Honey Baked Ham: Franchise Profile
ID : RND_044588 Format : PDF June, 2019 Publisher : Pages : 17
The scope of this franchise profile report is precise and covers the company’s background along with its present performance in the market. The major sections of the profile include: overview, products offered, recent developments and strategies undertaken, challenges faced, business strategy and analysis, and financial information. The report also includes revenue forecasts, presence of franchisee stores, market forecasts and key people of the company.
The report concludes with any other important information about the company and key takeaways.
- An overview of the franchise profile on Honey Baked Ham Company LLC
- Recent developments, key takeaways, business strategy, franchise cost analysis, along with growth forecast by revenue and number of restaurants for the company
- Data corresponding to number of HBH’s Franchisees across states and their calculated market shares
- Tabular form of company offered food items by product category"
Honey Baked Ham Company is a privately-held company founded in 1957. It is headquartered in Alpharetta, Ga., which is a suburb of Atlanta. The company was previously known as The Original Honey Baked Ham Co. of Georgia Inc. but altered its name to The Honey Baked Ham Company LLC in 2015. It is a food retailer which offers hams, turkey breasts and other pre-cooked entrees, side dishes, salads, beverages, desserts and other menu items.
In 1936, Harry J. Hoenselaar, the founder of the company opened the first Honey Baked Store in Detroit, Michigan. At present, it has grown to over 400 company-owned retail stores and 200 franchise locations in 40 states in U.S., and also has a large online presence. It is one of the most popular ham brands in the U.S. with more than 60 years of brand value and consistent quality.
The company started offering franchises for on August 5, 1998 and by Sept. 30, 2018, there were 212 franchised Honey Baked Stores. It is primarily a restaurant which also sells retails items in its stores. The company has four revenue streams: Retail, Gifting, Catering and Lunch. The retail segment includes premium hams, turkeys and roasts, heat-and-serve sides, desserts and signature sauces and dips. The gifting segment includes corporate gift cards and employee recognition options. In the catering segment, the company offers boxed lunches and platters for office events, organization outings, neighborhood block parties and family celebrations. These events include fresh sandwiches, soups and
salads. It is not mentioned that the restaurant is not open for dinner menu but it has a special menu for lunch. The company has a different menu under the Lunch segment which includes ham and turkey sandwiches, salads, sides etc. which comes with pickle."
"Table of Contents
Chapter 1 Honey Baked Ham Company LLC
Honey Baked Ham Overall Performance
Franchised Stores Performance
Growth Forecast: Revenue and Number of Restaurants
Business Strategy and Competition
Franchise Cost Analysis
Franchise Presence by States
List of Stores
Franchisees and Key People
A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.
Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.
Now let’s take a closer look at the research methods here.
Secondary Research Model:
Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.
Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.
However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.
The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.
Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.
The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.
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