Risk Score
Pending analysis
Investment Range
$1,671,700 - $2,493,000
Franchise Fee
$45,000
Total US Locations
16
Business Summary
Green Mill Restaurants operates full-service restaurants that specialize in pizza, alongside a variety of other menu items and alcoholic beverages. The business model focuses on providing a dining experience for families and young adults.
Corporate History
Green Mill Restaurants, LLC was formed on September 2, 2010, as a Minnesota limited liability company. It acquired all assets, liabilities, and interests, including the Green Mill franchise system, from its immediate predecessor, Green Mill Restaurants, Inc. (formerly Mill Franchising Incorporated), which was incorporated on April 19, 1991. The predecessor offered Green Mill franchises from 1991 until 2010. Green Mill Restaurants, LLC has been offering Green Mill full-service restaurant franchises since 2010, and began offering limited-service Green Mill on the Go restaurant franchises in July 2021. The company's parent entity is Hightop Brands, LLC, formed in 2018.
Financial Overview
Investment Range
$1,671,700 - $2,493,000
Franchise Fee (Low)
$45,000
Franchise Fee (High)
$45,000
Royalty %
4%
Marketing %
2%
Equipment Costs (Low)
$1,350,000
Equipment Costs (High)
$2,050,000
Working Capital
$62,500
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
Green Mill Restaurants' audited financial statements indicate a positive working capital of $1,047,947 for the year ended December 31, 2023, and $295,239 for the year ended December 31, 2022. The independent auditor provided an unqualified opinion, meaning the financial statements present fairly, in all material respects, the company's financial position. The auditor's report does not include a going concern qualification, although it notes that management is responsible for evaluating potential conditions or events that might raise substantial doubt about the company's ability to continue as a going concern.
Financing Details
Green Mill Restaurants does not offer any direct or indirect financing to its franchisees, nor does it guarantee any franchisee notes, leases, or other obligations. Franchisees are responsible for securing their own financing through third-party lenders.
Performance Metrics
Total US Locations
16
Franchised Units
16
Corporate Units
0
Avg Square Footage
7,000
Franchising Since
2010
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
No
Litigation Summary
Green Mill Restaurants has no litigation or legal disputes to report.
Bankruptcy History
Green Mill Restaurants has no bankruptcy history to report for the franchisor or its management.
Agreement Terms
Initial Term
20 years
Renewal Term
10 years
Renewal Conditions
To renew their franchise agreement, Green Mill Restaurants franchisees must provide written notice of their intent to renew between six and twelve months before the initial term ends. They must be in full compliance with the franchise agreement and all financial obligations, maintain possession of their restaurant site (or secure an approved alternative), sign the franchisor's then-current franchise agreement (which may have different terms and fees), and execute a general release of claims. Additionally, the franchisor may require the franchisee to refurbish their restaurant within twelve months.
Training & Support Program
Franchisor Assistance
Before a Green Mill Restaurants franchise opens, the franchisor assists with approving the site and designated territory, providing standard plans and conceptual drawings for the restaurant's design, and reviewing detailed plans created by the franchisee's architect. They also provide a schedule of required equipment, furniture, and supplies, along with a list of approved vendors. The franchisor conducts a pre-opening inspection to ensure the restaurant is ready and provides an initial training program for the franchisee or their general manager, kitchen manager, assistant kitchen manager, and dining room manager. An Opening Team, at the franchisee's expense, assists with on-site employee training for two weeks around the grand opening. A $25,000 Grand Opening Allowance is also paid by the franchisee to the franchisor for an advertising and promotional program. Once open, Green Mill Restaurants provides ongoing advice on maintenance and marketing, along with advertising materials.
Initial Training Hours
475
Training Location
St. Paul, Minnesota area
Ongoing Support
After opening, Green Mill Restaurants advises franchisees on proper maintenance and marketing methods. The franchisor also provides artwork or copies of advertising materials for a reasonable charge. Franchisees are required to participate in an annual customer survey program provided by Service Management Group, and there is a Franchise Advisory Council (FAC) that operates in an advisory capacity. The franchisor manages an advertising fund and provides ongoing training access via an Academy Fee. Green Mill Restaurants personnel may assist with on-the-job training or refresher courses during periodic visits.
Franchise Requirements
Ideal Candidate Profile
Green Mill Restaurants requires that the franchisee personally serve as the on-site general manager, or if the franchisee is an entity, one of its owners must serve in this role, unless waived by the franchisor. This on-site general manager, and any successors, must be approved by the franchisor and successfully complete the franchisor's training program. All owners of the franchise entity are required to personally guarantee the franchise obligations.
Industry Experience Required
No
Management Experience Required
Yes
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
retail
Owner Participation
hands-on
Territory Type
protected
Territory Size Requirements
Green Mill Restaurants' designated territories are determined based on factors like population base (anticipated growth to approximately 15,000 to 40,000 people), population density, affluence, density of residential and business entities, presence of other restaurants, traffic generators, proximity to lodging, and major geographical features like rivers or freeways. Although a franchisee receives a protected area where Green Mill Restaurants will not establish another Green Mill franchise, the consumer service area of another Green Mill Restaurant or other restaurant concepts under different marks (even if competing) may overlap.
Staffing Notes
Green Mill Restaurants requires franchisees to have a full-time, on-site general manager. If the franchisee is an individual, they must fill this role; if an entity, an owner must be the on-site general manager, unless an exception is granted. All general managers must be approved by the franchisor and successfully complete their training program. Franchisees must also hire their kitchen manager, assistant kitchen manager, and dining room manager, who will also undergo franchisor-provided training. Additionally, franchisees must ensure at least one employee on duty is Serv-Safe® certified for food safety. An 'Opening Team' of four to six certified trainers (from the franchisor or other Green Mill franchisees) will assist with training the franchisee's management and other employees for two weeks before and two weeks after the grand opening.