Full Answer
How much does it cost to open Smoothie King franchise?
The estimated total investment necessary to begin the operation of a Smoothie King Franchise ranges from $320,301 – $585,465 for an End-Cap or In-Line location but $723,501 – $1,184,865 for a Free-Standing Drive-Thru location. The following costs are part of the upfront costs included in the initial investment for a Smoothie King.
When will the Smoothie King FDD be available?
Please refer to the Smoothie King FDD with an issuance date of April 15, 2022. our Franchise Kit. Why do you want to own a Smoothie King?
Who is the CEO of Smoothie King now?
CEO since 2012, Wan Kim appointed Tom O’Keefe as Smoothie King’s corporate president in 2014. In 2019, he replaced Jennifer Herskind with Rebecca Miller (who was previously with On the Border Mexican Grill & Cantina) as the chief marketing officer.
Is Smoothie King the best smoothie chain?
If you are a fan of healthy and nutritious smoothies, then you probably have heard of Smoothie King before. This smoothie giant is one of the most well-known smoothie chains in the country with 973 locations and rakes in annual revenue of over $420 million.
How much does a Smoothie King franchise make?
How do you franchise a Smoothie King?
Is the Smoothie King franchise for you?
Do Smoothie King franchises make money?
2021 Smoothie King Median Franchise Sales: $573,269 Based on the median sales provided by Smoothie King's franchise locations, at an average of a 15% profit margin it will take around 8.75 years to recoup your investment. This is longer than other franchise opportunities.
How much does a Smoothie King franchise cost?
How much does it cost to open a typical Smoothie King location? The estimated initial investment for an inline or end-cap store can be between $320,301 and $585,465 (including a $30,000 franchise fee). The estimated initial investment for a free-standing drive-thru store can be between $723,501 and $1,184,865.
How much do franchise owners make?
When researchers accounted for the inflations caused by the few top franchises, it was established that the average annual income of 51 percent of franchisees is less than 50,000 dollars. The study also found that only 7 percent of franchise owners earn over 250,000 dollars a year.
What is the most profitable franchise?
Top 14 Most Profitable FranchisesMcDonald's. Units in operation: 39,360. ... Dunkin Donuts. Units in operation: 12,800. ... Taco Bell. Units in operation 12,800. ... Subway Franchise. Offers Financing: Yes. ... Anytime Fitness Franchise. Units in operation: 4,904. ... Sonic. Royalty: 2.5% - 5.0% ... Planet Fitness. Royalty 7.0% ... Orangetheory Fitness.More items...
Are smoothie shops profitable?
Yes, juice bars have the potential to be very profitable. It's reported that the average revenue of a juice bar can range from $100,000 to $600,000. Juice bar profit margins are bigger than other restaurants because labor and expenses are much lower.
How much is it for a Starbucks franchise?
Initial Start-Up Funding The average cost to license a Starbucks store is $315,000. You'll also need $700,000 in liquid assets to be considered.
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.
What is the most profitable franchise to own in 2022?
Most Profitable FranchisesDunkin'7-Eleven.Planet Fitness.JAN-PRO.Taco Bell.Orangetheory Fitness.Great Clips.Mac Tools.More items...•
Is owning a franchise a full time job?
Buying a franchise doesn't have to mean making a full-time commitment. Believe it or not, there are many franchises that can be run on a part-time basis, especially when you first start out.
Is buying a franchise a good investment?
If you're a fledgling entrepreneur or a seasoned business person wanting to diversify your holdings, you've probably wondered, “Are franchises a good investment?” The simple answer is yes, especially if a great opportunity presents itself. There is an obvious appeal to starting a business via buying a franchise.
How much does a Dunkin Donuts owner make?
Average Sales / Revenue per Year 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.
Are franchises worth it?
Franchises have a higher rate of success than start-up businesses. You may find it easier to secure finance for a franchise. It may cost less to buy a franchise than start your own business of the same type.
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.
Who owns Smoothie King?
Wan KimThe Wan Kim Era In July 2012, the Kuhnaus sold Smoothie King to Wan Kim. Since then, Smoothie King has grown to more than 1,100 units in 33 states, the Caymans, Trinidad, and the Republic of Korea.
How much is it to buy a Taco Bell franchise?
Costs overview Franchising fee: It costs between $25,000 and close to $50,000 for the initial franchise fee. This, too, will vary depending on the details of your specific Taco Bell franchise. Net worth: The current net-worth requirement is around $1.5 million worth of assets.
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 much does a Smoothie King franchise make?
The company provides better data than some others, making it possible to get a good estimate. Average net sales for a Smoothie King outlet are $521,461 per year. The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) is on average 20%. These figures provide an estimated average operating income of $104,292 (Item 19, FDD 2021).
How do you franchise a Smoothie King?
The process for obtaining a Smoothie King franchise starts with an online application, in which you provide details of your experience and qualifications , why you want to run a Smoothie King, and your preferred locations.
Is the Smoothie King franchise for you?
If you’re interested in food and healthy living, then Smoothie King could be a good choice. Current wage squeezes are creating uncertainty for the restaurant sector, but Smoothie King ’s financial transparency means that you have a better idea of what you’re getting into and what your potential earnings are.
How much does a Smoothie King franchise make?
Franchise profits depend on a number of variables, including local demand for your product, labor costs, commercial lease rates and several other factors. Typically, franchise profits are proportionate to the size of investment. We can help you figure out how much money you can make by reviewing your personal situation.
How many franchise locations do they have?
As of the 2020 Franchise Disclosure Document, there are 934 franchised Smoothie King locations in the USA.
Are there any Smoothie King franchise opportunities near me?
Based on 2020 FDD data, Smoothie King has franchise locations in 32 states plus DC. The largest region is the South with 747 franchise locations.
How Much Do Smoothie King Franchisees Make?
The following chart shows the average net sales of Smoothie King Units from the latest fiscal year (2020).
How much does it cost to start a Smoothie King franchise?
of a Smoothie King franchise can be as high as $858,000, it is important to invest less money to start a location. If you invest $500,000+ to start a Smoothie King location, it could take you 5+ years to recuperate your initial investment.
How many Smoothie King units are there in 2020?
At the end of 2020, there were a total of 1008 Smoothie King units for a net change of +39 units.
Is Smoothie King a franchise?
Furthermore, there is a lot of operational support for franchisees, given that most of the Smoothie King units are franchised.
Smoothie King Salary FAQs
How does the salary as a Franchise Owner at Smoothie King compare with the base salary range for this job?
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How Much Can I Make with a Smoothie King Franchise?
Smoothie King was ranked no. 1 on Entrepreneur’s annual Franchise 500 list, so many people clearly regard it as a lucrative franchising opportunity. They have a simple core product offering and a cost-effective POS system for making sales. Franchises also partner with vendors to keep supply costs competitive and prices affordable.
How much does a Smoothie King franchise make in 2020?
According to Glassdoor, the average salary for a Smoothie King franchise owner as of 2020 is $42,305-$46,227. Smoothie King itself does not publish any kind of estimated franchise owner payment so we have to make do with what other franchise owners report making. Again, that number is a reported average so it may not be accurate.
How much does Smoothie King charge?
Smoothie King corporate charges a 6% royalty fee on all gross monthly sales and a 3% ad royalty fee. Also, when you sign up to become a Smoothie King franchisee, you sign a 10-year franchise term agreement.
How much revenue does Smoothie King have in 2020?
In 2020, Smoothie King managed to generate approximately $415.7 million.
How many square feet does Smoothie King have?
In general, though, Smoothie King tries to keep property costs down. They usually target retail locations between 800 to 1,600 square feet so there is no substantial real estate investment, unlike other franchises.
How long is Smoothie King training?
After that, it’s up to you to cover training costs. Training consists of one orientation day, 11 days of management training, and 5 days of on-site training.
How big is Smoothie King?
The average Smoothie King location is between 800 to 1,600 square feet large. They are usually located in community strip centers neighborhoods, malls, universities, and other retail locations.
How much does it cost to franchise a Smoothie King?
Each Smoothie King franchise owner has the right to initially develop one store for the franchise fee of $30,000. The difference between low and high investment levels exists due to labor, location, varying store sizes, build-out costs and expenses, and your experience and management of the store’s development.
What is a Smoothie King starter kit?
Smoothie King offers a starter kit unlike any other, allowing you to embrace your entrepreneurial spirit and forego many issues even the best businessmen face when trying to start an operation from scratch. We offer the support and training of an industry-leading brand and more experience than any other Smoothie franchise. With our invaluable resources, your desire to help consumers live healthier, happier lives, and our combined passion for Smoothie King, we can rule the day as we change lives for the better.
How much does a Smoothie King franchise make?
The company provides better data than some others, making it possible to get a good estimate. Average net sales for a Smoothie King outlet are $521,461 per year. The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) is on average 20%. These figures provide an estimated average operating income of $104,292 (Item 19, FDD 2021).
How do you franchise a Smoothie King?
The process for obtaining a Smoothie King franchise starts with an online application, in which you provide details of your experience and qualifications , why you want to run a Smoothie King, and your preferred locations.
Is the Smoothie King franchise for you?
If you’re interested in food and healthy living, then Smoothie King could be a good choice. Current wage squeezes are creating uncertainty for the restaurant sector, but Smoothie King ’s financial transparency means that you have a better idea of what you’re getting into and what your potential earnings are.