Adam and Eve Franchise Startup Cost, Profit & Opportunities
Adam and Eve is a famous store brand known for its niche-focused products and services.
Its business caters to the adult industry with product categories like lingerie, adult products, and DVDs. If this is the type of franchise you wish to join, you’ll need all the information required.
This article caters to such needs as it discusses the processes involved in the ownership and the requirements.
You’ll find information on franchise costs, training & support, steps to joining, and other relevant details that will make your application process much more comprehensive. With that said, let’s proceed.
About Adam and Eve
The story of Adam and Eve can be traced back to over four decades ago when two friends, Phil Harvey and Dr. Timothy Black, began promoting birth-control devices through non-medical channels.
The business gradually morphed into providing American adults with carefully selected material by mail.
With a growing business, Adam and Eve sought to broaden its reach, hence the birth of its franchise program. Since it started, Adam and Eve’s upscale specialty boutiques have been opened across different regions and states.
It serves its ever-growing clientele consisting of couples, women, and men.
Through its franchise program, Adam and Eve have an ambitious plan to grow its retail units from its current number of 67 to about 400 by 2025.
As part of its growth plans, Adam and Eve is registered in all 50 states. This means wherever you live in the U.S., you can seize the opportunity to open your Adam and Eve boutique.
Adam and Eve Franchise Costs
The financial requirements needed to join Adam and Eve’s franchise are varied.
The initial investment sum is around $171,050 to $350,700. This consists of the franchise fee of $30,000. Franchise candidates must also have a minimum net worth of $300,000.
Other key details include a liquid cash requirement of $175,000. Adam and Eve’s franchisees get to pay a royalty of 4 to 5%.
In terms of financing options, this franchisor has an in-house financing provision that covers inventory. You’ll need to inquire for details.
Steps to Ownership
If you’re convinced this is the right opportunity, you’ll need to start the ownership process.
Adam and Eve make ownership a lot easier through its comprehensive 6-step process. These include introducing yourself and completing the LGA (let’s get acquainted) form.
Next, an informal Q&A session and a conference call with Adam and Eve’s franchise development team are scheduled.
Franchise candidates will also have to attend a discovery day, speak with existing franchisees and finally sign the franchise agreement. Let’s briefly discuss each of these steps.
i. Introducing Yourself
To start the process, you’ll need to speak to Adam and Eve’s Franchise Sales Director, Dan Daniel, at 919-504-2099.
He’s highly experienced and has helped tons of franchise candidates get through the application process with ease. Here, you get expert guidance and tips.
ii. Completing the LGA Form
The “let’s get acquainted” form captures your details and presents a profile that the franchise development team assesses to determine your suitability for its offering.
Details required include your name, email, phone number, address, city, state, zip, and where you’d like to open your franchise.
More information required includes information on previous business ownership (if any) and your past experiences (with the business).
More details required include marital status, spouse’s or partner’s name, education, available liquid capital, and existing banking relationship.
You’ll need to provide information on your credit situation, if you’ve had a bankruptcy and why you want to join Adam and Eve’s franchise program.
iii. Informal Q and A and Conference Call Session
This is the stage where an informal Q&A session and a conference call are organized with Adam and Eve’s franchise development team. A lot of questions need to be asked on both sides.
These require satisfactory responses for the process to go on.
You can speak directly to Adam and Eve’s General Manager, Dave Keegan. By the session’s end, you should know whether this franchise opportunity aligns with your investment needs.
iv. Attend Discovery Day
During the ownership process, franchisees get to attend a discovery day at their home office in Hillsborough, North Carolina.
Here, you get to meet the support team, who’ll be involved in helping you run your operations when you join the program.
The discovery day unveils the business, and the opportunities offer you a chance to review the franchise disclosure document (FDD) and expose you to the culture.
v. Speak with Existing Franchisees
Franchise candidates can meet and discuss with existing franchisees already in the system.
Here, you get a wealth of knowledge and insight into how the operations go and if the program is worth joining. You also hear firsthand what it takes to be successful.
vi. Signing the Franchise Agreement
This is the last stage of ownership and requires taking more concrete steps like signing the franchise agreement. You’re officially part of the Adam and Eve family with the contract signed.
Now, training and store opening preparations are made to launch your operations.
Training and Support
Having completed the application and officially recognized as Adam and Eve’s new franchisee, training begins. Here, various areas critical to the smooth operation of the franchise are being covered.
The goal is to equip you with hands-on skills to run your business effectively.
Apart from training, this franchisor offers you all the help and support you need to succeed. Training and education start with a week of hands-on training at its corporate offices in North Carolina.
Areas covered include customer service, operations, merchandising, and inventory management.
Adam and Eve’s field support personnel also hire and train your employees. Support covers selecting an ideal location, layout, store design, merchandising, fixturing, and signage.
Other forms of support include periodic store visits from franchising support personnel, exposure to networking opportunities, marketing initiatives, monthly newsletters, national meetings, provision of a website landing page, and franchise support through the backend intranet system.
Additional Information
Other essential information about this franchise offering includes the fact that it offers master franchise opportunities and also serves as a passive franchise.
Adam and Eve’s franchise offer can’t be classified as a home-based opportunity. Plus, there are no veteran discounts.
Now you have all the essential details you need to start the ownership process. Contact the franchisor using the information provided above.
