TGI Friday's Franchise
TGI Fridays is a casual dining franchise with over 800 locations in the United States and internationally, known for its trademark bar and grill.
$1,000,000
$50,000
269
1969
Dallas,TX
Ray Blanchette
About TGI Friday's
TGI Fridays is a large casual dining franchise with locations throughout the United States as well as a strong international presence. TGI Fridays restaurants aim to create a friendly, casual atmosphere where customers can enjoy good food and drinks while socializing. The restaurants typically include a bar, a selection of on-the-grill items, salads, soups, sandwiches and desserts. The menu includes low-carb and gluten-free options, as well as a kids menu. Locations offer take-out, as well as party platters for large groups. The company prides itself on using high-quality, fresh ingredients, including top-shelf alcohol products, mixers and garnishes for its bars.
Franchise Unit Trends & Revenue
269
8
$2,582,975
* in 2023
Franchise Fees
$50,000
4.0% - 4.75%
Gross Sales
1.5%
Gross Sales
Why Choose TGI Friday's?
Operating since 1965, TGI Fridays is a well-established brand with worldwide name recognition due to its presence in 55 countries. The brand has over 50 years of experience and has shown it has the ability to adapt to changing tastes and markets while retaining its core identity as a casual yet high-quality bar and grill. The chain regularly updates and expands its menu. It has also recently introduced and is currently implementing a décor update to reflect more contemporary tastes.
The company offers its franchisees a wide range of guidance and support before and after opening. In addition to benefitting from brand recognition, franchisees also take advantage of participating in the company's national and regional marketing programs, as well as its digital marketing program.
Starting Costs & Investment Requirements
$2,596,000 - $3,835,000
$3,000,000
$1,000,000
Training & Support
In addition to mandatory initial training, other specialized programs are available.
History
Alan Stillman opened TGI Fridays in 1965 in New York. At the time, he wanted to create a friendly neighborhood bar and grill where young people could enjoy a good time socializing. He wanted the atmosphere of a cocktail party that was open to everyone. From the beginning, Stillman emphasized preparing the bar food and casual American dining menu with high-quality ingredients. The establishment proved very popular, with people waiting outside to get in.
TGI Fridays began offering franchises in 1967 when it opened its second location in Memphis, Tennessee. The following years saw the chain's expansion into the South and the Midwest. Along with this expansion, the restaurant gradually changed its focus from its original cocktail party for singles concept and began catering to families who wanted a high-quality casual dining experience. TGI Fridays always had a reputation for combining traditional American casual fare with new, creative twists. One such successful innovation was the potato skin, which was introduced in 1974 and continues to be a highly popular item.
In 1971, Carlson Companies bought the franchise. After opening its 100th store in 1983, the company went public. At that time, it also began its international expansion when it opened its first location in the UK. In 1985, a location in Marina Del Rey launched what would eventually become the World Bartender Championship; today, 10,000 bartenders from all around the world participate in this competition. In 1989, TGI Fridays reverted to private holding.
Ideal Candidate
TGI Fridays is a high-capital franchise, requiring a net worth of at least $3 million and liquid capital of at least $1 million. The company estimates an investment range of $2,596,000 - $2,835,000. Currently, the company is looking for United States franchisees who can commit to opening at least three locations; this requirement may change in the future.
TGI Fridays is also accepting applications for international franchising. It requires a successful track record running any type of restaurant, from casual to fine dining. Franchisees should have a detailed market plan and proven financial ability to open five restaurants in five years. Prospective franchisees should have strong knowledge of local real estate, understand what they will need to develop the brand and be able to appeal to the local customer base.
Restaurant and Food Franchises
Franchises up to $5,000,000
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