Ultimate Sports Bar & Grill Franchise
Audited FinancialsRisk Score
Pending analysis
Investment Range
$370,000 - $838,500
Franchise Fee
$40,000
Total US Locations
1
Business Summary
Ultimate Sports Bar & Grill franchisees operate a sports bar and grill concept. These establishments offer a variety of food items alongside cocktails and are intended to be run out of a single location or on the same property.
Corporate History
Ultimate Sports Bar & Grill, Inc., an affiliate of Ultimate Sports Bar Franchise, LLC, was formed in Minnesota on February 17, 1994, and has been operating a sports bar and grill similar to the franchise concept since May 1994. Ultimate Sports Bar Franchise, LLC itself was formed more recently on February 28, 2023, and began offering franchises in the same year.
Financial Overview
Investment Range
$370,000 - $838,500
Franchise Fee (Low)
$40,000
Franchise Fee (High)
$40,000
Royalty %
5%
Marketing %
1%
Equipment Costs (Low)
$215,000
Equipment Costs (High)
$530,000
Working Capital
$45,000
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
Ultimate Sports Bar Franchise, LLC's auditors issued an unqualified opinion on its financial statements as of February 29, 2024. However, the franchisor's financial condition, showing total assets and cash both at $100, is highlighted in the FDD's Special Risks section, which calls into question the franchisor's financial ability to provide services and support to franchisees.
Financing Details
Ultimate Sports Bar Franchise, LLC does not offer any direct or indirect financing to its franchisees. The franchisor also does not guarantee any notes, leases, or other obligations of the franchisee.
Performance Metrics
Total US Locations
1
Franchised Units
0
Corporate Units
1
Franchising Since
2023
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
No
Litigation Summary
Ultimate Sports Bar Franchise, LLC has no litigation to report in Item 3 of its Franchise Disclosure Document. The franchisor or its management have not been involved in any material litigation or bankruptcy proceedings that are required to be disclosed.
Bankruptcy History
Ultimate Sports Bar Franchise, LLC has no bankruptcy history to disclose in Item 4 of its Franchise Disclosure Document. Neither the franchisor nor its management have been involved in any bankruptcy proceedings.
Agreement Terms
Initial Term
10 years
Renewal Term
10 years
Renewal Conditions
To renew their franchise agreement, Ultimate Sports Bar & Grill franchisees must meet several conditions. These include fully complying with all provisions of the Franchise Agreement, making necessary capital expenditures to maintain uniformity with the System, satisfying all monetary obligations owed to the franchisor or its affiliates, and not being in default of any agreement. Franchisees must also provide timely written notice of their intent to renew, sign the franchisor's then-current franchise agreement (which may have materially different terms), comply with current franchisee qualifications and training requirements, and sign a general release. A renewal fee of 35% of the then-current initial franchise fee is also required.
Training & Support Program
Franchisor Assistance
Ultimate Sports Bar Franchise, LLC provides several forms of assistance to its franchisees. Before opening, the franchisor offers an initial training program for the franchisee and two managers, along with opening assistance and guidance. Franchisees receive the Operations Manual and assistance with pricing, equipment, signage, fixtures, initial inventory, and supplies. The franchisor also provides limited help with conforming premises to local codes, obtaining permits, and construction or remodeling. They offer assistance in determining the type and number of employees to hire. After opening, franchisees receive ongoing advice, problem discussions, and general guidance via phone and electronic correspondence. The franchisor also makes ongoing training available and provides updates to the Operations Manual.
Initial Training Hours
132
Training Location
Affiliate location in Waite Park, MN or another designated franchisor training center
Ongoing Support
After opening, Ultimate Sports Bar Franchise, LLC provides ongoing support to its franchisees through various channels. Franchisees receive advice, problem discussions, and general guidance via telephone and electronic correspondence. The franchisor also makes ongoing training programs, seminars, conferences, conventions, or webinars available as needed, though franchisees are responsible for the associated costs including a $500 National Franchise Convention Fee. Updates and modifications to the Operations Manual are also provided.
Franchise Requirements
Ideal Candidate Profile
Ultimate Sports Bar Franchise, LLC looks for individuals with strong financial resources and a background in business and the industry. For those interested in becoming area developers, the franchisor also considers their experience in the industry, business experience, and marketing and sales plans. The franchisee or a designated manager is required to dedicate at least 40 hours per week to the day-to-day operations of the business.
Industry Experience Required
No
Management Experience Required
Yes
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
Retail
Owner Participation
Supervisory
Territory Type
exclusive
Territory Size Requirements
Ultimate Sports Bar Franchise, LLC defines territories based on a specific geographic region, which they approve using criteria such as radius, zip codes, or natural/political boundaries. A typical territory will usually include a 5-mile radius around the franchisee's outlet.
Staffing Notes
Ultimate Sports Bar & Grill provides assistance and guidance on the type and number of employees to hire. However, franchisees are solely responsible for all aspects of employee management, including hiring, firing, compensation, payroll taxes, and day-to-day supervision and control. The franchised business must always be under the direct supervision of either the franchisee or an approved on-site Designated Manager, who must dedicate at least 40 hours per week to managing operations.