READY FOR YOUR DAY IN THE SUN?
Now you’re ready to learn about living the life and owning a Squid Lips restaurant. So let’s talk specifics.
Total Investment: The average Squid Lips costs between $458,067 to $1,419,000 to open a Coastal location or $661,467 to $2,420,000 to open an Overwater location. This includes the franchise fee as well as the restaurant furnishings and equipment, location build out, interior décor items, inventory, point of sale system, grand opening marketing, three month’s rent, permits and working capital to open your business.
Financial Requirements: Though we’re all about fun and great food, at Squid Lips we’re serious about your success. We know that if you don’t do well, we don’t do well. Which is why we ensure that prospective franchisees meet or exceed some minimum financial requirements for opening a location. Each franchise is required to have a minimum of $250,000 in liquid assets per location and a minimum net worth of $750,000 per location.
Targeted Location: Location, location, location. One of the most important decisions you’ll make in opening your Squid Lips will be in selecting the right spot for your new venture. Squid Lips offers two different models.
Squid Lips Overwater Similar to our Melbourne restaurant, this is a larger restaurant with an entertainment area for bands as well as more indoor and outdoor seating. Typically located in a waterfront location, these venues afford boaters the opportunity to pull right up to the Squid Lips beach area or dock. Here’s what to look for in an Overwater location:
Site Criteria Size 8,000–12,000 SF preferably a free standing pad that is ocean front, river front, lakefront, on the intercoastal waterway or at a marina Parking 10 cars per 1000 SF or 100 cars exclusive to Squid Lips Patio 1,000 – 2,000 SF exclusive patio Beach Area Waterside beach area for outdoor dining, volleyball, bands and other activities Access Pair of front entry doors, patio exit doors and delivery door Signage Building sign plus monument or pylon
Demographic Criteria Population Two mile 40,000 residential population plus 20,000 daytime population, with at least 70% between the ages of 35 to 65 Median Household Income Minimum $35,000
Squid Lips Coastal Bar & Grill Similar to our Sebastian Inlet venue, this is a smaller restaurant with indoor and outdoor seating and can be located either waterfront or inland. Here’s what to look for in a Coastal location:
Site Criteria Size 5,000–6,000 SF preferably an endcap unique or a free standing pad Parking 10 cars per 1000 SF for 50 cars exclusive to Squid Lips Patio 500 SF minimum of exclusive patio Access Pair of front entry doors, patio exit doors and rear delivery door Signage Building sign plus monument or pylon
Demographic Criteria Population Two mile 40,000 residential population plus 20,000 daytime population, with at least 70% between the ages of 35 to 65 Median Household Income Minimum $35,000 Traffic Minimum 20,000 Average Daily Traffic with a direct view to location