How to open a Smoothie King franchise?
- Ensure you have adequate capitalization. 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. ...
- Assess market availability. ...
- Submit your application. ...
- Receive approval & opening your Smoothie King franchise. ...
Full Answer
How much does Smoothie King franchise cost?
Smoothie King has the franchise fee of up to $30,000, with total initial investment range of $269,550 - $845,985.
What is the history of Smoothie King?
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.
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?
What are Smoothie King Drinks?
As a fast-food alternative, the drinks at Smoothie King are intended to help people meet their dietary needs and goals. First opened in 1973, Smoothie King was one of the United State's very first smoothie locations. By 1988, they began to franchise. It now has over 1,000 locations in the U.S. and internationally.
How much does it cost to open up 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.
How much does a Smoothie King owner make a year?
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 owner make?
It is estimated that based on average net revenue of $1,009,803 and a profit margin of 15%, the average tropical smoothie franchise owner salary/ compensation is $126,000 per year.
Which franchise is easiest to get?
12 best low-cost franchises for aspiring business ownersCruise Planners. Franchise fee: $10,995. ... Fit4Mom. Franchise fee: $5,495 to $10,495. ... Chem-Dry. Franchise fee: $23,500. ... Jazzercise. Franchise fee: $1,250. ... Stratus Building Solutions. ... SuperGlass Windshield Repair. ... Mosquito Squad. ... Pillar to Post Home Inspectors.More items...•
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...
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 does an average Smoothie King make?
Average Smoothie King hourly pay ranges from approximately $7.25 per hour for Performer to $23.37 per hour for Development Coordinator. The average Smoothie King salary ranges from approximately $23,000 per year for Restaurant Staff to $96,708 per year for Construction Manager.
Are smoothie places profitable?
Are Juice Bars 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.
Who are 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.
Can you buy a franchise with no experience?
There is no prior entrepreneurial experience needed. In fact, one of the main reasons many people buy franchises is because the franchisor offers training, support, and expertise that can fill the gaps in your knowledge or experience.
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...•
Which franchise is best with low investment?
List of Best Low Investment Franchise Businesses in IndiaPMKVY. The Skill development and entrepreneurship Ministry of the Indian government-run the Pradhan Mantri Kaushal Vikas Yojna (PMKVY). ... KidZee School. ... 3. Cafe Coffee Day. ... Shoe Laundry. ... Jugnoo. ... Dominos. ... Carz SPA. ... Amul Ice Cream.More items...•
How much is Smoothie King worth?
In the late 2010s, the company was focusing on whole and unmodified ingredients. Smoothie King Franchises, Inc....Smoothie King.Trade nameSmoothie KingRevenueUS$415.7 million (FY 2018) $372.5 million (FY 2017)Websitewww.smoothieking.com8 more rows
Who is the Smoothie King CEO?
Wan Kim (Jul 2012–)Smoothie King / CEOThe October issue of Entrepreneur Magazine features an 8-page spread on CEO, Wan Kim, discussing his journey with Smoothie King and his evolution to rise above origins and to refuse what society deems ...
How do I start a smoothie truck?
We've created a 9-step juice bar guide to help you get started.Choose a Juice Bar Concept and Brand. ... Write a Juice Bar Business Plan. ... Obtain Juice Bar Funding. ... Choose a Juice and Smoothie Shop Location. ... Obtain Permits and Licenses for Your Juice Shop. ... Juice Bar Equipment and Supplies. ... Hire Juice Bar Staff.More items...•
How many Smoothie King Franchises are there?
Number of Smoothie King stores in the United States in 2022 There are 1,136 Smoothie King stores in the United States as of October 13, 2022. The state with the most number of Smoothie King locations in the US is Texas, with 268 stores, which is about 24% of all Smoothie King stores in the US.
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 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.
Is Smoothie King a franchise?
Are you looking for an exciting business opportunity that will allow you to work for yourself while helping people live healthier lifestyles? Welcome to Smoothie King! We are the world’s largest smoothie brand and offer an exciting franchise opportunity for you.
Who is the CEO of Smoothie King?
Watch Smoothie King CEO Wan Kim as he goes undercover to see what working at Smoothie King is really like!
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). *
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.
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.
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.
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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.
What does absentee ownership mean?
Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations.
What is 3% advertising fee?
3%. Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts. What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide.
How did Steve Kuhnau get better?
Once he began eating fresh foods and cutting fat out of his diet, Kuhnau started feeling better. His next task was to find a way to tackle ...
What is exclusive territory?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What is a military discount?
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
How long is a franchise agreement?
10 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.
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 .
Do you offer in-house financing?
We do not have an in-house financing program, but we are currently registered with the SBA and have relationships with various finance vendors.
Do you help me find a location?
Our real estate team members provide general site selection criteria and guidance in the selection of a suitable location for each market.
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.
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 type of training do you provide?
Each franchisee receives one day of orientation (pre-store opening), 11 consecutive days of management training (at corporate training facility) prior to opening, and five days of on-site training (three days prior to opening and two days after opening).
