Executive Summary
I propose bringing Zaxby’s, a highly successful fast-casual chicken restaurant, to Chicago, Illinois. Zaxby’s has proven to be a profitable venture with an average annual sales of $2.6 million per location and an investment cost of approximately $2.3 million. Despite not meeting the traditional net worth and liquid capital requirements, I have a solid financial foundation and a compelling vision for Zaxby’s in Chicago.
Personal and Financial Overview
Age: 41
Current Income: $230,000 per year from two IT jobs
Additional Income: Veterans Affairs Disability
Franchise Fee Available: $35,000
Market Opportunity
The Chicago area is a vibrant market with a diverse population and a strong demand for quality fast-casual dining options. The nearest comparable restaurant is Raising Cane’s, which does not offer seasoned chicken, providing a unique market gap for Zaxby’s. Established brands such as Chick-fil-A and Portillo’s have shown a robust demand for premium fast-casual chicken restaurants.
Financial Viability
Average Annual Sales per Zaxby’s Location: $2.6 million
Initial Investment Cost: $2.3 million
Franchise Fee: $35,000
Current Income: $230,000 annually, with stable employment in IT and additional income from Veterans Affairs Disability.
While I do not meet the traditional financial requirements, my stable and substantial income, combined with the strong performance of Zaxby’s franchises, indicates a low-risk investment. I am confident that I can secure additional financing or partnerships to cover the initial investment cost.
Strategic Plan
Location Analysis: Conduct thorough market research to identify prime locations in Chicago with high foot traffic and demand for fast-casual dining.
Financing Strategy: Explore potential financing options, including small business loans, investor partnerships, and franchisor financing programs.
Marketing Plan: Develop a robust marketing strategy that leverages local advertising, social media, and community engagement to introduce and establish Zaxby’s in the Chicago market.
Operational Plan: Implement best practices from Zaxby’s successful franchises, ensuring high-quality food, excellent customer service, and efficient operations.
Conclusion
Bringing Zaxby’s to Chicago presents a significant business opportunity with a high potential for success. With my strong income, passion for the brand, and a strategic plan in place, I am confident in my ability to overcome financial hurdles and establish a thriving Zaxby’s franchise in the Chicago area.