What is the estimated range for leasehold improvements for a Crave restaurant, and does it depend 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 |
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 Restaurant and $100,000 to $700,000 for a Food Truck. These costs are dependent on site conditions.
The FDD notes that the cost of leasehold improvements can vary significantly based on factors such as the size and configuration of the premises, pre-construction costs (including demolition and removal of existing improvements), and the cost of materials and labor. These costs may also vary depending on whether the landlord contributes to the improvements and the condition of the space before possession.
The lower end of the estimate assumes the franchisee leases a space that previously operated as a restaurant and will be converted into a Crave restaurant. The higher end assumes the franchisee leases a "vanilla box" space, requiring more extensive improvements. The estimate does not include any tenant improvement allowance that may be negotiated with the landlord. Crave also requires franchisees to use their designated supplier as the contractor for the build-out of the restaurant and approved supplier for the design and build-out of axe lanes, if applicable.