Quaker Steak & Lube Announces New Franchise Development Incentive
Casual dining franchise Quaker Steak & Lube, known for its award-winning food, including Best Wings USA and more than 20 sauces, announced that it is offering a new franchise development incentive to drive the company’s aggressive nationwide growth. Now through April 30, franchisees that sign to open more than one Quaker Steak & Lube restaurant will receive waived development fees, 50 percent off of the initial franchise fee, and discounted royalty fees. Each incentive is part of Quaker Steak & Lube’s plan to attract new franchisee candidates for growth markets across the country.
“Throughout 2017, we focused our energy on revitalizing Quaker Steak & Lube as a whole and implemented various improvements from streamlining operations to crafting our food and beverage menu to best serve our customers,” says Bruce Lane, vice president of operations and franchise services. “Now, we are fueling our efforts to aggressively expand. These special incentives come at a great time for the brand as we are looking for additional franchisees to help carry on the legacy of what Quaker Steak & Lube has become—while bringing our new and improved look, as well as our new Quaker Steak & Lube Express concept, to markets across the country. This is a one-of-a-kind opportunity and we are thrilled to meet entrepreneurs that are interested in taking advantage of the offer and growing the brand.”
New qualified Quaker Steak & Lube franchisees can now take advantage of significant offers, including 50 percent off of the initial franchise fee — a $20,000 value—and reduced royalties for the first three years, including the first year at 2.5 percent—a substantial savings from the standard royalty rate of 5 percent. The royalty rate will increase slightly to 3.5 percent in the second year and 4.5 percent in the third year.
Quaker Steak & Lube is looking to grow its national footprint by expanding to target markets such as Indianapolis, Indiana; Columbus, Ohio; Toledo, Ohio; Philadelphia, Pennsylvania; Lexington, Kentucky; Louisville, Kentucky; and across Florida. Candidates should have multi-unit ownership experience, preferably in the restaurant industry, at least $1 million in liquid assets and a minimum net worth of $3 million. Quaker Steak & Lube offers building designs to capitalize on the square footage, both inside and outside of the building, which includes the Custom Cruiser (freestanding), Power Lube (freestanding or endcap), and new Quaker Steak & Lube Express concept, with additional opportunities for conversions and non-traditional buildouts.
Purchased in 2016 by TravelCenters of America—a Fortune 500 company operated by the TA Restaurant Group and one of the country’s largest multi-unit operators—Quaker Steak & Lube is in the midst of a revamp and recently added a new corporate chef and launched a new menu nationwide. Under the leadership of its experienced executive team, TA Restaurant Group is evolving Quaker Steak & Lube’s restaurant design, while keeping the signature ambiance of racecars suspended from the ceilings and gas station memorabilia lining the walls. The brand also is developing more flexible, non-traditional buildouts for franchisees to allow more aggressive growth in stadiums, colleges, kiosks, and airports.