SMOOTHIE KING Franchising Information & Startup Cost
Smoothie King is a private Franchise Company and it has established itself as the premier Smoothie Bar Centre in the industry. The company offers its customers the finest and original nutrient-rich fruits and freshly blended smoothies.
They are not only involved in the sales of smoothies, each of their “Lifestyle Centre” offers healthy retail products to their numerous customers such as healthy snacks, energy bars, vitamin supplements, minerals, herbs, and sports nutrition products.
The company has since 1989 being named the top smoothie franchise company for 16 different years. You can now understand why you want to know how much is a Smoothie King Franchise?
ABOUT THE COMPANY
At a time when so many doctors’ visitations had done nothing to Steve Kuhnau’s allergies, his nurse began to study and get more information on nutrition and hoping that a change in his diet would assist him to recover from his symptoms.
He then began to eat fresh foods and cutting fat out of his meals and then the miracle popped up. Kuhnau began to feel better and then decided to begin the quest to combat his midday fatigue which was caused by hypoglycemia, with his expertise and the drink mixture experience he gathered while in high school, he then began to experiment with protein shakes.
This was how Kuhnau’s company, Smoothie King came into existence. Each Smoothie King store dispenses different flavors of smoothies with a wide range of minerals, vitamins, healthy snacks, and other nutritional supplements.
DOES SMOOTHIE KING SELL FRANCHISE?
The simple answer to that question is yes.
Smoothie King sells franchises and they began to do this in the year 1989. They can now boast of 28 years of juice bar franchising experience.
This is one important factor to determine your buying into the Smoothie King Franchise opportunity.
SMOOTHIE KING FRANCHISE OFFER
As a Smoothie King Franchisee, you will be provided with certain confidential information and the process of managing one of the company’s units. You will be licensed to use the company’s logos, trademarks, and other intellectual properties that belong to the company.
Smoothie King offers its franchises in two ways; The traditional and the non-traditional location. The traditional locations provide full service and they are run in strip centers or other shopping centers.
QUALIFICATIONS REQUIRED TO GET A SMOOTHIE KING FRANCHISE
For you to be approved as a Smoothie King Franchisee, you will need to be an individual with a great entrepreneurial spirit and also have ample years of marketing experience in the restaurant business.
You will also be required to have liquid assets of about $100,000 and then net worth of about $300,000.
HOW MUCH IS A SMOOTHIE KING FRANCHISE?
The cost of a Smoothie King franchise will be dependent on many factors that will include your location you choose to site your store, your choice of office formats, and hardware.
The estimated investment that you will need to complete a Smoothie King Franchise store will range between $190,000 and $420,000 and this is inclusive of the franchise fee, which is about $30,000.
Other on-going fees that you will incur in the course of running your store are a royalty fee of about 6% of the weekly sales and then an Ad fund of 2% of the weekly sales as well will be payable to the company. And also, each location will be expected to make a payment of $200/month as a technology contribution.
HOW MUCH CAN I MAKE AS SMOOTHIE KING FRANCHISEE?
One important question that you need to get answers to is how much you will make as a Smoothie King Franchisee. You will need to understand that the results of every individual franchisee will be based on factors that will not be within the control of the company, so you might not be able to get the actual estimate of how much you will make as a franchisee.
However, after due consultation with a Smoothie King Franchise Manager, you will be opportune to make contacts with existing franchisees and they will avail you with the information you seek in this respect.
SMOOTHIE KING FRANCHISE TRAINING
As a franchisee with the company, you will be expected to undergo a 19-day training which will be divided into 3 segments.
- One day orientation training
- Eleven-day management training at the company’s corporate training facility
- Five days of on-site training. This will be held 3 days before the store opening and then 2 days after the store has been opened.
FINANCIAL INCENTIVES FOR NEW FRANCHISEES
You might want to know if Smoothie King offers financial incentives to their franchisees. They do have any financial programs; however, they are registered with SBA and partners with a lot of financial firms.
What you can get close to an incentive from Smoothie King is when you open multi-unit franchises and you will get an incentive or rebate on your payments if you decide to open more than 3 stores in the market.
The company offers 20% incentives to veterans that were honorably discharged from services at various United States Military parastatal.
WHAT IS THE TERM OF AGREEMENT AND RENEWAL?
The term of the franchise agreement with Smoothie King is 10 years and this can be renewed for an additional 3-terms of 10 years each if the franchisee can meet the company’s requirements.