Caribou Coffee Franchise Information
The caribou coffee offers the world’s best hand crafted coffee in the coffee and offers its franchise in territories all around the United States.
The Caribou Coffee Development Company was incorporated in 2004 and started franchising in 2006.
It holds headquarters in Minneapolis, Minnesota and sells teas, coffees, sandwiches, baked goods and other food items in its franchise stores.
Caribou Coffee considers licensing with operator companies or food service contractors that are stationed in high traffic venues such as large destination retailer locations, hotels, hospitals, stadiums, entertainment venues, travel plazas, grocery stores, universities, airports and other densely populated areas. Caribou Coffee is looking for highly qualified franchise applicants that have a passion for business and the coffee market. These applicants should have a proven track record of successful multi-unit restaurant development and operations, have the administrative infrastructure and operation necessary to bring the brand to a new market, have expertise in sourcing and developing retail real estate spaces in the densely populated areas they wish to franchise in, commit to the development plan with a minimum of ten stores, depending on the market area. Also, under agreement it is important that the developer of the franchise must appoint a member, partner, shareholder or managing owner that will be responsible for managing and overseeing the development of the Caribou Coffee, Coffee houses.
The financial requirement necessary to develop a Caribou Coffee outlet and brand are at least $400,000 per store in net worth either individual or in a partnership, $100,000 per store in liquid assets also either individual or in partnership. If after review of the franchise requirements, you believe that you meet the qualifications, you may not submit an inquiry directly to their support team. After the inquiry you will be able to determine the territories available within and outside of the country and from there base your expenses and the final franchise agreement.
Other fees are the royalty fee of 5% and the advertising and marketing fee of 2%. The successor license is the difference between the then current initial license fee and the initial license fee paid, additional training or assistance is at $1,000 per day plus expenses and transfer is at $5,000. Late fees is 10% of the original amount due but not paid on time, plus bank charges, the operations manual is at $1,000 and indemnification and costs of attorney’s fees will both vary under the circumstances. Insurance is at $200 to $500, miscellaneous opening costs at $200 to $2,000, additional funds at $7,000 to $25,000 and the total initial investment is around $331,200 to $674,500.
After approval of the franchise application and upon signing of the agreement, the training program ensures. This training program consists of roughly 4-6 weeks of on the job and classroom training, in which a shift supervisor, operator and store manager must complete to a satisfactory level.
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