Moe's Soutwest Grill

Moe's Soutwest Grill

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Executive Summary

Moe’s Southwest grill is a casual atmosphere burrito bar owned by FOCUS brands. Moe’s headquarters is currently located in Atlanta, Georgia. Moe's Southwest Grill is a chain of about 360 quick-service eateries in 36 states that offer standard Tex-Mex favorites, including burritos, quesadillas, and fajitas, in a quirky, fun atmosphere. 800 more franchise deals signed and currently awaiting construction. Menu items are named after TV, movie, and pop culture references, such as the Art Vandalay, the Triple Lindy, and the Joey Bag of Donuts. Nearly all of the company's restaurants are operated by franchisees. Moe’s is a business format franchise and is available for single-location or multiple-location deals. The franchise fee for a single-location deal is $30,000 non-refundable. In order to open a store location a franchise is expected to have $200,000 in liquid capital and $600,000 in total assets. Moe’s Southwest Grill, a 2007 Top Ten Growth Chain according to Restaurant Hospitality and Technomic, is prepared for vigorous franchise growth. Based on the age this franchise and the growth they have experienced so far, this appears to be an excellent investment opportunity. Moe’s primary competition consist of Qdoba Mexican Grill and Chipotle.

Franchise History
Moe’s Southwest grill is a fairly new franchise concept. Moe’s was organized July 17, 2000 in Atlanta, Georgia by founder and CEO H. Martin Sprock III. The first franchises were offered in 2001. Their parent company is Raving Brands, franchisor of Doc Green’s, Mams Fu’s, Planet Smoothie, PJ’s Coffee, Monkey Joe’s. On April 11, 2007, Raving Brands sold Moe's to FOCUS Brands, franchisor of Carvel, Cinnabon, Seattle's Best Coffee, and Schlotzsky's. There headquarters is located at 2915 Peachtree Rd., NE Atlanta, GA 30305. On March 12, 2007, Raving Brands entered into a 40-store development deal with Canadian partner True North Brands, Inc., representing Raving Brands’ move to an international playing field. On March 27, 2007 Moe’s Southwest Grill contracted with North America’s largest food service marketer and distributor, SYSCO Food Services, to consolidate its U.S. food purchasing and distribution program. The company logo MOE’S SOUTHWEST GRILL and a picture is as follows:

Type of Franchise
Moe’s Southwest Grill is a business format franchise headquartered in Atlanta, Georgia. Moe's is a chain of about 360 quick-service eateries in 36 states throughout the U.S. In 2007, Raving Brands entered into a 40-store development deal with Canadian partner True North Brands, Inc.

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, representing Raving Brands’ move to an international playing field. They are currently seeking qualified franchise partners interested in multi-unit development in exclusive territories around the world. Each development agreement normally involves a development schedule of at least ten retail locations to be developed over a period of three to five years. The number of stores is based on the size of the territory granted and may exceed this number substantially. Investment ranges vary and minimum qualifications in terms of liquid capital available and total net worth are typically upwards of US $1,100,000.00 and a net worth of a minimum near twice that amount. In instances where development is determined to be greater than the minimum level of ten, significant additional liquidity and net worth will be required.
Franchise Agreement and Legal Documents
1. The franchise agreement permits the franchisee to be sued in Georgia. Out of stat litigation may force you to accept a less favorable settlement. It may also cost you more to litigate with us in Georgia than in your home state. Although the franchise agreement states that the franchisee may be sued in Georgia, local law may supersede this provision in your state.

2. The franchise agreement states that Georgia law governs the agreement, and this law may not provide the same protections and benefits as local law. You may want to compare these laws. Although the franchise agreement states that Georgia law governs, local law may supersede this provision.

3. There may be other risks concerning this franchise
A copy of the franchise agreement and other legal documents are attached in the appendices section of the report.
Franchise Application
The franchise application includes a six step process as follows:
Step 1: Request For Consideration
The first step to owning your own Moe’s franchise is to complete Moe's Request for Consideration Form with as much detail as possible (if you have not already done so). This will give us the necessary information to help us better understand your background and your plans for owning a Moe’s.

Step 2: Franchise Sales Director Meeting
After completing the RFC and submitting it to us, the next step is to discuss your plans and the information from your completed RFC with one of our Franchise Sales Directors. They will contact you shortly after receiving and reviewing your RFC.

Step 3: Franchise Disclosure and Due Diligence
If, during the first face-to-face meeting with one of our Franchise Sales Directors you are interested in continuing the process towards owning a Moe’s, he or she will provide you with our disclosure document, commonly referred to as the UFOC. This document is required by the Federal Trade Commission (FTC) and certain state laws and explains in detail a Moe’s franchise. The franchise agreement that you would sign is included in the UFOC for you to start reviewing. We will need the signature receipt page at the back of the UFOC as a record that we properly gave you this document. The FTC requires that you not sign a franchise agreement or pay the franchise fee if you have not first been given the UFOC to review for 10 business days. This is the time you should be conducting your due diligence on the Moe’s concept.

Step 4: Franchise Application
After you have addressed all of the pre-ownership issues listed above and you are ready and committed to own your own Moe’s Southwest Grill, the next step is to complete the franchise application. The Franchise Sales Director for your area will collect your application and put together the complete “review package” for Moe’s franchise review committee. Moe’s franchise review committee meets every Monday and Thursday to review franchise applications.

Step 5: Signing the Franchise Agreement & Paying the Franchise Fee
If Moe’s franchise review committee approves your application, you will be sent the franchise agreements that you will be required to sign. Again, an exact copy of these agreements are incorporated in the UFOC. The FTC and certain state laws also require that you hold these agreements for 5 business days before you can sign them and pay the franchise fee. Once the holding period of 5 business days has passed, you are now ready to sign the agreements and return them to us, along with the franchise fee. Once we receive the signed agreements into our Atlanta office with the franchise fee and all necessary documentation, we will countersign your agreements and send you back a copy.

Step 6: The Fun Begins!
Once we have countersigned your agreement, you are now officially a Moe’s franchisee and our franchise support team will begin working directly with you to open your store as quickly and efficiently as possible.

The Moe’s Request for Consideration form is a preliminary form to find out some basic information about the applicant. They want to know your contact information and whether or not you’re planning on having a partner. They want to know what your business and professional background is and specifically have you been the previous owner of a business. Next they will ask about your financial aspects such as total liquid assets, other assets, how much of your own money are you looking to invest, liabilities and net worth. In this form they also ask about what locations you are interested in and whether you would consider a multi-location deal. The link for the Moe’s Request for Consideration is as follows:
http://www.focusbrands.com/rfc.htm

Standard Franchisor Services
Pre-Opening Development:
• Access to FOCUS Brands development network of real estate brokers, architects, lenders, contractors, and department tools and resources
• Design and construction support and assistance
• Dedicated franchise support team
Comprehensive Training:
• Intensive classroom instruction at Moe’s University
• Hands-on training in a current franchise store
• Training reference manuals, including electronic supplements
• Web site access to training tools
Marketing:
• Innovative marketing plans, programs and promotions
• High quality merchandising, point of purchase and advertising materials
• Seasonal marketing campaigns
• Online access to a database of local store marketing ideas and materials
• Proprietary recipes and new product rollouts
Ongoing Support:
• Regular consultant visits from Moe’s franchise support team
• Regular Q&A consultations
• Business review analysis of store sales and performance vs. system-wide benchmarks
• Operating system manuals
• Cost saving programs through our National Accounts division
• Password-protected intranet
Training Program
• Moe’s University in Atlanta, Georgia
• Training is mandatory for the franchisee if no previous experience and at least 2 management personnel are required to attend
• MOE’s Management Training Program Manual
• 2 week training program
• Must be completed prior to opening a franchise location
• Combination of in-class and hands-on training
• Must score a 90% or better on written exam

Training Details


Financial Aspects

They do not offer, either directly or indirectly, any financing arrangements. Interested franchisees can consider a one-location, three-location, or ten-location deal.
Minimum Financial Requirements:
$200,000 liquid cash
$600,000 total net worth
Franchise Fee Per Concept:
$30,000

Franchise Fee is comprised of the following categories:
• Real estate Site selection-13%
• Construction Assistance and Consulting-18%
• Corporate Training-27%
• Store Opening-32%
• License-10%
Other fees include:
• Royalty- 5% of net sales every two weeks
• Advertising fee- Up to 2% of net sales every two weeks
• Local advertising expenditure- 2% of net sales as determined by franchisee
• Transfer fee-$10,000 upon approval of transfer by company
• Renewal fees- Whatever current conditions are

Allocation of initial investment according to 2003 UFOC:



International Franchising
Moe’s seeks qualified franchise partners interested in multi-unit development in exclusive territories around the world. Each development agreement normally involves a development schedule of at least ten retail locations to be developed over a period of three to five years. The number of stores is based on the size of the territory granted and may exceed this number substantially. Investment ranges vary and minimum qualifications in terms of liquid capital available and total net worth are typically upwards of US $1,100,000.00 and a net worth of a minimum near twice that amount. In instances where development is determined to be greater than the minimum level of ten, significant additional liquidity and net worth will be required. According to available information Moe’s does not currently have any open stores in the international market. However, on March 12, 2007, Raving Brands entered into a 40-store development deal with Canadian partner True North Brands, Inc., representing Raving Brands’ move to an international playing field.

Summary
• Moe’s was organized July 17, 2000 in Atlanta, Georgia by founder and CEO H. Martin Sprock III.
• Moe's Southwest Grill is a chain of about 360 quick-service eateries in 36 states that offer standard Tex-Mex favorites, including burritos, quesadillas, and fajitas, in a quirky, fun atmosphere.
• The first franchises were offered in 2001 by parent company Raving Brands.
• Moe’s was sold by Raving Brand to FOCUS brands.
• The franchise fee per concept is $30,000.
• Moe’s requires a minimum of $200,000 in liquid assets and $600,000 in total assets.
• Currently Moe’s does not list international locations; however they are pursuing international options.
• Moes’ is one of the fastest growing franchises in the U.S.
• Moe’s Southwest Grill, a 2007 Top Ten Growth Chain according to Restaurant Hospitality and Technomic, is prepared for vigorous franchise growth.

Bibiliography

Moe’s 2003 Uniform Franchise Offering Circular

Moe’s 2003 Franchise Agreement

Grinberg, Emanuella.”Jerry Garcia’s Heirs Sue Over Burrito Chains Use of His Image” Court TV News. http://www.courttv.com/people/2005/0112/garcia_ctv.html

“Moe’s Confirms Sale” Tampa Bay Business Journal. April 12, 2007
http://www.bizjournals.com/tampabay/stories/2007/04/09/daily50.html

Moe’s Southwest Website. http://www.moes.com/

FOCUS Brands. http://www.focusbrands.com/
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