Maps have come a long way over the years. And with the use of GPS, a lot of people tend to take the easy way out and discard the old-time maps. However, when you have a beautifully put together map that shows local areas and attractions, it’s easy to fall in love all over again.
That’s where Discover Maps comes into play. Sure, GPS has taken over the country. But nothing compares to a gorgeous hand-drawn map that locates every attraction in the area. I believe that’s why this company has been doing so well over the years.
Regardless of how many people have chosen to discard the traditional maps, Discovery Map is a product that can’t be replaced.
Meaning that it would be a pretty great franchise business opportunity for those that are crafty and enjoy these types of things. But as always, it’s important to do your research before making any hasty decisions.
With every business opportunity comes a lot of responsibility. And just because you will be franchising a business doesn’t necessarily mean that you will have any less responsibility. In fact, you are going to be expected to keep the brand and mission of the company alive.
This company has been built from the ground up by the founder and it’s your responsibility as a franchise owner to ensure that the reputation is well-kept.
So even though you won’t have the responsibility of building an entirely new brand and marketing from scratch, you will still need to take extra special care of the essentials in this business.
So to make sure it’s worth your time and money, let’s take a look at this opportunity and find out the details and expectations. So that you can make a well-informed decision based on the facts rather than opinion alone.
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Discover the Greatness
Since the early 1980s, Discovery Maps has been providing beautiful advertising maps that are hand-drawn to perfection. These color maps are usually handed out to visitors of business locations and travel areas.
Each specific map is illustrated to show local attractions, accommodations, services, and shops. With these incredible maps, visitors are able to enjoy the sights and attractions more easily without feeling lost or overwhelmed by an unfamiliar area.
It also gives the user a more fun and creative way of using a more traditional map rather than relying on GPS. Which we all know can be pretty unreliable at times, right?
Although, Discovery Maps does now include a functional map that is digitalized so that those that enjoy these type of maps can feel more comfortable with the use of them. But rest assured, they are just as beautiful as the original paper Discovery Maps.
This puts you ahead of the game if you decide on purchasing a franchise through this company. Because it’s something traditional yet beautiful that everyone needs and uses. It’s a great way to keep the beauty alive within communities by sharing these wonderfully created Discovery Maps.
So, what’s the deal with this franchise opportunity anyway? How does it work and is it actually worth your investment? Let’s take a look and see.
Franchise Details and Information
Sure, franchising through a company that has a pretty awesome concept and product sounds like a solid idea. But is it really? To find that out, you first have to take a look at a few aspects of this company and its opportunity to see if it’s in good health. Or else you could jeopardize getting into potentially risky business.
First, we check out the growth of the company and compare it with the turnover rate. Both of these aspects could give you a better idea of how popular the opportunity is and how well it has gone for previous franchise owners.
When it comes to growth, Discovery Maps definitely has expanded over the years. In 2010, there was a total of 95 franchise locations operating within the United States. By the time 2016 rolled around, they had a total of 128 franchises for this company.
As you can see, it may not be a huge jump for over six years, but there is an obvious increase in locations. And with the 10.25 turnover rate, it can go either good or bad. Depending on the reasoning behind this rate, it could potentially indicate the health of Discovery Maps.
The turnover rate is calculated by totaling the number of terminations, transfers, ceased operations, and non-renewals and then dividing it by the total number of operating locations. So, again, depending on the reasoning behind this rate, it could go either way. It’s always important to question the company on how many terminations, ceased operations, and non-renewals there has been within a certain number of years.
However, this company has been offering this franchise opportunity for quite some time. Since 1993 to be exact. And they provide a good amount of financial transparency to those that decide to purchase a franchise through them. So it’s obvious as to why this company’s franchise opportunity has been expanding.
When you franchise with this company, you will receive system-wide average revenue information and sales numbers from the locations that are owned by affiliates. However, these are only available for mature franchise locations.
Requirements for Franchising
The good news is that the cost and investment aren’t too high for this opportunity. However, even if it is too high for you, there are finance options available through the company that you can take advantage of. You can also receive discounts when purchasing more than one franchise location.
When you sign up as a franchise owner for Discovery Maps, your initial franchise fee will be $25,000. After everything is said and done, depending on the location and other factors, your total investment for this business can be anywhere between $35,250 and $44,950.
This fee and investment cost will get you through your first 10-year contract agreement. Once those 10 years are up, you can then choose to renew your agreement for 5 years at a time thereafter.
During your agreement term, you will also be required to pay ongoing fees to this company. These fees are pretty average and expected from almost every franchise opportunity. The royalty fee is a little high at 10% while there is only a 1% advertising fee. Both of these fees will be based on your sales.
This company will then give you the territorial rights to our franchise location along with the proper training so that you can feel confident in knowing that you are running the business the way it’s supposed to be run.
With the price of this franchise, I would say that you are getting a great deal for this specific industry.
Wrapping it Up
Whether you decide on starting up your own business or purchasing a franchise business, there will always be some positives and negatives to running and operating it. In fact, there are many things to consider before making any decisions. And I’m not just talking money here.
Some companies may seem like a great business opportunity, but when you dig deeper, the truth comes out.
Fortunately, Discovery Maps seems to have a great concept, product, and business opportunity. The success results will ultimately depend on you, however. Either way, it’s a great company that provides a fun and useful product.
But is it the kind of company that you see yourself owning and operating? Is it the type of cmpany that you will feel passionate about?
These are questions that you will have to ask and answer for yourself before jumping into any new opportunity. Whether it;s a startup business or a franchise business. Always do the proper research before you make your final decision.
Contact the company and grab the fine-tune details on this franchise opportunity to find out if it meets your expectations. Who knows? You may just end up being the next Discovery Maps owner in your community.