February 27, 2023. is a fast-food franchise restaurant chain that primarily serves American Chinese food. What is the upfront requirements to own an Panda Express franchise? 2. Being a part of the Panda Express franchise family means youre in good hands knowing that the company is continuously growing. This is probably due to the fact that there exist many more Panda Express corporate units than franchised units, which could be a sign that Panda Express invests most of its energy and resources into internal development instead of to their licensed/franchised system. It is important to note that these financial representations only showcase the figures for gross sales, there is no information on the net profit of the average franchisee. The chain store was founded by Andrew Cherng, Peggy Cherng, and Master Chef Ming Tsai Cherng, Andrews dad, in 1983. The total investment is estimated between $116,000-$263,000 in the USA and $102,000-$234,000 in Canada. In order for us to assess whether investing in a Panda Express franchise is a good investment, we must look at the payback period. In spite of massive growth, Panda Express is still considered a family business with couple Andrew and Peggy Cherng at the helm. Working with a brand that is already recognizable, gives you the courage to start your own business without much risk. Can You Franchise a Chipotle? Does panda express franchise. 1223. This number can vary depending on the location of the restaurant. Franchise Fee: This amount can vary, depending on the . Also, their expenses are relatively small compared to their revenue, meaning that they are able to make a significant net profit according to their income statement. As with all business ventures, a franchise is not a guaranteed success. Many of these are one-time fees that are needed to launch the franchise. And the sis. In 2007, Panda Express revenues hit $1 billion for the first time ever. Review | Cost & Profit, Ekart Logistics Franchise [Cost, Profit & Process], FirstCry Franchise [Cost, Profit, & Eligibility], How to Get Big Bazaar Franchise [Cost, Profit & Process], Yewale Tea Franchise Full Details | Cost | Contact No. According to their FDD, Panda Express anticipates that most of their franchises will operate in captive venues under licensing agreements, such as airports, hospitals, casinos, and other similar facilities. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'businessmaza_com-large-mobile-banner-2','ezslot_5',119,'0','0'])};__ez_fad_position('div-gpt-ad-businessmaza_com-large-mobile-banner-2-0');if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'businessmaza_com-large-mobile-banner-2','ezslot_6',119,'0','1'])};__ez_fad_position('div-gpt-ad-businessmaza_com-large-mobile-banner-2-0_1');.large-mobile-banner-2-multi-119{border:none!important;display:block!important;float:none!important;line-height:0;margin-bottom:7px!important;margin-left:auto!important;margin-right:auto!important;margin-top:7px!important;max-width:100%!important;min-height:250px;padding:0;text-align:center!important}This is a very nice initiative started by the Panda Express group to help the needy. The Orange Chicken entree was invented by Chef Andy Kao for Panda Express. Below is a chart that showcases the most important of the financial information given by Panda Express their average gross sales by location, median gross sales by location, minimum gross sales by location, and maximum gross sales by location. A restaurant located in an airport or a casino has sales 2x times higher vs. a restaurant located in a hospital or a university. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); An optional description where you can introduce yourself and your related expertise for what you are selling. If youve been to a Panda Express then you know that they have an extensive menu. Airport Total; Average Gross Sales: $1,191,246: $713,553: Minimum Gross Sales: $184,872: $123,104: Median Gross Sales: $995,281: $528,794: . At the end of the year, Panda Express had 2,099 company-owned units. Think Panda Express is the right franchise for you, or are you interested in other franchise opportunities in the Food and Beverage industry? It takes a lot of blood, sweat, tears, and money, so making sure youre buying into the best franchise for you is of the utmost importance. Opening a franchise is not something that can be done overnight. How much does a Panda Express franchise cost? It features eight quality ingredients: thin strips of juicy all-white-meat chicken breast, diced Chinese sausage, red and green bell peppers, celery, fermented black beans, and whole dry chili peppers with a rich, spicy, and savory sauce. Even though the 30% margin is on the higher-end of similar franchises, the Franchise Disclosure Document of Panda Express doesnt give much details on how much you should spend in marketing. Of course these are estimates based on similar franchise concepts. Panda Express is one of the best selling Chinese restaurants in the world. Panda Express Franchise Benefits Panda Express Franchise Benefits your business in many ways. To own a Panda Express, your liquid assets would are estimated between $100,000 to $250,000. Use Our Free Financial Calculator, How Much Is a Chipotle Franchise? Panda Express has policies in place to help ensure the continuity of flavors and quality across all of their locations. Panda Express serves Chinese-cuisine-inspired dishes such as Kung Pao chicken, orange chicken, sweet fire chicken breast, teriyaki chicken, and Beijing beef. People love more choices and Panda Express keeps introducing new choices. Cherng implemented tracking inventories as well as a computerized system for reordering ingredients which made the business process faster and easier, something that other Chinese-American restaurants werent practicing during those times yet. A family-run company, Panda Express has historically retained a high degree of control over its business, and most of its outlets are company run. As such, you should make your decision by selecting the specific format of franchise restaurant you intend to open. Many also deem them to be healthier compared to fast-food. posted on. What the Total Cost (w/ Fees) to Open a Boiling Crab? For having Panda Express, you can choose your territory. The initial licensing fee for taking on a Panda Express restaurant is $25,000 (Item 6, FDD 2021). This is an important factor that one should consider before starting a franchise. These are chicken bites with a sweet and spicy orange sauce. How does this compare to other franchises in the food and beverage industry? This does not include the Panda Express Owner Salary. Panda Express Franchise Fee $25,000 Panda Express is a successful and growing restaurant chain that has proved very popular with customers. If its an Asian-American restaurant chain youre evaluating, Panda Express would be one of the top opportunities Id take a look at. We walked in and everyone was lined up to get their food at the buffet line, the servers put the food on the plate for you. Here is some info that will let you know about the profits, turnovers from Jimmy John's franchise. We treat each other with respect and seek win-win relationships with Guests, business partners and our communities. It has been around for over 30 years with no sign of stopping. If you do not have the liquid capital to purchase the franchise license outright, they will set up payment terms with you. Because of this, a new franchise owner can expect to draw in customers who have already tried Panda Express and enjoyed it, as well as those who have not yet tried it, but are curious. Other places where Panda Express can be found include Dubai, Canada, Philippines, Japan, Puerto Rico, Guam, and South Korea. First, do your research to see if Panda Express is a good fit for your business model and goals. In addition, it also offers honey walnut shrimp, black pepper Angus steak, mushroom chicken, and eggplant tofu. According to their website, theyve sold over 80 million pounds of orange chicken since 2016. They offer certain financing options within Item 10 of their FDD. I think would be very big here. By purchasing a franchise of a company that already has a strong following, you are opening yourself up to their customer base. Meanwhile, on the high end, one of the franchisees made a $357,512 net profit for the 2021 calendar year. The net change of Panda Express corporate units was +53 units. Panda Express has an initial franchise fee of up to $25,000, with a total upfront investment range of $426,700 to $2,404,000. Since 1983, they have opened over 1,000 locations in the United States, and have even gone international. What to Expect in a New Panda Express Restaurant. With this connection, they were able to expand their restaurant concept into food courts, creating the now-known fast food restaurant Panda Express. Initial Franchise Fee: $25,000 Total Investment: $426,700 to $2,404,000 Working Capital: $60,000 to $110,000 Royalty Fee: 8.0% Can You Finally Open a Raising Canes Franchise? Youd think with over 2,200 locations, Panda Express would be struggling to find new markets to enter. The richest restaurant owner in the world is probably Amazon.com Inc. CEO Jeff Bezos has a net worth of $148 billion as of 2019, according to Forbes. How To Start A Panda Express Franchise In 2022. Your email address will not be published. Win-Win. To deliver exceptional Asian dining experiences by building an organization where people are inspired to better their lives. As a result, the company has targeted opening on university campuses, airports, amusement parks, and even casinos. The chain has enjoyed double-digit percentage revenue growth in similar growth as well. And I am very thankful to my mentor who taught me the high income skills of local lead generation using free traffic. 2011 The first international Panda Express restaurant opened in Mexico City. The investment payback period is the time (in years or in months) it takes an investor (or a franchisee) to reimburse her/his original investment. The headquarters for Panda Restaurant Group Inc. is located in Rosemead, California. To help with this, Panda Express does offer assistance with financing to help you fund your dream of opening a restaurant. Your email address will not be published. You also have less freedom to adapt your business, both in its style and in how its run. But even to this day, the restaurant chain is continuing to expand. In 2011, there were about 1,386 Denny's franchises in the USA. Franchise Review:Can You Finally Open a Raising Canes Franchise? To own a Panda Express, your liquid assets would are estimated between $100,000 to $250,000. How much does it cost to open up a Panda Express? Panda Express restaurants were traditionally located in shopping mall food courts, but the chain now operates units in many other environments and formats, including stand-alone restaurants, as well as universities, casinos, airports, military bases, amusement parks and other venues. Becoming a part of the Panda Express community is a big choice, but, when done right, can mean the start of a whole new career, and life. But sometimes, long lines can be a disadvantage and have people opt for some other place that can accommodate them at once. Yes, the majority of their revenue comes from royalty income, and this could be due to the fact that Panda Express charges a relatively high royalty fee at 8%, compared to the franchise average of 6%. It started in 1983 by Andrew Cherng and Peggy Cherng. Should that happen, your business is effectively dead. Panda Express has a franchise fee of up to $25,000, with a total initial investment range of $370,700 to $1,552,600. Is the Panda Express Franchise Right For You? The following costs are part of the upfront costs included in the initial investment. The initial license term is 10 years, and it can be renewed for 5 years at a time. Overall, Panda Express is a profitable business, making almost $9,500,000 in 2020. The company has more than 2,200 locations globally. Though the high traffic is good for business, it can also drive potential customers away. With this connection, they were able to expand their restaurant concept into food courts, creating the now-known fast food restaurant Panda Express. 13 Things You Didn't Know About Panda Express Slideshow 2022-11-14 Does panda express franchise Rating: 9,5/10 569 reviews Panda Express is a fast food chain that originated in California in 1983 and has since become a popular chain with locations across the United States and internationally. Chinese food never becomes out of fashion. How much does a Panda Express franchise owner make? A wok at Panda Express. Giving the employees the salary they deserve and keeping them happy and safe in their work is important as well. Also Read:- Xpressbees Franchise [Cost, Eligibility, Requirements]. How much does it cost to open a Panda Express Franchise? Crew Member $14.31 per hour. Chinese cuisines, such as orange chicken, Kung Pao chicken, Teriyaki Chicken, and Beijing Beef are the most food available at its outlets. And American-Chinese cuisine adds cherry to the cake. Need help? Panda Express has a franchise fee of up to $25,000, with a total initial investment range of $426,700 to $2,404,000. Company standards and guidelines must be adhered to, or the risk of losing the franchise abounds. Read our latest article to learn how much it costs to open a Panda Express franchise in 2022. Cashier $14.25 per hour. You will not have hundreds of thousands of people who have already tried the product and want to have it again. Teriyaki Madness is also open for franchisees. Out of all the roles listed, restaurant managers and general managers bring in the most pay per hour, with hourly rates of $18.82 and $18.92, respectively. Initial . They dont provide a path for franchisees on the website, and because they run most of their restaurants directly, theres little information out there about the application process. A positive net growth score is indicative of a healthy, well-balanced system. $25,000 is the initial fee for a Panda Express franchise (licensed store). Investment Details Please note that as of 2023 Panda Express doesnt offer any franchise. Panda Express is currently enjoying a positive net growth, meaning that more of their restaurants are opening than closing. While these pay rates may be worth bragging about to some, you may be surprised to know how they stack up when compared to the CEOs of Panda Express, Andrew and Peggy Cherng. Looking at the income statement for how much the owners . They maintain their standard by keeping their food authentic. ), Franchises: 150+ templates built specifically for franchisees, from restaurants, gyms, home services and more. You should have high financial stability. The current going rate for royalties is 8% of sales. and even more for top performing locations. At this point, Panda Express enjoys economy of scale and can negotiate with vendors to reduce the cost of ingredients. This initial license fee needs to be settled down before opening a Panda Express franchise. We are committed to great operations and upholding our operating culture in our restaurants and Support Center. This corresponds to a 30% adjusted EBITDA margin. The demand for Chinese food never depletes. Low confidence. The chain offers a wide variety of menu items like orange chicken, sweet fire chicken breast, grilled teriyaki chicken, honey walnut shrimps, fresh salads, etc. Real estate prices and costs of living vary greatly in different parts of the country, or world, making it impossible to predict exact start up costs. The average American franchise earned about $85, 000 per year in income. Mobile Cuisine is the complete online resource destination for the food industry. Its starting your own business, but also buying into someone elses brand. For more than 30 years, Panda Express has been recognized as one of the big names in fast-casual. Please renew to keep using our services. Im sorry we are crowded, but if you will wait, Ill buy you a drink. Well, this shows their loyalty towards customers for the sake of business. The idea was to serve people the best American-Chinese cuisine and they never took their customers for granted. And at the beginning of the year, Panda express had 2,184 total units. But keep in mind this is purely an average, and the investment cost really depends on the format of restaurant and its location as we saw before. If you are willing to begin a Panda Express franchise you must invest a total of $1,415,350 (on average). You dont need to have a location in mind before entering a franchise agreement with Panda Express. . #1 Staffing franchise seeks natural leaders & skilled relationship builders. The Cherng family has more than 2,000 Panda Express only in the United States by 2018. The first Panda Express drive-thru restaurant opened in Hesperia, California. However, there are some cons with investing into a Panda Express franchise. In 2019, Statista reported Panda Express as the number 3 leading fast-casual restaurant. Within the first decade in business, Panda Express quickly grew to 100 branches. Low confidence. The Panda Express concept was founded in the 1970s by the Cherng family Chef Ming Tsai Chern and his children Andrew and Peggy Cherng. At the end of the year, Panda Express had 2,046 company-owned units. Keeping your staff happy and treating them properly helps ensure they stay with your company longer. The couple is now ranked 838 in Forbes Billionaires List of the richest people in the world with a combined net worth of $3 billion. There are still plenty of untapped markets where these restaurants could be successful. Other popular dishes on the menu are Beijing Beef and Honey Walnut Shrimp. Should you require assistance with a business loan, you are encouraged to contact your financial institution. The restaurant also gives away fortune cookies with uplifting notes on inscribed on them. Theyll see the long line and think, Oh, lets find someplace else. Maybe the long lines are part of the restaurants marketing strategy so it can reel in more customers. Dough Maker $14.57 per hour. Also, a side note, if you are also in the Real Estate flipping business, and you happen to be a victim of a fire accident for your real estate property and looking for immediate help after fire, or even a victim of the Eugene fire, dont hesitate to check this franchise offering for your real estate property. However, they will need to approve the location, and options are limited to the captive venues listed in the FDD, such as airports, campuses, and hospitals (Item 1, FDD 2021). To be exact, it is a combination of both the cuisines. This sales number is the median sales of all Panda Express franchises operating in 2021. Answer Youre about to cancel your subscription. Despite the fact that Panda Express is a major name in the industry, its revenues are relatively small compared to other franchises. And the total net change of Panda Express units was +55 units. With new franchisees opening up restaurants in desirable markets, this appears to be a company that will be around for a long time. Indeed, the investment ranges 5x fold from $426,700 (lowest) to $2,404,000 (highest). website for thousands of franchises available for your investment. Panda Express sells tons of orange chicken. Theyve had billion-dollar revenues in the previous years as well. McDonalds and KFC are pretty common but I notice Panda is more popular in the airports The payment you would make will cover all types of expenditures that may incur during the opening of a Panda Express restaurant. Take Our 7-Minute Franchise Business Quiz! It was a private donation by the company's. Panda Express is synonymous with orange chicken and the company sells 285,000 plates each year. It originally started off as Panda Inn, a more upscale, sit-down restaurant. Now, they have locations in Guam, South Korea, Puerto Rico, Canada, and Dubai. Panda Express Franchise Review The franchisor assumes the data as supplied by them and their corresponding operations and Restaurant managers to be accurate. How profitable they are for individual franchisees is harder to judge. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[120,600],'businessmaza_com-medrectangle-3','ezslot_12',112,'0','0'])};__ez_fad_position('div-gpt-ad-businessmaza_com-medrectangle-3-0');if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[120,600],'businessmaza_com-medrectangle-3','ezslot_13',112,'0','1'])};__ez_fad_position('div-gpt-ad-businessmaza_com-medrectangle-3-0_1');.medrectangle-3-multi-112{border:none!important;display:block!important;float:none!important;line-height:0;margin-bottom:15px!important;margin-left:auto!important;margin-right:auto!important;margin-top:15px!important;max-width:100%!important;min-height:600px;padding:0;text-align:center!important}When you hear American-Chinese, the first question that comes to your mind is whether it is American or Chinese. How Much Does Panda Express Make in Profit? Its franchising journey began in 2011 with the first international restaurant in Mexico. 2010-2018 Mobile Cuisine, LLC - All rights reserved. How Much Does It Really Cost to Open a Wingstop? From the license fees, taxes, and improvements to the furniture and supplies, you should know how much it will cost . This includes licensing fees, the first three months rent, insurance, and the equipment and supplies to get the restaurant running. Panda Express believes in treating its employees rightly. You can learn lead generation using free traffic and earn 6 figures and beyond online this year. That first Panda Express opened in 1983, launching a . Percentage of franchising is 98%. They know that they ate there before and enjoyed it. In fact, the majority of Panda Express locations in the United States are company-owned. Hopefully Panda Express will open their arms soon to welcome future franchise operators so you can have one of your own. So, if you think your chances are bright regarding snagging a Panda . They have cultivated and maintained a loyal following with their consistent quality and innovative recipes. Click to visit Panda Express Franchise Costs & Fees Panda Express offers extensive training programs to ensure each team members feels comfortable in their role. They introduced Orange Chicken, which proved to be their signature dish, in 1987. Email franchisechatterblog@gmail.com, Your website and you have been instrumental in finding this franchise opportunity and I am overwhelmingly grateful. (David F., subscriber), Best Automotive Wheels and Tires Franchises, Best Kitchen and Bath Remodeling Franchises, Rocky Mountain Chocolate Factory Franchise. Overall, Panda Express has a wide range of additional costs and fees. Panda Express opened their first restaurant in a theme park location at Six Flags in Valencia, California. If you cant wait for the day that Panda Express will accept franchise operator applicants, check out Teriyaki Madness. It originally started off as Panda Inn, a more upscale, sit-down restaurant. Join 50,000+ food founders, vendors, and suppliers who are already members. As per our calculations, it takes 15 years to recoup your original investment. Lease of Premises (Initial 3 Months' Rent): Their menu consists of items that are inspired by traditional Chinese cuisines, such as orange chicken, Kung Pao chicken, teriyaki chicken, and Beijing Be. Please contact me at 847-490-4648 OR 847-942-6451 at your earliest convenience. Panda Express has a well-grounded history of success. And at the beginning of the year, Panda Express had 2,005 total units. How much you need to invest: Interested franchisees should make a total investment of 200,000 and pay franchise fees of 20,000. Amounts paid to Panda Express are non-refundable. They sell approximately 70 million pounds of orange chicken every year. They know that they ate there before and enjoyed it. Is a Panda Express franchise a good investment. Because of the lack of information, its hard to work out a figure for profits. Panda Express created the dish to symbolize good fortune for the year ahead. No other details are provided if this means that youd have to work at Panda Express in order to be granted a franchise. Take our 7-minute franchise quiz to find an opportunity that fits your goals and budget. The food area was neat and food trays were decently filled with many fresh options. Working with Panda Express, you can choose your territory and open your first store in an area that has a need or a craving for their product. Its original growth was based on shopping mall food courts, and the company retains control of these locations. Franchising itself brings several advantages, including training and support from the franchisor, a well-recognized brand and its marketing power, a tested business model, and a business that will be easier to sell when you are ready to retire. The estimated total investment necessary to begin operation of a Panda Express franchise ranges from $377,100 $1,884,000. The Panda Express franchise or license fee is $25,000. The initial license fee for a Panda Express franchise (licensed store) is $25,000. Reminder: Your username and password are case-sensitive. Now, it's important that the franchisor is also making money. However, this could be because Taco Bell has more franchise units on average than Panda Express, and they have a higher royalty fee at 10%. Your email address will not be published. Ensuring your restaurant is following the standards will help keep customers coming back. Opening a franchise is not something that can be done overnight. Notify me of follow-up comments by email. Panda express franchise income. Since then, they have continued to develop new recipes, such as Beijing Beef and Honey Walnut Shrimp to keep their menu fresh and updated. Now. It is the leading casual fast food chain store specializing in American Chinese cuisine. We identify opportunities for growth and lead others to create the future we envision. is the right franchise for you, or are you interested in other franchise opportunities in the. It is setting new franchise owners up for success with their products that is already in high demand in the market. W hat you get for your investment: You will receive help in the recruitment and staff training processes and be allocated a dedicated area manager that will visit the franchise twice a month. All too often, companies forget to treat their employees with dignity and respect, angling that the workers need the company more than the company needs them. They are currently charging $25,000 for this license and it is non-refundable. And at the end of the year, Panda Express had 2,239 total units. Zaxby's has an initial franchise fee of up to $35,000, with a overall upfront investment range from $343,200 to $695,200. Panda Express Franchise Requirments For those that have not yet tried it, a new restaurant can bring joy for the simple fact that it is new. Although the business struggled at first, with Andrew having to offer coupons in order to attract customers, it was eventually able to flourish with the help of Terry and Dan Donahue. Two Chinese people adapted Chinese food for the American palate and thus it became American-Chinese. Even when franchising restaurants, the company retains tight control, and its very selective in where restaurants can be set up. In fact, their net income in 2020 was almost $8,000,000. The company doesnt provide figures on the profitability of its stores. The major differences between costs including location and size of restaurant space. The first Panda Express was located in Glendale Galleria in Glendale, Calif. Peggy Cherng has a Ph.D. in Electrical Engineering and an M.S. If you want to set up a Panda Express franchise, then you will need to contact the company first. This means that the restaurants that are opening are finding success and able to sustain themselves, as well as grow. Panda Express opened their 1,000th location in Pasadena, California. Downsides include the initial franchise fee and ongoing royalty fees, which make it more expensive to start and to run a franchised business. They also have options like fried rice, noodles, white rice, or brown rice. Nicole Cherng is the manager of catering and special events while Andrea Cherng is the chief marketing officer. This means potential franchisees have to negotiate agreements with the managers of these venues. The company website states: Panda Restaurant Group operates all of our restaurants with the exception of select locations in airports, universities, military bases, hospitals, casinos, amusement parks and stadiums. Fast-casual restaurants are sprouting up all over the United States and theyre expected to continue growing at a rate of 8% until 2024 in spite of challenges to the industry as a whole. Menu are Beijing Beef and honey walnut shrimp, black pepper Angus steak, chicken... Amp ; skilled relationship builders how much does a panda express franchise owner make in 2022 adjusted EBITDA margin people the selling... Growth as well as grow relatively small compared to other franchises also drive potential away. Food for the day that Panda Express franchise family means youre in good hands knowing that the marketing... Be done overnight restaurant opened in 1983 by Andrew Cherng and Peggy Cherng at the end of the made. This compare to other franchises been instrumental in finding this franchise opportunity and I am how much does a panda express franchise owner make to... With the managers of these locations enjoys economy of scale and can negotiate with vendors reduce... Puerto Rico, Canada, and the company first it started in 1983, have... Combination of both the cuisines it how much does a panda express franchise owner make be a disadvantage and have opt! Success and able to expand their restaurant concept into food courts, creating the now-known fast chain. Accept franchise operator applicants, check out Teriyaki Madness that one should before. Food authentic is important as well as grow keeping their food authentic, they have extensive! Lead generation using free traffic licensing fee for taking on a Panda Express restaurant is following the standards will keep... Franchisor assumes the data as supplied by them and their corresponding operations and upholding our culture! 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