Baskin-Robbins Franchise Costs: Estimated Initial Investment (Item 7, 2022 FDD)
- 1. Initial Franchise Fee: $25,000
- 2. Real Estate Development: $123,000 to $267,000 ...
- 3. Equipment, Fixtures, and Signs: $115,000 to $197,760 ...
- 4. Restaurant Technology System: $1,440 to $15,000 ...
- 5. Licenses, Permits, Fees, and Deposits: $7,000 to $20,000 ...
- 6. Opening Inventory: $5,000 to $8,000 ...
- 7. Miscellaneous Opening Costs: $9,500 to $28,000 ...
- 8. Uniforms: $400 to $800 ...
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What is the cost of 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.
How much can you make owning a Baskin-Robbins?
Baskin-Robbins Franchise Costs How much money can you make with a Baskin Robbins? For single brand restaurants Gross earnings vary ranging from a high of $628,470 for top 25% to $252,631 for their bottom 25% stores.
What is the total cost to start franchise?
How much does it cost to start your own franchise? Franchise startup costs can be as low as $10,000 or as high as $5 million, with the majority falling somewhere between $100,000 and $300,000. The price all depends on the industry, location and type of franchise.
What franchise is the most profitable?
Most Profitable FranchisesAnytime Fitness. Anytime Fitness is a popular gym brand with a low-cost investment and high revenue potential. ... McDonald's. McDonald's franchise program is one of the most established in the fast food industry. ... UPS Store. ... Jersey Mike's Subs. ... Dunkin' ... Sport Clips. ... 7-Eleven. ... Papa John's.
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 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 does a KFC franchise cost?
For non-traditional KFC outlets, KFC charges an initial license fee of $22,500. For traditional KFC franchise agreements, the franchise (or initial license) fee is $45,000 split into the deposit fee and the option fee.
What is McDonald's franchise fee?
McDonald's franchisee applicants must have a minimum of $500,000 available in liquid assets and pay a $45,000 franchise fee. Those looking to launch a new McDonald's franchise can expect to shell out between $1,314,500 and $2,306,500. Existing franchise prices can cost upwards of $1 million or more.
Do franchises pay taxes?
Franchise taxes are paid in addition to federal and state income taxes. The amount of franchise tax can differ greatly depending on the tax rules within each state and is not calculated on the organization's profit. Kansas, Missouri, Pennsylvania, and West Virginia all discontinued their corporate franchise taxes.
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...•
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.
Why does it only cost 10k to own a Chick-fil-A?
The franchisee only pays the $10k franchise fee. Chick-fil-A pays for (and retains ownership of) everything — real estate, equipment, inventory — and in return, it takes a MUCH bigger piece of the pie. While a franchise like KFC takes 5% of sales, Chick-fil-A commands 15% of sales + 50% of any profit.
Does it cost $10000 to own a Chick-fil-A franchise?
While operating a Chick-fil-A restaurant requires a relatively modest $10,000 initial financial commitment ($15,000 CAD in Canada), it requires a holistic commitment to own and operate the business in a hands-on manner. We are in the restaurant industry - the quick-service restaurant industry, at that.
How much does a franchise owner make a year?
According to a survey done by Franchise Business Review involving 28,500 franchise owners, the average pre-tax annual income of franchise owners is about 80,000 dollars.
How do you start your own franchise?
Steps to Start a FranchiseStep 1: Research your options. ... Step 2: Select a franchise that aligns with your business goals. ... Step 3: Create an LLC or a corporation. ... Step 4: Arrange financing. ... Step 5: Talk to the franchisors and franchisees. ... Step 6: Talk to members of your community. ... Step 7: Create a business plan.More items...•
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.
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 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.
What is Baskin Robbins franchise?
Baskin-Robbins provides franchisees with a level of support that stands out in the QSR industry. At both the field and corporate levels, we offer franchisees access to a wide range of experts including business and operations professionals, development and construction managers, and training consultants.#N#Because of our connection to the best practices of more than 5,000 locations worldwide, Baskin-Robbins has proven expertise in providing practical solutions for franchisees. We offer franchisees comprehensive assistance that ranges from assisting you through initial purchasing decisions to providing ongoing, new product training. We provide the information needed to help you grow your business from day one. We provide the tools needed to help you keep your business growing day in and day out.#N#As a Baskin-Robbins franchisee you'll receive support, guidance and comprehensive information from experts who stand ready to assist you. Join America's Favorite Neighborhood Ice Cream Shop!
When did Baskin Robbins rename their stores?
In 1953 they renamed all their stores with the Baskin-Robbins name. Baskin-Robbins is now the world’s largest chain of speciality ice-cream shops, and operate in 49 countries. Burt and Irv developed their franchise model decades ago and it is still used by the company today.
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.
