Becoming a franchise owner is an extremely exciting time in one’s life. It can also cause a bit of confusion and headaches. Because there are a ton of factors that you need to consider before even thinking about making your decision to franchise a specific business.
You’ll first want to ensure that you are getting into the right industry. An industry that not only interests you but also makes you feel passionate. It also helps if there is a high demand for a specific product or service that the industry serves.
If you want one of the most successful industries, then your best bet is to choose the food industry. We all love food, right? And we all need it to survive. Heck, most people will even spend money that they don’t have on a special night out or a treat for the family.
Take a look at the frozen custard industry, for one. I’m sure that you are beginning to notice a rise in popularity with these establishments. So, naturally, that means that there is a higher demand for more of these facilities. Why? Because frozen custard is delectably creamy and tasty. It’s definitely creamier than the alternative of traditional ice cream.
And when it comes to choosing a frozen custard franchise, it may be a good idea to choose a company that serves much more than just frozen treats. Giving you a better chance of seeing success when you offer more than one menu item.
Freddy’s Frozen Custard & Steakburgers is truly a one-of-a-kind establishment that has been taking it back to one of the most beloved decades of the century; the 1950s. Everything from the interior decor to the taste of their products will bring you a blast from the past. In a good way, of course.
So, let’s take a look at what this company is about and how you can take advantage of this incredible franchise opportunity with Freddy’s.
Freddy’s Delicious Treats
Since the beginning of this great establishment in 2002, Freddy’s has proved to be one of the most favorite hang out spots of its kind. Being named after a World War II Veteran, Freddy Simon, you can imagine how much history is put into this restaurant. And they stay true to the test of time.
This fast-casual burger restaurant has a menu filled with tasty treats for the entire family. And the environment is extremely inviting for everyone. The design is based on the 1940s through the 1950s. And with the red and white decor and black and white checkered flooring, get ready to take a step back in time.
Everything from the stools, chairs, and red-vinyl booths will have you feeling as if you are back in the 1950s enjoying a burger and shake at your favorite restaurant. It’s a welcoming atmosphere for sure. But their selection of food is what really makes this restaurant so unique and fun.
With their variety of fresh steakburgers and frozen custard that is churned out fresh, this restaurant is sure to become one of your favorites to visit. Whether you’re looking for a quick bite to eat or to enjoy the 1950s scenery with added pictures of the original Freddy, every time you visit this establishment you will feel welcome.
But is the franchise opportunity just as legendary as the actual restaurant? Let’s dig into the details and find out.
Freddy’s Fantastic Franchise Opportunity
Sometimes, a business can seem great from the outside, but once you dig a little deeper, you find out that the opportunity turns into a disappointment. That’s honestly not the case here with Freddy’s. In fact, their statistics are looking pretty amazing since the opening of their franchise opportunity back in 2004.
By the end of 2010, the company had 38 total franchise locations operating. And by 2017, that number took a huge leap to 263 operating franchise locations. This increase in locations definitely shows us that there is quite a big interest in this opportunity. And the fact that the turnover rate is low, can possibly indicate that there haven’t been too many closings.
With a 1.53 turnover rate, we can presume that there haven’t been franchise owners that terminated their agreements or chose to not renew their agreement. And that says a lot about a company. However, to ensure that we are on the right track with this assumption, it’s always best to communicate with the company to find out the exact reasoning behind this rate.
However, maybe the reason as to why they have seen so much success is because of the amount of benefits that this company offers. Especially when it comes to financial transparency. As a franchise owner, you will receive data on detailed expenses, system-wide average revenue information, the sales numbers from locations owned by affiliates, as well as a variety of other metrics that are relevant to this industry.
As if that wasn’t enough, the company will also provide you with extensive training and support. So that you have the opportunity to get off on the right foot with your new business. And completely understand how everything works at this company.
All of these perks are definitely great, so you can see why this is such an incredible franchise opportunity. But does it meet your expectations? And do you have what it takes when it comes to the requirements for owning this business? Let’s find out.
Requirements for Owning Freddy’s
The requirements of a specific business opportunity can either make or break your final decision. Because let’s face it, some companies seem to be out of their mind with their high level of expectations. But then again, there are some companies that make it a little more realistic giving you a better chance at becoming a franchise owner.
Freddy’s is one of those generous companies.
The initial franchise fee will be due at the signing of your agreement and is quite decent at $25,000. Your total investment can range quite a bit, however. By the time everything is said and done, you will have invested anywhere between $577,968 and $1,986,361. This number can vary due to special circumstances such as your specific location.
The one thing that will not change is the ongoing fees that you are responsible for as a franchise owner. There will be a 4.5% royalty fee based on all of your gross receipts and a .4% advertising fee. Both of these fees are to be paid the entire length of your term agreement which is a minimum of 15 years.
And the good thing about this company is that they provide you with the territory rights to your franchise location. Not many other companies are willing to do this. So be sure to add that to your growing list of pros for this franchise opportunity.
Overall, these requirements are pretty basic and quite average for this industry. In fact, they are some of the best ones that I have seen for this specific industry. But is this something that you are willing to work with?
Here’s What I Think
Purchasing a business that is already established and has a great reputation gives you a great head start on your new journey. And Freddy’s Frozen Custard & Steakburgers is one of those businesses that you can call pretty successful from the gate.
The numbers don’t lie here; it’s obvious that this company has seen a boom in growth and success. And by looking at the requirements and benefits, it’s easy to see why. I truly believe this is one of the better opportunities that are available on the market. Especially for this specific industry.
I especially appreciate the fact that they offer a great level of financial transparency; something that not every company will provide. And the ongoing fees are quite low as well. So you won’t have to run yourself dry trying to come up with these requirements.
Overall, the actual company has quite a bit of history and a great concept with the overall decor and design. That’s another great attribute. Because I feel that customers will truly appreciate this type of restaurant and enjoy the entire atmosphere.
So, when it comes time to examine your choices for a new franchise business, I would definitely suggest considering this company. With the amount of growth that they have seen over the years, it just seems to be getting better and better. And as a franchise owner for Freddy’s, you can have the opportunity to grow with them.
Finding the perfect business opportunity is not always easy. It can cause extreme amounts of stress over time. But it doesn’t always have to be overwhelming. In fact, when you know exactly what you are looking for in a business, it makes it much easier. And when you find a great opportunity that meets your expectations, it’s going to be hard to pass up.
When it comes to the Freddy’s Frozen Custard & Steakburgers franchise opportunity, it’s easy to see that this is a great business venture to start out with. They offer a great amount of benefits and the price is decent.
What’s even better is the fact that the company is consistently growing without much of a turnover rate. That is definitely a sign of good health for this company. However, we can’t be too sure and conclude that this is the perfect business opportunity without speaking directly to the company.
So, if this is the franchise that you can ee as your own, then it’s time to contact the company. To find out all of the details and get started on your application. You could end up being the next successful Freddy’s franchise owner.