Starting a Breadsmith Franchise
Breadsmith is a franchise company that deals with the production and selling of high quality bread.
Breadsmith is one franchise that a businessman or woman must consider if he or she loves baking breads.
History of Breadsmith
In choosing your franchise company, it is important to know its history and background. This will provide you an insight on what kind of company your franchise will be. Dan Sterling is the owner of Breadsmith. During Dan Sterling’s study in Norway, he had his first taste of the delicious European bread. This urged him to do business involving the production of not only European bread but also different types of bread. Sterling is a graduate of Harvard Business School. After his graduation, he volunteered in a local bakery to help them with their accounting, he then decided to open up his very own bakery in 1993 and called it Breadsmith.
Cost and Fees
The franchise fee for a single franchise of Breadsmith is $30,000 and the total investment is from $240,000 to $320,000. There is also a royalty fee of 7 to 5%. The term renewable and is valid for fifteen years.
Requirements and Qualifications
To be able to qualify as a franchisee of Breadsmith, you should meet the following requirements:
- Your net worth should be at least $500,000.
- The required cash liquidity is at $50,000.
- It is an advantage to have general business experience.
- Marketing skills is not necessary but useful.
There are several ways on how to complete and submit an application form, one of which is downloading the actual form and filling it up with the necessary information. You can download the actual form from Breadsmith’s website. Alternatively, you can fill-out and submit an online application form.
After submitting your application, you will then have a phone interview with one of Breadsmith’s representative. The representative is a senior executive of the franchise company. This will provide you the opportunity to discuss the concerns that are not covered in the printed materials that you have. The main purpose of the phone interview is for you to raise questions with the things you want to know; but it is not only limited to that.
After the phone interview with one of the senior executives of the franchise company, you will then have to spend a day with the company. This process is what the company calls “Spend a day with us”. This will let the two entities know each other better. During the visit to the main store, you will have the opportunity to ask members of each department to enrich your knowledge in the bread-baking industry.
Training and Support
Before your store’s grand opening, you must first complete a 3-week initial training program. In this program you will learn the things you should know in running your own Breadsmith franchise.
After accomplishing the initial training program, you are then ready to open your very own Breadsmith store.
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