How much is a Quiznos Franchise
A Quiznos franchise is a type of food franchise that is widely popular especially in the United States and Canada.
According to record, more and more people want a franchise of this famous restaurant.
From a series of readings in the Internet, it can be concluded that the financial requirements of a Quiznos franchise is challenging. The financial requirements depend on the region it is built and on the size of the establishment where the would-be Quiznos franchise will exist.
To begin the operation of a traditional Quiznos restaurant, you need initial investments ranging from as high as $204,355 to as higher as $337,985. This, as mentioned in the previous paragraph, depends on the region where it is built and the size of the would-be restaurant. The initial investment covers all costs and important fees, including the franchise fee, the hiring of architects to help conceptualize the building structure, and even the would-be franchisee’s initial food order of one of the most enjoyable foods in the globe. Aspiring Quiznos franchisers can review the Franchise Disclosure Document of the said food company for more details regarding financial matters.
There are some more financial requirements to be met before one becomes capable of buying a Quiznos franchise. One needs a very high credit score 670 credit points and a net worth of $125,000. As part of the net worth criteria, $70,000 worth of liquid assets such as cash or stocks which can be used to invest in the wide restaurant franchise opportunities. Credit score is defined as a number based on statistics of a person's credit files, to represent a person’s trustworthiness in terms of handling credit. If an individual has bad credit profiles, he or she will have difficulty in getting the necessary credit points for the Quiznos business. Net worth is defined as the person’s total assets minus his total debt. For the computation of the total depth, we need to get the total amount of his properties, etc., and subtract it by the sum of his debts and liabilities.
According to the Quiznos site, a $12,500 franchise fee is required to purchase one Quiznos franchise. When the matters about the site and lease are approved, a financial requirement of $40,000 for depositing purposes sets in. The $40000 requirement covers the pay for the architects hired and the equipment used. The three payments previously mentioned sums up to $70,000. The remaining costs which are not mentioned here should be shouldered by the franchise owners themselves.
There are also payments in royalties which are explained in the Quiznos site. Royalties account for 7 to 8 percent of the gross sales of the franchise. Royalties are paid weekly. There are other financial requirements which, again, can be checked on the Quiznos policies located at the Quiznos site.
An Internet page in franchisepundit.com features the financial statements of a Quiznos franchisee. The financial declaration featured the expenses of a Quiznos franchisee. If the conclusion is base on that page on franchisepundit.com, we can say that owning a Quiznos franchise is expensive, but applying the proper techniques in managing and running the business will turn the profits up.