Any solid franchise will make sure your investment includes important elements to help boost your business…
When you pay your franchise fee, you are investing in and joining an exclusive organization with rights and privileges granted to you by the franchisor. Once you do this, you become part of a working, (hopefully proven) system and if you have done your homework well, you know that not all franchise systems are of equal caliber, neither is what they offer as part of their initial franchise fee. As you sign your franchise agreement, you need to be assured that you are entrusting your investment into a stable, trusted and time-tested brand and one of the key ways this becomes evident is by comparing what you get in exchange for your franchise fee payment. It really should be a bit more than the right to join their ranks and carry their banner.
The greatest franchisors will always give you a little more than is commonly provided because when you launch your business and their logo is emblazoned on your store front, they become powerful allies with benefits that begin at the signing of the franchise agreement. Minuteman Press International leads the business services industry with digital print, design and marketing franchises that are continuing, in great numbers, to open doors in communities around the world. Some of the franchise fee inclusions granted to a Minuteman Press franchisee are distinct and serve as potential boosts to the bottom lines for their owners. Some of the special elements of the Minuteman Press franchise fee illustrate why it is important to select wisely from the masses of franchise opportunities available.
Franchisors can help boost your bottom line with uncommon inclusions
Since there is no standard list of services that dictate what franchisors may provide in exchange for their franchise fees, you should know that mature, longstanding brands tend to provided support that is a step above the rest before AND after your grand opening. However, even the assumption that you are getting a great deal because a brand is well known can be risky, so further examination is warranted.
To illustrate real value, Minuteman Press International Regional Vice-Presidents shared some of the reasons why their franchise fee is a cut above the rest:
Pete Scaglione, Regional Vice President located in Texas for Minuteman Press International, breaks the difference between the industry leader he represents and other franchise opportunities, stating, “The cost of the franchise fee for a new store is $45,500.00. There is a lot of work involved in a new store before the doors even open. What makes us different from other franchises is that we perform services before you sign the agreement. Other franchises have you purchase the franchise and then begin the process. We found out reversing this approach has had its benefits. Faster start up for one and less delay on your return on investment. First we agree to an area, preferably close to your residence. We begin the demographics on the area while looking for a location. Once a location has been chosen, that’s when we begin to negotiate the lease on your behalf. We try to get as much free rent and construction cost passed unto the landlord as possible. We also contribute to the construction expense.”
Pete makes clear that Minuteman Press International is aligned with your business, and therefore helps to ease the financial challenges from the start in ways other franchisors do not consider. He explains in further detail, “Understanding the cash and startup cost are very demanding when starting a new business, we actually don’t request royalty or equipment payments to be drawn until the fourth month you’re in business. Once your lease has been signed, you are off to a two week training school, for which we pay airfare and hotel accommodations. While you’re in training, we are back at your store overseeing the renovations as well as taking in deliveries, and setting up of your store. When returning from school we continue your training at your store. We assist in hiring of employees and training of those employees. We then begin the marketing program after the store is fully functional internally. Our approach gives the potential franchisee an opportunity to have fully researched our business and talk with key personnel as well as get to talk with owners, who actually run the business before making a commitment with a franchise agreement. Minuteman Press believes it shouldn’t cost you any money to do your homework on starting a business with us.”
What you see in your franchise agreement is what you get – some elements should be exceptional
Matt Peretz, Minuteman Press International Vice President, says, “The initial franchise fee paid by new owners pays for training, the air fare and lodging in New York during the training. Additionally, it covers the franchise setup period of 40 hours or more as well as the award-winning Minuteman Press system.” Not every franchise system can boast superior training. This is where you need to take the time to examine the details in your franchise agreement before signing and paying that initial fee. What is the benefit of joining an organization if the only training they provide is putting you to work in one of their other locations for a month or so? Not much. Meanwhile, you can pay a similar fee and be welcomed to a state of the art training complex with on-the-job and classroom instruction in a stellar training facility, followed by additional training when you open your location. In a franchise agreement, you are going to be given what is detailed in the document. Make sure it is worthy of your investment.
Jim Little, owner of Minuteman Press Burlington, Wisconsin, knew well enough that the kind of franchisor with whom he intended to partner and help grow his business needed to display such capability at the signing of the agreement, with a franchise fee that offers rich benefits to his business.
Minuteman Press owner Jim Little offers his 3 favorite elements of the Minuteman Press franchise fee:
1. Our Outstanding Training: This is really important because it allows someone that doesn’t have “print” experience to come in and successfully start their business. I bought a store that had never really made any money so it required me being able to jump in and start making it “work” right away. There was no renewal or repeat business to keep the wheels going while I figured things out, but I had the support of the regional vice-president and Minuteman Press International’s proven system along with my own hard work.
2. Our Uncommon Royalty Cap: The royalty cap is a great incentive to owners to grow their business. Rather than a franchise where the more you make the more you pay, it feels like the more you make the better the brand. And of course, the better the brand, the more you make. It is a positive cycle, not one of resentment. The services that we get as part of the franchise don’t change the more we make so it doesn’t ever feel unfair to pay the fees because they’re capped. Without it I would see where eventually it would make sense to drop the franchise. Minuteman Press International keeps the larger stores in the franchise because they have a cap, otherwise these stores would grow and then leave the “brand” or “franchise” so I think the cap is part of what keeps the franchise healthy and always growing/prosperous.
3. Our Store Set-up: Minuteman Press provides a detailed layout of the center – the store was already laid out when I purchased, however when we did an acquisition of another shop and needed to decide what equipment to keep (comparing what they had against what I already had) this was helpful. Not only did MMP help me decide what an appropriate value was in purchasing the equipment but it all helped me decide where to place that equipment in the new shop for the best production work flow.
Unrivaled Support – A distinct advantage, from the beginning
Jeff Robey, Regional Vice President for Minuteman Press in Florida, knows that what he and his colleagues within the corporation offer is superior to common franchise opportunities in terms of franchise fee inclusions. When new franchise owners entrust the potential for success for their businesses with Minuteman Press, the payback rolls in from the beginning. Jeff touches on how he is there to continue training and support on-site and how critical this part of the franchise fee really is to a healthy start. As he says, “Once a new owner leaves the corporate training center a local representative will be with them on site. That person will orchestrate the installation and set-up of equipment and furnishings. They will put into place all production procedures and contact necessary vendors. They will continue the training process in a real life environment and review what has been taught at corporate training center. They will assist in the hiring of necessary personnel doing the interviews and the testing of the applicants. Then begin the marketing efforts helping the new owner to build and promote their business.”
Nick Titus, VP Marketing for Minuteman Press International, highlights a basic truth about business success and that is the need for entrepreneurs to come in strongly with old-fashioned “blood, sweat and tears”. He explains, “No matter how successful or proven a franchise system is, it still takes a lot of hard work from the franchise owners themselves to initiate growth and see that it continues. Even after 40 years, our business is still one in which the franchisee needs to put in a great deal of effort. Many franchise owners are gratified to see how their concentrated effort combined with our unique support provides an extremely valuable formula.”
Jeff adds a final thought that captures something essential as budding entrepreneurs pay their franchise fee and go forward with determination and excitement, assuring them that they are in charge of their business development, but they are not alone. Jeff emphasizes, “In essence, we are there to hold their hand through the grand opening and then beyond through the building of their business. With greater than 40 years of experience, Minuteman Press knows how to get this done.”
To learn more about joining the #1 rated Minuteman Press franchise family, call us at 1-800-645-3006 or simply fill out the contact form on this page.