Presentation Transcript

1. The Process of Buying a Franchise

   Marble Slab Creamery Brianna Taylor
2. Quick steps to buying a Franchise Choosing the right franchise Deciding what franchise you can afford Get an estimate of how much money you have/will need to start your franchise What to do after choosing your franchise Hiring a franchise attorney Preparing your business plan
3. How to… buy a Marble Slab Creamery Franchise. “Steps to take to begin” Review the costs and requirements for opening a Marble Slab Creamery franchise as outlined on their website. The range for initial costs for opening a Marble Slab Creamery franchise in the United States is $225,275 to $376,375. There is also a royalty fee of six percent of gross sales and an advertising fee of two percent of gross sales. Download, complete and submit the Candidate Profile located on the Marble Slab Creamery's website. The candidate profile includes questions regarding contact information, employment history, business and management goals and a financial statement. Complete a phone interview with a regional Sales Coordinator to learn more about owning a Marble Slab Creamery franchise. Review the Uniform Franchise Offering Circular and franchise agreement, which contains information about the company. It also includes financial information and details of the franchise operation. Discuss any questions you have about the Uniform Franchise Offering Circular or franchise agreement over the phone with your sales coordinator. Attend Discovery Day at the Marble Slab Creamery corporate headquarters where you will meet with executives, tour the facility, learn company history, discuss future development plans and learn about marketing opportunities. Sign the franchise agreement and become a part of the Marble Slab Creamery franchise family. Read more: How to Buy a Marble Slab Creamery Franchise | eHow.comhttp://www.ehow.com/how_2086878_buy-marble-slab-creamery-franchise.html#ixzz1G6w93z3U
4. Cost &Fees for Marble Slab Total investment:$250,085 - $403,135 Initial Franchise Fee: $28,000 Franchise fee:$10,000 - $25,000 Ongoing royalty fee:6% Term of agreement:10 years, renewable Renewable Fee: 20% of current fee Qualifications: Net worth requirement: $250,000Cash liquidity requirement: $85,000 Operations: 65% of all franchisees own more than one unit Number of employees needed to run franchised unit: 8 - 10 Absentee ownership of franchise is allowed. (50% of current franchisees are owner/operators)
5. Franchise History The first marble slab creamery opened in 1983 The marble slab creamery started franchising in 1984
6. Tips & Warnings Franchise fees include initial franchise fees, royalty payments, advertising fees and other expenses outlined by the franchise agreement. The franchise agreement outlines what type of control you, as the franchisee, have over certain decisions. Before signing a franchise agreement, consult a lawyer, franchise attorney, and accountant who will help you understand the risks involved with buying a franchise. You should always investigate a franchisor thoroughly before signing any type of agreement with them. Make sure that they have good organization, good management, not in debt, make good profit, in demand, and make sure they make a good profit, and that they aren’t in any illegal trouble.
7. My idea… Come up with something that you know a lot of people like and something you like/like to do. Something popular and in demand. Ex: ice cream (marble slab) Make your “idea”(business) something that will attract a lot of people (business). Start where your comfortable. Smart small then rise to big, or start big, stay big, or get BIGGER! $$$$$ start small: get a small business loan. Do things that will please EVERYBODY like: for an ice cream shop don’t just do ice cream…go healthy with it(organic, frozen yogurt), go sweeter (toppings), a large variety (flavors/cone/cups). Make your store/business/work area fun, attractive, and decorative. Decide whether you want to build a whole new building, rent/buy a previous place for your use(previous owned ice cream shop), go In partner with somebody, or buy a (ice cream shop)franchise. Choose a name for your business, start getting an idea of a budget you have or will need(where to get start-up financing), insurance, how much space you’ll need(square footage), location, design(interior/exterior), Equipment/supplies(cost for it also), how to get inventory for your business: (wholesalers/suppliers), develop effective systems, set your prices, accepting payments, theft protection, computer software help manage inventory), ways to attract customers(advertisement/cost for it), organize grand opening, increasing sales of your business w/effective customer relations: how to greet, handling difficult customers, how to get “repeat” business, how to find and hire great employees,