What kind of food will Larks brands feature on menus? Can you give some examples, and what the price points will be?
Larks offers fast casual comfort food, with a variety of shareables, handhelds, and a focus on elevated quesadillas. The Larks team has been developing a series of gourmet quesadilla recipes that will be our specialty. We also offer a full beer, wine and cocktail menu with specialty shared cocktail pitchers. Our price point will range from $6-$14, varied slightly by market.
Do you have any data to showcase the brand's growth potential?
We believe Larks has unlimited growth potential. This is our third franchise concept, so we are looking to have quick growth that mirrors our previous. We currently have three franchisee locations in development and two corporate owned. Our plan is to have an additional five in development by Q2 and a total of four open by the end of the year. Long term, our goal is to have 200-plus locations in five years. We are in discussion with franchise partners interested in area development agreements.
Can you give an update on your development pipeline?
We currently have 400 leads in our CRS and 60 prospects we're actively working with through the sales process and real estate. We have a very experienced VP of Sales who will be leading the team on these aggressive development goals.
Why is Larks' model optimized for growth?
Larks Entertainment is optimized for growth through the dynamic franchise model, which allows Larks to adapt and go into many more markets, and real estate, than a traditional entertainment franchise. The flexibility of the dynamic franchise model also provides a wide range of investment levels and opens up the availability to own a Larks to people at all financial levels. Unlike my previous franchise concept, Larks has the ability to go into more towns with varied demographics that will stimulate growth very quickly.
How are you attracting prospective owners?
We are connecting with franchise prospects through franchise networks, franchise shows, past relationships, and social media.
What sets Larks apart from competitors?
The two aspects of Larks Entertainment that sets us apart in the franchise market are Larks Dynamic Franchise model and our team of industry veterans. The dynamic franchise model allows for almost unlimited opportunities to open and operate a Larks, from the flexibility of the market to the customized attractions within the space. The Larks team has five internal team members with extensive backgrounds working in franchising. We have all built franchise organizations and plan to use that experience and knowledge to expedite Larks’ growth and build a vast support system for our franchise partners.
What is the cost of investment?