Golden Krust Franchise Cost, profit & Failure Rate 2024

Golden Krust is a Caribbean restaurant known for its delicious Caribbean cuisine. If you want to open a Golden Krust franchise, you are at the right place.

Here, you will get all the information before investing in the franchise and know about the restaurant’s background and franchisee policies.

So, keep reading to learn more.

Golden Krust Franchise

About Golden Krust

Golden Krust Caribbean Bakery & Grill is a privately owned company that creates and sells Caribbean food and operates Caribbean restaurant franchises.

Golden Krust products can be found at franchise restaurants, groceries, universities, hospitals, and other foodservice establishments around the country.

‘Reggaefest combos with jerk chicken, fish, goat, and curried chicken; sides like dumplings and fried plantains; pastries like carrot cake and duck bread; sandwiches and wraps, soups and salads, and even breakfast are all available at Golden Krust.

Golden Krust feels that the success of its company is contingent on the achievement of its franchisees, so they are committed to assisting franchisees in achieving that success.

Moreover, Golden Krust seeks franchisees who have a strong drive to succeed, the ability to manage successfully, and the willingness to invest the time and effort required to grow a business.

Golden Krust will walk franchisees through the important considerations that go into beginning a successful business, such as choosing a location, merchandising and inventory, hiring and training employees, and marketing.

History Of Gloden Krust

Ephraim and Mavis Hawthorne, who had previously founded Hawthorne & Sons Bakery in St. Andrew, Jamaica, established the first Golden Krust single store in the Bronx, New York, in 1989.

They had grown to 17 eateries in New York City by 1996 and started franchising the following year.

Golden Krust now has over 100 locations in nine states, including New Jersey, Connecticut, Pennsylvania, Georgia, Florida, New York, Maryland, North Carolina, and Massachusetts.

Golden Krust Franchise Model

Cost Or FeesAmount
Franchise fee$40,000
Royalty fee3%
IndustryBakery and restaurant
Area RequirementN/A
Total Outlets100

Golden Krust Mission

  • Communities can be proud of their corporate citizenship.
  • Customers with excellent customer service and predictable outcomes at every touchpoint
  • Employees who work in a gratifying, enjoyable, and aspirational atmosphere
  • Customers who want real, excellent Jamaican patties and relevant Caribbean cuisine in practical sizes and locations
  • Stakeholders who get a better return on their money
  • Golden Krust has been a franchising company since 1996, with 110 locations in eight states.

Why Choose Golden Krust?

  • Participation in local philanthropic groups and pride in our community
  • Distinctive Caribbean cuisine is prepared with fresh, high-quality ingredients at a reasonable price.
  • Our dedication to quality, customers, the environment, and our employees.

Golden Krust Business Opportunity

The children of the founders formed the Mavis and Ephraim Hawthorne Foundation in 2005.

To improve the community, the foundation awards fellowships and sponsors welfare care and wellness initiatives and activities.

Since its beginning in 1989, Golden Krust has contributed to a variety of organizations and charities across the United States and the Caribbean islands.

Failure Rate Of Golden Krust

Franchised Outlets:

YearOutlets at the Start of the YearOutlets at the End of the YearNet Change

For the Franchised outlets:

  • In 2016, the growth rate was (6)/106×100≈5.66%
  • In 2017, the growth rate was (4)/112×100≈3.57%
  • In 2018, the failure rate was (6)/116×100≈5.17%

Company-Owned Outlets:

YearOutlets at the Start of the YearOutlets at the End of the YearNet Change

For the Company-Owned outlets:

  • In 2016, the growth rate was (1)/6×100≈16.6%
  • In 2017, the failure rate was (1)/7×100≈14.28%
  • In 2018, the failure rate was (0)/6×100≈0.00%

Total Outlets:

YearOutlets at the Start of the YearOutlets at the End of the YearNet Change

For Total outlets:

  • In 2016, the growth rate was (7)/112×100≈6.25%
  • In 2017, the failure rate was (3)/119×100≈2.52%
  • In 2018, the failure rate was (8)/122×100≈6.55%

According to the above-mentioned data, we can see that the franchised outlets for Golden Krust grew from 2016 to 2017 , showing a growth rate between 5.66% and 3.57%. Later in 2018, the franchise started delcining and showing a failure rate rate of 5.17.

On the other hand, for company-owned outlets, the failure rate of Golden Krust was quite high, lying in the range between 14.28% and 0.00% for the same period of time. The company started with a growth rate of 16.6%.

Overall, when we combine the data of franchise and company-owned outlets, we can see that the Golden Krust franchise has expanded only in the initial year so 2016, showing a growth rate of 6.25%. Later, in the years 2017-2018 showing a total failure rate between 2.52% and 6.55%.

Golden Krust Training & Support

  • Field service training
  • As needed, assistance with site selection, development, and construction.
  • Support for operations
  • Operation, training, design, and construction manuals

For those looking to open a franchise in the restaurant industry, possibilities include Mission BBQ Franchise, Auntie Anne’s, Buffalo Wild Wings Franchise, El Pollo Loco, and Wahlburgers Franchise.

Golden Krust Franchise Comparison

CompanyGolden KrustCinnabon
Founded In19891985
Initial Investment$225,900-$687,000$23,100-$430,900
Total Outlet1001,100
Annual Revenue$2.6 Million$143 million 

Frequently Asked Questions

What is Krust patty?

Golden Krust spiced beef patties are a delicious lunchtime, after-school, or late snack option.

A delectable, spicy beef filling is encased in 20 flaky layers of golden dough before being separately encased for freshness.

Who is the CEO of Golden Krust?

Al Novas

Is Golden Krust Balck owned?

Golden Krust is a black-owned and immigrant-founded business.

Is Golden Krust a franchise?

Yes, Gloden Krust is a Caribbean-style restaurant that offers franchise opportunities.

How much does a Gloden Krust Franchise Cost?

To buy a Gloden Krust franchise, you’ll require an investment of $225,900-$687,000 and $40,000 as an initial franchise fee.

Where is Golden Krust headquartered?

Golden Krust is headquartered in New York, USA.

How many locations does Golden Krust has?

Golden Krust currently operates 125 restaurants in North America.

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