- You receive a turn-key solution: location, equipment, supplies and training.
- The franchisor will also have a good idea of what locations and demographics work best for their business and this is crucial to success.
- Your business is set up for you all you have to do is undergo training for yourself and the staff and open your doors
- The business model has proven to be successful.
- There is a low failure rate.
- The Franchisor is able to give valuable assistance when you need it.
- It is easier to get a loan for a franchise than a regular start-up
- As a Franchisee you can explore a new industry without having any experience in it and this will allow you to gain knowledge, experience and secrets of the industry
- You benefit from the collective buying power of the group
- You will be buying a business with a built-in loyal customer base
Summary: Buying a Franchise offers you the independence of owning a small business with the added support of a big business network. If you will be looking for regular support, and feel that you need more guidance in the procedures and methodology of your business, a franchise might be the perfect option for you.
- The initial investment is high – but Famous Bean have different models to suit your investment
- Creativity is limited as you have to stick with brand guidelines for both advertising and products that you are allowed to sell – but some of Famous Bean models allow you to choose the products that you sell
- Monthly royalty fees reduce your profit margins – Famous Bean royalty fees are some of the lowest in the industry
- Mistakes of other Franchise stores can impact on your store and the group as a whole – Famous Bean franchisees are owners in their own right, other stores will not necessarily impact your store
- Your financial information is shared with the Franchisor – Famous Bean sign a confidentiality agreement to keep all information confidential
Summary: While franchising is seen by many as a simple way to go into business for the first time, there is no guarantee of success. It is up to the franchise owner to practice principles of good management: informed decision-making, working hard, but smart, good time management and most important serving your customers well.
Famous Bean is a proud team that is made up of a small, select group of professionals, with years of hands-on experience in the food and beverage and hospitality industries. Each café is set up and launched hands-on with the Famous Bean team, ensuring that the franchisee and staff can confidently manage and operate on a daily basis on completion of the café setup. Thereafter, support is always available to ensure the successful operation of the café at all times.
Our core values are as follows:
- Passion and enthusiasm to make the franchise work
- High standards and a drive to achieve them
- Fully focused on the business
- Business sense and experience
- The ability to use own initiative
- Passionate about people
- Service orientated