Harry’s

Description

About Harry’s

Harry’s adventure begun in 1992 with an outlet along the scenic Boat Quay. Over the years, the bar and dining establishment grew to become one of the most well-established in Singapore, with 20 stores strategically located at key business districts and suburban areas.

Guests can tuck into a well-curated menu carefully executed to suit every preferred taste; all best washed down with a quality tipple. Aside from signature concoctions, Harry’s also offers a wide range of ice cold brews including their very own Harry’s Premium Lager – where the light and crisp flavours are accompanied by a distinct floral hoppiness.

With an inviting and welcoming ambience, it is certainly no wonder why Harry’s is home for many to unwind at. From sports fanatics cheering on their favourite teams during a live telecast, to colleagues knocking back a few pints and friends catching up over great food and live entertainment, Harry’s unique charm brings together everyone with its sense of comfort and familiarity.

 

Our Concept

Authenticity: To create, and recreate, honest-to-good comfort food with its own signature twist.

Connection: Inviting and welcoming ambience; sense of comfort and familiarity.

Dedication: Passionate individuals coming together to create the best bar and dining adventure for all.

Payback period:
Average turnover per month:
Royalties: 5% of the outlet’s Gross Sales on a monthly basis for royalties + 2% of the Gross Sales on a monthly basis for local stores marketing initiatives.
Franchise fees:

45,000 USD per franchising unit

i. Area Development Fee

The Area Development Fee awards the franchisee exclusive rights to run a franchised outlet in the designated territory. The cost of each agreed outlet is USD 30,000, and as such, should be multiplied by the total number of agreed outlets for the full Area Development Fee to be paid.

For instance, if a total of 5 outlets have been agreed upon for a specific area, then a total of USD 150,000 (USD 30,000 multiplied by 5) will need to be paid by the franchisee.

Payment Schedule
The franchisee would need to pay a deposit of 25 percent of the full Area Development Fee upon signing the Letter of Intent. This deposit is refundable only for any out-of-pocket expenses incurred, such as for market visits and research, legal fees, etc. The remaining 75 percent of the Area Development Fee will then be paid upon signing of the Area Development Agreement.

 

ii. Individual Unit Franchise Fees

Upon the opening of each outlet, an Individual Unit Franchise Agreement will also be signed, to safeguard the interests of both parties. The validity of each Individual Franchising Agreement is dated from the opening of each individual outlet, and is worth USD 15,000.This fee would also be used to pay part of the business operations cost related to the setting up of a unit in the specific territory.

For instance, if the agreed validity of the Individual Franchising Agreement is dated at 10 years, then the franchisee will need to pay a sum of USD 15,000 as each agreed outlet opens, with each outlet’s franchising rights of 10 years dating from the day the agreement was signed.

Should there be a total of 5 outlets agreed within the specified territory, then there would be 5 different Individual Unit Franchise Agreements.

In the event that the Area Development Agreement is forfeited due to inability to meet the development schedule accordingly, the franchisee will still be able to run the outlets he has set up and possess the rights to the Individual Unit Franchise Agreement for the remaining period of the agreement.

Payment Schedule
The Individual Unit Franchise Fees of 15,000 is to be paid upon signing the Franchise Agreement, and 30 days prior to an outlet’s opening.

 

Should the franchisee open additional outlets after meeting the amount of outlets agreed upon within the development schedule, he/she can then enjoy preferential rate for the Franchising Fees.

Other current payments:
Request information

Requirements

Becoming a Harry’s Franchisee

Franchising with Harry’s is sold by market areas, which empowers our franchisees to build up a portfolio of their own within an agreed market territory. Our franchisees should be well-capitalised and dedicated to developing 6 – 10 outlets within a period of 6 years.

Additionally, past experience in managing chain food & beverage establishments or other related businesses would also be an advantage for our franchisees to overcome obstacles and build a strong chain of their own.

 

Stages of Franchising Relationship
The following highlights the different stages of your potential franchising partnership with Harry’s:

 

I. Area Development Agreement 

Allows franchisee to set-up and develop a specific number of outlets within a defined territory. Franchisee has to be able to develop said outlets within a development schedule, within a given period.

Benefits: Franchisee has the exclusive rights to develop and run the franchised outlets of an area, should he/she be able to meet the development schedule. Depending on the agreement, the area developer may have the rights to collect part of the franchising fee and royalty fees generated by the units open by a sub-franchisee within the territory.

 

II. Master Franchise Agreement 

Awarded only when the franchisee has met the development schedule, a master franchisee has exclusive rights as an area developer, and will be able to take up a bigger territory. Master Franchisees have to run and operate the following:

 A minimum of one outlet for generation of sales

 A minimum of one outlet for franchise sales

 A minimum of one outlet for training purpose

Benefits: Our Master Franchisees has the ability to sell multi-unit franchising and profit from the sales. He/She will also earn part of the royalties from each sub-franchisee, as well as additional income from sales of products and any other real estate interests within the franchisee’s territory. With the master franchise agreement, you will benefit from multiple revenue streams and substantial returns on investment.

Investments

Harry’s International Franchise Requirements

The capital requirements for potential franchisees are as follow:

6 – 10 Units

1. Minimum net worth of USD 1,800,000

2. USD 500,000 per unit, in terms of cash, liquid assets, or any other available financing

 

10 Units or More

1. Minimum net worth of USD 3,000,000

2. USD 450,000 per unit in terms of cash, liquid assets, or any other available financing

These minimum requirements are not inclusive of any other potential costs needed to operate our units. The loan taken from the bank, or any other financial houses, should not be more than 50 percent, with a debt ratio not more than 50 percent.

Harry's

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