Risk Score
Pending analysis
Investment Range
$181,150 - $282,000
Franchise Fee
$15,000
Total US Locations
4
Business Summary
WeDats Franchise Holdings LLC offers franchises for the operation of fast-casual restaurants specializing in authentic Cajun cuisine. WeDats Business locations serve a variety of food products including wings, loaded fries, and catfish, intended for on-premises consumption. Franchisees operate these businesses under the WeDat's brand, system, procedures, and trade secrets.
Corporate History
WeDats Franchise Holdings LLC was formed in Louisiana in June 2019 and began offering franchises for WeDat's Businesses in March 2022. The brand concept, however, has an earlier history through its affiliated entities. The founder, Gregoire Tillery, has been the managing member of We Dat Food Truck LLC since April 2013, and We Dat's "New Orleans Own" Chicken & Shrimp LLC since November 2015, both operating under the WeDat's brand. Several affiliated entities also owned and operated WeDat's locations, with some ceasing operations between 2022 and 2023. Other affiliates, Season Dat LLC (formed 2018) and We Dats Management LLC (formed 2019), provide seasonings and management/marketing services respectively. We Dat's IP, LLC (formed 2022) holds the brand's intellectual property.
Financial Overview
Investment Range
$181,150 - $282,000
Franchise Fee (Low)
$15,000
Franchise Fee (High)
$30,000
Royalty %
7%
Marketing %
0.5%
Equipment Costs (Low)
$76,500
Equipment Costs (High)
$113,000
Working Capital
$32,500
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
WeDats Franchise Holdings LLC has audited financial statements available, but the company has a limited operating history and has not yet commenced full operations, which may make it difficult for investors to evaluate its future prospects and results of operations. Additionally, the company has significant related party debt, totaling approximately $2.9 million in 2023 and $2.7 million in 2022. The independent auditor provided an unqualified opinion, indicating the financial statements present fairly in all material respects.
Financing Details
WeDats Franchise Holdings LLC does not offer any direct or indirect financing to its franchisees. WeDats Franchise Holdings LLC also does not guarantee any notes, leases, or other obligations of its franchisees.
Performance Metrics
Total US Locations
4
Franchised Units
0
Corporate Units
4
Avg Square Footage
2,500
Franchising Since
2022
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
No
Litigation Summary
WeDats Franchise Holdings LLC has no litigation required to be disclosed at this time.
Bankruptcy History
WeDats Franchise Holdings LLC has no bankruptcy history required to be disclosed at this time.
Agreement Terms
Initial Term
10 years
Renewal Term
10 years
Renewal Conditions
To renew their franchise agreement, WeDats Franchise Holdings LLC franchisees must be in good standing, provide timely advance notice (6 to 12 months before the term ends), pay any then-current renewal fee (currently 30% of the initial franchise fee), sign the new Franchise Agreement (which may have different terms), be current on all payments, sign a general release of claims, and modernize their business location to meet the current brand standards.
Training & Support Program
Franchisor Assistance
WeDats Franchise Holdings LLC provides comprehensive assistance to its franchisees. Before opening, WeDats Franchise Holdings LLC helps with designating the territory, lending a confidential operations manual, providing site selection guidelines and assistance, offering access to prototype design plans, and helping implement an opening marketing initiative. WeDats Franchise Holdings LLC also provides initial training for the operating principal, manager, and one additional staff member, which can be at their New Orleans, Louisiana location or on-site. After opening, ongoing assistance includes periodic telephone and email support for daily operations, marketing, and personnel issues. WeDats Franchise Holdings LLC updates the operations manuals, offers additional training for replacement managers (for a fee), advises on suppliers, helps with sales promotions, administers a Brand Fund, and provides access to franchisee resources and potentially a website page, along with print and television advertisements if available.
Initial Training Hours
60
Training Location
New Orleans, Louisiana or on-site at your location
Ongoing Support
After opening, WeDats Franchise Holdings LLC provides ongoing support to its franchisees through periodic telephone and electronic mail assistance for daily operations, marketing, advertising, and personnel issues. WeDats Franchise Holdings LLC continuously updates its operations manuals to incorporate improvements and new developments. The franchisor also makes training available for replacement managers, though a fee may apply. WeDats Franchise Holdings LLC advises on supply sources, assists with sales promotions, administers a system-wide Brand Fund, and provides access to manuals, franchisee resources, and company news. Franchisees may also be provided with a standard web page on the WeDat's website and access to print and television advertisements when they exist.
Franchise Requirements
Ideal Candidate Profile
WeDats Franchise Holdings LLC seeks individuals who are committed to personally managing their franchised business full-time, or designating a trained Operating Principal or manager to do so. Ideal candidates should be prepared to dedicate significant personal effort, supervision, and attention to the business. For those interested in an Area Development Program, financial capacity and expertise in developing businesses are also considered.
Industry Experience Required
No
Management Experience Required
No
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
Retail
Owner Participation
Hands-On
Territory Type
Limited
Territory Size Requirements
WeDats Franchise Holdings LLC defines the territory for a single franchise as a circle with a radius of three miles or encompassing 30,000 people, whichever is less. In metropolitan areas, the territory radius will be determined by WeDat's to ensure it does not materially adversely affect the business.
Staffing Notes
WeDats Franchise Holdings LLC requires that either the franchisee (if an individual) or a designated Operating Principal or trained manager (if a legal entity) must personally manage the business at all times. Additionally, another employee who has successfully completed the initial training program must be present whenever the business is open. Franchisees are responsible for maintaining a competent and trained staff sufficient to operate the business according to WeDat's standards. While WeDats Franchise Holdings LLC may offer suggestions and guidance on labor and employment matters, franchisees retain sole responsibility for hiring, termination, compensation, working conditions, and day-to-day employee activities.