Franchise Article Author: The Franchise Guide
Brothers Michael and Aaron Serruya, ages 19 and 20, wanted to buy a franchise, but no one would take a chance on them. So they started their own frozen yogurt shop, Yogen Fruz, in 1986 in Toronto, Ontario, and began franchising a year later. Their brother, Simon, joined the company in 1989, the same year Yogen Fruz expanded into the United States. Now based in Markham, Ontario, Yogen Fruz Worldwide has more than 1,520 units across the world in both traditional and nontraditional locations. The company also owns I Can’t Believe It’s Yogurt!,Bresler’s Ice Cream and Yogurt, Swensen’s Ice Cream, and Java Coast Fine Coffees. Entrepreneur magazine ranked Yogen Fruz as number 5 among top 500 franchises in 2002. It was also ranked as number 16 fastest growing franchise of 2002.
Yogen Fruz dominates the frozen yogurt market with diverse and evolving products, store concepts, strong franchise operations and holds major inroads into the growing international market. Today, Yogen Fruz boasts more than 3,600 franchises worldwide. That is due in part to the company's acquisition within the past three years of the Canadian franchise Paradise Juice Bar and the American chain Golden Swirl, as well as I Can't Believe It's Yogurt (ICBIY) and Bresler's Ice Cream & Frozen Yogurt, two American franchises that had already formed strong footholds in the international frozen fare market.
If you want to franchise an outlet then the experienced team of support personnel of Yogen Fruz is there to assist you and you can also take advantage of the experience and wisdom of the other members of the franchise system.The Masters and Non-Traditional and Co-Branding partners are always a support for new franchisees. It provides full training to its franchisees at the head quarters for one week and the franchisee’s location for another one week. It also backs up the franchisees with ongoing support of newsletter, meetings, toll free phone line, grand opening of the outlet, security/safety procedures, field operations and evaluations. It provides its franchisees with good marketing support through national and regional advertising.
You can join the Yogen Fruz as franchisee and make your dreams of owning your own business a reality. Average cost of store is approximately $100,000.00 to $150,000.00. This amount includes all fees, equipment and construction and provides the franchisee with a turnkey operation. Franchising represents the small entrepreneur's best chance to compete with the giant companies that dominate the marketplace. Without franchising, thousands of businesspeople would never have had the opportunity to own their own businesses standards. For franchisees express/kiosk option is available. The franchising fee to be paid is $25K and the ongoing royalty fee is 6%. Term of agreement is for 7 to10 years, and is renewable. Renewal fee is 50% of current franchise fee. In order to qualify as a franchisee you must have a net worth of $150k and a cash liquidity of $75K.You can own more than one franchise units. Number of employees needed to run franchised unit are 4 to 7. Absentee ownership of franchise is not allowed.
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