BOSTON (WBZ NewsRadio) — If you've ever wanted to own your very own Kelly's Roast Beef restaurant, now you can.
The company which first opened at Revere Beach in 1951 has announced plans to expand from the North Shore to the rest of Massachusetts with its first ever franchising opportunity.
It's not just traditional restaurants; Kelly's is also considering "express" locations in mall food courts and on local university campuses.
In a press release this week, the company announced its intention to add six franchised restaurants over the next two years. It also has a larger goal of opening 50 locations over the next five years.
(James Rojas WBZ/Twitter)
According to the press release, the initial investment to open your own Kelly's franchise would range from $900,000 to $1.7 million. There would also be a franchise fee of $40,000.
For the first ten franchise agreements signed, there would be a 3 percent royalty during the first year, a 4 percent royalty during the second year, and a 5 percent royalty for the remainder of the term. The restaurant currently reports selling around 20,000 roast beef sandwiches per month.
While Kelly's is a North Shore native company, it now has its sights set on opening the new locations in a different part of town. That could include Natick, Quincy, and as far out as Providence and Worcester.
If you're interested in becoming one of the first Kelly's franchise owners, click here.
WBZ NewsRadio's James Rojas (@JamesRojasWBZ) reports:
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