A franchise opportunity can be the best investment you ever make in your life. But you have to be sure that it’s the right opportunity before you make any final decisions. While some companies have outstanding opportunities, there are quite a few that are just plain risky business.
When it comes to the food industry, there are tons of different businesses to choose from. However, how will you know if you are choosing the right one? Research. And then research some more. Make a list of everything you want and expect in a franchise opportunity. And never settle.
This company that we are talking about today is called Which Wich. This business has been exploding with growth and proves to be a pretty amazing opportunity at first glance.
The company is extremely well-established and seems to offer a decent amount of benefits. But if we dig a little deeper, what can we find? The truth is, anything is possible. Which Wich has an outstanding reputation as a business overall. But how do they measure up when we look at the franchise opportunity?
It’s important for you to understand the good, the bad, and the downright ugly before you go and make any final decisions. Because you wouldn’t want to start a new business if that business is already showing a decline in health, right?
So, let’s dive into the Which Wich franchise opportunity to find out the nitty-gritty details. That way, you can feel confident in the decision you make. No matter what that may be.
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What’s With Which Wich?
Everyone can appreciate a well-crafted sandwich. After all, it is the go-to lunch meal for just about everyone, right? Well, at Which Wich, they realize the importance of a perfectly made sandwich. And that’s why they put over 50 different sandwich varieties on the menu. All of which can be customized to your liking.
Maybe that’s why they are called Which Wich. Which “wich” will you choose?
But that’s not all. Their menu consists of made to order salads, cookies, milkshakes, and of course, drinks and the perfect sandwich side; chips. And it’s not just amazing food that you will experience in one of these restaurants. It’s an entire experience filled with positivity and high-vibes.
They will greet you with a smile. And strive to keep you satisfied and energized before you leave the store. Now that’s what I call great customer service. Especially when the food and service are both outstanding.
As you step foot into the store, you will notice art hanging on the walls. But it’s not just any kind of art. These pieces represent the core values of this company and what they stand for. But as with every piece of art, you are free to interpret the piece as you wish. Just as long as it gives you that warm, fuzzy feeling.
And to go even further on proving how much Which Wich cares about their customers and the people in the community, let’s go a little deeper.
This company is truly incredible. They not only provide amazing service and food, but they created a special program called Flag Your Bag. During this time, they create patriotic bags and fill them with goodies to hand out to veterans and service members in America.
But it doesn’t stop there.
Project PB&J helps feed those that are in need. For every PB&J you purchase, someone in need will receive one for free.
Pretty amazing, right? I truly admire Which Wich for the services they provide to those around the country. It’s the little things that make a difference. And by sticking together, we can all make the world a better place.
So, does this sound like a business that you would want to be a part of? If so, keep reading to grab the details on this franchise.
Franchise Details on the Company
There are quite a few considerations that you need to look into before making your final decision on a specific franchise opportunity. The growth of a company could give you a big clue on how popular the opportunity is. And the turnover rate can give you an idea of how healthy the company is. We will be taking a look at both.
You also want to look into what the company offers its franchise owners. There will be certain benefits such as training and sometimes even financial transparency. But let’s not get too far ahead of ourselves. Let’s take a look at the growth of this franchise opportunity since it began in 2004.
Six years after the franchise opportunity started, in 2010, there were a total of 124 franchise locations operating. Then, by the end of 2017, that skyrocketed 401 operating locations. As you can see, for 7 years time, that’s an extreme amount of growth. But how does the turnover rate look?
Which Wich actually has a turnover rate that is slowly increasing. And to be honest, that worries me a little bit. The turnover rate for between 2010 and 2017 was 11.72. Depending on the reasoning behind this rate, it could give us an idea that there may have been too many closings of franchises.
But the good news is, as a franchise owner for this, you will be receiving a decent amount of financial transparency. And that’s not something that every company is willing to provide. So consider yourself lucky if you chose this opportunity.
When you sign up to be a franchise owner, you will receive data undetailed expenses, the average revenue numbers that are broken into quartiles, as well as system-wide average revenue information.
In addition to all of this financial transparency that you receive, you will also be provided with the proper training and support to get started with your business. I believe that that’s a crucial aspect of a franchise opportunity. Proper training. because then everyone will be on the same page, and you will understand how to properly run the business and train your employees as well.
The Requirements and Cost
You’re probably now wondering how much this opportunity is going to cost you. As well as, how many years you’ll be tied into a contract. Both of which are great questions to be asking. And when it comes to this specific company’s franchise opportunity, I can tell you that the fees are just about average for this industry.
Due at signing, will be a $30,000 franchise fee. This will be the first cost that you are responsible for. And by the time everything is said and done, you will have invested anywhere between $172,000 and $458,250. This investment can range widely due to the location of which your franchise is in, as well as certain other factors.
These fees and investments will get you through your first initial agreement term of 10 years. After that term is over, you can then renew your contract for another 5 years if you should choose.
It is important to note, however, that during your agreement term, you are responsile for paying ongoing royalty and advertising fees. These fees will be based on your gross sales. There is a 6% royalty fee and a 4% advertising fee. While the royalty fee is pretty much average, the advertising fee is a little higher than what the competitors are asking for.
But if you feel that you would like to purchase more than one franchise, you will be glad to know that Which Wich offers discounts on multiple units. And you will also receive the right to your territory location. Both of which are great advantages to owning this business.
What’s My Opinion?
With such a popular company that’s well-established, it’s easy to fall victim to jumping in too soon. But that’s what I’m here for. So that you can get the details without worrying if you made the right decision or not.
And honestly, Which Wich has a lot of great attributes when it comes to a franchise opportunity. The price is decent. And it’s a company that holds a strong value and passion for their community. Which is always important, right?
However, the one thing that concerns me a little would be the high turnover rate. Although it’s not ridiculously high, it could still indicate some risk. But, once you figure out the reasoning behind this rate, it may not be so bad.
And the growth is pretty astonishing. So, that is definitely a positive for this opportunity. If it keeps growing at this rate, I can definitely see this business opportunity being extremely successful.
Concluding the Review
Though there are many franchise opportunities available on the market today, not every business is made equally. And that means that not every business opportunity will be the right choice for you. Which is why it is so important to understand every aspect of the company before signing your life away, right?
And that’s exactly what I have attempted to do for you here. Give you the full rundown on the company and its franchise opportunity. Both the good and the bad. So that you can make a well-informed decision based on the facts.
Even if they aren’t that great.
But overall, Which Wich seems to have a pretty decent franchise opportunity going here. They offer a decent amount of benefits that you can take advantage of right off the bat. And the price is average for the industry.
If you feel that this company would be the perfect choice for your new business, then contact the company. Get the full details and ask the most relevant questions so that there is nothing holding you back. Who knows. You may just end up with your own “which” shop in the end.