The Melting Pot fondue restaurant announced that it is seeking qualified restaurant operators to re-open restaurants in Memphis and Chattanooga.
To fuel development, interested candidates can take advantage of The Melting Pot’s new “Path to Grow” program, which provides financing to those who sign a franchise agreement to purchase an existing Melting Pot location in select markets across the country, including Chattanooga and Memphis, it was stated.
Officials said, "Through the 'Path to Grow' program, approved restaurant operators can inject as little as five percent liquidity into the purchase of the restaurant to partner with the franchisor, who would provide the financing.
In exchange, the franchisor would initially assume 51 percent ownership of the restaurant under the conditions that the operating franchisee agrees to pay back the initial loan within three years of signing the franchise agreement. The franchisee would initially have 49 percent ownership of the restaurant and once the loan is paid in full, the franchisor would surrender its ownership interest allowing the operating franchisee to be the sole owner of the restaurant."
Mike Lester, president of The Melting Pot, said, “We’re excited to bring our interactive dining experience back to Memphis and Chattanooga. The beauty of the 'Path to Grow' program is that our potential operating franchise partners do not have to worry about the hassle of having to go through the bank in order to get the financing they need to start a business.
“Our new financing program combined with our reduced franchise fee offer is giving entrepreneurs with restaurant operations background the ultimate turnkey business opportunity so that they can hit the ground running. This opportunity is ideal for experienced restaurant operators who are ready to make the transition to business ownership but do not have the cash on hand needed to open their own Melting Pot from the ground up.”
Currently, The Melting Pot has three Tennessee restaurants located in Gatlinburg, Knoxville and Nashville.
The Melting Pot plans to expand its footprint in select markets throughout the U.S. and overseas. Domestically, the company is targeting growth markets, including Anchorage, Alaska; Dallas, Texas; Hartford, Conn.; and Los Angeles, as well as Memphis and Chattanooga, Tenn. On the international front, The Melting Pot is focusing its expansion efforts in target cities throughout Brazil, Canada, India, Japan and South Korea as well as in Hong Kong. During the first half of 2015, the company plans to open its first restaurants in Jakarta, Indonesia; Dubai, United Arab Emirates and Riyadh, Saudi Arabia.