Checkers

NEW YORK

Source: Paramjit Josan

Paramjit Josan owns four Checkers restaurants — in Queens, Brooklyn, New York City and Long Island.

Description: Drive-through, quick-service restaurant

Owner: Paramjit Josan

Years in business: 8

No. of franchises owned: 4

Start-up costs: $30,000 franchise fee; $250,000 cash requirement

Franchisor fees: royalties 4%; marketing 4.5% on gross sales

2015 revenue, 2016 projection: $4.2 million; $4.6 million

2016 projected annual growth rate: 8%

When Paramjit Josan opened his first Checkers fast-food restaurant in 2008, he knew it wouldn't be his last. The Queens, New York, resident found the return on investment for the chain to be highly attractive and knew that it would afford him the opportunity to become a multi-unit franchise owner and truly grow his business.

Additional franchisee resources

Indeed, today Josan owns four Checkers restaurants — in Queens, Brooklyn, New York City and Long Island. He said the parent brand has been helpful every step of the way, from the development of his stores to new product offerings to daily operations support. While expanding his business, Josan said he's been disciplined about site selection, always looking for locations that require minimum investment and affordable rents.

"Obamacare and rising minimum wages are big challenges in the fast-food industry," he said, "so I need to pay close attention to my costs." He recommends that anyone looking to buy a franchise do more than look for a brand name. "Do your homework and find out what the franchisor is doing to help franchisees in the long term," he said.