Thinking about starting your own business? Maybe you have considered the thought of having your own startup but it just seems like too much work. Coming up with a business idea, building your entire brand, and establishing a good reputation. It’s all a lot of work and gets overwhelming fast.
But then there is franchising. With franchising, you have the opportunity to own your own business while not having to worry about the extra bells and whistles of branding.
It’s an excellent opportunity for aspiring entrepreneurs. Especially when you decide on franchising through a company that is well-respected and established. Earl of Sandwich is one of those companies.
This business has a lot of great attributes that will have you feeling confident in your choice to franchise with them. Considering they basically invented the sandwich, you can be sure that the name is well-known and loved. And if it isn’t in your area, then I’m sure it won’t take long to happen.
Their sandwiches are pretty amazing and have been around for decades. So, if you are looking to get started in a business that has the right amount of perks and a good brand that people love, then Earl of Sandwich is definitely worth checking out.
I’ll be going over the fine-tune details of this company so that you can make a well-informed decision without having to worry about anything. So sit back, relax and maybe take some notes.
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An Original Taste of Amazingness
Sandwiches have been enjoyed for centuries. Since around 1762 to be exact. That’s when a man named John Montagu invented what we now call the sandwich. I think we can all thank him for the tastiness that we now enjoy today. Especially for quick and filling lunches.
And to think, it all started by John asking for roast beed between a couple slices of bread.
The Earl of Sandwich business was born in 2004 and has been growing and expanding across the country ever since. Can you blame them though? If you have ever tasted their hand-crafted sandwiches, you would understand. There’s nothing like a fresh, made-to-order sandwich to give you that warm and fuzzy feeling.
You will never taste a sandwich quite like Earl’s. After all, it was the company that invented the sandwich. So you know it has to be good. In fact, they like to think that since they made the very first sandwhich, then they have to have the best sandwich out there.
The never fail to disappoint. That’s for sure.
With the signature artisan baked bread that is always freshly made to order, and the unique and traditional recipes passed through generations, they have mastered the art of sandwiching.
And now it’s your turn to deliver the very best sandwich to the people in your community. Of course, that’s if this business appeals to you and your needs. So let’s take a look at the details on this franchise so that you can get a better idea of what it takes to franchise with Earl of Sandwich.
What’s the Franchise Opportunity like?
If you have ever checked out and done research on a franchse opportunity, I’m sure it felt pretty overwhelming. But fear not, my friend. I’m here to break it all down for you so that you can feel less stressed and more excited about this journey.
The first thing that we will take a look at is the amount of growth that the company has experienced over the past few years. If there is a decent amount of growth, it can indicate that the company and its franchise opportunity has been well-liked and popular.
But we also have to check the turnover rate to determine how many terminations and non-renewals there have been. If this rate is too high, it could mean that the company is in poor health.
So let’s start with the growth.
Back in 2010, there were only 6 franchise outlets operating for Earl of Sandwich. Fortunately, by 2017, there ended up being 20 franchise locations running. While it may not seem like a big jump, it’s still an increase that clues us into the popularity of this opportunity.
The turnover rate does get a little high, though. Between the years 2010 and 2017, this company had a turnover rate of 11.51. Now, since it’s a wide range of years, it may not truly be considered high. To understand the reasoning behind why this rate is this number, then it’s best to contact and question the company.
They will be able to answer how many terminations there have been over the past few years. If there were a lot of terminations and ceased operations it coul indicate that previous franchise owners had a hard time staying open and closed their stores.
So, always question the company on the reasoning behind the turnover rate.
Requirements and Fees for Franchising
Now that we’ve got the background and growth taken care of, it’s time to get into the fun part. What’s it going to take for you to become a franchise owner for this company? Blood, sweat, tears, and a whole lot of money. But you already knew that, right? So how much are we talking here? Let’s check it out.
The initial franchise fee for this business is about average and actually not too high. For $15,000 you can get started on owning this franchise. But you are going to have to consider the rest of your investment costs. By the time you purchase everything needed, you will end up investing between $211,000 and $678,000.
These costs and initial fee will get you through your first 10-year agreement term. You can then make the decision after those 10 years are up to renew the contract for another 10 years at a time.
But that’s not the only fee you will have to worry about. Earl of Sandwich requires that you pay 6% in royalty fees and 1% in advertising fees based on your gross sales. These fees will be ongoing and paid based on when they request.
But even though there are all these fees, it’s still not a bad deal. This company offers a good amount of perks and financial transparency that will be extremely beneficial to you while running the business.
You will receive information on system-wide average revenue, revenue details related to the industry, along with a variety of other metrics that are related to this industry.
Not only that, but the company also provides you with training and support to help you get started and allow you to have the knowledge to properly train your employees.
Between those perks and the fact that they give you the territorial rights to your franchise location, I would say that this franchise opportunity is a pretty darn good one.
Take it To-Go
Overall, when you decide on franchising with any company, you can begin to feel that tightening in your chest. Whether it’s from stress, excitement, or both. But it really isn’t so bad once you start getting all of the details. As long as you make the best decision for yourself and your needs.
When it comes to the Earl of Sandwich franchise opportunity, I would say that it’s a pretty great business to get started with. It has a great reputation that goes back for centuries. And that’s one of the best parts of the business.
The fact that they truly are the inventors of sandwiches and you can be sure that they now have the best sandwiches around.
If you are looking for a business that everyone will fall in love with, then you have found it with Earl of Sandwich. Your next step is to contact the company and have any further questions answered so that you get started on owning your sandwich business in your very own community.