The Great Greek Franchise
Audited FinancialsRisk Score
Pending analysis
Investment Range
$583,514 - $1,088,560
Franchise Fee
$29,500
Total US Locations
57
Business Summary
The Great Greek Mediterranean Grill® operates fast-casual restaurants specializing in Greek and Mediterranean cuisine. These restaurants offer a menu of various Greek and Mediterranean food and beverage items to the general public.
Corporate History
Great Greek Franchising, LLC was formed in Florida on December 4, 2017. The Great Greek Mediterranean Grill brand began offering franchises in January 2018. The company operates fast-casual restaurants specializing in Greek and Mediterranean cuisine. It is part of the United Franchise Group, a collection of affiliated franchising-related brands.
Financial Overview
Investment Range
$583,514 - $1,088,560
Franchise Fee (Low)
$29,500
Franchise Fee (High)
$39,500
Royalty %
6%
Marketing %
3%
Equipment Costs (Low)
$225,964
Equipment Costs (High)
$248,560
Working Capital
$55,000
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
Great Greek Franchising, LLC reported a positive net income of $211,928 for the fiscal year ending April 30, 2024, an improvement from losses in previous years. However, the company has a significant accumulated deficit in members' equity, indicating that its total liabilities exceed its total assets. Current liabilities also substantially exceed current assets, suggesting negative working capital, largely due to deferred revenue from franchise fees and restaurant packages. The independent auditors noted that management believes the company will be able to continue operations on a going concern basis for at least the next twelve months. The company's financials have previously benefited from a Paycheck Protection Program (PPP) loan forgiveness for a related party in 2023 and an employee retention credit in 2022.
Financing Details
The Great Greek Mediterranean Grill does not offer any direct or indirect financing to its franchisees. The franchisor also does not guarantee any notes, leases, or other obligations for its franchisees.
Performance Metrics
Total US Locations
57
Franchised Units
50
Corporate Units
7
Avg Square Footage
1,900
Franchising Since
2018
Legal & Compliance Analysis
Recent Litigation
Yes
Bankruptcy
No
Litigation Count
5
Litigation Summary
The Great Greek Mediterranean Grill has faced several legal matters. One ongoing case, filed in October 2020, involves D&D Greek Restaurant, Inc. seeking to invalidate the franchisor's federally registered trademark due to alleged prior use of "The Great Greek" name by a single California business; the trial concluded in September 2022, and parties are awaiting judgment. Additionally, an affiliate, Signarama, was subject to an FTC injunction from 1993 and a Maryland consent order from 1996, both related to historical franchise sales practices. More recently, in August 2021, The Great Greek Mediterranean Grill entered into a consent order with California regarding unauthorized changes to its registration conditions and early collection of franchise fees. In March 2022, The Great Greek Mediterranean Grill, along with two affiliates, also entered into consent orders with California related to alleged violations at a trade show in October 2021, where franchise information was provided without valid registration in the state.
Bankruptcy History
The Great Greek Mediterranean Grill has no bankruptcy information required to be disclosed in Item 4 of this FDD document.
Agreement Terms
Initial Term
35 years
Renewal Term
35 years
Renewal Conditions
To renew their franchise agreement, The Great Greek Mediterranean Grill franchisees must provide advance notice to the franchisor, be in full compliance with their existing agreement, and renovate their restaurant to meet the franchisor's then-current standards. They are also required to sign the franchisor's current version of the Franchise Agreement and execute a general release of claims, unless prohibited by law.
Training & Support Program
Franchisor Assistance
Before opening, The Great Greek Mediterranean Grill provides advice for establishing the business, offers site selection and lease negotiation assistance through its affiliate Franchise Real Estate, and gives consultation on layout designs and alterations, including sample architectural drawings and advice on equipment installation. The franchisor sells a comprehensive Restaurant Package and provides a list of approved suppliers. An inspection is conducted upon construction completion. Initial training is provided at the franchisor's headquarters and designated restaurant locations, with a staff member assisting on-site for five days during the grand opening. Franchisees also receive an Operating Manual and other relevant written materials. After opening, The Great Greek Mediterranean Grill provides updates on system alterations and improvements, conducts periodic visits with advice (at no cost), and offers on-demand field/marketing representative visits (for a fee). Franchisees receive sales and service bulletins, and advice on equipment, software, and food service processes via telephone and electronic communication.
Initial Training Hours
204
Training Location
West Palm Beach, FL and Las Vegas, NV
Ongoing Support
The Great Greek Mediterranean Grill provides franchisees with details on system alterations and improvements. The franchisor conducts periodic visits to the business, offering advice and assistance at no cost. This assistance can include guidance on product purchasing, storage, display, preparation, sale of approved products and services, new product offerings, equipment use and maintenance, advertising implementation, administrative and accounting procedures, inventory control, general operating procedures, menu item pricing, and overall business operation, cleanliness, and efficiency. Franchisees can request a field/marketing representative for special assistance, which may incur a fee and travel expenses. Additionally, the franchisor sends free bulletins on sales, service, marketing, and operating procedures, and provides advice on equipment, computer hardware/software, and food service processes through telephone and electronic communication.
Franchise Requirements
Ideal Candidate Profile
The Great Greek Mediterranean Grill seeks franchisees who are committed to personally devoting their full-time efforts to the direct operation of their restaurant. Franchisees or their designated Operating Principal must provide on-location supervision and attend all mandatory meetings, training sessions, and annual conferences. The business also requires at least two employees who have completed Level 2 training to collectively work a minimum of 12 shifts per week. Franchisees, their owners, general managers, or operating principals are prohibited from having interests in or working for any other restaurant or food-related businesses.
Industry Experience Required
No
Management Experience Required
No
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
Retail
Owner Participation
Full-Time
Territory Type
Protected
Territory Size Requirements
The Great Greek Mediterranean Grill typically defines a franchisee's territory as a one-mile radius around their restaurant location. In areas with high population density, the franchisor reserves the right to designate a smaller territory.
Staffing Notes
The Great Greek Mediterranean Grill® requires its business to be under the direct, on-site supervision of the franchisee, an Operating Principal, or a general manager who has completed the franchisor's training program. The franchisee must employ at least two individuals who have successfully completed Level 2 training and dedicate a combined total of 12 shifts per week to the business. These Level 2 trained staff may include the general manager, Operating Principal, or the franchisee if working full-time. Level 2 training consists of manager certification, prep, line cook, expo, and cashier certifications. The franchisor sets minimum staffing levels to meet brand standards and uniform dress codes but does not control labor relations, hiring, or firing of employees. Employees are solely under the franchisee's control, and the franchisee must ensure they are properly trained, provide competent service, and for key employees, sign confidentiality agreements. Managers are not required to have an equity interest in the business.