Carl’s Jr
Baskersfield, CA
Carl’s Jr. Restaurants LLC is a fast food restaurant chain operated by CKE Restaurant Holdings, Inc., with locations primarily in the Western and Southwestern United States. Carl Karcher (1917–2008) and his wife Margaret (1915–2006) founded the predecessor of Carl’s Jr. in 1941, starting as a hot-dog cart in Los Angeles. In 1945, the Karchers moved to Anaheim, California, and opened their first full-service restaurant, Carl’s Drive-In Barbecue.
As the restaurant became successful, Carl expanded his business by opening the first two Carls Jr. restaurants in Anaheim and nearby Brea in 1956. They were so named because they were smaller versions of Carl’s original drive-in restaurant. That same year, the chain was officially renamed Carl’s Jr. and the fast-food chain took off. In 2016, Entrepreneur listed Carl’s Jr. as #54 on their Top Franchise 500 list, which ranks the overall financial strength, stability, and growth rate for the top 500 franchisees in any field across the United States. As of March 2016, CKE (the parent company of Carl’s Jr. and Hardee’s) has a total of 3,664 franchised or company-operated restaurants in 44 states and 38 foreign countries and U.S. territories.
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Typical Lease Characteristics
Lease Term: 15-20 Years Years
Lease Type: Absolute NNN Lease
Lease Increases: 5-10% Every 5 Years
Lease Extensions: 4-5 (5) Year Options
Lease Guarantor: Corporate and Franchise
Tenant Overview
Most Carl’s Jr and Hardees locations are franchised, although there are also corporate leases. Additional attention must be given to the operator, including taking into consideration the number of locations, financial strength, and operational history.
Positives:
- Worldwide presence with high brand recognition
- Loyal customer base
- Typically Long term leases with increases
Negatives:
- Private Company, not rated
- Strength of investment may depend on Franchisee
- Susceptible to economic trends and pressures
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Carl’s Jr Similar Tenants
Carl’s Jr Company Profile
Headquarters Information
Carpinteria, California
Founded in 1941
Company type: Private
Parent Company: CKE Restaurants
Industry: Fast food
# of Employees: 5,000