£135,000
Food & Beverage
Yes
£256,000
£35,000
N/A
About Wok to Walk
Founded in 2004, Wok to Walk operates over 100 sites in 18 countries and can be found in iconic urban locations such as NYC’s Times Square and La Rambla in Barcelona.
Its business model has been tested and proven in competitive markets, and is part-owned by Toridoll Holdings, a Japanese restaurant corporation with over 2,000 restaurants worldwide also involved with brands such as Franco Manca and Marugame.
How does the Wok to Walk franchise business model?
Wok to Walk aims to fit in any location and serve up to 140 meals an hour in high turnover units. The franchise outlines its formula to success as:
1. Versatility: The model has worked well in high-street locations, transportation hubs and food courts. It requires extraction but offers flexibility on energy. For example, gas burners can be replaced with electric wok stoves if needed.
2. Convenience: Customers can choose between a flexible range of Asian street food options that cater for all preferences. These meals are freshly made on the spot and can be served to eat-in, takeaway, ordered as delivery or as a catering service.
3. Optimisation: The business model has been optimised for fast scalability, finely tuned business operations, smart solutions, marketing expertise, over the course of 20 years of operation.
What type of franchisee is Wok to Walk looking for?
Wok to Walk is especially interested in partnering with well-financed operators and larger companies with the potential for multi-unit investments. The ideal franchisee will be capable of setting up and running several sites in adjoining territories; 92% of Wok to Walk franchisees operate more than one unit, and many of them are multi-brand corporations.
Access to a real estate network is key to securing prime locations, as is a commitment to the brand’s standards of food quality, service, and sustainability. Previous experience at a management level within the food and beverage franchise industry is highly desirable although not strictly essential. Full training will be provided for operations, and marketing will be carried out by the Wok to Walk team.
Training and support
The Wokademy, where cooks become Woksmiths, is a one-month extensive restaurant, operations, and marketing training course, which is reinforced by video tutorials, manuals, and action plans.
The brand’s business model has also been optimised over 20 years of operational experience in order to create fast and scalable expansions. The Wok to Walk head office team is involved with every step of the franchisee journey, from site selection and design, IT and HR solutions, and checking supply chain quality.
Wok to Walk aims to protect high margins via strategic cost management, low labour costs, and reduced wastage - meanwhile focusing on improving quality rather than decreasing prices.
Financial information
Minimum investment for Wok to Walk is approximately £135,000 (depending on store size and location) including £35,000+VAT in franchise fees. This fee is reduced to £30,000 with the second store and £20,000 thereafter. A Wok to Walk restaurant can reach a profitability of as high as 27% EBITDA, and multi-unit opportunities are both available and encouraged for qualified applicants.
Why is Walk to Wok a good investment?
Wok to Walk’s rapid expansion speaks for itself. The dishes are accessible and fully customisable to satisfy a huge range of tastes, allowing for the brand to flourish across multiple countries in any kind of venue and any demographic. Students, tourists, families and commuters can all enjoy a fresh, fast meal without compromising on quality.
An emphasis on expanding to multiple sales channels has also helped the brand to diversify and adapt to the modern market trends, with the growing take-out, delivery, and catering markets all perfectly suited for Wok to Walk to capitalise on. High volume turnover provides for of up to 140 meals an hour in some locations, while the flexibility of the easily implemented store footprints allows for a venue to fit anywhere so more markets become available.
Wok to Walk also has a brand focus on sustainability, introducing innovative solutions to reduce their wastage, support animal welfare, and improve the environment. Single-use plastics are kept to a minimum, trending towards 0%, while food wastage can be kept low with multi-purpose ingredients. This not only reduces environmental impact, but it improves food costs and profitability for franchisees.
What locations is Wok to Walk looking to target?
London, Bristol, Leeds, Cardiff, Coventry and Manchester are the cities that currently have Wok to Walk presence. The company’s goal now is to grow its existing presence in all of those cities, and to expand across the country as one of its key growth territories.
What are the franchise terms of agreement and renewal?
The Wok to Walk franchise agreement is a 10 year term and renewable for a further 10 years.
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