reasons.

 

1 year

3 years

Cool Hand Luke'S Steakhouse/Saloon

NA

150%

Industry median

All franchises median

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Franchise for Sale Rate

The percentage of units transferred to new franchisees and reacquired by franchisor.

 

1 year

3 years

Cool Hand Luke'S Steakhouse/Saloon

NA

0%

Industry median

All franchises median

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Business details

Website

https://***********.com

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Business email

**********@******.com

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Mailing address

51 Zaca Lane, Suite 140

State headquarters

California

Key leadership

Cool Hand Luke'S Steakhouse/Saloon

Phone

+1 (000) 0********00

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City

San Luis Obispo

Zip code

93401
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