BASKIN ROBBINS Franchise Startup Cost, Revenue and Profit Margin
Do you the desire to start a Baskin-Robbins franchise? You need to get familiar with this fact and have a peek into what you are delving into.
In the United States, the ice-cream making leader was rated by the Entrepreneur as one of the topmost franchise to buy into in America. It was ranked among the top 10. That is just the major reason why so many entrepreneurs want to know how much is a Baskin Robbins franchise?
But before we go into the details of the information about Baskin-Robbins franchise, investments required and the area size requirements, support programs and training, let us first take a look into the company’s profile.
FRANCHISE INFORMATION ABOUT THE COMPANY
Baskin-Robbins is an American franchise company that specializes in the making of ice-cream and frozen dessert with hundreds of flavours. Their franchise locations are at different parts of the world with about 8,000 franchise units in 50 countries.
The company was founded by Irvine Robbins and Burton Baskin in the year 1945 in California, with their headquarters in Canton, Massachusetts. The company presently serves close to 400 million customers across the world and the number is growing year by year.
IS BASKIN-ROBBINS A FRANCHISE?
Is Baskin-Robbins a franchise? An interested prospective franchisee might want to inquire about this. Yes the company sells franchise and can be considered a franchise, with so many years of experience. They started selling franchises in the year 1948.
WHY YOU SHOULD BUY A BASKIN-ROBBINS FRANCHISE
Before you diversify into any kind of franchise, you might want to consider the economic benefit of such franchise opportunity. Buying into a Baskin-Robbins franchise is quite lucrative with so many benefits, which we will look into as follows:
- The company has 95% brand awareness with popularity among most ice-cream lovers across the United States.
- The company invests so much in advertising their brand, with millions of dollars injected for this purpose.
- As a Baskin-Robbins franchisee you will benefit from a multiple source of revenue: take home, in-store, cakes and beverages.
- You will also be exposed to a world class training and support.
WHO QUALIFIES FOR A BASKIN-ROBBINS FRANCHISE?
The company is seeking for candidates that have the dedication to operational excellence, passion for the customers and also a lover of ice cream. Ideally a potential Baskin-Robbins franchisee is expected to possess:
- An accurate understanding of the brand and a zeal for local promotions/marketing of the franchise unit within their immediate community.
- An ability to put together a team that performs greatly and also dedicated to achieve excellence and as well offer customer’s satisfaction through great service delivery.
- The financial resources to purchase of develop one of multiple franchise locations.
HOW MUCH DOES A BASKIN-ROBBINS FRANCHISE COST?
The Baskin-Robbins franchise cost will be a summation of the investment required, franchise fee, net-worth of the franchisee and also the liquid cash worth of the franchisee.
The initial investment needed to start up a franchise unit with the company is about $95,000 to $400,000 and a liquid cash requirement of non-borrowed money of about $125,000 and also a net-worth requirement of about $250,000.
BASKIN-ROBBINS FRANCHISE FEE
The Baskin-Robbins franchise fee is payable to the company and this will give the franchisee the access to operate under the company’s brand name. The initial franchise fee is $25,000. The franchisee will also need to be prepared for an on-going royalty fee of 5.9% and also an Ad royalty fee of 5.9% of the gross revenue of the particular franchise unit.
TRAINING AND SUPPORT
A franchisee with the Baskin n Robbins Inc will be entitled to trainings to get them prepared for the task ahead. Initial training programs usually run for about 15 days. This will include 5 days of Foundational class, 5 days Dessert making training, both will be held at the Burbank Center for Training located in California.
An additional four days of training in restaurant operations will also be conducted at a designated restaurant with instructors teaching on storage processes, how to serve and package items and products, merchandise, which will eventually be followed by practice on serving guests.
DOES BASKIN ROBBINS FRANCHISE OFFER FINANCING?
Baskin-Robbins Franchise does not offer any form of direct financing to their franchisees. However the company has contacts with 3rd party lending firms that can assist franchisees with the required funds to establish their franchise unit.
Although the company offers 20% incentives off the initial franchise fee to veterans than want to buy into the Baskin Robbins Franchise opportunity
TERMS OF AGREEMENT
The period of franchise agreement is 20 years, the only exception is the Baskin-Robbins Express which is mostly between 5-10 years. Franchisees may renew for another term of twenty years after expiration of the initial term and this will depend on if they are able to meet with company’s requirements for renewal.
HOW TO OPEN A BASKIN ROBBINS FRANCHISE
Once you have been able to meet up with the Baskin-Robbins franchise requirements, the next step you are to take is to forward your application to the company. You can get additionally information via the company’s website: https://www.baskinrobbinsfranchising.com/en/opportunitiesen/opportunities
Once your application has been received, it will be reviewed and then a franchise team from the company will get back to you. The Franchise manager will assist you in establishing your franchise unit and also be of support in getting the best real estate for you to achieve quick success at your unit.