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.
What is Baskin-Robbins franchise fee?
$25,000 per locationUpfront costs for a new location The initial franchise fee for opening a Baskin-Robbins is $25,000 per location. It is good for a 20-year term.
How much money does a Baskin-Robbins make?
Average Baskin-Robbins hourly pay ranges from approximately $7.25 per hour for Crew Leader to $14.00 per hour for Associate. The average Baskin-Robbins salary ranges from approximately $17,000 per year for Assistant Manager to $50,000 per year for Manager.
What are the capital requirements for Baskin-Robbins?
Baskin-Robbins' Capital ContributionsUp to $75,000 for a single restaurant.$95,000+ for multiple restaurant development.Equipment credits: $31,000.Store refresh funds: $5,000.Store remodel funds: $20,000.
Which ice cream franchise is best?
Amul Ice Cream Parlor Franchise. Founded in : 1948. ... Naturals Ice Cream Franchises. Founded in : 1984. ... Cream Stone Franchise. Founded in : 2009. ... Kwality Wall Franchise. Founded in : 1956. ... Ibaco Franchise. Founded in : 2012. ... Gianis Franchise. Founded in : 1956. ... Vadilal Ice Cream Franchise. ... Gelato Vinto Ice Cream Franchise.More items...•
What is the most profitable franchise?
Most Profitable FranchisesDunkin'7-Eleven.Planet Fitness.JAN-PRO.Taco Bell.Orangetheory Fitness.Great Clips.Mac Tools.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.
What is the franchise fee for Dunkin Donuts?
Here is a breakdown and ranges of the financial requirements to open a Dunkin' franchise: Total investment range: $97,500 to $1.7 million. Initial franchise fee: $40,000 to $90,000 (varies by location) Net worth: $500,000 minimum.
How can I own a Starbucks franchise?
You can't. Starbucks Coffee doesn't franchise. Even though franchising is a classic, successful growth strategy for myriad beloved, familiar brands, Starbucks does not grant franchises. It's not because franchising isn't a time-tested model for growth.
What is the cost of McDonald's franchise?
The Franchise fee of McDonald's goes for around 30 lakhs INR; however, this fee is also attached with a 4 % monthly royalty fee as service fees to the brand. The actual investment amount differs, a business owner needs to keep a rough estimate of around 6 to 14 Crores.
How much does it cost to get KFC franchise?
The estimated start-up cost can range from ₹ 96 lakhs to ₹ 2 crores. Also, ₹ 36 lakhs is required as a franchise fee to become a KFC franchise owner in India. In addition, a royalty fee of 5% is needed to be paid to the company on gross monthly receipts.
How much does it cost for Domino's franchise?
Initial franchising fee: The Domino's initial franchise fee is $10,000 for building a new store or refranchising a closed store. Do note that Domino's sometimes charges a "reservation fee" of $25,000. The franchise disclosure document that you receive will have more details on this additional fee.
How much money do you need to open a Baskin Robbins franchise?
Ensure you have adequate capitalization. In order to open a Baskin-Robbins franchise, you must have a net worth of more than $93,000. Appreciate the investment required for a franchise. Evaluate your prior experience and strengths.
Where is Baskin Robbins located?
Baskin-Robbins is an American chain of ice cream and cake specialty shop restaurants. Based in Canton, Massachusetts, it was founded in 1945 by Burt Baskin and Irv Robbins in Glendale, California.
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.
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.
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.
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 .
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.
Who is the parent company of Baskin Robbins?
Inspire Brands is the ultimate parent company. Baskin-Robbins franchised restaurants sell Baskin-Robbins ice cream, related frozen products as well as other food items and products compatible with its concept.
How long is Baskin Robbins training?
Training Overview: The Baskin-Robbins Brand Training program takes a total of 10 days to complete the classroom/instructional phase when taught in person at Dunkin’ Brands University (DBU) in Braintree, MA. This does not include online training, additional in-restaurant practice or travel time. The franchisor also requires a total of five days of restaurant operations training in a designated training restaurant. This program consists of instructor demonstrations on how to produce, merchandise, serve and package products sold in a restaurant, followed by student practice. ( Due to Covid, it is currently a virtual program that takes 21 days. During these 21 days, you will be required to travel to a host franchise training restaurant to practice product execution and additional items taught by trainers during the virtual training time. This can be changed at the franchisor’s discretion.) Some required classes are only offered on the Internet and are referred to as online training. These classes will require approximately 16 hours to complete. This is in addition to the brand training. For their first Restaurant, the franchisor may require franchisees to participate for two days in the opening of another restaurant. Franchisees must attend and require their employees to attend further training as the franchisor may require. This training may require travel to the franchisor’s training facility.
What is franchising financial assistance?
Financial Assistance: The franchisor facilitates certain lending arrangements through third party lenders, which may provide financing for qualified franchisees. The amount of financing and period of repayment varies by program, circumstances, and creditworthiness of the applicant.
What is a territory granted franchise?
Territory Granted: Franchisees will be granted the right to operate one restaurant at a specific location that is specified in the Franchise Agreement or its exhibits, and only at that location. Franchisees will not be granted any additional rights, any minimum territory, or other protected rights.
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Do franchisees have to work every day?
Depending on the sales volume of the restaurant, franchisees should expect to work a full shift in the restaurant every day. If sales and profits are high, franchisees may not be required to do this, but they should not enter into the business unless they are willing and able to meet this requirement.
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).
What are the similarities between buying an existing location and opening a new location?
There are some similarities, such as the royalty fee, marketing and advertising fees, etc.
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.
