World of Beer Franchise Startup Cost, Profit & Opportunities
Have you always been intrigued by the craft beer industry?
Do you wish to join the revolution by owning part of a well-known craft beer brand? World of Beer franchise offers such opportunities and more.
There are several reasons to join this multi-billion dollar industry.
The rapid growth in retail dollar sales is one such reason. This international craft beer franchise promises immense possibilities, as you’ll find out below.
All you have to do is read through this article to fully grasp what’s needed and how to leverage the opportunity presented.
About World of Beer Franchise
Since it opened its first location in Tampa, Florida, World of Beer has blossomed into a significant brand with locations spread across the United States and internationally.
This franchise isn’t slowing down on its expansion drive as it continues to accept partnership opportunities through its franchise program.
The remarkable growth through exceptional services and rapid expansion strategies has earned it several recognitions and awards, including the “Best Beer Bar in the Country” by USA Today.
This sounds like a company you’d want to invest in. If interested, how do you go about the process? Let’s discuss this.
Is there a World of Beer Franchise Program?
If you’ve wondered or are confused about the existence of a franchise program, you’ll need clarification on that.
Without a doubt, World of Beer has a franchise program where investors get the opportunity to own or partner with the brand. This program is designed to expand the company’s reach.
To become its franchisee, you’ll have to meet the basic requirements, including having the minimum financial resources needed.
This franchisor sets other conditions or provisions. While some of these have been included here, you’ll learn about the others as you start the application process.
World of Beer Franchise Cost
When it comes to joining World of Beer’s franchise program, one of the main requirements includes meeting the minimum financial threshold.
This franchisor requires a net worth above $1 million. Franchise candidates must also show proof of liquid assets of over $300k and have a credit score above 680.
World of Beer requires other fees and costs, such as the franchise fee, which is around $50,000 per location. What more? There’s also a royalty fee of around 5% of net sales.
Franchisees are also expected to commit approximately 1.5% of net sales to the franchisor’s marketing expenditures.
When it comes to the total initial investment, this will mainly vary by location. The investment required is between $800,000 and $1,100,000.
There are several factors why such costs vary by location. Some of these include market demand and competition, labor and real estate fees, and local regulations and taxes.
What Type(s) of Support Do Franchisees Enjoy?
If you plan on joining World of Beer’s franchise program, you might be interested in the type(s) of support services available. Several include marketing, real estate/design, training, and technology.
Let’s briefly discuss some of these, shall we?
Under its marketing support services, World of Beer offers franchisees integrated marketing with social media sites, as well as in-house custom creative services.
Other types of marketing services include in-restaurant promotions, which are optional, as well as extensive loyalty program management.
ii. Real Estate/Design
The World of Beer franchise’s support services include real estate and design.
Here are critical aspects of operations like site selection assistance, construction assistance, and assistance from this franchisor’s design team and architects.
Such support guarantees to find the most suitable location for your operations.
Training is a crucial requirement that provides the know-how needed to function effectively.
Under its training support, critical areas like research & development, supplier relations, on-site assistance, supplier relations, and management training are covered.
Technology is one area that’s crucial to the success of this franchisor’s operations.
So, what aspects of the operation are covered under technology? They include technical support, the use of the franchisor’s proprietary software, menu management services, and custom mobile applications.
World of Beer Franchise Profitability
Every investor or prospective franchisee joins a franchise program to share profits.
Now, franchise opportunities like the type provided by World of Beer promise investors attractive ROIs. While that is true, experiences or realities might differ for different franchises.
This is primarily the case due to several factors that come into play.
So, what are these factors, and how do they affect profitability? Such factors include competition, location, franchise fees & royalties, management & operations, operating costs, marketing, and branding.
Competition is one of the realities you’ll have to deal with as a World of Beer franchisee. There are lots of similar businesses you’re likely to compete with.
This is likely to impact marketing efforts and pricing strategy.
As stated earlier, World of Beer offers new franchisees the support they need to find the ideal location. These are areas with the potential for increased sales.
Such locations typically have high foot tracks or are areas with high population density with ample parking space.
iii. Franchise Fees & Royalties
To a large extent, profitability is affected by fees and ongoing royalties. World of Beer has a good franchise and royalty fee, allowing franchisees to earn good profit still.
You’ll need to make your findings by asking the right questions to know if you should proceed with joining the program.
iv. Management & Operations
A franchise must have sound management and operations to be profitable.
Luckily, the World of Beer franchise has that in place. Its effective operational practices have helped franchisees control costs, improving efficiency and increasing customer satisfaction.
v. Operating Costs
Profitability will also be determined by operating costs.
To be more specific, aspects of running costs such as inventory, rent, and labor fees will play a key role in determining how profitable your World of Beer franchise will become.
vi. Marketing & Branding
Does the World of Beer franchise have a robust marketing and branding program? It does.
The best part is the franchisor’s marketing & branding play a role in determining profitability. This point and others mentioned will be crucial in a thriving operation.
Join the Program
If you’ve decided that World of Beer’s franchise program is the best for you, consider finding out more by getting in touch. This requires filling and submitting an online form provided for this purpose.
Now you know what it takes to start your journey as a World of Beer franchisee.
During the application process, franchisees will be issued the franchise disclosure document (FDD), which contains all the information there is to know about the franchise.