Starting a Pinch a Penny Franchise
The Pinch a Penny company specializes in retail swimming pool supplies as it provides a variety of pool and spa care product lines as well as the expertise needed to utilize them wisely.
Pinch a Penny stores offer complete lines of maintenance equipments, parts and accessories and the essential pool chemicals of various product lines.
The brands which proves a competitive advantage to the company. It is the leading brand of swimming care stores and also a one stop shop for everything and anything one will need for care, maintenance and further utilization comfort of swimming pools and spas. The company is based on a unique and proven concept wherein the expertise that comes with the proper use of products and services becomes the source of advice which many pool owners are now dependent on. The business is especially thriving on warmer days and the franchises usually put in longer hours when this occurs, as the best kinds of retail businesses are those that are able to quickly adapt to the demands of the public, especially since it is these demands that bring the company to even greater success.
The business was established in 1975 and started franchising in 1976 and is currently expanding its franchise units throughout the Florida region, considering Florida is well known as having the second highest number of pool owner, with a strong growing population with perfect climate for poolside living means great investment returns and successful business growth for the franchise. There are currently 204 franchised units with 2 company owned units. The combined market continues to grow as more and more private pools and business spas appear in the vicinity.
The Pinch a Penny franchise offers the people an invitation for the entire family to create a positive change in lifestyle while working with the company. One will be able to take advantage of working hand in hand with one of the largest pool and spa care companies in the world. The financial requirements include the investment of the minimum net worth of $250,000, initial cash investment of $150,000 to $350,000 and an average total investment of at least $250,000. Fees include the initial franchise fee of $37,500, average franchise fee of $37,000, ongoing royalty fee of 6%, average royalty fee of also 6% and an advertising fee of 4%.The preferred sites of the business are in the strip center, and the required space needed in square footage is around 1,500 to 2,500.
The term of initial contract is valid for 5 years and the term of renewal period is 20 years. Passive ownership, area development agreements and sub franchising contracts are not allowed yet franchisees are allowed to expand within the territory.
Support and training offered is from the International Franchise association. Site selection assistance and lease negotiation assistance is also available. Marketing support is inclusive of regional advertising and marketing materials which include coupons, rebates, direct mailers, brochures, radio ads, promotional items, site signs, aid in the grand opening, online extranet as well as in house marketing. On going support includes central data processing, field operation evaluation, central purchasing, field training, initial store opening, 800 telephone hotline and regional or national meetings.
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