Nikos Franchise opened the first Nikos Coalgrill Greek store in Durban North in March 2017.
The Nikos Franchise marries contemporary dining with traditional home-style Greek cooking.
The brand is owned by Spur Group (Pty) Ltd in partnership with Peter, Nikki, and Nick Triandafillou, and Pano Economou. Spur Group is a highly successful franchisor of many brands ie. Spur, Panarottis, John Dory’s, RocoMamas, RocoGo, The Hussar Grill and Casa Bella.
Average set-up cost per Nikos for the last two Nikos built is R 4 600 000.00 to R 4 900 000.00 including Vat. This amount varies, dependent on the site size and landlord deal.
Nikos (and the majority of banks) require that the franchisee contribute 60%of their own unencumbered capitalinto the business. The unencumbered capital has to be existing cash reserves and cannot be borrowed against a bond, credit card or any other type of finance.
- All training is in a physical trading Nikos, with certain days at our Nikos regional office.
- Three managers to start training eight weeks prior to store opening, for a training period of seven weeks.
- Franchisee/operating partner to start training nine weeks prior to store opening, for a training period of eight weeks.
- Kitchen staff to train in a Nikos for a period of 6 weeks.
Upfront Fee: R145 000;
Approx Establishment Cost: R4,6 million;
Total Investment: R4,6 million;
Franchisee’s minimum own cash
(before loan): R2,760 million;
MSF: 5%; Adv: 2%; Total: 7%.