What is the estimated range for leasehold improvements for a Crave location, and is this cost dependent on site conditions?
Crave Franchise · 2025 FDDAnswer from 2025 FDD Document
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| (1) Type of Expenditure | (2) Amount | (3) Method of Payment | (4) When Due | (5) To Whom Payment is to be Made |
|---|---|---|---|---|
| Initial Franchise Fee (1) | $45,000 | Lump Sum | When Franchise Agreement Signed | Us |
| 1 Month (2) | $5,000 to $15,000 | As arranged | As arranged | Landlord |
| Rent – | ||||
| Lease & Utility (3) Security Deposit | $4,000 to $15,000 | As arranged | As arranged | Landlord, Utility Companies |
| Design & Architect (4) Fees | $1,000 to $35,000 | As arranged | As arranged | Designer or Architect |
| Leasehold | $100,000 to $700,000 | As arranged | As arranged | Contractor |
| Improvements (5) | ||||
| dependent on site conditions | ||||
| Signage (6) | $3,000 to $30,000 | As arranged | As arranged | Suppliers |
| Equipment, | $70,000 to $160,000 | As arranged | As arranged | Suppliers |
| Furniture and | ||||
| Fixtures (7) | ||||
| Point-of-Sale & Computer (8) Equipment | $1,500 to $5,500 | As arranged | As arranged | Suppliers |
| Business Licenses & Permits (Not Including Beer/Wine (9) License) | $500 to $4,000 | As arranged | As arranged | Government Agencies |
| Professional Fees | $1,000 to $3,500 | As arranged | As arranged | Attorney, |
| (10) | Accountant | |||
| Insurance – 1 (11) Month | $1,000 to $3,000 | As arranged | As arranged | Insurance Companies |
| Initial Inventory | $8,000 to $15,000 | As arranged | As arranged | Suppliers |
| Food & Other | ||||
| (12) | ||||
| Items | ||||
| Initial Inventory | $100 to $1,000 | As arranged | As arranged | Suppliers |
| (12) | ||||
| Alcohol |
| (1) Type of Expenditure | (2) Amount | (3) Method of Payment | (4) When Due | (5) To Whom Payment is to be Made |
|---|---|---|---|---|
| Training Expenses | $500 to $1,500 | As arranged | As arranged | Airline, Hotel, |
| (13) | Restaurant, etc. | |||
| Grand Opening | $5,000 | As arranged | When Premises | Us |
| Marketing (14) | Lease Signed | |||
| Additional Funds – | $15,000 to $30,000 | As arranged | As arranged | You Determine |
| 3 Months (16) | ||||
| Total (17) | $260,600 to $1,068,500 |
* * * * * YOUR ESTIMATED INITIAL INVESTMENT – FOOD TRUCK
| (1) | (2) | (3) | (4) | (5) |
|---|---|---|---|---|
| Type of Expenditure | Amount | Method of Payment | When Due | To Whom Payment is to be Made |
| Initial Franchise Fee (1) | $30,000 | Lump Sum | When Franchise Agreement Signed | Us |
| Truck with (15) Equipment | $225,000 to $285,000 | As arranged | As arranged | Designated Supplier |
| Signage (6) | $0 to $250 | As arranged | As arranged | Suppliers |
| Point-of-Sale & Computer Equipment (8) | $1,000 to $2,500 | As arranged | As arranged | Suppliers |
| Business Licenses & | $200 to $1,000 | As arranged | As arranged | Government |
| Permits (9) | Agencies | |||
| Insurance – 1 Month (11) | $100 to $800 | As arranged | As arranged | Insurance Companies |
| Initial Inventory | $2,000 to $5,000 | As arranged | As arranged | Suppliers |
| Food & Other Items | ||||
| (12) | ||||
| Training Expenses | $500 to $1,500 | As arranged | As arranged | Airline, Hotel, |
| (13) | Restaurant, etc. |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 19–26)
What This Means (2025 FDD)
According to Crave's 2025 Franchise Disclosure Document, the estimated cost for leasehold improvements for a Crave restaurant ranges from $50,000 to $250,000. For a Crave food truck, the estimated cost for leasehold improvements ranges from $100,000 to $700,000. These costs are dependent on site conditions.
The FDD specifies that the cost of leasehold improvements can vary significantly based on several factors. These include the size and configuration of the premises, pre-construction costs such as demolition and removal of existing fixtures, and the cost of materials and labor. The cost of materials and labor may fluctuate depending on geographic location and whether union labor is required for the build-out. The FDD notes that these amounts may vary substantially based on local conditions, including the availability and prices of labor and materials.
The FDD also notes that the condition of the space before taking possession can affect costs. The lower end of the estimate assumes the space previously operated as a restaurant and will be converted into a Crave restaurant. The higher end of the estimate assumes a "vanilla box" space requiring more extensive improvements. The estimate does not include any tenant improvement allowance that may be negotiated with the landlord. Franchisees are required to use Crave's designated supplier as the contractor for the build-out of their restaurant. If the outlet has axe throwing, the franchisee must use Crave's approved supplier for the design and build-out of the axe lanes.