Looking for franchising opportunities with a successful ice cream brand? Jeremiah’s Italian Ice franchise is one you may want to have a look at. Founded in 1996, this ice cream brand only launched its franchising arm in 2019.
Jeremiah’s Italian Ice Franchise Fee, Revenue, And Profit Margin
Jeremiah’s Italian Ice franchise is seeking to expand its operations by offering franchising opportunities across several states and counting. These states include Alabama, Arizona, Colorado, Florida, and Georgia.
Others are Louisiana, Mississippi, North Carolina, Nevada, South Carolina, Tennessee, and Texas.
As a prospective franchisee interested in this kind of opportunity, there are details you’ll need to know about the franchisor. Here, we’ve got you covered as you’ll readily find all such details by simply reading on.
The Perfect Candidate
According to Jeremiah, an ideal candidate should be genuine, generous, strategic, and cool.
What exactly do these qualities mean? In terms of genuineness, it requires its partners to be sincere. In other words, sincerity is a key requirement.
Being generous largely involves being an active community member. That has been an attribute that the franchisor has come to be known by. It wishes its franchisees to also be active members of their community.
By being strategic, simply means having a passion for problem-solving. Of course, this should tend more towards entrepreneurship. Having a strategic mind will be a good sell to get considered for this franchise opportunity.
Lastly, being cool and vibrant is in the company’s DNA. So, prospective franchisees seeking this opportunity will need to have this attribute as well as others stated above.
What it takes to open a Jeremiah’s Italian Ice Franchise
As expected, opening Jeremiah’s Italian Ice franchise requires meeting up to its obligations. In other words, you’ll need to qualify for such an opportunity to stand a chance.
Luckily, these aren’t too stringent or out of reach to most entrepreneurs.
First, you’ll need to meet up the financial requirements. This is followed by training which seeks to equip you and your staff with the knowledge necessary for a successful launch.
Asides from training, you also benefit from ongoing support to increase your chances of success.
Cost of Opening a Jeremiah’s Italian Franchise Location
One of the key requirements you’ll need to figure out is how to meet up with the cost or financial obligations of the franchisor. Here, the total estimated initial franchise investment is between $107,905 to $207,090.
This is the cost for co-branding, kiosk, and non-traditional opportunities.
However, if you wish to open or invest in a traditional Jeremiah’s Italian Ice opportunity, the costs are significantly higher. These range from $245,310 to $513,328.
There are opportunities for prospective franchisees seeking multi-unit investments.
In terms of cost, such multi-unit investments are incentivized with the franchisor providing significant franchise fee discounts. Jeremiah’s Italian Ice has a franchise fee of $30,000.
Veterans also benefit from a 20% discount on the franchise fee.
The royalty fee and ad royalty fee take up about 6% and 4.5% respectively of gross sales. These are categorized under the franchisor’s ongoing fees.
Prospective franchisees seeking financing opportunities benefit from the franchisor’s third-party financing.
Here, Jeremiah’s Italian Ice maintains relationships with third-party sources that offer to finance covering critical areas like startup costs, franchise fees, and equipment.
Other areas covered by this third-party financing arrangement include payroll, inventory, and accounts receivable.
However, you’ll need to first qualify for such financing opportunities.
You’ll need all the training necessary to own and run Jeremiah’s Italian Ice franchise. Training is split into two types; on-the-job training and classroom training.
On-the-job training spans a period of about 112 hours while classroom training is about 7-hour long.
All training provided equips you with the skills and tools necessary to effectively run your own Jeremiah’s Italian Ice franchise outlet.
However before training commences, you must have met all its requirements for owning the franchise. In other words, you must be its franchisee before being trained.
In terms of support, there are two key areas or categories which are ongoing support and marketing support.
For ongoing support, the franchisor organizes meetings & conventions, distributes newsletters and helps out with lease negotiation.
What more? All franchisees have access to a franchisee intranet platform in addition to the use of the franchisor’s proprietary software. Site selection, field operations, and grand opening are also among the benefits derived.
Marketing support covers several key areas aimed at improving services and promoting patronage. As such, you get access to ad templates, social media marketing, loyalty program, and email marketing.
Jeremiah’s Italian Ice franchise also helps its franchisees with web development.
Process of Ownership
Do you feel this is the right franchise opportunity for you? If you do, it’s not difficult to get started. All you have to do is fill in your basic details on a short form available on its site. This informs the franchisor of your interest.
Next, a call is placed to the candidate. This call helps the franchisor get to know you, and you the franchisor. Every pressing question you have should be asked at this point.
Also, the franchisor gets to know if you’re a potential fit for onward progression to the next level.
The franchise application procedure is next. Here, Jeremiah’s Italian Ice asks you to provide detailed background information as well as experience. This is aimed at knowing more about your qualifications.
Post Application Interview
After your application process is complete, a post-application interview follows. This isn’t conducted in person but done via a formal phone call.
Here, a joint (you and the franchisor) review of your franchise application occurs with a focus on your background, strengths, opportunities, and potential fit.
Discover/Due Diligence Process
You are sent the franchise disclosure document (FDD) for your review. A later date is scheduled for discussion of the FDD contents. Franchisees are also taken on a store visit to see how the business operates.
The discovery day is organized for new franchisees to allow them to meet the team and ask questions. Here, you’ll get to have a better understanding of the brand.
Post-Discovery Day Approval
This is organized after the discovery day. Rather than a physical meeting, a call is scheduled to confirm the next steps. This is in addition to discussions on territory and operational plans.
Signing the Franchise Agreement
Here, ownership of the franchise is finalized as you’re onboarded as a new member of the team.
All the basic information you need as a prospective franchisee about Jeremiah’s Italian Ice franchise has been provided here. With these, you have a better knowledge of how to proceed.