As someone who is looking to start a business, I am uncomfortable with the idea of starting my own business from scratch. I have $500,000 to invest and would like to join a business with a proven track record through a franchise agreement. The franchise that I am looking to invest in is Baskin Robbins. The determinants in my selection revolve around several factors such as the financial requirements such as the initial investment, net-worth requirement, and liquid cash requirement. The initial investment ranges from $90,350-$396,100 mainly depending on the size of your shop. The net-worth requirement is $250,000. Baskin Robbins is an ice cream shop, in the Food and Beverage Industry, who specializes in serving desserts such as the company’s
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The asking price for my Baskin Robbins’ kiosk is $100,000, which happens to include a 10-year franchise term and discounted royalty rates for the first 3 years (0%, 0%, and 1.9%) and an advertising fee of 5%. I will find a suitable space to lease that is 500-1000 square feet. For the 500 square foot space, $60 per square foot, which will equal to $30,000 ($2,500 per month). The 1,000 square foot space will equal to about $60,000 per year ($5,000 a month). Signing the franchise agreement and acquiring the space suitable for your shop is one thing, however, actually building up the space is another. The interior designer, architect, and engineer will cost about $16,000. As big of a company that Baskin Robbins happens to be, they have their own personal interior designer and well as their own architect. The leasehold will be $60,000 ($2,500 per month). The equipment and build out will be $45,000. The computer, hardware, and software will be $10,000. The insurance and other prepaid expenses will be
The asking price for my Baskin Robbins’ kiosk is $100,000, which happens to include a 10-year franchise term and discounted royalty rates for the first 3 years (0%, 0%, and 1.9%) and an advertising fee of 5%. I will find a suitable space to lease that is 500-1000 square feet. For the 500 square foot space, $60 per square foot, which will equal to $30,000 ($2,500 per month). The 1,000 square foot space will equal to about $60,000 per year ($5,000 a month). Signing the franchise agreement and acquiring the space suitable for your shop is one thing, however, actually building up the space is another. The interior designer, architect, and engineer will cost about $16,000. As big of a company that Baskin Robbins happens to be, they have their own personal interior designer and well as their own architect. The leasehold will be $60,000 ($2,500 per month). The equipment and build out will be $45,000. The computer, hardware, and software will be $10,000. The insurance and other prepaid expenses will be