Full Answer
How much does Baskin Robins cost to franchise?
The initial franchise fee for opening a Baskin-Robbins is $25,000 per location. It is good for a 20-year term. The current net worth requirement to open a Baskin-Robbins franchise is $200,000.
How much does Baskin Robbins pay per hour?
The average Baskin Robbins hourly pay ranges from approximately $10 per hour for a Team Member to $15 per hour for a Student. Baskin Robbins employees rate the overall compensation and benefits package 2.9/5 stars. Are Baskin Robbins employees satisfied with their compensation?
How much does it cost to buy into a franchise?
• Franchise Fee: This amount can vary, depending on the franchise, but the average amount is typically $20,000 or $50,000, according to the Small Business Administration. This is paid when you first purchase your franchise.
How much does ice cream cost at Baskin Robbins?
When you arrive, expect to pay from $2 to $5 for a cup, cone or soft serve; a sundae will cost about $5. Baskin & Robbin’s have consistently ranked as one of the leading ice cream chains in the world. They have dedicated their lives to providing delicious products, personable service, and putting smiles on their customers’ faces.
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Is owning a Baskin-Robbins franchise profitable?
Baskin-Robbins is a profitable business for the franchisor with income that surpasses the half million dollars in every fiscal year.
How much does it cost for a Baskin-Robbins franchise?
Baskin-Robbins Franchise / Initial Investment / Baskin-Robbins Franchise Income. The estimated initial investment required to open a Baskin-Robbins ice cream franchise is $94,350 to $402,200, including an initial franchise fee of $25,000.
What franchise is the most profitable?
Most Profitable FranchisesDunkin'7-Eleven.Planet Fitness.JAN-PRO.Taco Bell.Orangetheory Fitness.Great Clips.Mac Tools.More items...•
Are ice cream franchises profitable?
Are Ice Cream Franchises Profitable? There are a lot of variables that go into whether any individual franchise is profitable. But, generally speaking, ice cream franchises can be very profitable.
Which ice cream franchise is best?
Here are the top 10 best Ice Cream franchises in IndiaNatural Ice Cream. Founded in: 1984. ... Gelato Vinto. Founded in: 2005. ... Michaels Icecream Burger. Founded in: 2017. ... Gargi's Milkshakes. Founded in: 2011. ... Raw Creams. Founded in: 2015. ... Grandpa's ice cream - Fresh & Natural. Founded in: 2019. ... Stickhouse Pvt. Ltd. ... Iceberg Icecreams.More items...
What is the cost of a Starbucks franchise?
What are the Financial requirements for a Starbucks licensed store? You need to pay the licensing fee of between $50,000 – $315,000 and you must have over $1,000,000 in liquid assets to be considered for a licensed store by Starbucks.
Can you get rich owning a franchise?
The bottom line is that while a franchise can make you independently wealthy, it isn't a guarantee. Choosing the right business in the right industry, and going in with preexisting entrepreneurial experience and/or existing wealth can help, but your income-generating potential may still be somewhat limited.
Do franchise owners make money?
Franchise Business Review found that the average annual pre-tax income of franchise owners in America is $80,000. Only 7% of franchise owners make more than $250,000 annually, and 51% earn less than $50,000. Legally, franchisors cannot give income amounts or forecasts of future income.
How much does a Dunkin Donuts owner make?
The average Dunkin' franchise is getting around $620,000 to $1.3 million in sales per year. This results in the average Dunkin' franchise owner to have an annual salary of around $124,000.
What is the largest ice cream franchise?
Baskin RobbinsBaskin Robbins is The world's largest chain of ice cream shops with more than 6,700 locations in nearly 50 countries. Baskin-Robbins, one of the biggest franchises in the world's Ice Cream, a specialist in the Premium Ice Cream with a variety of flavors.
What is the profit margin on ice cream?
According to Ice Cream University, a standard ice cream shop has a profit margin of about 25%. Which means that you'll have to sell at least $4 worth of product for every $1 spent to break even. So how many scoops, sundaes, and banana splits can you expect to sell during the average business day?
How much does a ice cream franchise make?
A Naturals ice cream franchise has a profit margin of 55 per cent and yearly revenue of about ₹115 crores.
How much does a Baskin Robbins franchise cost in India?
Financial RequirementsFeeBR KioskBR ParlourFranchise Fee (Includes store opening, marketing, project, consultancy and training fees)Rs.500000Rs.400000POS feesRs.30000Rs.30000Service TaxAs applicableAs applicableTotal Investment (Approximately)Rs.1128000Rs.12260007 more rows
How many Baskin Robbins are there in India?
The brand gained its reputation as the largest ice cream retail chain in India, with over 31 premium international flavors available in over 200 cities and more than 750 exclusive stores.
Do people feel that they are paid fairly for their work at Baskin-Robbins?
Indeed’s Work Happiness survey asked over 958 current and former employees whether they feel they are paid fairly for their work. Of the respondent...
How often do you get pay raises at Baskin-Robbins?
Indeed’s survey asked over 249 current and former employees how often they received pay raises when they worked at Baskin-Robbins. Most respondents...
Do you get paid sick days at Baskin-Robbins?
Indeed’s survey asked over 923 current and former employees how many paid sick days they received for their role. Respondents said they received ....
What kind of flexibility benefits can you get at Baskin-Robbins?
To find out what kind of flexibility benefits Baskin-Robbins offers, Indeed’s Work Happiness survey asked over 159 current and former employees. Re...
Do you get paid time off at Baskin-Robbins?
Indeed’s survey asked over 923 current and former employees how many paid vacation days they received for their role. Respondents said they receive...
How much vacation and PTO did you get at Baskin-Robbins?
We asked over 923 current and former employees how many paid vacation days they received for their role. Respondents said they received no paid vac...
How do franchise profits depend on the size of the investment?
Typically, franchise profits are proportionate to the size of investment.
What is franchise grade?
Franchise Grade is dedicated to providing research and education that can help you make confident franchise investment decisions.
Are there any Baskin-Robbins franchise opportunities near me?
Based on 2020 FDD data, Baskin-Robbins has franchise locations in 36 states plus DC. The largest region is the West with 651 franchise locations.
How much does Baskin Robbins pay?
The average Baskin-Robbins salary ranges from approximately $15,000 per year for Team Member to $190,086 per year for Senior Director of Marketing.
How much should you be earning?
Tell us about you and get an estimated calculation of how much you should be earning and insight into your career options.
What is required to open a Baskin-Robbins franchise?
Baskin Robbins has a series of requirements if you want to open a franchise. These requirements include having a net worth of at least $200,000 per unit and a $100,000 liquidity and going through the application process.
Is Baskin-Robbins Franchise Profit Worth the Franchise Cost?
After a few years in the business, when you go to sell your franchise based on the median multiple of .44 and net sales average from 2019-2020 of $419,003 a Baskin Robbins franchise would sell for about $184,361. This is 51% less than the midpoint initial investment of $$358,085 which means you would most likely be selling at a loss.
Conclusion
Baskin-Robbins is one of the most popular ice cream franchises in America. Ice cream is also the most popular frozen dairy product in the US, and no matter what, people will always consume it. It is also an industry that lets you adapt to new trends without a significant investment.
How much does Baskin Robbins charge for franchise?
One of the most common fees for owning a franchise is the marketing and advertising fee. Baskin-Robbins will assess a minimum of $5,000 per new location opening (and if you remodel and reopen, a $3,500 fee). Additionally, for advertising, you’ll be required to pay an ongoing fee of 5.0% of gross sales. It’s important to note that you’ll have to follow the franchisor’s guidelines for marketing and advertising implementation as well as its brand guidelines.
How much does it cost to open a Baskin-Robbins franchise?
If you’re considering opening a Baskin-Robbins franchise, cost is obviously going to be a major factor in your decision. As you might expect, franchise fees will vary depending on the type of franchise you’re going to open and the location where you open your store.
Why is the Baskin Robbins franchise fee so high?
Marketing support: Although the fee is high for marketing and advertising, this is partly because some franchisees say that the corporate support for getting the word out there is a strong pro to opening a Baskin-Robbins franchise.
How much is the royalty fee for Baskin Robbins?
As with most franchises, Baskin-Robbins will require you to pay an ongoing franchise royalty fee, which is a percentage of your store’s sales. The fee is 5.9% of gross sales, which you’ll pay out to your corporate partner at predetermined time increments (generally monthly or quarterly).
How much does it cost to buy real estate?
In general, as you’re calculating real estate, expect to spend between $15,000 to $200,000, much of which depends on the location of your store, the footprint, and more. If you’re planning to buy land, you’ll incur a separate cost.
How much cash liquidity do you need to sell a house?
Cash liquidity: You’ll need to have 30% of the total selling price, plus cost of remodels, available in liquid assets.
When did Baskin Robbins open?
The first Baskin-Robbins opened in Glendale, California, in 1945 as a standalone ice cream parlor—naturally, the shop had all 31 of those recognizable flavors. Then, in the 1950s, Baskin-Robbins began offering franchising.
Company Details
The ice cream industry is a multi-billion dollar business and isn't slowing down. America’s ice cream franchises are well-known and beloved worldwide. Ice cream contributes over $13 billion to the U.S. economy and adds 28,800 jobs.
Support and Training Offered By Baskin-Robbins
In terms of support and training, Baskin-Robbins offers franchisees a three week training program that includes Technical Training that is live and in-store, Instructor-Led Classroom Training, Online Learning Management System, and Mentoring and Skill Building.
Franchises Similar to Baskin-Robbins
The International Franchise Professionals Group (IFPG) is an internationally recognized membership-based franchise organization. IFPG Franchise Consultants guide aspiring business owners through the process of identifying and investing in franchise businesses. The IFPG represents more than 550 franchises.
How many sq ft is a Baskin Robbins franchise?
These can be freestanding, end-cap, or in-line configurations. A typical traditional Baskin-Robbins location is 800 to 1,500 sq. ft. with approximately 20 feet of frontage.
When did Baskin Robbins start franchising?
By 1948 , there were six open locations, and in the following year, Baskin-Robbins began franchising. Shortly prior to the passing of Burt Baskin, the franchise chain was acquired by United Brands Company in the late 60's, and later purchased by J. Lyons and Co. in the 70's.
How much does it cost to open a Baskin Robbins ice cream franchise?
The estimated initial investment required to open a Baskin-Robbins ice cream franchise is $94,350 to $402,200, including an initial franchise fee of $25,000. Baskin-Robbins franchise owners must pay a 5.9% royalty on monthly gross sales as well as contribute a 5% advertising fee toward the franchisor's marketing program.
How many Baskin Robbins locations are there?
Baskin-Robbins now has approximately 8,000 locations throughout 50 countries. 100 percent of the locations are franchised.
What is the common theme of Baskin Robbins?
The common theme is that all these locations attract significant foot traffic from Baskin-Robbins' target customer demographic.
Is Baskin Robbins a franchise?
Baskin Robbins is listed in the Franchise Directory under the Food category. It's also listed in the section for Franchises Under $150,000 .
How much does a cleaning franchise cost?
This model is not to be confused with buying cleaning contracts which is a totally different model with a much smaller investment. Also not to be confused with a MASTER cleaning franchise which is more about selling franchise contracts. A master cleaning franchise is a great business for people with sales experience, and the average gross for a cleaning master franchise is $2,800,000, top earners at $5,800,000 . A master cleaning franchise will have an investment range of between $240k and $400k.
How much do food franchises make?
They assume food franchise owners are the biggest moneymakers, but according to a Franchise Business Review report, 51.5 percent of food franchises earn profits of less than $50,000 a year and only about 7 percent of food franchises have profits over $250,000.
Why do we call Franchise City?
Smart investors call Franchise City because we have all the data on file. But more importantly, not everyone has the skills or background to successfully operate a senior care or staffing franchise. If you are a bad fit, even with the top franchises, you will not make money. A Taco Bell will have people walking in and buying a taco, but it doesn't really matter if you have no business skills, or are not a good communicator. With senior care, staffing and service-based businesses in general the owner is driving that business forward and they need to have specific skills in order to succeed. We provide a detailed skills assessment to all our clients as part of our free service.
What is the highest grossing franchise on QSR50?
The single highest grossing food franchise on the QSR50 is Chick-fil-A. An average Chick-fil-A generates 4.16 million dollars annually and your investment is only $10,000. But keep in mind that Chick-fil-A has a very different franchise model than other franchises and owners do not receive a traditional revenue split, or even ownership of the store. You'll earn a solid six figures, have limited risk, be part of a solid organization with traditional values but you do not own the store or gain any equity.
How much does it cost to buy a McDonald's?
Buying a Mcdonald's will cost you between $1,263,000 to $2,235,000 not including your real estate. Many people think these numbers include real estate, they do not.
What is gross revenue?
For aspiring entrepreneurs' annual gross revenue is the total amount of money that comes into your store for all goods sold. Net income is how much money is left after you pay your rent, your payroll, your royalties, insurance and everything else. Net is really the important number, as 10 million a year gross revenue is not that impressive if your expenses are 11 million! There are other important numbers like discretionary income and EBITDA (earnings before interest taxes depreciation and amortization) we'll cover those in a future article or video. Have you subscribed to us on YouTube? Franchise City YouTube
Do franchises track net revenue?
Franchises collect royalties on gross earnings, so they typically don't track the net. We help our clients gather the net numbers to make a more informed decision.
