Vitality Bowls Franchise Startup Cost, Profit & Opportunities
Vitality Bowls started with husband and wife’s desire to find safe nutritional alternatives for a child with severe food allergies.
Founded in 2011, Vitality bowls franchise was launched in 2014. Today, that quest has materialized into a successful superfood concept with over 100 open cafes and more still being developed across the country.
The Vitality Bowls brand is huge with rising demand for its products. This franchisor sees the growing need for healthier, yet delicious food options as an opportunity to expand its reach. This is only possible through strong business partnerships with its franchisees.
Prospective franchisees across the United States are welcome to apply.
Opening a Vitality Bowls franchise isn’t as expensive compared to other restaurant franchises. The financial requirement includes several cost implications that qualify a prospective franchisee for this opportunity.
However, you shouldn’t be discouraged if you don’t have the stated amount.
Vitality Bowls has financing options available for this purpose. These come with terms and conditions. We’ll be discussing more on such financing options shortly.
You’ll only need an average initial investment from $170,100 to $604,000. The cost incurred will depend on multiple factors, a few of which include size, franchise type and also the geography of your location.
So, what does the initial investment cost cover? Several things.
This cost covers for supplies, business licenses, equipment, real estate as well as working capital for your daily operations (in most cases, the working capital should be sufficient for 3 months until the business turns profitable).
The Franchise Fee
Prospective franchisees are required to pay an initial franchise fee starting from $39,500. Vitality Bowls may decide to make this a flat fee or may depend on the size of your territory, or level of experience among other things. This is a one-time fee that is due at the signing of the franchise agreement or contract.
The franchise fee will cover the rights to the use of Vitality Bowl’s business systems, name, as well as its trademark among other things.
To be considered for this franchise opportunity, you must have a minimum net worth of $350,000. This is the value of your assets with the exclusion of liabilities.
Are you a bit confused, you shouldn’t be.
Your assets include valuable items such as cash, stocks, real estate & retirement accounts. These are available to meet commitments or legacies.
Liquid Cash Requirement
Vitality Bowls requires prospective franchisees to have a liquid cash requirement of $100,000. This is in addition to ongoing fees which include the ongoing royalty and ad royalty fees of 6 and 1.5 to 2% respectively.
If you feel Vitality Bowls offers the right opportunities, you can commence your application right away. This involves an easy process which includes the following steps;
Fill Its Online Form
An online form or questionnaire has been made available by the franchisor for easy contact by interested franchise candidates. This step is essential for both parties (yourself and the franchisor) to understand each other better.
While the franchisor seeks to know your needs as its potential franchisee, you get to learn all there is to know about Vitality Bowls.
The Initial Call
The information supplied by you on its online form is used to contact you. This is known as the initial call where the franchisor gives you an overview of what the franchise is about and what opportunities there are for interested investors like you.
Most importantly, the franchisor will seek to get further information about you such as your background and goals.
This is necessary to enable it to move forward with the process.
You get a call from one of its founders who has a more in-depth discussion with you. The purpose of the call is to find out if this opportunity is the right fit. The outcome of the call will determine if you’ll proceed to the next step.
Meet The Founders
Having ascertained that you’re the perfect fit for this franchise opportunity, you get to meet the founders in person.
This is a more detailed and comprehensive step and will involve discussions about the opportunity and how it benefits you as a franchisee.
Validation is one of the most important steps you’ll take as a prospective franchisee. Here, you get to speak with existing Vitality Bowls franchisees. Such discussions are usually fruitful and enable you to get a better understanding of how the business relationship goes.
Only this time, you’ll be seeing things from the investor’s perspective.
The prospective franchisee is given Vitality Bowl’s Franchise Disclosure Document (FDD). This contains everything you need to know about the franchisor plus detailed expenses. The FDD is to be reviewed by you and signed when you’re satisfied with its contents.
The last step of the process involves awarding the franchise. However, this will require a final interview by the franchisor. Based on previous meetings and discussions and your goals, you are finally accepted and awarded a franchise.
As a Vitality Bowls franchise, you get to benefit from its financing options. This is made possible through its relationship with third-party sources who provide financing covering several critical areas of operations.
Areas covered include equipment purchase, inventory, the franchise fee, and start-up costs. Veterans also get a 10% discount off the franchise fee.
New and existing Vitality Bowls franchisees benefit from a wide range of support services. These include training, ongoing and marketing support.
Franchisees undergo onsite training lasting 36 hours. This is followed by a 4-hour training at its headquarters.
Ongoing support covers newsletter releases, a grand opening ceremony, online support, a toll-free line as well as meetings & conventions. Others include site selection, access to its franchisee intranet platform, field operations and security/safety procedures.
Marketing support covers loyalty programs, website development, national media advertisements, email marketing, and SEO. Others are ad templates and social media advertising.
These are the basic information on Vitality Bowls and should be sufficient enough to enable you to take the first step.
The finer details of owning this franchise opportunity are contained in its FDD which you get to review during the process of application.