Build Your Own Franchise

With a growing number of health-conscious diners looking for nutritional dishes on fast-food restaurant menus, Chris Spears and Gary Williams are making sure these selective eaters have somewhere to go. In 2004, the business partners opened the first of many planned Nemos Seafood restaurants, a take-out

How do they know they've hooked a winning idea? Before a customer ever set foot in their first store in Linden, New Jersey, the partners had already sold three franchises. Today, the number of existing and contracted Nemos Seafood franchises has reached 70, and locations include Maryland, Georgia, New York, and Pennsylvania.

The Nemos Seafood owners are discovering that franchising their business has tremendous advantages, from expanding with minimal capital investment--since franchisees provide the initial investment--to competing more effectively against much larger competitors. "They saw the vision," says Williams, 34, Nemos Seafood's chief financial officer, referring to franchisees who were attracted to the company's health-conscious concept in take-out food. "We had our franchise package together, we explained it, and they wanted to be a part of it."

Spears and Williams, both former Blimpie franchise owners, invested $250,000 from personal savings, proceeds from the sale of their Blimpie properties, and a home equity loan to turn an old Chinese restaurant into the first Nemos Seafood. Their investment has paid off. Last year, Nemos Seafood's corporate store brought in $650,000 in revenues. For 2006, Williams is confident they'll reach the $900,000 mark. Their franchise stores can expect an average $600,000 in annual revenues.

Interested in becoming a Nemos Seafood franchise owner? Total startup costs, including the franchise fee, range from $167,000 to $249,000, depending on the size of the location. A 20% deposit (about $33,000) is required once paperwork is complete. Visit www.nemos-seafood.com for additional information.

RELATED ARTICLE: Do you have a business you can franchise?

Just about any type of business can be franchised. But you have to determine if your business concept and operation are ready for franchising before you begin the process. Nemos Seafood owners Spears and Williams offer this advice: