A Day in the Life of a
Bricks & Minifigs® Franchise Owner
Beginning as a franchisee, you have probably done your homework. You know what goes into a location, building team, and the approach you need to take with your market. However, one of the more complicated aspects of franchising is the expenses. At Bricks & Minifigs®, we offer franchising opportunities for you to be your own boss. But you may be hesitant without knowing what the major costs come with being a franchisee. With this in mind, we have put together a list of four major costs that come with opening a franchise location. To learn more about franchising with us, contact us today!
Opening a franchise can be a fairly expensive venture due to all of the legal fees involved in creating a new entity. The franchise fees will include things such as legal costs, accounting fees, branding fees, and licensing fees.
In order for a business location to succeed, it needs customers. Without customers, you are not going to be able to make it profitable and have any chance of succeeding. A good franchise will provide you with industry-specific marketing, advertising, and communications materials in order to keep your brand consistent. Effectively putting these marketing materials to work can be a costly endeavor. However, if you make your business stand out with these efforts, the marketing will start paying for itself.
You will need to be insured and protected to have peace of mind as a public business. These preventative costs can hurt your wallet at first, but they can also avoid potential liability which can be even more damaging. In this way, it is a necessity.
As a business, you need to have a product you are selling to your market. This is where the major costs come into play. Each product needs to be created and packaged. This process can start to add up as you build an inventory of goods. Once your consumer base builds and individuals start purchasing the products from your shop, you won’t even notice the costs that go into your supplies.