Kelly's Roast Beef franchise
2023 filing · November 29, 2023GrowingShares sales figures
Kelly's Roast Beef at a glance
A Boston-area roast beef sandwich shop that also serves fried seafood, lobster rolls and pizza. At the end of 2022 there were 6 Kelly's Roast Beef locations in the US, 2 franchised and 4 company-owned, so most are run by the company itself.
The business
- Franchisor
- Kelly's Roast Beef Franchising LLC
- The company that sells the franchises
- Current franchisor selling since
- 2020
- 3 years of selling franchises
- Typical size
- 3,000–4,500 sq ft
What you pay
- Cost to open
- $1.17M–$2.09M
- Fee, build-out and opening working capital
- Franchise fee
- $40,000
- $20,000 for each restaurant developed under a development agreement
- Royalty
- 5%
- 5% of gross sales each fiscal period
- Brand fund
- 1%
- 1% of gross sales, paid with the royalty
- Renewal fee
- $20,000
- When the agreement ends and you sign again
- Agreement length
- 20 years
- Territory
- Limited
- Limited protection
- Franchisor financing
- None offered
Where it is
- US locations, 2022
- 6
- Franchised and company-owned
- Franchised
- 2
- Company-owned
- 4
- Change in 3 years
- +2
- Franchised locations, 2020–2022
- States
- 3
- Most in Massachusetts, Florida and New Hampshire
From Kelly's Roast Beef Franchising LLC’s 2023 filing; SBA status from the SBA Franchise Directory, October 28, 2026.
Where it ranks
Kelly's Roast Beef among all franchises with the same figure.
| Figure | Kelly's Roast Beef | Among all franchises |
|---|---|---|
| Cost to open, midpointHalfway between the low and high estimate | $1,632,500 | Costs more than 90% of franchises |
| Franchise feePaid once, when you sign | $40,000 | Lower than 46% of franchises |
| RoyaltyShare of sales paid to the franchisor | 5% | Lower than 69% of brands with a set rate |
| US locationsFranchised and company-owned | 6 | Fewer than 69% of franchises |
How much a Kelly's Roast Beef franchise costs
Opening one Kelly's Roast Beef costs an estimated $1,172,500 to $2,092,500. That covers the franchise fee and everything else needed to open, through the first months of working capital.
The biggest costs are construction/leasehold improvements ($500,000 to $850,000) and furnishing, fixtures, equipment ($400,000 to $750,000). Here is every line of the estimate as filed:
| What it pays for | Range | Low | High |
|---|---|---|---|
| Initial Franchise Fee | $20,000 | $40,000 | |
| Development Fee | $20,000 | ||
| Grand Opening Advertising | $10,000 | $20,000 | |
| Real Estate | $12,500 | $37,500 | |
| Construction/Leasehold Improvements | $500,000 | $850,000 | |
| Travel and Living Expenses While Training | $50,000 | $80,000 | |
| Furnishing, Fixtures, Equipment | $400,000 | $750,000 | |
| Signage | $40,000 | $80,000 | |
| Initial Inventory | $15,000 | $30,000 | |
| Miscellaneous Opening Costs | $10,000 | $30,000 | |
| Register or Point of Sale System | $35,000 | ||
| Additional Funds -- 3 \Months | $60,000 | $140,000 | |
| Total | $1,172,500 | $2,092,500 | |
Source: Kelly's Roast Beef Franchising LLC, 2023 filing, page 15
Kelly's Roast Beef franchise fee
The franchise fee is $40,000, $20,000 for each restaurant developed under a development agreement. You pay it when you sign the franchise agreement.
Source: Kelly's Roast Beef Franchising LLC, 2023 filing, page 10
Royalty and ongoing fees
| Royalty | 5% of gross sales each fiscal period. |
|---|---|
| Brand or marketing fund | 1% of gross sales, paid with the royalty. |
| Transfer Fee – Franchise Agreement | $5,000 |
| Renewal Fee | $20,000 |
| Refresher Training | $500 per day |
The typical franchise royalty is 6% of sales, plus 2% for marketing. See franchise fees and royalties to compare.
Source: Kelly's Roast Beef Franchising LLC, 2023 filing, pages 10 and 11
Other fees as filed, from pages 11–14. The filing lists every fee, including late fees and audit costs.
Sales and earnings
Shares figures Kelly's Roast Beef publishes sales or earnings figures for its locations. The full tables, with notes on which locations are counted, are in its filing.
Source: Kelly's Roast Beef Franchising LLC, 2023 filing, page 47
- Estimate Estimated yearly sales per location
- $1M–$1.9M
Estimated from the sales that 292 comparable franchises file, matched on industry, format, cost to open, fees and size.
How Kelly's Roast Beef compares
Of the 80 sandwich franchises on this site, Kelly's Roast Beef is the 78th cheapest to open and the 52nd largest by number of locations.
| Figure | Kelly's Roast Beef | Typical sandwich brand | Typical franchise |
|---|---|---|---|
| Cost to open, low end | $1.17M | $321K | $222K |
| Cost to open, high end | $2.09M | $683K | $477K |
| Franchise fee | $40K | $32K | $40K |
| Royalty | 5% | 6% | 6% |
| Brand fund | 1% | 2% | 2% |
| US locations | 6 | 31 | 21 |
| Shares earnings figures | Yes | 50 of 80 | 2,147 of 3,352 |
Typical is the median across the 80 brands in sandwich franchises; typical franchise, across every brand here.
Locations opened and closed
| Year | Franchised | Company-owned | Opened | Closed |
|---|---|---|---|---|
| 2020 | 0 (0) | 4 | 0 | 0 |
| 2021 | 0 (0) | 4 | 0 | 0 |
| 2022 | 2 (+2) | 4 | +2 | 0 |
Closed or left counts terminations, non-renewals, locations bought back by the franchisor and locations that stopped operating.
See which brands grew most in the fastest-growing franchises rankings.
More in the guides: sandwich and sub franchise costs and franchise failure rates.
Source: Kelly's Roast Beef Franchising LLC, 2023 filing, page 49
Where Kelly's Roast Beef locations are
At the end of 2022, Kelly's Roast Beef had locations in 3 states. The most are in Massachusetts, Florida and New Hampshire.
- Massachusetts4
- Florida1
- New Hampshire1
| State | Franchised | Company-owned | Total |
|---|---|---|---|
| Massachusetts | 0 | 4 | 4 |
| Florida | 1 | 0 | 1 |
| New Hampshire | 1 | 0 | 1 |
Source: Kelly's Roast Beef Franchising LLC, 2023 filing, page 49
Who owns Kelly's Roast Beef?
Kelly's Roast Beef franchises are sold by Kelly's Roast Beef Franchising LLC.
From Kelly's Roast Beef Franchising LLC’s 2023 filing.
Lawsuits and bankruptcy
| Lawsuits and regulatory actions | None. The filing says no litigation has to be disclosed. |
|---|---|
| Bankruptcy | None. The filing says no bankruptcy has to be disclosed. |
Franchisors must disclose lawsuits and bankruptcies involving the company, its parents and affiliates, and its executives. Many cases are routine disputes with franchisees over fees or contracts; read the descriptions in the filing and ask current owners about anything that worries you.
Source: Kelly's Roast Beef Franchising LLC, 2023 filing, litigation on page 9, bankruptcy on page 9
Kelly's Roast Beef filings
The figures on this page come from Kelly's Roast Beef Franchising LLC’s 2023 filing, issued November 29, 2023, on record with the NASAA Electronic Filing Depository.
| Filing | Issued | Registry | On this page |
|---|---|---|---|
| 2023 filing | November 29, 2023 | NASAA depository | Costs, fees and locations, 2020–2022 |
Each link opens the filing as a PDF. See the newest filings across all brands.
Other sandwich franchises
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Kelly's Roast Beef is also on these lists: fast food franchises, restaurant franchises, food franchises.