As of August 2011 Jack in the box has made $150 million dollars and has opened 6 new restaurants since December 2010. Jack in the Box has also become one of the top fast-food places in the nation, and has only closed a total of 6 restaurants out of the 2,200 they have in the nation. Requirements for Franchising To open a restaurant candidates must have a number of qualifications. Some of these qualifications are franchise and restaurant management experience, a net worth of $1,500,000, the ability to develop at least 5 more restaurants, and a passion for the restaurant industry.
Why it will be successful I believe Jack in the Box can be successful in Bloomington/Normal because there menu offers a variety of foods that other fast food places dont such as churros, egg rolls, tacos, funnel cakes, cheesecakes, etc. There prices could also compete with other restaurants such as steak n shake, and Sonic with a Sirloin Cheeseburger being only $4. 00. There dollar menu also offers more options than McDonalds with them serving 2 tacos, jumbo hamburgers, salads, and egg rolls just to name a few.
Qdoba is also a sister restaurant of Jack in the Box, and has been doing well in twon. Where it would be located I would put the restaurant in the plaza where the Schnucks was recently built or by Moes Southwest grill. I think this location would be best because there arent too many fast food places over there except Wendys. There would just be one in town for now until the company knows for sure that the restaurant is in high demand and is making profit. There could also be opportunities in adding another restaurant in Champaign, IL on University of Illinoiss campus.
This location could lead to a big success for the company because of the thousands of college students that live there and Champaign is also seen as a vacation spot. Risks Some risks with opening a Jack in the Box is that there are already many hamburger restaurants in Bloomington/Normal with McDonalds with a majority of them so adding another would overwhelm people in the community. Opening this restaurant would be a high risk because of the already established fast-food restaurants that are in Bloomington/Normal make up a big majority of the market.