How to Finance a Great Wraps Franchise: Airport and Street Units
By Anthony Cornella
A Great Wraps franchise loan usually funds a compact, high-volume restaurant serving hot wrapped sandwiches, cheesesteaks and bowls, often inside an airport terminal or shopping mall. Because the brand operates in several very different settings, the right financing depends heavily on the format, the landlord and the build-out.
This article covers what the franchisor publishes about the concept, how costs and fees should be confirmed in the Franchise Disclosure Document (FDD), how the brand’s SBA Franchise Directory listing works and how new units, resales and multi-unit deals are typically financed.
US Professional Funding is not affiliated with, sponsored by or endorsed by Great Wraps; the name is used only to describe the business. Figures from the franchisor’s disclosure document and website can change, loan programs and terms vary by lender and borrower, and every loan is subject to lender review and approval. Nothing here is legal, tax or investment advice. Review the current FDD and franchise agreement with a qualified franchise attorney and accountant.
Great Wraps Franchise Loan at a Glance
- Concept: chef-created hot wraps, cheesesteaks, bowls, salads, frozen smoothies and a from-scratch breakfast across three dayparts.
- History: the franchisor traces its beginnings to 1989 and cites more than 30 years of experience.
- Formats: airport, mall and streetside restaurants, from roughly 250 square feet to more than 1,000 square feet, with hooded or hoodless kitchen options.
- Fees and investment: the franchisor’s website shows different fee and cost schedules by format; confirm the figures for your unit type in Items 5, 6 and 7 of the current FDD.
- Training: a two-week training program plus in-store training before opening.
- Franchisor financing: the company says it does not provide direct financing but will help connect owners with financing sources.
- SBA Franchise Directory: listed as Great Wraps Grill / GW Gyro & Wings under code S0747, with no additional directory note.
What Is Great Wraps?
Great Wraps is a quick-service restaurant brand built around hot, wrapped sandwiches. The franchisor says its beginnings date to 1989 and describes itself as the number-one hot wrapped sandwich franchise in the country. Prospective owners attend a Discovery Day in Atlanta as part of the franchise process.
The menu. The menu includes hot wraps such as a signature gyro wrap, cheesesteaks, bowls and platters, salads, sides and frozen smoothies. The company highlights grilled meats, fresh ingredients and a full breakfast made from scratch, which lets a restaurant sell across three dayparts.
Built for travel and retail settings. Great Wraps positions itself strongly with airport authorities and concessionaires. It describes its food as fast, hot, healthy and low-mess at reasonable prices, which suits travelers and airport employees. The company says it is committed to Disadvantaged Business Enterprise participation and helps franchisees build proposals for airport selection committees and mall owners.
Two brand names on one listing. The SBA directory lists the brand as Great Wraps Grill / GW Gyro & Wings, which signals that the franchisor offers its concept under more than one name. Confirm which brand and format your franchise agreement covers.
Why lenders view it the way they do. Lenders see an established brand with a long history and small-footprint units. Airport and mall units depend on concession agreements or retail leases with specific terms, so lenders look closely at the lease or concession term, the landlord’s requirements and the operator’s experience in high-traffic food service.
Great Wraps Franchise Costs
The franchisor’s website publishes several fee tables and cost ranges, and they differ by format. Because those published schedules do not line up neatly with one another, the only reliable source for your unit is the current FDD. Use the categories below to organize your review.
Initial franchise fee. Item 5 states the fee for your format and whether reduced fees apply to additional units. Airport and streetside units may carry different fees.
Build-out. The franchisor says a hooded full-cooking operation is available, as is a hoodless option where venting is not possible. Ventilation is often one of the biggest build-out variables, so the choice affects your budget. The company notes that conversions of existing restaurant spaces and landlord build-out allowances can lower costs, while site conditions, building codes, union labor and states such as California and New York can raise them.
Equipment. Expect grills and flat-tops, warming and holding equipment, refrigeration, blenders for smoothies, breakfast equipment, a point-of-sale system, menu boards and smallwares.
Total investment. Item 7 breaks the estimated initial investment into line items. Expect categories such as:
- Initial franchise fee
- Rent, concession or lease deposits
- Design, architect and permitting costs
- Leasehold improvements and construction
- Kitchen equipment and smallwares
- Signage, menu boards and decor
- Point-of-sale technology
- Opening inventory
- Training and travel
- Insurance, licenses and security badging where required
- Additional funds for the initial operating period
Ongoing Fees and How They Affect Your Loan
Royalty and marketing. Item 6 of the FDD lists the royalty and any brand development or marketing contribution for your format. Confirm whether the rates differ for airport and streetside units.
Concession fees and rent. In airports, concession agreements often require rent tied to sales on top of franchise royalties. In malls, percentage rent and common area charges may apply. Both reduce the cash available for debt service.
How lenders factor these costs in. Lenders add royalties, marketing contributions and occupancy costs to projected expenses, then stress-test whether the unit can still make its loan payments if traffic falls short. A complete fee picture makes a Great Wraps franchise loan request more credible.
Franchisor Requirements for New Owners
Great Wraps publishes capital requirements on its website, but they vary across its published schedules, so ask the franchisor which liquid asset and net worth thresholds apply to your format. The company also explains its process:
- Submit an application listing every potential owner and investor, active or passive, with detailed personal financials
- Review the full FDD and return the signed Item 23 receipt
- Attend Discovery Day in Atlanta, where each potential owner meets the team in person
- Sign the franchise agreement, then work with the company on site selection, lease negotiation, store design, construction and grand opening
The company says it welcomes owners who already operate other food franchises. For airport units, the franchisor’s Store Development Team coordinates with your architect, contractor and the airport authority, and the company says design, approval, permitting and construction typically take 16 to 30 weeks once the space is secured and approved.
Ways to Own a Great Wraps
A new airport unit. Airport projects begin with a concession opportunity, often through a request for proposals. Lenders want to see the concession agreement, its term and the build-out budget before committing.
A new mall or streetside unit. These follow a more traditional lease path. Lenders review the lease term, rent and build-out bids.
Buying an existing restaurant. A resale gives a lender actual sales history to underwrite. Transfers require franchisor approval, and airport units may also need concession approval. Read more about buying a franchise resale.
Multiple units. Owners can add restaurants over time; ask about development terms in the FDD.
Financing Options for a Great Wraps Franchise
SBA 7(a) loans. With a directory listing, an SBA 7(a) loan can finance the franchise fee, build-out, equipment, working capital or the purchase of an existing unit, subject to approval.
SBA 504 loans. Most Great Wraps units operate in leased or concession space, so an SBA 504 loan fits mainly when an owner buys a building for a streetside restaurant.
Conventional term loans. Experienced multi-unit operators may use a conventional business loan, particularly when they already hold other food franchises.
Equipment financing. Grills, refrigeration, smoothie blenders and point-of-sale systems can be financed separately. See our restaurant equipment financing options.
Working capital and lines of credit. Airport and mall sales follow travel and shopping seasons. A line of credit can cover payroll and inventory during slower periods and the pre-opening stretch. Explore restaurant working capital.
Seller financing on resales. A seller may agree to carry part of the price of an existing restaurant. Any seller note must be acceptable to the senior lender, is typically subordinate to it, and loan programs may limit it.
SBA Loans for Great Wraps Franchisees
The SBA Franchise Directory lists brands whose franchise agreements have been reviewed for SBA eligibility, and SBA lenders generally require a listing before making an SBA-guaranteed loan to a franchisee. A listing does not approve any borrower.
The listing. Great Wraps appears as Great Wraps Grill / GW Gyro & Wings under code S0747, with no additional directory note. In plain English, lenders can review a Great Wraps franchise loan under standard SBA rules without special lease or franchise agreement conditions tied to this brand.
Program limits. The SBA 7(a) program maximum is currently $5 million, though program rules can change.
Application tips. Provide the FDD, franchise agreement, lease or concession agreement, build-out bids, personal financial statements for every owner and investor, tax returns and monthly projections. Our article on how lenders read an FDD explains what they focus on.
How Lenders Evaluate a Great Wraps Deal
Personal credit and financial history. Lenders review credit, tax returns and personal financial statements, and typically require personal guarantees from significant owners.
Net worth and liquidity. Lenders want cash for the equity injection and reserves after closing.
Industry and management experience. High-volume food service and airport operations experience carry real weight.
Business plan and projections. Projections should reflect passenger or shopper traffic, breakfast and lunch sales, concession rent and the royalty from Item 6.
The FDD and franchise agreement. Lenders check Item 17 for term, renewal and transfer rules and note whether Item 19 includes financial performance representations.
Lease or concession term. Lenders want the occupancy term to cover the loan term. Short concession terms can limit loan length.
Historical financials for resales. Expect to provide several years of profit and loss statements and sales reports.
Build-Out in Airports and Malls
Airport construction adds security clearances, restricted work hours, union labor in some markets and approvals from the airport authority. Mall projects require landlord design approval. Budget a contingency and expect the timeline to drive pre-opening costs. Our article on restaurant build-out financing explains how lenders fund this stage.
Multi-Unit Growth
Because the company welcomes owners with existing food franchises, many prospects already run other restaurants. Lenders underwrite a second or third unit on combined cash flow and experience. Learn more about multi-unit franchise financing.
Real-World Scenarios
An airport concessionaire adding a brand. An operator that already runs food outlets in a terminal wins a space for Great Wraps. It uses an SBA 7(a) loan for build-out and equipment, sized to the concession term.
A mall unit with a hoodless kitchen. A first-time owner opens in a mall food court where venting is not possible, choosing the hoodless option to manage build-out costs.
A resale purchase. A buyer acquires an existing mall restaurant with franchisor approval and finances it based on actual sales history.
Common Mistakes to Avoid
- Relying on website fee tables instead of the FDD for your format
- Signing a lease or concession shorter than the loan term
- Underestimating airport security and construction delays
- Leaving out concession rent when projecting cash flow
- Leaving too little working capital for opening
See common restaurant loan mistakes for more.
Next Steps to Finance Your Great Wraps Franchise
Step 1: Contact the franchisor. Ask which format, fees and capital requirements apply to you.
Step 2: Review the FDD. Study Items 5, 6, 7, 17 and 19 with advisors.
Step 3: Estimate your budget. Our SBA loan calculator gives early payment estimates for planning only.
Step 4: Secure a site. Pursue an airport concession, mall lease or streetside location.
Step 5: Prepare projections. Include royalties, rent and seasonality.
Step 6: Apply for financing. Submit the FDD, agreements, financial statements and projections.
Step 7: Close, build and open. Coordinate closing with construction and training.
Great Wraps Franchise Loan FAQs
How much does a Great Wraps franchise cost?
The franchisor’s website shows several cost ranges that vary by format. Item 7 of the current FDD gives the estimated initial investment for each unit type.
What is the Great Wraps franchise fee?
The fee depends on the format. Confirm it in Item 5 of the current FDD.
What royalty does Great Wraps charge?
Royalty and marketing contributions are listed in Item 6 and may differ by format.
How much liquid capital do I need?
The franchisor publishes capital requirements that vary by format. Ask which thresholds apply to your unit.
Is Great Wraps on the SBA Franchise Directory?
Yes. It is listed as Great Wraps Grill / GW Gyro & Wings under code S0747, with no additional note.
Does Great Wraps offer financing?
The company says it does not provide direct financing but helps owners connect with financing sources. Item 10 of the FDD has details.
How much space does a Great Wraps need?
The franchisor says locations from about 250 square feet to more than 1,000 square feet can work.
How long does it take to open an airport unit?
The company says design, approval, permitting and construction typically take 16 to 30 weeks once the space is secured and approved.
Can I buy an existing Great Wraps?
Yes, if one is available and the franchisor approves the transfer. Lenders underwrite actual results.
Can I own Great Wraps alongside other food franchises?
The company says it welcomes franchisees with existing food portfolios.
How long is the franchise term?
Item 17 of the FDD covers the term, renewal and transfer conditions.
Final Thoughts
A Great Wraps franchise loan depends on the format you choose and the occupancy agreement behind it. Confirm the fees and investment for your format in the FDD, match the loan to the lease or concession term, and build a budget that reflects airport or mall construction realities.
US Professional Funding helps franchise owners finance start-ups, acquisitions, equipment and working capital. Learn more about our franchise financing and restaurant financing programs.
