Great Wraps Franchise

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Detailed Information

Capital Required
$159,500 - $485,500

Liquid Capital
$175,000

Net Worth
$300,000

Financing Assistance
Available Via Third Party

Training and Support
Available

Initial Franchise Fee
$22,500

CEO Name
Mark Kaplan

Existing Units
56

 

Overview

Great Wraps restaurants serve a wide selection of hot sandwiches and wraps. The brand focuses on using healthy ingredients and infusing them with bold flavors. Cooking techniques such as grilling and unique flavors inspired by various worldwide cuisines are used to make healthy ingredients taste indulgent. Many menu items are based on classic Greek, Southwest, and Middle Eastern flavors. Some wraps have pita bread whereas others have traditional or flavored tortillas that hold the fillings.

Great Wraps restaurants also offer cheesesteak sandwiches and bowls that have similar ingredients to wrap fillings. Customers can also get platters of chicken strips or chicken wings. Side dishes include fries, salads, and hummus. Great Wraps restaurants operate in mall food courts, airports, and universities. There are also larger café locations that seat 30 to 60 people. All restaurants utilize a standard décor theme, cooking equipment, and menu items.

Why Choose Us?

Great Wraps may be a good choice for franchisees who wish to enter the food industry but prefer to invest in something different from a burger brand. Great Wraps, Inc. is looking to grow the brand, and franchisees may find numerous untapped territories available. The brand promotes its concept of "balance," with healthy menu items that taste delicious. This brand positioning may have long-term success, as many consumers are increasingly looking for fast-food options that are convenient and tasty but still healthy. The option of operating under an alternate name ("Gyro Wraps") may give franchisees the chance to be more successful in some markets.

Franchisees also have a choice as to which type of franchise to open. Great Wraps offers four unique opportunities: mall sites, airport operations, university locations, and café restaurants. Mall franchises are typically located in food courts whereas café restaurants may be part of inline shopping centers or high-volume office buildings. The franchisor is open to Area Development Agreements as well, provided franchisees can showcase relevant experience. This variety of franchise opportunities may be attractive to franchisees who want to reach a large target audience of potential customers.

Ideal Candidate

Ideal candidates must meet the fairly strict financial requirements of $175,000 in liquid assets and $300,000 of net worth. Additionally, the franchisor strongly encourages franchisees to personally oversee operations in their restaurants. While previous experience in the food industry or as an entrepreneur isn't required, candidates with these qualifications may find opportunities for Area Development Agreements.

History

The franchisor for Great Wraps (Great Wraps, Inc.) originally incorporated in 1988 under the name SKS, Inc. However, the restaurant concept goes back a little further. It started with a corporation called Shipfeifer, Inc. which sold fast-food franchises called Shipfeifer's Gyro-Wrap beginning in 1979. All of Shipfeifer, Inc.'s franchise assets were purchased by SKS, Inc. when it incorporated. Later in 1989, the corporation changed its name from SKS, Inc. to Gyro Wrap, Inc.

It was in 1989 that the first Gyro Wrap franchises were offered. The corporation changed its name in 2001 to Great Wraps, Inc. Currently, franchise opportunities are offered under the name "Great Wraps." However, the franchisor still owns the "Gyro Wraps" name and allows franchisees to operate under that name if desired. There have also been a few franchises allowed to operate under the name "GW Cheesesteaks," but it is not clear if this name is available for future franchises.

Training And Support

Great Wraps provides a mandatory training program for the franchisee (or a designated representative) and the initial store manager. Training takes place at a franchisor-designated store in Atlanta, Georgia. This program is generally about 14 days long and includes both management and operational training. Additional seminars may be offered, which are optional unless the franchisor deems them required for franchisees.

This web page is not endorsed by or affiliated with any franchisor. Product and company names are trademarks of their owners and are used for referential purposes only.
 

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