Overall costs for Golden Corral run anywhere from $2,700,795 to $7,037,915. See how the costs break down and what funding options might be right for your new venture into the franchise foray.
How COVID-19 affects franchising costs
Strict sanitation and employee protection measures during the coronavirus outbreak add to the typical costs you face when opening a new franchise. Paired with the unusually heavy amount of promotions that may be required by the franchise, you may not see as much in the way of profits starting out. For more information on what support is out there, read our guide to
loans for businesses affected by the coronavirus.
Estimated initial costs
Our cost estimates are accurate as of 2019 from
https://www.franchisedirect.com and include opening fees and expenses only. Your location may result in higher or lower fees.
Franchise fees
Golden Corral franchise fees total around $50,000, which is more than the $37,000 average for the 200 largest franchises.
| Initial franchise fee |
$50,000 to $50,000 |
| Estimated total |
$50,000 to $50,000 |
Equipment fees
Equipment fees total $735,730 for Golden Corral. This costs more than the $180,023 average for the top 200 franchises.
| Signage |
$42,100 to $81,000 |
| Furniture and equipment |
$598,860 to $749,500 |
| Estimated total |
$640,960 to $830,500 |
Real estate fees
Real estate will set you back $3,675,000 for Golden Corral, which is more expensive than the average of $788,376 for the top 200 franchises.
| Purchase of land |
$550,000 to $2,000,000 |
| Construction, contractor site preparation and leasehold improvements |
$1,200,000 to $3,600,000 |
| Estimated total |
$1,750,000 to $5,600,000 |
Training fees
Golden Corral initial training costs total $126,625 — more than the nationwide average of $9,788.
| Initial training |
$75,050 to $176,630 |
| General manager workshop |
$785 to $785 |
| Estimated total |
$75,835 to $177,415 |
Inventory costs
Initial inventory for Golden Corral shakes out to $60,000. This is more expensive than the nationwide average of $53,119.
| Inventory |
$40,000 to $80,000 |
| Estimated total |
$40,000 to $80,000 |
Marketing costs
Advertisement and marketing costs total up to $12,500 for Golden Corral, which is more than the nationwide average of $9,938.
| Opening advertising |
$10,000 to $15,000 |
| Estimated total |
$10,000 to $15,000 |
Insurance costs
Initial insurance costs for Golden Corral run $45,000. This means you'll be paying more than the overall nationwide average of $6,311.
| Insurance |
$30,000 to $60,000 |
| Estimated total |
$30,000 to $60,000 |
Administrative fees
Golden Corral administrative fees total up to $100,000 — which comes in over the overall nationwide average of $6,761.
| On-site assistance costs |
$85,000 to $115,000 |
| Estimated total |
$85,000 to $115,000 |
Other expenses
Miscellaneous expenses for Golden Corral total $64,500 — less than the nationwide average of $69,970.
| Three months' additional funds |
$19,000 to $110,000 |
| Estimated total |
$19,000 to $110,000 |
All costs were found using the 200 largest franchises nationwide using Franchise Direct's list of more than 300 franchises, and are accurate as of 2019.
How to finance
The best way to finance Golden Corral comes down to your personal financial situation. What assets you have available will largely determine how much you need to borrow, and which option suits you best. Potential solutions include:
- Bank loan. Your personal credit plays a large role in getting a business term loan from a bank. Typically this type of funding is for larger amounts.
- Online loan. Credit requirements may be more flexible for an online loan than a bank loan, but amounts may max out at a lower amount — typically around $1 million.
- SBA loan. The good part about SBA loans is that they top out at $5 million, but your business has to meet a number of requirements.
- Credit card. Small costs that aren't fixed, such as stray inventory and supply purchases, may be better off on a business credit card. Just make sure you can pay it off quickly to avoid high APRs.
Also check if Golden Corral franchise financing is available. You may be able to get some of the costs covered for less than you would with other traditional funding options.
Compare small business lenders
How Golden Corral stacks up
Compare how Golden Corral holds up against two similarly sized franchises.
| Average Franchise fees |
$25,000 |
$50,000 |
$25,000 |
| Average Equipment fees |
$78,650 |
$735,730 |
$278,425 |
| Average Real estate fees |
$50,000 |
$3,675,000 |
$796,600 |
| Average Training fees |
NA |
$126,625 |
$64,250 |
| Average Inventory fees |
$72,500 |
$60,000 |
$12,500 |
| Average Marketing fees |
NA |
$12,500 |
$16,000 |
| Average Licenses and permits fees |
$9,000 |
NA |
$4,575 |
| Average Insurance fees |
NA |
$45,000 |
$9,250 |
| Average Admin fees |
NA |
$100,000 |
$6,500 |
| Average Personnel fees |
NA |
NA |
NA |
| Average Other fees |
$71,500 |
$64,500 |
$33,000 |
Bottom line
Golden Corral franchise costs run a total of $4,869,355. Before you decide to become a franchisee, compare the total costs against industry averages. And to learn more about financing
read our guide to franchise financing.
