You may have already heard about how Cold Stone Creamery offers one of the fastest-growing franchise opportunities on the market today. You may even have considered getting into the business yourself, drawn by the potential to see a rich return on your investment in a relatively stress-free business.
Many potential investors only get this far, but then they’re put off by what they assume will be high startup costs. The fact of the matter is, however, that the Cold Stone franchise cost is one of the lowest in the business, especially when you consider the value that comes with it.
The cost of opening up your typical casual restaurant franchise is all over the board, but most of them are steeper than you’d expect. The range falls anywhere from a quarter of a million dollars to a cool million or more – not exactly chump change.
What’s worse, many of these franchises also have strict rules and regulations about exactly who can be a franchisee.
By comparison, Cold Stone’s franchise costs are much more reasonable. You only need a relatively reasonable net worth of $250k, of which $100k has to be liquid, non-financed funds. These requirements make Cold Stone one of the easiest franchises to qualify for.
The actual costs involved in starting up a franchise aren’t exorbitant, either. There’s only a $27k franchise fee, and startup costs range from $277k to $464k. This is anywhere from a quarter to half of what you’d expect to pay for many other franchises.
The corporate office doesn’t dip its hands too deep into your pockets, either. Royalties are 6% of gross sales, while an additional 3% of gross sales goes directly to advertising. This is a steal given the following and brand loyalty that Cold Stone engenders.
What are you getting for your Cold Stone franchise costs? First and foremost, you’re aligning yourself with the Cold Stone name, which has a devoted following all over the United States. Each store gives you virtually unlimited flavor options, and that keeps people coming back again and again.
You also get world-class support from the corporate office. The #1 reason why franchises fail is because of easily avoided mistakes, which is the kind of wisdom found only through experience. With Cold Stone, you get the wisdom of hundreds of owners at your fingertips.
They’ll walk you through every aspect of your ownership, from finding a great location to maximizing your customer experience. Even better, a portion of your dues go towards marketing, so you know you’ll always have fresh prospects knocking down your door.
If you’re looking for a way to get into the franchise business, then you can’t beat the startup costs of owning a Cold Stone franchise. Not only do they make it possible for regular people to get involved, but the rewards have a potential to be staggering.
Your mother may have warned you about having too much ice cream. If you decide to own a Cold Stone franchise, however, your banker might just beg to differ.