You would like to own a franchise, because you believe that is one of the most secure investments a person can make in a business. You want to invest in a stable, popular business. You wonder how much does Baskin Robbins cost to franchise.
A Proven Business Leader?
There is no doubt Baskin Robins has grown from modest roots to become a worldwide industry leader. Irv Roberts started his small ice cream parlor in the 1930’s and served only traditional flavors like chocolate and vanilla. After World War II, his brother-in-law Burt Baskin joined. Today there are locations in 50 countries serving favorite flavors that now total more than 70, yogurt, sherbet, cakes, and drinks.
What Are the Total Costs Involved in Opening a Franchise?
What does it cost to franchise, what would be your total investment? According to the official website of the store, there are 2,700 stores in the United States and more than 3,100 worldwide. There are several costs to consider:
Your total investment would be $145,700 to $527,800. The initial franchise fee is $30,000. The royalty fee is 5.9%.
How Much Actual Cash Will I Need to Open My Own Business?
According to the company’s website, you will need a net worth of at least $300,000. You will need $100,000 liquid assets, or cash, checks, and securities that can be easily converted to meet any number of emergencies you might experience.
Are Financing Options Available?
If the cost of owning your own franchise store of $145,700 to $527,800 is to high, and an initial franchise fee of $30,000, scares you, there may be financing options available. The company works with a variety of approved lenders. The company itself does not provide financing. The business may be financed through business acquisition loans, equipment loans and leases, real estate loans, construction loans, and other means.
How Do I Apply for a Franchise?
According to the official website of the business, you can apply online. If you do so, you will be contacted by a Franchising Specialist for an initial interview. You will have go through a process that includes having various documents to complete, have a credit check completed on you, have a criminal background check, and prove your assets and your citizenship.
What Kind of a Commitment Would I Be Expected to Make, if I Bought a Franchise?
Company officials do not expect you to run the company all by yourself. They know you will have to hire others to help you, but you would be expected to be involved. Even if you have another job or business interest, it would be expected that you could leave any other business interest to attend to something important in your franchise.
Is it Right for You?
Owning a Baskin Robins franchise can be profitable. You will have to consider all the facts to decide such a business is right for you.