Owning a Planet Beach Franchise
Planet Beach Franchise is among the well-loved tanning salon. With its growing network of clients, it has accepted franchisees to further expand their locations.
Stephen Smith started his tanning salon in 1995. He called it “Electric Beach”.
It was located at New Orleans, Louisiana. It eventually became a big hit in its location. After some time of thinking things over for his business, he felt that the name needs some more improvement. And so he changed its name into Planet Beach. Its philosophy is to make its customers look good and feel good about themselves. The company is continuously growing as it heightens the awareness and care for the beauty, health and fitness of its clients. The Planet Beach Contempo Spa is very well known for being such a relaxing place to be in to. And with its growing number of clients that keeps going back for more of their services, Planet Beach opened its doors for interested franchisees since 1996.
Planet Beach is seeking franchisees nationwide and worldwide. A franchisee must be able to invest a total amount of money in this business amounting to at least $197,000 to $399,000. If the company found you to be qualified, you will be asked to sign an agreement which contains all of the terms and conditions for acquiring a franchise unit. In the agreement come the several financial responsibilities that you must pay up to. The first of it all is the franchising fee. You will pay them a franchising fee to be able to operate a business using the name and reputation of the company. For Palm Beach, you must pay them at least $30,000 as the franchising fee. Another payment expected from you is the on-going royalty fee. The on-going royalty fee pertains to the share of the owner and founder of the company in your own earnings. That is so because you are making use of their name and reputation to earn profit in your unit. And that advantage among other businesses must be credited to the main company itself. Now, for Planet Beach they are asking for 6% of your total sales as the ongoing royalty fee. The contract that you have signed with the company is valid up to 10 years. But once it expires, you can still renew your contract with the company.
For you to be a qualified freelancer, you must be able to present proofs of your net worth to establish trust between you and the company. Your net worth must at least be $250,000. You will also be asked for liquefied cash that is at least $60,000. And as a person entering a business venture, you must be equipped with enough skills and experience needed in the business. You must have a general business experience paired with excellent marketing skills. If you passed the qualifications and requirements that are asked from you, then you must be ready to start your business with them.
You will need to employ at least four workers in your unit to start operating. If you think that you can still handle another profit earning unit, then you may do so. The company allows its franchisees to have more than one unit. As a matter of fact, 25 percent of its franchisees own more than one unit. Also, if you are worried that you may not be able to handle the company well, you will be sent for training in different locations. For 5 days, you will be trained in their headquarters. Another 5 days of training will be spent in your location. And as you go through your business unit, you will still be trained continuously.
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