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How much does it cost to open a Smoothie King?
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.
Is Smoothie King a good investment?
2021 Smoothie King Median Franchise Sales: $573,269 You may not get a 15% profit margin which would elongate getting a return on your investment. 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.
How much does the average Smoothie King make?
Average Smoothie King hourly pay ranges from approximately $8.00 per hour for Counter Sales Representative to $17.35 per hour for General Assistant. The average Smoothie King salary ranges from approximately $17,782 per year for Register to $170,000 per year for Regional Manager.
What is the best and cheapest franchise to open?
What are the cheapest franchises to buy?Cruise Planners. Franchise fee: $10,995. ... Jazzercise. Franchise fee: $1,250. ... Help-U-Sell Real Estate. Franchise fee: $15,000. ... United Country Real Estate. Franchise fee: $8,000 to $20,000. ... Stratus Building Solutions. ... Anago Cleaning Systems. ... JAN-PRO. ... Dream Vacations.
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.
Who is Smoothie King competitors?
Smoothie King's CEO, Wan Kim, currently has an approval rating of 89%. Smoothie King's primary competitors are Jamba, Juice It Up & Planet Smoothie.
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...•
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 cost of McDonald's franchise?
Documents- ID cards, lease documents, etc. Franchise Investment Cost- In India, if anyone wants to start a McDonald's franchise in India, then their net worth should be between INR 10 to 15 Crore. Also, assets worth INR 5 Crore should be in the form of cash or liquid assets.
What franchise can I open for 10K?
There are many franchise opportunities to invest in that don't require a huge initial investment....18 Affordable Franchises Under 10K in the U.S.Krispy Krunchy Chicken. ... Java Dave's Coffee House. ... Capriotti's Sandwich Shop. ... MOMLETA / Baby Boot Camp. ... Fit4Mom. ... Jazzercise. ... Social Owl. ... Fastest Feedback.More items...
Do franchise owners make good money?
Buying a franchise might seem like easy money, but those royalties and fees will quickly cut into profit margins. The majority of franchise owners earn less than $50,000 per year.
Can you buy a franchise with no experience?
So essentially, no you don't need experience in business ownership to be successful however your intrinsic skill set will help you to adapt to franchise ownership quicker and with less issues.
How many locations does Smoothie King have?
Find a Smoothie King Near You Whether you need a meal replacement, an afternoon snack, or fuel for your workout, Smoothie King has over 1,000 store locations across the U.S. Simply plug in your zip code or your city & state into our store locator below, and enjoy your next step in achieving your daily health goals.
How much is a 32 oz smoothie at Smoothie King?
Smoothie King Prices (Updated: October 2022)FoodSizePriceSlim BlendsLean1™ (Vanilla, Chocolate or Strawberry)20 oz.$5.29Lean1™ (Vanilla, Chocolate or Strawberry)32 oz.$7.29Lean1™ (Vanilla, Chocolate or Strawberry)40 oz.$8.49140 more rows
How much is a Banana King franchise?
How much does it cost to open a banana king? Investment Range. Endcap or inline location: $268,900 - $555,965. Free-standing Drive-thru location: $589,300 - $858,900.
Who is the CEO of Smoothie King?
Wan Kim (Jul 2012–)Smoothie King / CEOWan Kim is the global Chief Executive Officer for Smoothie King, an international Smoothie brand. Wan became Smoothie King's first international franchisee when he opened a store location in South Korea in 2003. Over the next five years, he launched and grew the brand to more than 130 locations in that country.
What Does a Smoothie King Franchise Cost?
Franchisees can expect to make a total investment of $269,550 - $845,985. They also offer financing via 3rd party as well as a discount for veterans (20% off Franchise Fee). *
When was the first Smoothie King franchise?
Smoothie King Franchises, Inc., the original U.S. smoothie franchise, is a privately-held, Dallas- based franchise company. Founded in 1973, Smoothie King has evolved into a lifestyle brand inspiring people to live healthy and active lifestyles via nutritious, great-tasting smoothies.
What is Smoothie King?
Simple proven operating system with a low cost of entry: By simplifying several business management processes and providing a low entry cost, Smoothie King is dedicated to helping you get off to a great start.
Store Closure Due To Racist Remarks On The Receipts
Two store locations of Smoothie King in Charlotte, N.C., were closed in 2019 after racist remarks were allegedly added to the receipt of customers. It was a disrespectful experience for the customers who received it, and they found it entirely inappropriate to use such language. Again, such incidents are wrong for a brands ethical image in society.
What It Takes To Own A Leading Smoothie Franchise
The following costs are excerpted from Smoothie King’s Franchise Disclosure Document and are estimated. Each Smoothie King franchise owner has the right to initially develop one store for the franchise fee of $30,000.
The Smoothie King Purpose
Smoothie King Franchises, Inc., is a privately held, Dallas-area-based franchise company with nearly 1,300 units worldwide. By creating each Smoothie with a “purpose”, Smoothie King makes it simple and pleasurable for guests to achieve their individual health goals.
How Much Is The Smoothie King Franchise Fee
Smoothie King has two different types of franchises, each with different fees: traditional and non-traditional.
How Much Money Can I Make
Since the actual results of individual franchises are based on factors that are not within the control of Smoothie King, we do not provide estimates of profits or revenues.
How Much Can I Make With A Smoothie King Franchise
Smoothie King was ranked no. 1 on Entrepreneurs 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 Smoothie King Franchise Cost
Looking for a business to franchise? Why dont you try Smoothie King? This company offers the first ever freshly blended, nutritional fruit smoothies. Smoothie King also offers healthy sports beverages, healthy snacks, energy bars, herbs, minerals, vitamin supplements, and other sport nutrition products.
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 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 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.
How much money do you need to open a Smoothie King?
In order to open a Smoothie King franchise, you must have a net worth of more than $300,000. Appreciate the investment required for a juicy bar franchise. Evaluate your prior experience and strengths.
Where is Smoothie King located?
The company was founded in 1973 and is based in Metairie, Louisiana. Smoothie King Franchises, Inc. owns, operates, and franchises a chain of smoothie bars and nutritional lifestyle centers in the United States, the Cayman Islands, Korea, and Singapore.
How big is a Smoothie King franchise?
The ideal size range for a Smoothie King Franchise is generally 800-1,600 square feet. However, smaller or larger stores are an option. They're usually located in neighborhood and community strip centers, power centers, shopping malls, universities, airports, and downtown business districts. The optimal area typically has a strong residential population, strong daytime employment, dynamic retail activity and proximity to fitness (gyms, large parks, etc) . It also has good street visibility and presence as well as good ingress and egress. We also prefer a drive-thru when possible.
What are the ongoing fees paid to Smoothie King?
Franchisees pay an ongoing royalty fee of 6% of their store's weekly sales. An additional 3% of your weekly sales will be paid into the Smoothie King National Advertising Fund. We also require that franchisees spend an additional 2% of weekly gross sales on local store marketing. Additionally, every location currently pays a technology contribution of $200 per month.
What is the best source for researching the Smoothie King Franchising Opportunity?
Each qualified candidate receives a copy of the Smoothie King Franchise Disclosure Document (FDD), which provides the following information and more: franchisor’s financial statements, copy of the franchise agreement, copy of the area development agreement, list of existing franchisees to contact, cost breakdowns, advertising fees, royalties, and initial franchise fees.
How long has Smoothie King been in business?
Smoothie King was founded in 1973 in New Orleans, Louisiana. By 1989, Smoothie King opened their first franchise location. Read more about the Smoothie King Story .
What demographics does Smoothie King look for?
Our focus is 55% skewed towards women. We are looking for starter families, baby boomers, and established Americans. We offer a premium product, so our guests need to have some ancillary income in order to frequent our locations on a regular basis. Therefore, we try to find locations among the average household incomes, or higher for a given market. We cannot exclude certain areas given the range of our guests overall and, therefore, we do not limit ourselves to a particular set of demographics across the board.
How many team members do I need at a Smoothie King location?
Smoothie King recommends 9-12 team members on staff, with 2-3 in the store at any given time.
What is Smoothie King?
Smoothie King embraces a connected franchise culture that focuses on helping consumers lead healthier lifestyles. We appreciate your interest in our brand and what we do for our communities. Our support team members have provided answers to commonly asked questions below and would be happy to address any additional questions you may have about our unique Smoothie franchise opportunity.
