So you’ve been giving the idea of starting a franchise business some thought, and now you need to check into the many details of how to get started.
Choosing an establishment, figuring out if they offer what you need, deciding on if the opportunity is worth it.
Well, I can assure you that in most cases, it’s most definitely worth the investment, especially if you find yourself the perfect company.
Franchising is rewarding personally and professionally for you. You’ll have your very own business without having to build a reputation.
But you will have to respect the company’s reputation and visions.
So, if you ’re here reading this, it may be safe to assume that you are checking into businesses that are food related.
And why not give yourself a fresh, new opportunity with Jinya Ramen Bar?
This company is known for their traditional Japanese food and flavors that they serve.
It ’s not only a business for the Asian decent, but you can enjoy franchising this business no matter what your cultural background is.
It’s a wonderful way to bring a different culture of food to your community that tastes great and isn’t over-saturated in the country.
So let ’s dive into the details of Jinya Ramen Bar and see if it’s the right fit for your needs.
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About Jinya Ramen Bar
By now, I’m sure you all know of what ramen noodles are. But Jinya Ramen Bar is not about those packs of dry noodles that you’ll find at your local grocery store for a couple bucks.
This establishment serves up amazing traditional and flavorful ramen dishes that will have your taste buds screaming (with happiness, of course).
The use a mix of signature stocks and ingredients that they put in their ramen dishes. To name a couple, dashi and kombu are two of the tasty ingredients you will find in these dishes.
Not only do they create pork and chicken stock, but they also provide vegetarian broths for those that have a vegetarian diet.
This establishment is truly authentic and traditional with their service and flavors. If you enjoy a traditional Japanese flavor, then this is the spot to be. Or better yet, this is the spot to the franchise.
That’s right.
Their franchise opportunity is open for business and waiting for your passion-filled and enthusiastic persona to embark on this new journey.
Let’s take a look and see if the requirements and details fit your personal needs.
Cost and Conditions for Franchising
Jinya Ramen Bar has been franchising their business for about 6 years, so it’s definitely a newer opportunity. In fact, it took them 5 years to open 13 franchise outlets.
Currently, there are over a dozen operating franchise outlets for Jinya Ramen Bar. Since they have only been offering the opportunity for less than a decade, that number in growth is not entirely low.
But when we take a look at some other factors and details, this opportunity seems to get a little risky.
The turnover rate of a company is something that needs to be examined when studying a franchise business.
If the turnover rate is low, it could indicate the normal or good health of the company. However, if that number is too high, then it could be a risky business.
Imagine it this way.
Currently, the rate for Jinya Ramen Bar is 26.19; which is very high.
The turnover rate gets calculated by adding up all of the terminations, transfers, non-renewals, etc. That number is then divided by the total number of running outlets.
So if the turnover rate is too high, it could indicate that there have been many terminations. That could possibly mean that previous franchise owners may have seen decreases in sales and chose to shut down for a variety of reasons.
To gather the correct turnover rate and evaluate it perfectly, you would have to question the company about the high numbers and ask the reasoning behind closeouts.
All riskiness and growth talk aside, let’s get into the money part. How much are you going to have to invest in this business? Initially, the franchise fee is $30,000.
However, the total investment can run you anywhere from $629,000 to $1.2 million. Yes, million. That’s a pretty big chunk of change. Especially since they offer no financing options or refunds in certain circumstances.
Although, they will allow you to receive a discount when you purchase more than one outlet. The initial term will require a 10-year term agreement for both the initial term and a renewal term (if you choose to renew).
While the term length isn’t too high, the cost is pretty pricey. Which reminds me, the franchise fee and investment wo n’t be the only cost that you have to be responsible for. Nope.
There are also ongoing fees that you’ll be in charge of paying based on your gross revenue. There is a 5% royalty fee and a
1% advertising fee for the entire term.
Ok, time to give you some good news about this franchise. Because now you’re probably feeling more overwhelmed and confused about what to do.
Since you may (or may not) have had your heart set on Jinya Ramen Bar. The company does, in fact, offer some type of benefits to its franchisees.
You will receive a decent level of financial transparency from them which comes in handy to track past and current company data. You get reports on specific location data, quarterly and system-wide average revenue, and information on the top performing locations.
The company also provides training for you along with computer and technical support. So if you ever feel lost and alone, they have you covered.
Another thing that is important is the territory rights. Jinya Ramen Bar provides you with territory rights to the franchise you purchased.
What a relief, right?
Concluding the Review
So while it may seem that there are a ton of disadvantages to franchising this business,
there are definitely some perks to it as well. Some perks that even other companies won’t offer.
Franchising is a big responsibility and shouldn’t be taken lightly. This is a true business. One that you will technically own but still be running for someone else.
Because in the end, it really is someone else’s dream company that they built.
But you have the opportunity to enjoy all of the benefits of owning and running a business. True entrepreneurial status!
Jinya Ramen Bar is a decent opportunity with a few positives that may or may not outweigh the negatives. In the end, the final decision falls on you and your personal needs and desires.
In Lead Generation Business, It’s Possible To Quit Your Job Fast Without Spending $$$ For An Initial Startup Versus Franchising In 2019
Yes, I agree. There’s nothing that beats the power of the lead generation business to me. In fact, it became a game-changer for me. I couldn’t believe it’s possible to live in a successful laptop lifestyle wherein I can work anytime, anywhere in the world without compromising my income.
Compared to the franchising business, it requires my presence all the time to monitor the daily operations to make sure everything runs well. I have to monitor the inventories, the employees, and the list goes on.
It’s a lot of stress yet I don’t own a 100% shares of the profit after working my ass out in the franchise.
This is the reality of franchising.
You may feel assured of earning an income as soon as you put it up (after an intense market research for months) but in the end, you’ll get drained. You’ll burn out.
If you’re lucky enough to succeed in this business, great. If not, you have the lead generation business as your option. It’s not the end of the world for you. It’s just the beginning of your hustle.
Take me as an example. I’ve been into different kinds of businesses years back. But the only model I love is the lead generation business. With the lifestyle it brought me today, there is no doubt I’ll continue doing the business for more years to come.
Just 7 months after I joined the lead generation coaching program, I quit my 3-year job in a Japanese auto parts company after I graduated from Michigan State University in 2012.
While I worked full-time, out of desperation, I hustled until I earned my first $2,800 and in a few months, I gave my boss a 2-week notice to finally free myself from the dread I’ve been into.
To date, I am earning $50,000 every month in residual income with 100 lead gen sites I own, generating leads for the clients’ businesses. Take note, I didn’t work that much to maintain each lead gen site.
Take a look at my first lead gen site for a Limo company in Lansing, MI in 2014. I didn’t touch anything on the website after I created it since then, although I made it around 6 hours, including the ranking on Google search engine.
If this kind of lifestyle is possible to me, it’s possible for you, too.
All you need is to undergo the amazing lead generation coaching program that teaches you to hone your High-Income Skills. The skill that gives you the capacity to build your steady 6- to 7-figure passive income without being too sales-y with your clients.
The skill that gives you the financial confidence to the point you’re not worried what happens to your digital assets because you know yourself you can build your wealth back as quick as possible.
Are you ready? Go here to get started.