What is the range for the estimated total initial investment for a Churchs Chicken franchise, excluding real estate costs?

estaurant will vary according to the circumstances.

YOUR ESTIMATED INITIAL INVESTMENT: End Cap Restaurant

An End Cap Restaurant is located at the end of a retail space in a shopping center or Travel Plaza, can have both dine-in and drive-thru facilities, and complies with our current brand standards, including the "Blaze Image." The estimated initial investment for an End Cap Restaurant with about 1,500 square feet is described in the table below. The low end of the estimates below reflects very limited site work plus "Tenant Improvements" (retrofit or renovation work required to convert existing space). The high end of the estimates reflects adding new building structure and site work to create the restaurant. The initial investment to convert an existing building to a Blaze Image restaurant will vary according to the circumstances.

NOTES:

Starting in early 2022 we began constructing free-standing "Blaze Image" restaurants that will include our new "Church's Texas Chicken" trademark. See Item 13 of this disclosure document for information regarding the "Church's Texas Chicken" trademark.

• 1. All costs paid to us are non-refundable.
• 1. You can find additional details about these fees in Item 5 above.
• 1. When you sign the Franchise Agreement, you will pay $15,500 to us for Grand Opening Funds, to be used for the purpose of conducting a Grand Opening Advertising Campaign ("GO Campaign") beginning no earlier than the date the Restaurant opens and ending no later than 90 days after the opening of the Restaurant. We will use all of the Grand Opening Funds to cover the cost of design and placement of all creative materials for the GO Campaign. The Grand Opening Funds are fully earned by us when paid and are not refundable. After the completion of the GO Campaign, on your request, we will provide written proof that the Grand Opening Funds were spent in their entirety. We highly recommend that you invest an additional $9,500 for an optional Grand Opening
• 1. We cannot estimate your initial investment for real estate. However, the following factors will bear on the amount of your investment. If you do not already own adequate Restaurant space, you will have to purchase or lease land and a building for the Restaurant. Typical locations for Restaurants are shopping centers, urban commercial areas and suburban shopping areas. These typical Restaurants range in size from 1,200 to 1,700 square feet. Free-Standing restaurants in suburban locations will require from 28,000 to 32,000 square feet of land for the Restaurant and adequate parking facilities. The cost of commercial land or restaurant space, whether you lease or buy, varies considerably depending on the location and conditions affecting the local market for commercial property. Based on rent paid for our Company Restaurants during fiscal year 2024, we estimate that the annual rent for leased space will range from $12,000 to $185,000, depending on factors such as the following: whether the Restaurant is located within an existing retail business (e.g., shopping center), is a freestanding building or is an inline or corner unit in a strip center. Please note that, because we are a AAA-rated tenant, our rent may be less than yours. Security deposits should not exceed an average of two months' rent on the property. The cost of converting land to use as a Restaurant may vary widely depending on the previous use and condition of the property.
• 1. The initial investment for site work can vary significantly depending on location and size of the Restaurant. The amount of site work needed will depend on the condition of the land when leased or purchased.
• 1. Free-Standing Restaurants are ordinarily of wood frame, EIFS (Exterior Insulation and Finish System) and/or masonry construction. The estimates provided assume new ground-up construction.
• 1. You must purchase certain items of furniture, fixtures, equipment, signage, digital menu boards, drive-thru timers, smallwares, and computer systems (including a POS System, back-office software and credit card processing as described in Item 8 and Item 11), and the estimates provided assume these items are purchased new. The Manual contains a complete list of the equipment needed. The cost of equipment and signage varies depending on the size and location of the Restaurant.

Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 24–31)