You must live and breathe what you do to be successful in franchising. An error has occurred please try again later. Related: Leaving Corporate America for Franchising After 30 Years. What advice do you have for individuals who want to own their own franchise? Smoothie sales continue to climb, and the $2 billion category is projected to increase another 25% over the next three years. instructions how to enable JavaScript in your web browser, Travel and Living Expenses (3 persons) while training, not including salaries, if any, for franchisees and their employees, Restaurant Equipment, Furniture, Small Wares, Interior Signage and Menu Panels, Additional Funds – 3 month initial period. Just a few weeks later, Mann and his father were visiting the Planet Smoothie corporate office so Mann could look into buying his own location. Here's what he's learned in the last 15 years as a franchisee. The total investment is between $120,150 -$329,250. Ever. Thanks for sharing your details, we’ll be in touch shortly, Please enter your details to request a FDD download link. All collection costs including reasonable attorneys' fees. Franchising provides a proven business model you can plug into, combined with brand name recognition and volume cost savings. If franchisees are an individual, they (and their spouse, if married) must sign the Guaranty of Franchise Agreement in which they (and their spouse, if married) agree to perform, and guarantee, all of the franchisee's obligations to the franchisor and its affiliates contained in the Franchise Agreement, and if franchisees purchase a corporate restaurant, they (and their spouses, if married) must also sign the Guaranty of Promissory Note and Security Agreement and Guaranty of Sublease in which franchisees (and their spouses, if married) agree to perform, and guarantee, all of the franchisee's obligations to the franchisor and its affiliates contained in the Promissory Note and Security Agreement, and all of the sublessee’s obligations to the franchisor and its affiliates contained in the Sublease. Are you paying too much for business insurance? It may be in the product or the people that drive the brand’s success. Ever. Out-of-this-World Smoothie Franchise Collaborates with Local Couple to Open Concept in Middletown. Start-up costs had to be reasonable and it had to be a business that could be run with a minimal number of employees with low inventory and strong profit margins. Related: This Couple Discovered Franchising as a Way to Give Back Locally and Globally. The franchisor requires that the business is solely that of a Planet Smoothie restaurant, and franchisees may not conduct any other business or activity at the site of the restaurant without the franchisor’s prior written approval. A charge not to exceed the reasonable cost of the inspection and the actual cost of the test not to exceed $5,000. $2,500 for 3 individuals ($500 for each additional individual). We don't share our mailing list. The franchisor will not unreasonably withhold its approval of the location. ), POS Help Desk Phone Support Maintenance Contract Fee. For traditional Planet Smoothie franchises, franchisees must offer the full menu prescribed by the franchisor, subject to change from time to time in our sole discretion. Planet Smoothie provides customers a premium product and we expect our team to provide premium customer service. Our first major nationwide expansion is happening now. In the early days, I relied heavily on my father’s advice because of his near 30 years of experience owning and operating businesses. Since its first store in 1995, Planet Smoothie has been treating customers to "The best tasting smoothie on the planet," and today serves customers all the way from Massachusetts to Hawaii. Planet Smoothie franchise offers two different franchise location models. As my first experience at business ownership, the support I've received has been invaluable. 50% of the then-current Initial Franchise Fee. By continuing to use this website you consent to the terms of our privacy policy. Our total project cost, including licenses and fees, was around $225,000. New external growth is certainly a strong focus of ours. The first step to Jason Mann buying a Planet Smoothie franchise was a trashcan filled with straw wrappers. The franchisee’s attendance at these programs is mandatory. So, it was always my goal to own my own business. Copyright © 2020 Entrepreneur Media, Inc. All rights reserved. Now, with the addition of the celebrity-favorite and healthier frozen dessert brand Tasti D-Lite to our lineup, the combined business opportunities are endlessband turnkey: With a menu that has all-day consumer appeal, your future with Planet Smoothie is about as sweet as it gets.