Open a Monster Mini Golf Franchise
Monster Mini golf is a miniature 18-hole golf course featuring glow in the dark monster themed courses.
Mini golf has never been more scarily exciting, fun for the whole family.
Monster mini golf course is an exciting indoor experience for adults and children alike. Aside from its courses, you can also enjoy its family arcade filled with many exciting arcade games with redeemable award tickets for prizes.
Because of its growing success in the family entertainment sector, Monster Mini Golf has opened its franchise to the nations. Founded in 2004 and franchising since 2005, the Monster Mini golf has 20 franchises in the United States. The franchisor has 6 employees and 6 in the franchise department.
As per costs and fees, the total investment required is $336,000 to $404,500, with a franchising fee of $30,000 and an ongoing royalty fee of 7% with a 5 year renewable term of agreement. Qualifications for application are a net worth requirement of $404,500, cash liquidity requirement of $30,000 and preferable business experience which is inclusive of hospitality skills. Other fees broken down fully include the real estate and lease deposit of around $15,000 to $30,000, leasehold improvements of $50,000 to $80,000, architectural plans of $3,000 to $5,000, insurance deposits of $2,000 to $4,000, other equipment charges of $6,000 to $8,000, the point of sale system of $6,000 to $7,000. Training and travel and living expenses while training fees are at $2,500 to $3,500 and the signing is around $6,000 to $8,000. The Golf course build out package fee is around $176,000, operating supplies $7,000 to $8.000, grand opening advertising at $5,000, miscellaneous fees of $5,000, legal and accounting fees $2,500 to $5,000 and additional funds and working capital of around $20,000 to $30,000.
As per operations, there is a minimum number requirement of 6 employees per franchise unit. Also, absentee ownership of franchise is not allowed and all current franchisees are owner/operators.
There are several factors one can benefit from becoming a Monster Mini golf Franchise owner, one of which is the fact that this franchise may be purchased for no money down. Also there are several sections in the franchise agreements that are negotiable, and this includes arbitration clause, cross-default provisions, non-compete agreement, personal guarantee, and favorable valuations for corporate buyout and default cure periods. Also, fewer royalties may be negotiated at start up as well as other fees including the advertising fees. If you are interested in having more than one franchise then you have the option for purchasing multiple franchises for a discounted fee.
Training is available at the headquarters for 2 to 4 weeks and at the franchisees location for two weeks. Ongoing support is inclusive of regular meetings, assistance and aid at the grand opening, internet support, security and safety procedures, field operations and evaluations and purchasing cooperatives. Marketing support includes co op advertising, ad slicks and regional advertising and other marketing support includes website development.
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