Start a LemonShark Poke Franchise in 2024

Franchise 500 Rank: N/R Not ranked last year

Initial investment: $342K - $866K

Units as of 2020: 20 400.0% over 3 years

LemonShark Poke is a franchise that serves locally made premium poke. The franchise’s main focus is to improve the general well-being of its customers by serving only the best meals made from high-quality ingredients.

Founded in 2016, LemonShark Poke is headquartered in Santa Monica, California, specializing in serving poke bowls, seafood, and healthy food. The string of restaurants is named after the Lemon Shark, a unique family that only preys on the best fish. Inspired by the fish, LemonShark Poke only uses healthy and mature fish to feed its customers.

Why You May Want to Start a LemonShark Poke Franchise

The mission of LemonShark Poke is to be a leader in the poke restaurant category in the franchise industry. If you are a premium fish lover, want to invest in the restaurant industry, or would like to create a world-class partnership network, becoming a LemonShark Poke franchisee may be an ideal option.

While you do not have to possess any restaurant experience, you do need to have strong business acumen in four key departments: sales/marketing, customer service, employee, and excellent financial management skills. You also need to be passionate about the brand as a whole.

Opening a LemonShark Poke franchise may offer a more predictable outcome than investing in a completely new brand that could struggle to thrive in an already crowded and competitive industry.

What Might Make a LemonShark Poke Franchise a Good Choice?

LemonShark Poke believes it is more than a place where customers can treat themselves. It is a place where respect and empathy are guaranteed, and everyone feels at home. For franchisees, the franchise offers a protected territory backed by demographic research.

Given that location is a significant factor in determining the potential success of any restaurant, LemonShark Poke has founders with over 25 years worth of experience in lease negotiation to help you secure the best terms possible at suitable locations.

To be part of the LemonShark Poke franchise team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees. Franchisees will also need to meet the company’s set net worth and liquid capital requirements.

How To Open a LemonShark Poke Franchise

Before opting to become a LemonShark Poke franchisee, you must research to ascertain that a LemonShark Poke Bowl restaurant will do well in your community. You should also come prepared with questions to ask the company or look for reviews from experienced franchisees. While competition is healthy, too much of it can inhibit the growth of your business.

If awarded a franchise, franchisees receive a great deal of support from the LemonShark brand throughout the franchising process. In addition to pre-opening training, franchisees receive support through brand awareness, marketing, research, and construction. Potential LemonShark Poke franchisees may also receive hands-on training and continued support after their franchise location has opened.

Company Overview

About LemonShark Poke

Industry	Food
Related Categories	Asian Food, Seafood , Miscellaneous Quick-Service Restaurants, Poke
Founded	2016
Parent Company	Lemonshark Franchising LLC
Leadership	Richard Gottlieb, CEO
Corporate Address	729 Montana Santa Monica, CA 90403
Social	Facebook, Twitter, LinkedIn, Instagram

Business Overview

Franchising Since	2017 (7 years)
# of employees at HQ	15
Where seeking	This company is offering new franchises in the following US states: This company is offering new franchises in the following international regions:
# of Units	20 (as of 2020)

Information for Franchisees

Here's what you need to know if you're interested in opening a LemonShark Poke franchise.

Financial Requirements & Ongoing Fees

Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee Definition: The initial fee paid to a franchisor to join their system What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.	$40,000
Initial Investment Definition: The total amount necessary to begin operation of the franchise What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.	$341,950 - $866,400
Net Worth Requirement Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.	$500,000
Cash Requirement Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.	$30,000 - $50,000
Veteran Incentives Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.	15% off franchise fee
Royalty Fee Definition: A ongoing fee paid to the franchisor on a regular basis. What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.	6%
Ad Royalty Fee Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts. What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.	2%
Term of Agreement Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.	10 years
Is franchise term renewable?	Yes

Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

Third Party Financing	LemonShark Poke has relationships with third-party sources which offer financing to cover the following: startup costs, equipment, inventory, accounts receivable, payroll

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training	112 hours
Classroom Training	36 hours
Ongoing Support	Newsletter Meetings & Conventions Grand Opening Online Support Security & Safety Procedures Lease Negotiation Field Operations Site Selection Proprietary Software Franchisee Intranet Platform
Marketing Support	Co-op Advertising Ad Templates Regional Advertising Social Media SEO Website Development Email Marketing Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed?	Yes
Can this franchise be run from home/mobile unit? Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.	No
Can this franchise be run part time? Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.	No
# of employees required to run	2-3
Are exclusive territories available? Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.	Yes