Starting Farmer Boys Franchise
Farmer Boys is wiling to provide the wonderful benefits to franchisees once they commit to the company. In order for a franchisee to qualify for a franchising unit, he must be able to possess the qualities and requirements the company is looking for.
Joining Farmer Boys’ franchising network can bring in a lot of benefits for you as well as your employees.
It is known to many that Farmer Boys’ has been in the market for a long time now. It was able to build a good name and reputation in the fast food industry. That is why once you commit into franchising with Farmer Boys’, it is now easy for you to plan on how to make its system work for all of you. If you are starting a business from scratch, there is a tendency that most of your trials in penetrating the market will fail. But in franchising with a business that has already made it through, and now just trying to expand, it is already in a stable position for your starting business venture.
With Farmer Boys’ assisting you throughout your business endeavors with them, finding a perfect location for your business must not be a problem. The company will certainly help you find the perfect spot to build your unit. They will assure you with customers coming in, wherever you will be located. If you do not have enough money to purchase a location right away, the company will ask for a third party to assist to it by buying the location and then lease it for you. That way, you will have more time to save up and pay for the location instead of paying for it directly in full amount.
In case you do not have the relevant skills and experiences in this kind of business, the company will still accept you and have you and your employees go to seminars, workshops, and training where you can get and be certified with al the necessary skills for this business. The trainers are not just anyone that they hire somewhere. They are getting the best employees to work for them, which means all of their trainers are professional so you will be sure to get the requirements hassle-free and in no time.
The company will support you in many ways that they can. And among those are thru financial aspects. It is understandable that most franchisees need boost in their income. That is why, the company is providing many ways on how to help the franchisees in their financial troubles. Certainly, in this fast food business, you will need a lot of equipments and tools for cooking and serving the people. Farmer Boys’ can recommend you to trusted suppliers where you can get special discounts for being the company’s franchisee.
Now that you are able to envision yourself managing this business under your name, it is now time to get to the necessary details to make everything final and legal. First, your investment in this business is amounting to $513,375 and it can still go way up to $795,505. In joining the network of franchisees of Farmer Boys’, you have to sign the contract, which is valid after twenty years. It may be renewed upon expiration. In the contract, the franchising fee is stated. It must be paid immediately upon signing the contract. The franchising fee will cost you up to $45,000. As for their royalty fee, you need to pay them regularly 5% of your net sales.
The franchisee that they need has to have a net worth of $750,000. This must also be supported by his liquid cash that is at $350,000. These financial requirements are important in gauging whether the franchisee is financially stable and responsible enough to save up a substantial amount of money. This must also be complemented by the franchisee’s industry and general business experience. A franchisee must also have good promotional skills that will be important in advertising the business to many people.
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