Getting the ball rolling
Baskin-Robbins require that multi-store (five to ten outlets) investors are able to able to access at least £300k in liquid capital and have available funding of a further £700k to complete a roll-out of a ten-store portfolio over the course of two years. Within these sums there are standard franchise set-up costs to consider. The most common cost is a Franchising Fee, which can account for such as brand licensing, training and site selection, but precisely what the fee covers will differ from company to company.
Setting up shop
Other typical costs in setting up a franchise include the legal fees for a specialist Franchise Lawyer, who will review all documentation concerned with the transaction. Fitting, furnishing, equipping and decorating a retail premises, as well as installing signage, all in accordance with the franchisor’s corporate identity, represents another substantial set-up cost. The purchase of stock, all required supplies, and working capital for an agreed period must also be included in the total initial outlay.
Compare The Financial Markets
As with any business start-up, adequate finance is required, not to mention an in-depth knowledge of the sector, and the potential pitfalls and stumbling blocks. Thorough research is an absolute must and professional advice is invaluable.
At Compare the Financial Markets we understand the franchise business and can provide the information you require to make a success of your franchise choice.
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