T.G.I. Friday’s is an international chain restaurant well known for its quick, casual dining experience and red-and-white-striped canopies. T.G.I. Friday’s acronym stands for “Thank Goodness It’s Friday” and aims to promote a fun environment where “it’s always Friday.” The menu offers a variety of appetizers, steaks, burgers, seafood, sandwiches, pastas, and chicken dishes. Beyond the food, T.G.I. Friday’s also emphasizes its bar with a lengthy list of wine, beer, and custom-made cocktails. Healthier food options – and cocktails – are also featured on the menu, to cater to a low fat/low carbohydrate-seeking crowd.
Facts & Figures
Liquid capital required
Net worth required
T.G.I. Friday’s is a privately held restaurant franchise. International sales combine to over $2.5 billion each year, serving two million patrons. Though the majority of locations are in the United States, there are nearly 1,000 T.G.I. Friday’s around the world, including in 59 countries. Franchisees are required to have at least five years of experience in restaurant management.
T.G.I. Friday’s Franchise Opportunities - History
In 1965, with just $10,000, Alan Stillman, a perfume salesman, opened the first T.G.I. Friday’s in New York City in order to recreate a cocktail party setting in a public place. Over time, the company has evolved to become more of a dining environment than the single’s bar it started out as. It began franchising in 1988.
T.G.I. Friday’s Franchise Cost /Initial Investment/ Income
In the United States, the total investment in a T.G.I. Friday’s is between $2 – 6 million, hence franchisees must have a net worth of at least $6 million. Amounts differ for international franchisees, but estimates can be obtained by contacting T.G.I. Friday’s. We do not currently know the average franchise income.
T.G.I. Friday’s Business Opportunities: Other Information
Franchise owners must provide financial statements, a 5-year marketing plan, and have an understanding of the local market in which they are looking to open up. T.G.I. Friday’s offers to help franchisees by providing support with market planning, project management, site selection, and brand standard guidelines. T.G.I. Friday’s licenses itself to Heinz. Heinz uses the name to sell frozen foods in grocery stores.
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