Secret Recipe to franchise in Oz
Malaysian cafe chain, Secret Recipe has been operating in Melbourne for 12 months, and is now on the lookout for potential franchisees across Australia.
With outlets in Singapore, Indonesia, Thailand and China, Secret Recipe's menu is inspired by three different cuisines: Asian classics, popular Western food and fusion cooking.
Australian-based Secret Recipe director Ming Low said the company plans to open at least three new outlets each year and its expansion will be throughout Victoria and extend to New South Wales, Queensland and Western Australia following the acceptance and training of new franchisees.
"Franchising is the engine of growth and now is the right time for us to expand in the Australian marketplace," he said.
Secret Recipe is offering franchisees a five year on five year tenure with an upfront fee of $35,000 in the first term and $25,000, subsequently. It also requires a six percent royalty on sales and a three percent contribution towards its national marketing fund.
Fit out costs range from $150,000 to $300,000 depending on size and location, with Secret Recipe providing the design and store concept that franchisees must comply with.
"Since first opening in Melbourne, we have quickly realised our concept best suits a shopping centre environment because of the family-friendly shop design and value-for-money menu offering, so they are the types of venue we will target," Low said.