Cousins Maine Lobster Franchise FDD, Costs & Fees (2024)

KEY FRANCHISE STATS

All you need to know about this franchise in a snapshot

Initial franchise fee
$40,000
Investment required
$224,000 - $898,000
Royalty fee
6.00%

Cousins Maine Lobster: A Trailblazer in Gourmet Seafood

Cousins Maine Lobster, a distinguished franchise renowned for its exceptional seafood offerings, has quickly established itself as a beloved name in the culinary world. Launched in 2012 by cousins Sabin Lomac and Jim Tselikis, this franchise was inspired by their shared passion for bringing the authentic flavor of Maine's famous lobster to a wider audience.

Based in West Hollywood, California, Cousins Maine Lobster has rapidly grown its presence and reputation, symbolizing excellence and innovation in the seafood industry. Since beginning its franchising efforts in 2013, the franchise has offered a distinctive and delectable menu, featuring items like lobster rolls, lobster bisque, lobster tacos, and other lobster-inspired dishes.

What distinguishes Cousins Maine Lobster from its competitors is its steadfast commitment to sourcing the highest quality and freshest lobster from Maine's cold waters, ensuring every dish represents the true essence of New England's culinary traditions. This focus on quality and authenticity has garnered a loyal following and positioned Cousins Maine Lobster as a leader in the gourmet food truck and restaurant franchise sector.

Initial investment

Here's what you would need to invest if you were to start this franchise. These costs are provided by the franchisor in the Franchise Disclosure Document.

Type of Expenditure Amount
Initial Franchise Fee $40,000
Application Fee $1,000 - $5,000
Deposit Account $20,000
Leasehold Improvements $90,000 - $350,000
Rent and Security Deposit $3,000 - $36,000
Utility Deposits $0 - $5,000
Furniture, Fixtures & Equipment $5,000 - $150,000
Initial Inventory (Startup Package) $30,000 - $80,000
Signage $4,750 - $27,500
Insurance $1,000 - $5,000
Office Equipment & Supplies $250 - $5,000
Computer Equipment (Hardware, Software, POS System, etc.) $7,950 - $23,400
Travel and Living Expenses for Training $3,000 - $6,000
Licenses & Permits $2,000 - $15,000
Legal & Accounting $3,500 - $12,500
General Contractor $750 - $40,000
Grand Opening Advertising $1,000 - $2,500
Additional Funds – three months $50,000 - $75,000
Total estimated initial investment: $224,450 - $897,900

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Number of units

2023
Franchised units

7

5

7

Company-owned units

1

1

0

Total units

8

6

7

Franchise Disclosure Document

Training 

Cousins Maine Lobster offers an extensive training program for franchisees, designed to provide them with the essential skills and knowledge for running their franchise effectively. The training encompasses several key components:

Initial Training Program The initial training program is offered at no cost and covers a broad range of topics crucial for franchise operation. This includes an introduction to the Cousins Maine Lobster system, customer service, operational management, financial management, use of computer software (including the Cousins Maine Lobster Mobile App), advertising, marketing, and reporting procedures.

The training lasts between 7 to 10 days, depending on the franchisee's prior experience, and is currently conducted at Cousins Maine Lobster's locations in Los Angeles, California, and Portland, Maine, though this may change in the future.

Training Schedule and Focus Training sessions are scheduled before the opening of the franchised business rather than on a regular basis. Special sessions, such as Maine Product Education, are held either before opening or within six months afterward, depending on the season. The franchisee and their Designated Manager are required to attend and successfully complete various training courses at times and locations designated by Cousins Maine Lobster.

Additional Training and Assistance Cousins Maine Lobster may offer on-site assistance during the initial operations upon the franchisee's request. Additional training is available if requested or if performance does not meet system standards, at a rate of $500 per day plus travel expenses. Periodic refresher courses and other training opportunities may also be offered to franchisees, their managers, and experienced employees to support their ongoing development and ensure adherence to brand standards.

Territory Protection

Cousins Maine Lobster grants franchisees a designated Territory, typically defined by either a population of 50,000 people or a 5-mile radius, whichever is smaller. This Territory includes proximity protection for the duration of the initial franchise term, ensuring no other franchisees can operate within this specified area.

However, Cousins Subs and its affiliates reserve the right to establish other businesses within the Territory, which may include additional Cousins Subs locations or different brands. Franchisees are restricted to operating within their designated Territory but may conduct time-limited pop-up events outside of it with permission from Cousins Subs.

While franchisees have certain territorial rights, they do not have exclusivity. Cousins Subs retains considerable flexibility in managing its brand presence both within and beyond franchisee Territories. This approach is designed to balance the interests of franchisees with the franchisor's need for expansion and operational flexibility.

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