About The Greene Turtle Franchise
The Greene Turtle is a casual dining and sports bar franchise known for its lively atmosphere, extensive craft beer selection, and a menu of American grill favorites.
The brand has been franchising since 2003 under Green Turtle Acquisition, LLC, and has built a strong regional following as a go to destination for watching sports, enjoying a meal with friends, and experiencing a welcoming neighborhood bar atmosphere.
The franchise fee is $45,000.
The Greene Turtle Franchise Cost & Fees
Minimum Investment
$1.5M
Average Investment
$2.1M
Maximum Investment
$2.7M
| Fee Type | Amount | Notes |
|---|---|---|
| Initial Franchise Fee | $45,000 | One-time payment upon signing |
| Royalty Fee | 4% of Adjusted Gross Sales of gross sales | Ongoing; paid monthly |
| Marketing/Ad Fund | Up to 2½% of Adjusted Gross Sales | National brand fund |
| Total Investment Range | $1,455,000 – $2,702,500 | Includes build-out, inventory, working capital |
The investment range of $1.5M–$2.7M reflects variability in build-out costs, store size, lease terms, and market. The combined royalty (4% of Adjusted Gross Sales) and marketing fee (Up to 2½% of Adjusted Gross Sales) are ongoing costs paid as a percentage of gross sales.
Investment Breakdown (Item 7)
| Item | Low | High |
|---|---|---|
| Initial Franchise Fee | $45,000 | $45,000 |
| Real Estate Leasing | $20,000 | $25,000 |
| Leasehold Improvements | $850,000 | $1,900,000 |
| Furniture, Fixtures, Fixed Assets, Smallwares and Equipment (including POS and audio visual) | $400,000 | $450,000 |
| Opening Inventory and Supplies | $30,000 | $35,000 |
| Grand Opening Advertising | $20,000 | $20,000 |
| Insurance | $12,000 | $20,000 |
| Training | $5,000 | $51,000 |
| Office Equipment and Supplies | $10,000 | $15,000 |
| Liquor Licenses | $2,000 | $60,000 |
| Security Deposits | $1,000 | $1,500 |
| Additional Funds (three months) | $60,000 | $80,000 |
Additional Fees (Item 6)
| Fee Type | Amount |
|---|---|
| Transfer Fee | 30% of then-current initial franchise fee if no change in control; 50% of then-current initial franchise fee if change in control. No fee if transfer is for less than 10% interest in franchisee. |
| Audit Fee | All costs and expenses associated with the audit, reasonable accounting and legal costs. |
| Interest on Overdue Amounts | 1.5% per month on the underpayment |
| Costs and Attorneys’ Fees | Will vary under circumstances |
| Canceled Check | $100 |
| Supplier Testing | Will vary |
| Indemnity | Will vary under circumstances |
| Non-compliance Fee | $1,000 for second violation in 12-month period; $2,000 for third and $4,000 for each violation thereafter |
| On-Site Evaluation | Will vary under circumstances |
| Additional training | Our per-diem charges, plus our out-of-pocket costs ($250 per trainer per day) |
Training Program (Item 11)
| Detail | Information |
|---|---|
| Total Duration | Manager Training: 7 weeks; Franchise Owner Training: 1 week |
| Classroom Training | Manager Training: 64 hours; Franchise Owner Training: 31.5 hours |
| On-the-Job Training | Manager Training: 288 hours; Franchise Owner Training: 22.5 hours |
| Training Location | Certified Training Restaurant (Columbia, Maryland; East Meadow, New York; and Christiana, Delaware) and Our Corporate Office |
| Additional Training | We may require that any or all of the Highly Trained Personnel attend refresher courses, seminars, and other training programs periodically. Additional on-site training, if requested and provided, will incur per-diem charges ($250 per trainer per day) plus out-of-pocket costs. |
Territory Rights (Item 12)
| Detail | Information |
|---|---|
| Territory Type | Protected |
| Exclusive Territory | Yes |
| Territory Size | between 35,000 and 50,000 surrounding the Accepted Location (as determined by the most recent U.S. Census) |
| Description | You will be granted a protected territory in which you will have the exclusive right to own and operate your The Greene Turtle Restaurant. The Territory will be based on the population of persons residing within the region surrounding the Restaurant, typically between 35,000 and 50,000. However, the franchisor retains rights to establish or license restaurants outside the territory, at institutional facilities within or outside the territory, and other restaurant concepts under different marks, even if they impact sales. The franchisor can also sell and distribute products through alternative channels (e.g., internet) outside a restaurant operated within the territory. |
Renewal, Termination & Transfer (Item 17)
| Detail | Information |
|---|---|
| Initial Term | 10 years |
| Renewal Term | Two additional 5-year terms |
| Renewal Conditions | Franchisee must provide written notice, have the right to possession of premises, remodel/refurbish to current standards, not be in default of any agreement, satisfy all monetary obligations, execute franchisor's then-current franchise agreement (which may have different terms, fees, and territory), and execute a general release. |
| Transfer Fee | 30% of then-current initial franchise fee if no change in control; 50% of then-current initial franchise fee if change in control. No fee if transfer is for less than 10% interest in franchisee. |
| Transfer Conditions | Transferor must execute a general release, transferee must be designated as a Principal and agree to be bound by the agreement, new Principals must meet franchisor's educational, managerial, business, moral character, credit rating, and financial standards. If a change in control, the Restaurant may need to be upgraded to current standards, and a new franchise agreement may be required. |
| Termination for Cause | Automatic termination for insolvency or bankruptcy. Termination upon notice without opportunity to cure for failure to open on time, abandonment, felony conviction, public health/safety threat, unauthorized transfer, disclosure of confidential information, false books/records, three or more defaults in 52 weeks, inaccurate sales reporting, unapproved products/suppliers, fraudulent conduct, or improper use of Proprietary Marks. Other defaults allow for a 30-day cure period. |
| Non-Compete Period | During the term of the franchise and for two (2) years after termination or expiration. |
| Non-Compete Details | Prohibition on engaging in any restaurant or sports bar business which is the same as or similar to The Greene Turtle Restaurant within 15 miles of the Accepted Location, any other Restaurant operating under the System, or the Development Area (if applicable). |
Operations & Supply (Items 8 & 15)
| Detail | Information |
|---|---|
| Owner-Operator Required | No |
| Participation Details | The Franchise Agreement does not require you to participate personally in the direct operation of the Restaurant, although active participation is encouraged. However, you or your Operating Partner must devote full time, energy, and best efforts to the management of the Restaurant. The Operating Partner must have an ownership interest in the Franchisee and execute a Guarantee, Indemnification and Acknowledgement. |
| Required Suppliers | You must buy all products, ingredients, supplies, materials, and other products used or offered for sale at the Restaurant only from suppliers (including manufacturers, distributors, and other sources) that meet our specifications in the Manual and/or we have approved in writing. |
| Supply Restrictions | We have the right to designate only one supplier for certain items (such as distribution of products, soft drinks, etc.) in order to take advantage of marketplace efficiencies. |
| Franchisor Revenue from Suppliers | During 2020, we derived revenue of $20,857 based on required purchases or leases, representing 0.1% of total revenues. We also received Placement Fees totaling $20,000 in 2020. |
Financing (Item 10)
| Detail | Information |
|---|---|
| Financing Available | No |
| Description | We do not offer direct or indirect financing. We will not guarantee your note, lease, or other obligations. |
The Greene Turtle Franchise Earnings — Item 19
The Greene Turtle does not make an Item 19 financial performance representation in their FDD. This means they do not disclose revenue, profit, or earnings data for franchised locations. Before investing, ask the franchisor directly for franchisee contact information so you can speak with existing owners about their actual financial performance.
The Greene Turtle does not include an Item 19 financial performance representation in their FDD. Contact information for current and former franchisees is listed in Item 20 of the FDD.
The Greene Turtle Litigation & Risk Flags
Clean Litigation RecordThe Greene Turtle has no pending litigation actions listed in their FDD. There is also no bankruptcy history disclosed.
Litigation and bankruptcy data is sourced from Items 3 and 4 of the FDD. Always verify current status directly from the most recent FDD.
The Greene Turtle System Growth
Total Units
35
Franchised
18
Company-Owned
17
The Greene Turtle currently operates 18 franchised locations and 17 company-owned units. Unit count data is sourced from Item 20 of the FDD.
Unit History (Item 20)
| Year | Opened | Closed | Total |
|---|---|---|---|
| 2018 | 2 | 1 | 44 |
| 2019 | 0 | 3 | 41 |
| 2020 | 1 | 13 | 35 |
Transfers: 0 | Closures: 13
State Registrations
Registered in 14 states: CA, NY, HI, ND, IL, RI, IN, SD, MD, VA, MI, WA, MN, WI
Franchisor Financials (Item 21)
Revenue
$20.7M
Net Income
$-5,052,124
Total Assets
$20.3M
Audited by CohnReznick LLP for year ending December 31.
The Greene Turtle Franchise — FAQ
The total investment to open a The Greene Turtle franchise ranges from $1,455,000 to $2,702,500, per their Franchise Disclosure Document. This includes the initial franchise fee of $45,000. The investment covers build-out, inventory, equipment, signage, working capital, and other startup costs.
The Greene Turtle charges a royalty fee of 4% of Adjusted Gross Sales of gross sales, plus a Up to 2½% of Adjusted Gross Sales contribution to the marketing/advertising fund. These fees are paid on an ongoing basis.
You can download the The Greene Turtle Franchise Disclosure Document free on this page. The FDD is a public document filed with state franchise registries. Always also request the current FDD directly from The Greene Turtle to ensure you have the most up-to-date version.
The Greene Turtle does not provide an Item 19 financial performance representation in their FDD, which means they do not disclose franchisee revenue or earnings data. Prospective investors should contact existing franchisees directly (listed in Item 20 of the FDD) to gather real-world financial performance information.
The Greene Turtle has been franchising since 2003. The FDD shows an investment range of $1,455,000-$2,702,500, a 4% of Adjusted Gross Sales royalty, and includes an Item 19 earnings disclosure. There is no pending litigation. Review the full FDD and contact current franchisees listed in Item 20 before making any investment decision.
The franchise fee is $45,000 and the total investment ranges from $1,455,000 to $2,702,500 depending on location size and market. Contact the franchisor directly for current net worth and liquid capital requirements, territory availability, and application details.
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Data Source & Disclaimer: This website is for informational purposes only. It is not an offer to sell or buy a franchise. This profile is based on publicly available FDD data sourced from state franchise registry filings. All information is for research purposes only and does not constitute legal, financial, or investment advice. Data may be outdated or contain errors. Always obtain the current FDD directly from The Greene Turtle and consult a qualified franchise attorney before making any investment decision. FranchiseOverview.com is operated by Franchising Compliance, LLC and is not affiliated with The Greene Turtle or any of its subsidiaries. To report an inaccuracy: info@franchiseoverview.com