How do you roll

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Barbara Corcoran was interested in the set-up costs for new locations, and asked what costs a new franchisee would incur. Mark Cuban inquired what the royalty rate for the satellite businesses was.

Yuen explained that franchise operators were obliged to open a corporate bank account to ensure that all royalties could be correctly calculated. Mark Cuban liked the entrepreneurial brothers, he liked the concept of the How Do You Roll business, and he had loved the food, but he had other objections. With that Mark dropped out of the negotiations. Kevin inquired if the brothers were considering accepting the offer. Yuen admitted that they were not, as they had no intention of losing the controlling stake in the company.

Daymond John had been the most impressed with the quality of the food amongst all the sharks, but he was nowhere near as enthusiastic about joining the Yung family firm. He believed that the highest profit margins in catering came from beverages and desserts, but the profit margin on fish itself was very low. And for that reason Daymond was out. He thought the food had been excellent and believed the business could be a great success, but he admitted that he had no knowledge, or real interest, in catering businesses.

He assured Yuen and Peter that he would happily sample the How Do You Roll experience as a customer, but he had no intention of investing in the company, and with that Robert was out too. She praised both brothers for their achievements so far, but admitted that she had previous experience with food franchise operations, and knew they could be very complicated to run.

Kevin had come to a decision, and it was good news for the brothers. Kevin wanted to take a percentage of the royalties earned from the franchises every month, with the percentage to be determined at a later stage. He stressed his experience in setting up franchises, and in particular his knowledge of the real estate business.

At this stage the brothers took a quick time-out to discuss things outside the tank. When they returned Yuen asked Kevin how he would help them with future franchising opportunities. Kevin admitted that there was no easy answer to that, he asserted that each franchise was an individual negotiation, and until the business had at least 50 franchise locations it was counter productive to appoint a franchise manager to ease the process, and that should be the first aim for the company.