Requirements for Ciao Mambo™
Space Requirements – Ciao Mambo™ locations require 4,000-4,500 sq ft of space with approximately 40% dedicated to the exposition style of kitchen that each Ciao Mambo™ location requires. You should be after a location that will afford you up to 100 indoor seats and potential outdoor seats as well.
Leases – You will be required to negotiate and obtain your own lease. You should consider no less than an initial 5 year period, with multiple renewal options. However, note that you will be better off with an initial 10 year lease with renewal options. Additionally, spending more than 6-8% of your annual revenue target generally falls outside of our guidelines. Leases depend, of course, on local markets conditions and other relevant demographics.
Market Characteristics – Ciao Mambo™ locations can operate in a variety of markets. We were founded in the resort town of Whitefish, Montana. As long as there is a strong middle class, a demand for casual and fun dining, and a reasonable population density that is strong with children, then you can be confident the Ciao Mambo™ concept can compete with the dining options your patrons will have.
Net Worth – In order to be considered as a candidate for a Ciao Mambo™ restaurant you and/or your partnership must be able to demonstrate a net worth of at least $1,400,000 with at least $250,000 liquid capital to invest. Your operating cash reserves and overall debt service are very important to ensure the success of each location. It is a combination of net worth along with desire, experience and willingness to succeed that determines whether you qualify.
Experience – We want restaurant experience. We want experienced franchisees as well. You should also have experience at having fun. Whether you have worked in a restaurant, or if you have owned 1,000 restaurants as a franchisee in the past, it is all important. Again, our approach is to look at the candidate as a whole. We have found that most interested candidates know at some level prior to discussions, the food and beverage industry.