KID TO KID Franchising Information & Startup Cost
Kid to Kid is a retail clothing chain that has its headquarters in the United States of America. Kid to Kid is currently looking out for new franchise units throughout the United States, also in Western Europe, South America, Canada, Eastern Europe, Australia, Mexico and Central America.
If you are a business person or entrepreneur and you wish to own and run a clothing business, Kid to Kid franchise could be a good fit for you.
In this article, we will consider Kid to Kid and what it has to offer to those who are interested in running as a franchisee under it.
First, we will begin by knowing the history of Kid to Kid, how it started and when it became a franchise.
Secondly, we will consider the costs that are involved in operating a Kid to Kid franchise. These costs include the franchise cost and franchise fee. Next, we will examine the training and support that the company makes available for its franchisees.
Lastly, the terms of agreement for the franchise and information on how to open a Kid to Kid franchise will be provided.
Is Kid to Kid a Franchise?
Yes, Kid to Kid is a franchise. The company was founded by Shauna Sloan a mother of six and her husband Brent. Brent was an attorney and shopping mall executive and this made it easy for him to identify the potential in second-hand stores had.
Also, the Sloans were convinced that no other system had entirely understood and taken advantage of the resale idea and so because of this, they planned to make use of the opportunity that they had. The Sloans decided to create their resale format and then started traveling across the country to visit stores and hold discussions with customers/clients and also with store owners and managers.
The couple met with success and in 1992, they opened their first store. Later in 1994, the company’s first franchise store was opened.
The company’s current corporate address is at 39 E. Eagle Ridge Dr. North Salt Lake, UT 84054, USA. The present Chief Executive Officer is Scott Sloan, who is one of the children of the founders Shauna and Brent.
How Much Does Kid to Kid Franchise Cost?
Those who desire to start a Kid to Kid franchise are required to have an initial investment of about USD$28,160 – USD$448,660. Liquid cash requirement of USD$75,000 is also expected. For more information on the cost of the franchise, they need to contact the company through their website www.kidtokid.com
Kid to Kid Franchise Fee
Interested entrepreneurs or franchisees who want to operate a Kid to Kid franchise need to pay an initial franchise fee of USD$25,000 which gives them the license to operate their store or stores under the company’s name. There is also 5% royalty fee and 0.5% Ad royalty fee to be paid. More information is found on the website www.kidtokid.com
Kid to Kid Franchise Start-up Cost
Any interested individual that wants to operate a Kid to Kid franchise needs to have a net worth of at least USD$200,000. More information is available on the company website www.kidtokid.com.
Kid to Kid Franchise Training and Supports
Kid to Kid provides essential training and provides support for its franchisees.
The support that the company provides include but are not limited to;
- USD$5,000 off the franchise fee for veterans who served in wars.
- A Regular newsletter that contains information that will help the franchisee.
- Toll-free line for the franchisee with which inquiries can be communicated.
- Online support for the franchisee.
- Safety and security procedures for the franchisee for in case of emergency.
- Help in making a grand opening for a franchisee that opens a new store.
- Access to the franchisee intranet platform.
- Support with local marketing for the franchisee.
- Website development for the franchisee.
- Assistance in setting up social media accounts.
- Help in advertising, be it co-op or regional advertising.
- Field operations support.
- Invitation to meetings and conventions by the company.
- Site selection for the franchisee.
The company also provides training which includes;
- On-the-job training which lasts for about 40 hours.
- Classroom training for 88 hours.
- Additional training that can be carried out at the location of the franchisee’s store.
Kid to Kid Franchise Terms of Agreement/Renewal
For a renewal, the franchisee is expected to pay 25% of the initial franchise fee (USD$25,000) which is USD$6,250. For more information about this, check the company’s website at www.kidtokid.com
How Much Does a Kid to Kid Franchise Make?
We cannot accurately estimate the amount of money that a Kid to Kid franchise makes. This is mainly because the amount of money a franchise owner can make has many factors affecting it. Some of these factors are the location and size.
As a franchise owner, your goal is to reduce costs and increase sales, while not contradicting the quality of your product or service. You can also be sure to start making the profit early because the start-up cost has covered the cost of furniture, decoration, and renovation.
How to Open a Kid to Kid Franchise
For entrepreneurs or business-oriented individuals who desire to open a Kid to Kid franchise, they should make contact with the company directly through its official website at www.kidtokid.com for all inquiries.