Mr Mikes, Lower Mainland, BC
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First location was established on Granville Street in Vancouver in 1960 and now Mr Mikes is creating an entirely new steakhouse category, Steakhouse Casual. Mr Mikes is embarking on revitalizing all the restaurants to create an atmosphere that is relaxed and genuine and updating all décor with warm wood grains, distressed metals and unique artwork. This location has been recently upgraded with over $100,000 worth of renovations, including a large patio with a cozy fire pit. Currently, there are 33 locations in Western Canada, with deposits already placed down on 16 other locations. Franchise fee is $25,000. Sales for year ending June 30, 2014 were $1,399,237 Adjusted cash flow $123,472 General manager is paid $40,000 per year They are expecting a significant increase over 2014 sales. Financing available with GE Capital.