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Just Between Friends Franchise ProfileRetail Franchises > Specialty Retail |
What Are the Initial Investment Requirements for a Just Between Friends Franchise?
To open a Just Between Friends franchise, you should anticipate an initial investment ranging from $66,665 to $97,515. This includes a franchise fee of $24,900. It's essential to have a net worth of at least $100,000 to qualify. The cash required to get started falls within the same range, ensuring you have sufficient funds for setup and initial operations.
What Are the Ongoing Fees for Just Between Friends Franchisees?
Franchisees are expected to pay a royalty fee of 3% on gross sales, along with a marketing fee of 1%. These ongoing fees contribute to the overall support and resources provided by the franchisor, helping to maintain brand presence and drive customer engagement in your local market.
What Is the Average Revenue Potential for a Just Between Friends Franchise?
The average annual revenue per unit for a Just Between Friends franchise is approximately $353,420, with a median revenue of $228,939. Notably, some units have reported revenues as low as $11,213 and as high as $1,940,750, indicating a wide range of performance potential depending on location and management effectiveness.
How Quickly Can You Expect to Break Even with a Just Between Friends Franchise?
Franchisees typically reach breakeven within 12 months of operation, with an investment payback period of around 11 months. This relatively quick return on investment can be attractive for aspiring entrepreneurs looking to establish a profitable business in a short time frame.
Just Between Friends Franchise Financial Requirements
Below, you’ll find an overview of the initial investment needed to launch the business, along with the ongoing fees required by the franchisor to maintain operations over time.
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Just Between Friends Franchise Unit Growth Summary
A breakdown of corporate, franchised, and total units, with yearly net changes shown in the chart and table.
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| Units | 2021 | 2022 | 2023 |
|---|---|---|---|
| Total Units | 158 | 160 | 160 |
| Net Change YoY | +2 | 0 | |
| Franchised Units | 153 | 149 | 148 |
| Net Change YoY | -4 | -1 | |
| Corporate Units | 5 | 11 | 12 |
| Net Change YoY | +6 | +1 |
Initial Investment
The Just Between Friends franchise requires an initial investment ranging from $66,665 to $97,515. This investment includes a franchise fee of $24,900, which grants the rights to operate under the Just Between Friends brand. Aspiring franchisees should also prepare for additional costs associated with setup and operations.
Royalty and Marketing Fees
Franchisees are required to pay a royalty fee of 3% of gross sales, along with a marketing fee of 1%. These fees contribute to the overall brand support and marketing efforts that help drive customer awareness and sales for each franchise location.
Financial Performance
The average annual revenue per Just Between Friends unit is approximately $353,420, with a median revenue of $228,939. This financial performance indicates the potential profitability of the franchise, although revenues can vary significantly, with the lowest reported at $11,213 and the highest at $1,940,750.
Breakeven and Payback Period
Franchisees can expect to reach breakeven within 12 months of operation, making it a relatively quick path to profitability. The investment payback period is also favorable, averaging around 11 months, which is appealing for new business owners looking to recoup their initial investment promptly.
Franchise Growth
Just Between Friends has shown a steady presence in the market, with 148 franchised units in 2023, a slight decrease from 149 in 2022 and 153 in 2021. This stability indicates a mature franchise system that continues to provide opportunities for new franchisees while maintaining a consistent operational framework.
Operational Expenses
Franchisees should anticipate various operational expenses, including insurance costs ranging from $500 to $1,000, advertising expenses between $5,000 and $8,000, and a technology fee of $2,460. Initial additional funds required for the first period can range from $10,250 to $15,250, which is essential for ensuring smooth operations during the startup phase.
Frequently Asked Questions
The initial investment for a Just Between Friends franchise ranges from $66,665 to $97,515, which includes the franchise fee and other startup costs.