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Bojangles’ – A Famous Regional Fast-Food Restaurant Chain in America
Bojangles’ Inc. is one of the most popular restaurants chains of fast food spreading across the southeastern region of the United States. Operating and franchising limited numbers of service restaurants, the company today operates about 699 restaurants in the US that include 301 as company operated as well as 398 as franchised.
However, it does not want to limit its existence within one region of the country. Rather, it is rigorously seeking for expansion opportunities worldwide. In fact, the company has recently signed an agreement of franchise development for Pennsylvania.
Its current market position
Traded under the NASDAQ with the ticker name BOJA, Bojangles’ Inc. turns out a profitable venture for the investors over the years. According to the Entrepreneur India, the company occupies 99th position amongst the top franchise 500 companies. On the other hand, as per the analysis of Fortune, investors are in huge mass attracted towards the shared of chicken and biscuits. The moment company disclosed its earnings this year; it has lived at par the expectations of the Wall Street estimates.
According to the annual financial report of the Market Watch, the company’s net earned income as of 2015 is $26.53 million. However, as per the current financial report of the Wall Street Journal, the company showed an overall revenue growth of 7.19% accounting to $133.20 million. With total debt amounting to $202.72 million and liabilities of $365.13 million, the company can surely turn up a noteworthy investment for you.
Its origin story
The year 1977 marks the emergence of this popular fast food restaurant chain as the visionary dream of Richard Thomas and Jack Fulk in Charlotte, North Carolina. Being the veteran operators of restaurant, both the owners decided to serve the growing demands of consumers for delicious and mouth-watering food, that too in quick services. Furthermore, looking at the growth of the company in its first year, the company started to open its franchises in the year 1978.
With the passage of years, the company went through various leaps and bounds. A big turnover came into its achievement when the company showed highest level of sales in the year 1981. This year also marked the transfer of ownership from jack Fulk to The Horn & Hardart Company. By the year 2003, the company was able to open over 300 restaurants across different US locations.
The company gained great recognition of being the #1 franchise restaurant in the category of chicken according to Technomic, a winsight company in 2007. The year 2008 also brought great achievement for the company as the Wall Street Journal named the company amongst the top 25 high performers of eight restaurant franchises. Furthermore, in the year 2015, Bojangles’ registered itself publicly on NASDAQ with the ticker name of BOJA.
How it operates?
Owning to its growing popularity, the company today has its presence across more than 600 locations since its inception. Furthermore, it is continuously seeking for suitable properties on lease to open its new corporate or franchised restaurants at different areas. The investors who are interested to share the profits of the company need to invest about $1.5M to $3M.
Furthermore, as per the lease corporate lease agreement of the company, the minimum tenure for the lease of your property may vary from 15 to 20 years. However, depending on the profit growth, it can further extend the lease term from 20 to 40 years. With its capital rate ranging between 5.5% and 6.50%, the company also assures its investors to increase the rent of their leased properties after the completion of every 5 years by 10%.
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