What Are The Benefits Of A Franchise
Whether youre thinking of opening a restaurant, copy shop, elder care service or cleaning company, signing an agreement to work with a franchiser can save you many headaches and jump-start your business. Understanding the benefit of franchise agreements helps you decide whether the possible loss of personal profits and freedom is worth the arrangement.
Is Smoothie King Franchise Eligible For An Sba Loan
Smoothie King is eligible for SBA loans including the 7 loan. To find out more about the SBA loan program for franchising click here.Smoothie King franchise was assigned the SBA Franchise ID of S1591 on 10/01/2017. This DOES NOT mean the SBA endorses this franchise. The SBA Franchise Directory will only include business models like Smoothie King that are reviewed and found eligible under SBAs affiliation rules and other eligibility criteria. Currently, there are over 7,000 franchise opportunities that the SBA has deemed eligible for SBA financing.
How Stable Is Tropical Smoothie Franchise Development Corporation
The FDDs raise a few additional red flags. The first is the financial stability of the franchisor, Tropical Smoothie Franchise Development Corporation. The 2011 Tropical Smoothie Cafe FDD states:
The 2012 Tropical Smoothie Cafe FDD states:
OUR DECEMBER 31, 2011 AUDITED FINANCIAL STATEMENTS SHOW THAT WE HAD A RETAINED EARNINGS DEFICIT OF $4,702,096 AND A DEFICIT IN SHAREHOLDERS EQUITY OF $4,518,661
Not only does that indicate that the franchisor appears to be in poor financial shape, but that it worsened by nearly $1.5M from 2010 to 2011. Minnesota requires the escrow of franchise fees due to the Franchisors financial condition.
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How Do I Price My Juices
That being said, a retail store that sells bottled juice can achieve a lower food cost, and should strive for 20% ? 25% average food cost for organic juice. This means that if the juice is selling for $10.00 / bottle, the cost of the actual produce that goes into the juice should cost no more than $2.50, on average. Thereof, are juiceries profitable? A juice business or restaurant selling juice direct to consumer can expect about a 50% ? 70% gross margin if careful planning is done when developing the recipes.
What Is The Smoothie King Franchise For Sale Rate
The Smoothie King systemwide health and franchisee satisfaction can be measured by the Smoothie Kingfranchise for sale rate. The franchise for sale rate is calculated by the percentage of units transferred to new franchisees and reacquired by franchisor.Smoothie King franchise for sale rate over the past 3 years is 17%. Over the last year we have data for, Smoothie King had a franchise for sale rate of 6%.Without a comparison, this number doesnt mean much. Compare how the Smoothie King franchise for sale rate compares to 2,000+ other franchises and Industry franchises like Smoothie King. More info in the Smoothie Kingmetrics tab.
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Fdd Talk: How Much Does A Junk King Franchise Make
In this FDD Talk post, youll learn the following: Section I Background information on the Junk King franchise opportunity, including relevant news updates Section II Estimated initial investment for a Junk King franchise, based on Item 7 of the companys 2021 FDD Section III Initial franchise fee, royalty fee, marketing fee, and
Smoothie King Franchise Information
If you are ready to become a Smoothie King franchisee, please complete our Online Contact Formand a member of our Franchise Development team will be in touch.
Your information is being collected so that we may contact you regarding your interest in a Smoothie King franchise. We do not share your information with any outside parties unless you specifically authorize us to do so.
*20% is the average EBITDA for the top 25% of traditional franchise units that submitted compete profit and loss statements to us and were in operation for the entire calendar year ended December December 27, 2021. There is no assurance , however, that you will do as well. See Item 19 of the Smoothie King® Franchise Disclosure Document for more information.
**$907,346 is the average gross sales of the top 25% of all traditional franchised units in operation for the entire calendar year ending December 27, 2021. Of the 220 units included in the average gross sales for the top 25%, 84 units met or exceeded the average gross sales.
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What Is Smoothie King Know For
Smoothie King is a unique concept that serves the industrys first healthy fruit and function-based, freshly blended Smoothie.
Its menu also includes sports beverages, nutrition snacks, energy bars, herbs, minerals, and so on.
They promise that their smoothies are 100% non-GMO fruits and veggies and contain no trans-fat, hydrogenated oils, and gluten.
They always use organic and fresh vegetables and fruits, making it the best option for health-conscious people.
Smoothie Kings menu has many delicious and healthy drinks, including:
- 72% success rate for franchisees
Hire Staff Set Up And Open
Hire the staff and arrange for the next segment of training. Smoothie King provides seven days of training in your store before opening day. They cover the business topics related to operational and marketing practices, such as conducting nutritional classes for guests. You get hands-on practice running the smoothie bar and the sales area.
Open your new franchise and take advantage of Smoothie Kings continuous training and support program. The knowledge and support they provide will help you to earn a profit.
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Is Smoothie King Healthy
Smoothie King might not be the first place that comes to mind when someone says keto or diet. However, that does not mean that everything they serve is unhealthy. The joint has a lot of dieter-friendly options that are low on sugar and fats. These drinks serve as a great pick-me-up in the middle of the day, when you feel down. They help energize you, but they also help you feel satiated without being too unhealthy. So now, let us take a look at the nutritional content of some of the healthiest smoothies in Smoothie King
How Much Does A Smoothie King Franchise Cost
Founded in 1973, Smoothie King has become the No.1 smoothie bar in the United States that helps people live healthier lifestyles. The company started franchising opportunities in 1988. So, if youre looking for an exciting business, learn more about the Smoothie King franchise cost and terms here.
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Juice Franchise Vs Independent
Should you start a juice franchise or start an independent concept? Theres no right or wrong answer on this one. This will depend on your goals and preference.
Key advantages of operating a franchise smoothie business is that you get to leverage an existing brand, systems, processes and supply chain. Ideally, youll already have a built-in customer base that knows how you are and what the menu is.
Generally speaking, however, Andrew does not recommend enrolling in a franchise juice opportunity. One big reason is because youre creating extra overhead to your business in the form of franchise fees, royalties and sometimes being stuck buying supplies from a specific supplier that is high cost.
By creating a juice brand, you retain the upside of being able to create your own franchise opportunity in the coming 5 10 years. Youll have less overhead and have the flexibility to change suppliers, menus, or brand positioning if needed. Andrews consulting company helps new juice / smoothie entrepreneurs establish a new business with the benefits of enrolling in a franchise without the ongoing costs and other downside of this approach.
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Smoothie King Is Terrible For You
Camille Lamb GuzmanDecember 4, 20138:30AM
Not long ago, I set foot in my first and last Smoothie King. At the time, I was a smoothie-making fiend in my own home, gulping down bags of expensive organic frozen berries like flappers guzzled bathtub gin. So I was psyched when I walked through the door of this nutritional lifestyle center at 14200 SW Eighth St. to see the reasonable prices on immense fruit smoothies.
A 40-ounce blueberry smoothie for just $8? Wow. Yes, 40 ounces of anything is probably going a bit overboard. But this wasnt beer or steak. And considering blueberries are one of the most nutrient-dense fruits on the planet, are insanely high in antioxidants, and might even prevent and reverse age-related mental decline , this seemed like a delicious, health-boosting offer I couldnt refuse.
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Smoothie King Near Me
Please, search Smoothie King Near ME locations from the map below. if you find your nearby Smoothie Kinglocation, click on the map shown below and nearest Smoothie King location around you will automatically pop up on your map. Also, use this store locator tool to find Smoothie King near me.
You can also get the Smoothie King Near Me Now through Embed Map / Smoothie King Locator. If you use Smoothie King locator to find the Smoothie King Locations.Just enter your areas zip code & find Smoothie King Near My Location.
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Smoothie King Franchise Fee
Smoothie King franchise fees are an Initial fee of $ 15,000 for non-traditional locations, and for other locations, this fee can go up to max. $ 30,000. The ongoing fees that each franchisee must pay every month are 9% of gross revenue .
Smoothie King is a member of the Vet Fran program, which means that all active members of the U.S Armed Forces and those who are honorably discharged have the right to a 20% discount off the initial fee.
Also, franchisees who are police officers, firefighters, and hospital employees with 10 or more years of experience have the right to a 20% off discount to Smoothie Kings initial fee.
The initial franchise fee is paid after the franchise agreement has been closed.
The ongoing fees must be paid regularly every month regardless of whether the franchise facility is profitable for its owner or not. If these fees are not paid regularly, the franchisor can nullify the franchise agreement.
Other Smoothie King franchise fees are the Technology fee of $ 200 per month and the Design fee of $ 2,500. The design fee is a one-time cost.
Also, we must include the Smoothie King franchise POS System fee in this list, which costs between $ 2,250 and $ 4,490. This is a one-time cost, and after it is paid, the franchise facility will be equipped with the billing system that every facility of this type must have.
Smoothie King franchise one time and ongoing fees:
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Tropical Smoothie Caf Terminated/reaquired 67 Franchises Between 2008
The relatively high franchise termination rate of Tropical Smoothie Café is a franchise red flag.
|Tropical Smoothie Café Franchises 2008-2011|
|Franchises open January 2008:|
|Sources: Tropical Smoothie Franchise Disclosure Documents|
At the start of 2008, there were 244 US Tropical Smoothie franchises. From 2008 through 2011, an additional 124 franchises opened for a total of 368 franchises. During the same time 67 franchises were either terminated or reacquired by the franchisor. At the beginning of 2012, there were 301 Tropical Smoothie franchises open in the U.S.
That would come out to a termination/reaquisition percentage of 18%, which could reasonably be called a failure rate. Perhaps the company can clarify.
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What Are The Biggest Franchise Disadvantages
Although the risks of running a franchise are lower than that of running a traditional business, franchising still involves signing a formal agreement with the franchisor. Moreover, there is little room for creativity, as the franchisor dictates the terms of the lease.
A franchisee can also often feel powerless, as poor performance by other outlets can hurt the business. Finally, the franchise revenue has to be shared with the franchisor.
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Average Smoothie King Franchise Startup Cost
Franchising Smoothie King will allow you to retain a business that sells smoothies and nutritious drinks. And not just drinks, Smoothie King also offers nutritional products in general. You will be given a chance to sell their original smoothies that consist of natural and real fruits blended together, pure fruit juice, and pure vegetable and fruit purees. These natural ingredients will be combined with nutritional supplements and any other meal replacement that is customized personal order. Smoothie King also sells nutritional retail merchandise such as minerals and vitamins, herbs, healthy snacks, and much more.
So how much does Smoothie King Franchise Cost? Before you can franchise one, you are required to qualify the criteria set by the company. For Smoothie King, their financial requirements are:
- You should have at least $300,000 net worth to open 1 Smoothie King store and,
- You should have at least $100,000 liquid asset to open 1 Smoothie King store.
If you qualify all of the given criteria, the next thing you will need is the initial investment. According to Smoothie King itself, the total Smoothie King franchise cost will run around $188,000 up to $414,000. And as usual, the total cost depends on many factors. Here is the breakdown of the total cost:
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B Statement Of Average And Median Annual Net Sales Percentage Increase For Units
- Part B below includes the average and median Net Sales percentage increase for Units based on a comparison of Net Sales for Units open for a comparable period in both years.
- Partial years are included in the calculation for example, if a Unit was opened on October 1, 2018, there would be three months of sales from both years included in the 2019-versus-2018 comparison.
- The information disclosed includes only Units scheduled to be open daily during the reporting period, or were closed for less than an 8-week period during each calendar year.
- Of the total number of Units listed for each comparison year in the table below, all reported sufficient financial performance information to be included in this financial performance representation.
2020 vs. 2019
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How Much Does A Smoothie King Franchise Owner Make
Smoothie King franchise earnings and revenue can vary significantly from one franchisee to another.The Smoothie King franchise owner profits can be influenced by labor costs, lease rates, hours worked as well as other factors.Smoothie King discloses financials at the unit level. In other words, they show how much Smoothie King franchisees made in the past. Through analyzing this information available in the metrics tab, it can serve as a good basis to further explore the opportunity or not.At Vetted Biz, we advise you to speak with 5 to 10 franchisees to understand how much money they are making from the Smoothie King franchise. Roughly 60% of franchises disclose financials and it makes the process easier when filtering potential franchise opportunities like Smoothie King. Dont just speak to existing franchisees, call franchisees who have recently left the system and try to find out how much those Smoothie King owners were making.Visit the Smoothie Kingmetrics tab to explore the financials for this business.
And Another Question Is Making Your Own Smoothies Cheaper
If you were to buy a smoothie every day for lunch for a week it would be upwards of $25! Making it at home will save you $14 a week. Thereof, how much does it cost to make a green smoothie? How to Make a Green Smoothie is easier than you think! This recipe takes 5 minutes, serves 6, and costs just $4.75 to make. Thats only $0.80 per serving!
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The experience of owning a campground is incredibly rewarding. You can be your own boss while you are busy. Cash businesses include campgrounds, RV parks, and resorts. As you learn to manage a campground, give yourself some time.
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Franchise Facts: A Investing Entrepreneur Should Know In 2022
From going to an office to grabbing a bite of food, we interact with franchisees on a daily basis.
However, there are many hidden facts that you might not know about these franchises.
In this article, we will discuss the Franchise facts of 2022 which will be helpful for you and your business.
The facts will give you a vision for doing your business and will also help you make a strategy for the future. So, lets begin.
Why I Sold My Subway Shops To Open A Smoothie Franchise
Franchise Players is Entrepreneurs Q& A interview column that puts the spotlight on franchisees. If youre a franchisee with advice and tips to share, email.
Linda Morgan is a franchise industry veteran. She began working in the restaurant business at age 16 as an hourly employee at Burger King. In 1990, she and her son-in-law opened their first Subway location. Today, however, theyve sold their Subway shops and turned to Tropical Smoothie Café. Heres why they decided to make the switch from sandwiches to smoothies, and what theyve learned during their decades in the franchising business.
Name: Linda Morgan
Franchise owned: Tropical Smoothie Café, with 14 locations across Alabama, Florida and Georgia
How long have you owned a franchise?
Ive been in franchising since 1990, when my son-in-law, Russ Rissman, and I opened our first Subway location. After selling all our Subway stores, we became Tropical Smoothie Café franchisees in 2011.
While some mom-and-pop shops are successful, many of them fail. Its difficult to go out on your own. You have to come up with a product and market it something not everyone is fit to do. We knew we wanted to have multiple locations and it would have been much more challenging to do that if we had not have had the backing of a proven business model like Tropical Smoothie Café.
What were you doing before you became a franchise owner?
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