Domestic Franchise Developer Qualification Checklist

1. Financial Capability to Develop, Equip and Operate One or More IHOP Restaurants
   • Net worth: Net worth requirement is based on the total number of IHOP restaurants requested. A minimum of $1,500,000 per restaurant is required for the first 3 restaurants. Thereafter, each additional IHOP location requested will require an additional net worth of $750,000.
   • Liquid assets: Liquidity requirement is based on the total number of IHOP restaurants requested. A minimum of $500,000 per restaurant is required for the first 3 restaurants. Thereafter, each additional IHOP location requested will require an additional net worth of $250,000.
     • Ability to verify availability of liquid assets
       • Bank statements
       • Brokerage account statements
     • Ability to obtain financing of construction of restaurant(s)
       • Conventional bank loan
       • SBA loan
       • Build-to-suit opportunities
   • Loan commitment letters are also acceptable as evidence of financing and ability to provide funds to complete transactions.
2. Operational Capabilities (Ability to Operate an IHOP Restaurant)
   • Restaurant experience or identification of an operator with full-service restaurant experience
   • Management experience
   • Demonstrated leadership skills
   • Business acumen
3. Defined Development Area
   • Specific area identified for development
   • Proposed development area cannot be subject to existing Single or Multi-Restaurant Development Agreements
   • Proposed development area cannot be subject to existing Area Development or Area Franchise Agreements
4. Business Plan
   • Written plan for proposed financing of development
   • Written plan for the management of the proposed franchise entity and restaurants

Domestic Franchise Developer Approval Process

1. Pre-qualification
   • Completion of Request for Consideration form to make sure you meet our basic qualification requirements
   • If you are qualified, IHOP will send you a franchise application for completion
2. Qualification - Submit Franchise Application
   • Application must be completed in its entirety, signed and dated
   • All shareholders, owners, members, investors and operators of the proposed franchise entity must complete an application
   • Application must be submitted with all required documentation including financial statements and verification of funds
   • Resume/brief biography
3. Identify Development Interest
   • Multi-Restaurant Development
   • Single Restaurant Development
4. Complete interview with Director, Franchise Business Development.
5. We will run a complete credit and background check.
6. We provide you with detailed information about the IHOP franchise opportunity via our Franchise Disclosure Document (FDD). You must sign, date and return the receipt of the FDD.
7. You will submit a detailed business plan to IHOP for review.
8. You will complete interviews with the Regional Director and/or Division Vice President of Operations to discuss your operational and business experience.
9. You and your partners will attend a visit to the IHOP Restaurant Support Center to interview with key members of the IHOP executive team to gain insight into your vision and goals and to answer any other questions.
10. Total application package is then reviewed for final approval/disapproval by IHOP executive team.

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