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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How much money can you make owning a Baskin-Robbins?
2019-2020 Franchise Average Net Sales: $419,003 1- Based on a midpoint investment of $358,085 with estimated profits of $41,900 at a 10% profit margin it would take about 10 years to recoup your investment.
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.
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.
What is the ongoing royalty fee for Baskin-Robbins?
Ongoing fees 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).
Can a franchise make you rich?
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 #1 franchise?
Top 100 Franchises 2022RankNameCountry1KFCUnited States of America27-ElevenUnited States of America3McDonald'sUnited States of America4Marriott InternationalUnited States of America16 more rows
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...•
How much do ice cream owners make?
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.
How much do franchise owners 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.
What is the difference between royalty and franchise fee?
Royalty fees are incurred on a regular basis and are paid in a set timeline (for example, monthly, quarterly or annually). Royalty Fees should not be confused with the Initial Franchise Fee, which is a one-time payment made by the franchisee when the business relationship with the franchisor commences.
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 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 cheapest most profitable franchise to own?
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.
How much do franchise owners actually 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.
How much does a 7 Eleven franchise owner make?
The estimated total pay for a Franchise Owner at 7-Eleven is $140,208 per year.
How much does a typical franchise owner make?
Franchise Business Review reports that the average franchise owner makes around $80,000 per year. However, this number is merely an average, with a wide range of incomes contributing to that mean figure. Let's see how much franchise owners make to see if running a franchise is a smart move.
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 .
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.
Our exceptional Franchisees are the sprinkles to our ice cream. Our ideal candidiate will have
Leadership skills to drive operational excellence and guest satisfaction
Purchase an Existing Shop
Buying an existing shop can offer established sales, staff, systems and community presence.
What is the availability in my area of interest?
Please proceed to the application form to determine if your area of interest is available for new shop development. Please proceed to our Existing Shops for Sale page if you are interested in purchasing an existing shop for sale.
Where can I obtain the Franchise Disclosure Document?
If you meet our preliminary minimum franchisee requirements, the Franchise Disclosure Document will be provided once you submit an online application.
Where do I receive my training?
There is a 3 week training program in Braintree, MA at Dunkin Brands University. Training to include live in-store technical training, instructor-led classroom training, online learning management system, mentoring and skill building.
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.
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.
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.
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.
Who owns Baskin Robbins?
Dunkin' Brands Inc. is owned by a consortium of private equity companies: Bain Capital, The Carlyle Group and Thomas H. Lee Partners.
What is franchise fee?
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor.
How long is a franchise agreement?
20 years. Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease.
Where did Irv Robbins ice cream come from?
Bored with serving traditional flavors like chocolate and vanilla, Robbins began experimenting by mixing fruit and candy into the ice cream. After serving in World War II, Robbins bought an ice cream parlor in Glendale, California.
Do franchisors have in-house financing?
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
How much does it cost to open a Baskin Robbins restaurant?
You must pay the initial franchise fees (“IFFs”) of $25,000 for each Baskin-Robbins Restaurant that you open.
How much is the administrative fee for Baskin Robbins?
A $100 administrative fee is applied to all Baskin-Robbins subleases.
Do you have to reimburse Baskin Robbins for out of pocket expenses?
If you are developing a Restaurant and you or your architect are not prepared for a scheduled meeting when required, you must reimburse Baskin-Robbins for certain out-of-pocket costs.
Who must reimburse Baskin Robbins?
You must reimburse Baskin-Robbins if it is sued and/or held liable for claims related in any way to the operation, procession, or ownership of the Restaurant or the premises.
Does Baskin Robbins audit restaurants?
Baskin-Robbins reserves the right to collect its costs to audit your Restaurant if: (a) a 3% or greater discrepancy is discovered; (b) information has been provided to show a possible violation of the agreement; or (c) the audit is done because you did not send Baskin-Robbins or keep required records.
Can Baskin Robbins change fees?
Baskin-Robbins can change these fees without notice.
