Friendly's Franchise

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Detailed Information

Capital Required
$482,200 - $1,959,600

Liquid Capital
$1,000,000

Net Worth
$3,000,000

Financing Assistance
Available Via Third Party

Training and Support
Available

Initial Franchise Fee
$35,000

CEO Name
George Michel

Company Owned Units
101

Existing Units
200

 

Overview

Friendly’s serves breakfast, lunch and dinner, but it made a name for itself scooping out ice cream in a family-friendly atmosphere. The restaurant’s signature creations include the Jim Dandy and the Hunka Chunka PB Fudge.

In addition to its varied menu, Friendly’s offers catering and delivery to individual customers through third-party services. Some of its locations offer online ordering and drive-through lanes. Most of its restaurants are located in New England.

Why Choose Us?

Many people have warm memories of spending time at Friendly’s with their friends and families. The brand name and reputation are there, and Friendly’s has set a high bar for potential franchise owners. It has recently emerged from bankruptcy protection and undergone leadership changes, so if you’re selected for a franchise, it stands to reason that you were carefully vetted and have extensive corporate support behind you.

Ideal Candidate

Friendly’s has specific criteria for new restaurants, such as: at least 115,000 households living within a three-mile ring and bringing in an average income of $65,000. At least 65,000 people must also be employed within that ring. The restaurants should be 3,200 square feet with a drive-through opportunity and a minimum of 50 to 60 parking spaces. Friendly’s wants owners or managers of already existing multi-unit developments to invest, and preferably, they would open multiple Friendly’s locations. To this end, the franchise fee drops to $30,000 after the fee of $35,000 for the first two.

Friendly’s wants new restaurants opened in the following states: Connecticut, Delaware, Florida, Massachusetts, Maryland, Maine, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, South Carolina, Virginia, Vermont and Ohio. If you own multiple business units and can find a great site in one of those states, you may be the ideal franchise owner.

History

Friendly’s was founded as an ice cream shop called Friendly in 1935 in Springfield, Massachusetts. Brothers Curtis and S. Prestley Blake needed summer jobs during the Great Depression and borrowed money from their mother to get Friendly going. The restaurants really took off post-World War II, and Hershey Foods acquired Friendly’s in 1979. It is currently owned by Sun Capital Partners, which bought Friendly’s in 2007. The Florida-based private equity firm has holdings that include Boston Market, Johnny Rockets and Smokey Bones.

Training And Support

Training includes owner orientation and a program for the management team.

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