Lazy Lobster franchise
2024 filing · March 19, 2024
Lazy Lobster at a glance
A seasonal outdoor biergarten serving lobster rolls, tacos, craft beer and cocktails. At the end of 2023 there were 2 Lazy Lobster locations in the US, all company-owned.
The business
- Franchisor
- Lazy Lobster Franchising LLC
- The company that sells the franchises
- Franchisor based in
- Sea Bright, New Jersey
- Typical size
- About 1,200 sq ft
What you pay
- Cost to open
- $309K–$719K
- A seasonal biergarten
- Franchise fee
- $35,000
- For a biergarten; a brick-and-mortar restaurant is $25,000
- Royalty
- 5%
- 5% of gross revenue, paid monthly, with a minimum of $750 a month for the first six months and $1,000 a month after that, plus 1% to the brand fund
- Brand fund
- 1%
- 1% of gross revenue, paid with the royalty; it can rise to 2%
- Renewal fee
- $10,000
- When the agreement ends and you sign again
- Franchisor financing
- None offered
Where it is
- US locations, 2023
- 2
- Franchised and company-owned
- Franchised
- 0
- Company-owned
- 2
- Change in 3 years
- 0
- Franchised locations, 2021–2023
- States
- 1
- Most in New York
From Lazy Lobster Franchising LLC’s 2024 filing; SBA status from the SBA Franchise Directory, October 28, 2026.
Where it ranks
Lazy Lobster among all franchises with the same figure.
| Figure | Lazy Lobster | Among all franchises |
|---|---|---|
| Cost to open, midpointHalfway between the low and high estimate | $513,500 | Costs more than 65% of franchises |
| Franchise feePaid once, when you sign | $35,000 | Lower than 61% of franchises |
| RoyaltyShare of sales paid to the franchisor | 5% | Lower than 69% of brands with a set rate |
| US locationsFranchised and company-owned | 2 | Fewer than 82% of franchises |
How much a Lazy Lobster franchise costs
Opening a seasonal biergarten costs an estimated $308,500 to $718,500. That covers the franchise fee and everything else needed to open, through the first months of working capital.
The biggest costs are construction of leasehold improvements ($50,000 to $250,000) and equipment, furniture, fixtures, and office set up ($100,000 to $155,000). Here is every line of the estimate as filed:
| What it pays for | Range | Low | High |
|---|---|---|---|
| Initial Franchise Fee | $35,000 | ||
| Travel and Living Expenses While Training | $500 | $3,000 | |
| Rent (1 Month) | $3,000 | ||
| Lease, Utility, & Security Deposits (3 months) | $8,500 | $20,500 | |
| Equipment, Furniture, Fixtures, and Office Set Up | $100,000 | $155,000 | |
| Construction of Leasehold Improvements | $50,000 | $250,000 | |
| Inventory, Supplies, and uniforms | $20,500 | $31,000 | |
| Business Licenses and Permits | $1,000 | $6,000 | |
| Grand Opening | $2,500 | $5,000 | |
| Computer, POS System, Internet, Phone, Security | $2,000 | $15,000 | |
| Insurance (3 months) | $1,000 | $3,000 | |
| Architectural/Engineering | $3,000 | $10,000 | |
| Signage | $2,500 | $15,000 | |
| Accountant and Attorney Fees | $4,000 | $10,000 | |
| Additional Funds (3 Months) | $75,000 | $150,000 | |
| Total | $308,500 | $718,500 | |
Source: Lazy Lobster Franchising LLC, 2024 filing, page 16
Lazy Lobster franchise fee
The franchise fee is $35,000, for a biergarten; a brick-and-mortar restaurant is $25,000. You pay it when you sign the franchise agreement.
Source: Lazy Lobster Franchising LLC, 2024 filing, page 10
Royalty and ongoing fees
| Royalty | 5% of gross revenue, paid monthly, with a minimum of $750 a month for the first six months and $1,000 a month after that, plus 1% to the brand fund. |
|---|---|
| Brand or marketing fund | 1% of gross revenue, paid with the royalty; it can rise to 2%. |
| Technology Fee | $200 per month |
| Transfer Fee | $10,000 |
| Renewal Fee | $10,000 |
| Local Marketing Requirement | 1% of Gross Revenue |
The typical franchise royalty is 6% of sales, plus 2% for marketing. See franchise fees and royalties to compare.
Source: Lazy Lobster Franchising LLC, 2024 filing, page 12
Other fees as filed, from pages 12–13. The filing lists every fee, including late fees and audit costs.
Sales and earnings
No figures Lazy Lobster does not share sales or profit figures for its locations. Talking to current and former franchise owners is the usual way to learn what a location earns.
Source: Lazy Lobster Franchising LLC, 2024 filing, page 45
- Estimate Estimated yearly sales per location
- $830K–$1.5M
Estimated from the sales that 292 comparable franchises file, matched on industry, format, cost to open, fees and size.
How Lazy Lobster compares
Of the 813 restaurant franchises on this site, Lazy Lobster is the 264th cheapest to open and the 655th largest by number of locations.
| Figure | Lazy Lobster | Typical restaurant brand | Typical franchise |
|---|---|---|---|
| Cost to open, low end | $309K | $408K | $222K |
| Cost to open, high end | $719K | $866K | $477K |
| Franchise fee | $35K | $35K | $40K |
| Royalty | 5% | 5% | 6% |
| Brand fund | 1% | 2% | 2% |
| US locations | 2 | 14 | 21 |
| Shares earnings figures | No | 474 of 813 | 2,147 of 3,352 |
Typical is the median across the 813 brands in restaurant franchises; typical franchise, across every brand here.
Locations opened and closed
| Year | Franchised | Company-owned | Opened | Closed |
|---|---|---|---|---|
| 2021 | 0 (0) | 1 | 0 | 0 |
| 2022 | 0 (0) | 2 | 0 | 0 |
| 2023 | 0 (0) | 2 | 0 | 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: franchise failure rates.
Source: Lazy Lobster Franchising LLC, 2024 filing, page 45
Where Lazy Lobster locations are
At the end of 2023, Lazy Lobster had locations in 1 state. The most are in New York.
- New York2
| State | Franchised | Company-owned | Total |
|---|---|---|---|
| New York | 0 | 2 | 2 |
Source: Lazy Lobster Franchising LLC, 2024 filing, page 46
Who owns Lazy Lobster?
Lazy Lobster franchises are sold by Lazy Lobster Franchising LLC.
From Lazy Lobster Franchising LLC’s 2024 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: Lazy Lobster Franchising LLC, 2024 filing, litigation on page 10, bankruptcy on page 10
Lazy Lobster filings
The figures on this page come from Lazy Lobster Franchising LLC’s 2024 filing, issued March 19, 2024, on record with the NASAA Electronic Filing Depository.
| Filing | Issued | Registry | On this page |
|---|---|---|---|
| 2024 filing | March 19, 2024 | NASAA depository | Costs, fees and locations, 2021–2023 |
Each link opens the filing as a PDF. See the newest filings across all brands.
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