Do you dream of owning your own business? There are no limits to your potential for success at Golden Corral. Available to General Managers at company restaurants who have been with us for at least one year.
From The CEO...
We are very excited about our unique incentive program developed to reward the hard work and dedication of Golden Corral Corporation's company operated restaurant General Managers. By offering this results-driven incentive plan, your long-term earning potential greatly increases through an enhanced bonus structure.
After your fifth year participating in this program, you may have the opportunity to become the franchisee of your own restaurant.
Your earning potential is in your hands. Golden Corral managers, with the ability to increase sales and manage costs in your restaurant, are rewarded each month with an incentive bonus, which is calculated on a percentage of the cash flow in their restaurant (ROC). Because we hire managers with ambition, talent and desire to excel, it makes sense to reward you with a compensation package that recognizes your performance and results.
The success of each and every Golden Corral Restaurant is a direct result of those individuals who excel at providing our guests with an experience that exceeds their expectations and delivers on our consumer mission of "Making Pleasurable Dining Affordable.®"
How do I participate?
A participant must have been employed by Golden Corral Corporation in the position of General Manager for a term of one year in the company operated restaurant for which he or she will serve as Operating Partner.
Prospective participants must meet expected operating standards, performance reviews and financial results, in addition to being approved by both Senior Vice President and Regional Vice President of Operations.
The Operating Partner will enter into an Operating Partner agreement, and pay a $25,000 refundable security deposit. Should you later become a franchisee, the deposit may be used toward the purchase of a franchise. Golden Corral will help arrange financing to those needing financial assistance for the deposit.
The base salary for the Operating Partner will remain constant. However, the incentive bonuses will be determined at a higher level of Restaurant Operating Cashflow (ROC), called for in the regular General Managers pay plan, as follows,
In years 1 and 2, the Operating Partner’s compensation includes a period bonus equal to 9% up to $46,154 net ROC per period and then 5% greater than $46,154 net ROC per period.
In years 3, 4, and 5, the Operating Partner’s compensation includes a period bonus equal to 10% up to $46,154 net ROC per period and then 5% greater than $46,154 net ROC per period.
After 5 years, the Operating Partner’s period bonus compensation will increase to 11% up to $46,154 net ROC per period and then 5% greater than $46,154 net ROC per period.
During the fourth year as an Operating Partner, Golden Corral will discuss the opportunity for the Operating Partner to purchase Golden Corral's interest in the restaurant and become a franchisee.
Restaurant Operating Cashflow (ROC) is calculated as follows: Sales and Other Income Less Food Cost