Taking the leap into becoming a business owner is a huge decision. It’s one that will change your life in ways that you may not even realize. But the process can be overwhelming and stressful. Especially on the beginning. It can also be a time filled with excitement and joy.
And if you are choosing the franchise industry, it can feel a little hectic at first. You may have a mind full of questions and have no idea where to begin. But, rest assured, you’re in safe hands.
Today we are going over an incredible franchise opportunity in the coffee industry. This coffee shop is unique and offers a fantastic experience for their customers. It’s one that anyone would feel proud to own or work for.
Biggby Coffee truly cares about every individual that walks through their doors. And they make it their mission to ensure each person feels accepted and loved. That’s the kind of coffee place I want to be at in the morning. Wouldn’t you?
That’s exactly why this franchise opportunity is coming in hot on the charts. But it’s not only because they are an incredible company that provides outstanding service. The actual opportunity itself is pretty amazing.
Since we can’t just base a decision solely on whether or not the company is a decent and caring one, we have to dig a little deeper. And find out what makes this business worth the investment. So, stick around as we check out the details on Biggby Coffee. To see if it’s the perfect franchise opportunity for you to sink your teeth into.
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The Fresh Taste of Biggby Coffee
There’s nothing like walking into your favorite coffee shop (or any coffee shop) in the morning and smelling those fresh roasted beans. Except maybe when the baristas give you that warm welcoming smile. It’s always great to feel invited and welcome. Especially if you are having a rough start to your morning.
At Biggby Coffee, they strive to make you feel important. No matter how many visits you have had to this shop, you will be welcomed with open arms. Because this coffee joint is dedicated to making everyone feel special.
And I think the world could use a little more of that.
At Biggby, they make it their mission to get to know each and every one of their customers by name and ensure that they feel the love. This company has true values and a genuine interest in people. Not just coffee.
You deserve a place where you are accepted for the person you are. Without having to pretend to be someone you are not. And in this friendly community, you will have exactly that. Coffee brings individuals together. It creates friendships and connections. And it’s a fun experience.
At least, it is at Biggby Coffee.
People of all ages can come to enjoy this exciting and warm environment. There are even treats that are kid-friendly. So no matter what you are craving, you can be sure to find it at Biggby’s. Whether it’s a classic coffee or a creamy smoothie. It’s all on the menu.
I think that’s what makes this business so approachable. And also what makes it such a great franchise opportunity. But to find out if this franchise opportunity is truly as good as it sounds, we need to go over the details and statistics first. Let’s dive in.
Details on the Franchise Opportunity
When checking into a franchise opportunity, it’s important to look at the background of the company and its growth. The growth (or lack thereof) of a company can give you a good idea of how strong the business is and how well previous franchise owners have done. Although there is no way to guarantee how much success you will have in the business, these statistics can give you a slight idea of whether or not it’s even worth your time and money.
When it comes to the Biggby Coffee opportunity, everything seems to check out pretty nicely. They have experienced a great amount of growth since the beginning in 1999. And they offer a fantastic amount of perks when you sign up as a franchise owner.
Starting with the growth, we can see that there has been a jump in the number of locations within just four years time. In 2011, there were a total of 126 franchise locations. And by the end of 2015, that number increased to 201 operating franchise outlets. Making it seem that this franchise opportunity is growing healthily. But we can’t determine the health on growth alone. For that, we check into the turnover rate.
The turnover rate is calculated by totaling the number of terminations, ceased operations, transfers, and non-renewals of the agreement. Then, you divide that number by the total number of operating locations. So, between the years 2011 and 2015, Biggby Coffee had a low turnover rate of 6.03. This can give us the clue that the company may be experiencing good health. However, it’s crucial for you to ask the company about the reasoning behind this rate to determine whether or not it truly is a good indicator.
Are you ready to hear some more good news? With this business, you will receive more benefits and financial transparency than what you may get with other opportunities. As a franchise owner for Biggby Coffee, you will receive historical sales data from previous years, average revenue numbers that are broken into quartiles, data on detailed expenses, system-wide average revenue information, and a variety of other metrics that are related to this specific industry.
You will also receive the proper training that will help you get started in this new business. You will learn everything there is to know about how to run the business and how to train your new employees. This is extremely helpful whether you are a new entrepreneur or experienced.
Franchise Requirements and Expectations
As the saying goes, you have to spend money to make money. And whether you purchase a franchise business or you begin your own startup company, you are going to invest a great deal of both time and money into the business. When you become a franchise owner, you have certain fees to consider that you wouldn’t normally have if you had your own startup. Such as the ongoing fees.
Your first payment for this business will be the initial franchise fee of $15,000. With a total investment of anywhere between $160,350 and $319,100. This total investment can vary depending on a few factors. One being your specific franchise location.
This initial franchise fee will be due at the signing of your agreement. And the initial agreement term will be at least 10 years. Once those 10 years are up, you can then renew your contract for 5 more years.
And during your contract agreement, you will also be responsible for ongoing fees. There will be a 5% royalty fee and a 3% advertising fee. Both of which are based on your gross sales. And these percentages are quite average for this industry. Not too high and not too low. Although, it can never be too low, right?
But the good news is that if you decide on purchasing more than one franchise outlet, the company will give you a discount on multiple purchases. So as you can see, there are quite a few benefits to owning this specific franchise.
An Honest Opinion
There could be many attributes that make a franchise opportunity worth the investment. And when it comes to the Biggby Coffee business, I honestly believe it’s worth every penny. Even though they aren’t asking for much money compared to other companies. However, with this company, you are going to get a great deal.
The growth is steady and rising; which to me, it seems to be a great sign. And the turnover rate is decently low. Meaning that there may not be much risk when investing in this business. Of course, there is always room for risky business. But it’s important to find one with minimal risk.
You also receive some great benefits when you purchase this franchise. Perks that not every company is willing to provide. And I think that adds to the whole package. Overall, Biggy Coffee, you can be free to be yourself and allow your customers to do the same.
This company seems to be genuinely caring and passionate about what they do and who they serve. Some may think that it’s just coffee. But for many individuals, it’s about more than just coffee. It’s about the experience. And the experience that Biggby Coffee provides is one that you might not find at any other coffee shop.
And that alone, says a lot about this company and what they stand for. And if you have that same passion-filled heart, then this may just be the perfect business opportunity for you. Because I genuinely believe that this franchise is worth the investment that they are asking for.
The Conclusion
A franchise business is a great way to own your own business without having to brand and build an entire company on your own from scratch. But as you can see, there are quite a few responsibilities that you have to consider before making your final decision. Some companies truly lack in growth and benefits that they offer. While others are exceptionally generous.
Biggby Coffee is one of those companies that offer a truly great opportunity. They have the necessities needed to build and grow your business. And the company itself is extremely friendly and considerate.
It’s the type of business that anyone would feel proud to be a part of. But is it the type of business that you can see yourself owning and operating?
If you like what you see here for this franchise opportunity, then get in contact with the company. Ask the appropriate questions so that you have all of the proper knowledge and understand about what this company is and what the business entails. By the end of this process, you could become the very next owner of one of these friendly coffee shops in your neighborhood. And I’m sure the people in your community would be genuinely grateful for this fantastic coffee joint.