Start a Lobster Joint Franchise in 2024

Franchise 500 Rank: N/R Not ranked last year

Initial investment: $696K - $996K

Units as of 2015: 2

Company Overview

About Lobster Joint

Industry	Food
Related Categories	Miscellaneous Quick-Service Restaurants, Seafood , Miscellaneous Sandwiches
Founded	2011
Leadership	Bob Levitt, CEO
Corporate Address	1073 Manhattan Ave. Brooklyn, NY 11222
Social	Facebook, Twitter

Business Overview

Franchising Since	2015 (9 years)
# of Units	2 (as of 2015)

Information for Franchisees

Here's what you need to know if you're interested in opening a Lobster Joint 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.	$695,600 - $996,400
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.	$50,000 - $100,000
Cash Requirement Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.	$150,000 - $300,000
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.	0.5%
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	Lobster Joint has relationships with third-party sources which offer financing to cover the following: startup costs, equipment, inventory, accounts receivable, payroll

Operations

Additional details about running this franchise.

Is absentee ownership allowed?	No
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
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

Take our quick quiz to find your ideal franchise

Stay up to date on the latest news and trends affecting the franchise industry.

Related Franchises

Are you eager to see what else is out there? Browse franchises that are similar to Lobster Joint.

American Grilled Cheese Kitchen, The

description: Grilled cheese sandwiches, salads, soups, sides

Learn More

Growth Coach, The

description: Business and sales coaching for SMBs

Request Info

Cruise Planners

description: Travel agencies

Request Info

McAlister's Deli

description: Sandwiches, salads, baked potatoes

Request Info

Related Franchise Content

Catch up on the latest franchise news, trends, and more.

Franchise

From Boxing to Pilates to Personal Training — Explore the Top 15 Fitness Franchises of 2024

Flex your franchise muscle and discover today's powerhouse fitness franchises, where sweat meets success in every rep.

By Clarissa Buch Zilberman

Franchise

Doner Shack is an Award Winning Franchise in the Multi Billion Dollar Kebab Market!

Doner Shack offers the most advanced kebab operating system in the world. Comparable to the revolutionary conveyor oven in the pizza industry, our robotic kebab machines offer game-changing innovation

By Matthew Goldman

Franchise

Private Equity Giant Blackstone Acquires Jersey Mike's Subs for $8 Billion

This move solidifies Blackstone's ongoing interest in high-growth, fast-casual franchises and marks a pivotal moment for the beloved sub chain.

By Carl Stoffers

Franchise

5 Founders Who Transformed Franchising — And the Powerful Lessons Behind Their Success

Each of these franchise founders faced setbacks that could have ended their dreams. But they pushed through, creating brands that today feel like a part of our daily lives.

By Trevor Rappleye

Franchise

The Secrets to Finding Your Franchise Match

These are the three most important things you need to know when it comes to finding the best franchise to own.

By Tim Parmeter

Franchise

After 4 Challenging Years, Here Are 3 Ways the Incoming Trump Administration Can Revitalize Franchising

The President of the International Franchise Association explains 3 ways the incoming Trump Administration can revive the franchise model.

By Matt Haller

See more franchise content

Disclaimer

The information on this page is not intended as an endorsement or recommendation of any particular franchise or business opportunity by Entrepreneur Media. Our listings and rankings are solely research tools you can use to compare opportunities. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise or business opportunity. That should include reviewing the company's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees/licensees/dealers.

Updated: December 12th, 2022

For reprints and licensing questions, click here.

Update Your Listing | Submit New Listing

Lobster Joint

Company Overview

About Lobster Joint

Business Overview

Information for Franchisees

Financial Requirements & Ongoing Fees

Financing Options

Operations

Sign Up for Our Franchise Newsletter

Related Franchises

Related Franchise Content