Do you want to open a donut shop business by buying Peace Love & Little franchise? If YES, here is how much it cost to open a Peace Love & Little franchise. In 2009 Ron and Marci established the first Peace, Love, and Little Donuts in one of America’s most liveable cities, Pittsburgh, Pennsylvania; Located Directly in the Strip District. By creating their Groovy, Far Out and Funkadelic flavours they knew that they could not lose the incredible taste of their old fashion cake donut.
With that in mind each donut sold by the company was created so that with every bite a customer could taste a fresh, warm donut, the subtle flavour of the company’s frostings and their crazy selection of Funkadelic toppings; with no one flavour overwhelming the others.
According to the company, all their stores work hard to make sure that customers scattered across the United States enjoy those flavours as they intended from the beginning.
Peace Love and Little Donuts offer franchises for the operation of retail stores and outlets featuring donuts and coffee. Peace. Love & Little Donut franchises offer donuts, coffee and related items from stores and other sites the franchisor approves.
Peace, Love and Little Donuts, LLC is a Pennsylvania limited liability company that was formed on June 12, 2012. Their principal place of business is 104 Marshall Drive, Moon Township, Pennsylvania 15018. They began offering franchises in 2016. The number of locations has quickly grown to 28, of which four are company-owned and all are located in the US.
Financial Requirements of Opening a Peace Love and Little Donuts Franchise
- Initial Investment: $121,200 – $235,100
- Net-worth Requirement: $500,000
- Liquid Cash Requirement: $150,000
- Initial Franchise Fee: $40,000 – $40,000
- Ongoing Royalty Fee: 6%
- Ad Royalty Fee: 1%
How to Open a Peace Love and Little Donuts Franchise
Peace Love and Little Donuts have a multi-step process for joining their franchise that may take between 45 and 70 days. Within this time frame, the company will extensively review your application and business plan before approving you as a franchisee candidate. The development stage may take seven to eighteen months. During this time, you will be securing the real estate, constructing your restaurant, and training your crew.
If you feel this franchise is ideal for you and suits your business goals, then you’ll want to submit an application to express your interest. Below are the detailed steps for applying and opening your own Peace Love and Little Donuts location.
1. Submit a Franchise Application
You have to start by filling and submitting a franchise application online. You will be expected to upload a resume during the application process. It’s advisable you review your existing resume and tailor it to your Peace Love and Little Donuts application. Once your application has been received, Peace Love and Little Donuts will send you their franchise disclosure and qualification package. Within this package, you will find and review:
- Peace Love and Little Donuts financial statements
- A copy of the franchise agreement
- A list of existing franchisees who can answer any questions you may have
- Cost breakdowns (advertising, royalties, etc.)
Note that this documentation ensures that you make an informed decision when considering joining the franchise. As you review this package, the company advice you seek the help and guidance of an attorney. Peace Love and Little Donuts will request proof of citizenship and proof of your assets. Also, they will run your credit report and conduct a background check. This completes the initial screening process.
2. Put Together a Detailed Business Plan
At this point, you will meet with a franchise manager. Remember that this is your chance to ask questions to somebody who has experience in opening and running a Peace Love and Little Donuts franchise. Ask as many questions as you can.
Do not forget to contact the list of franchisees provided in your franchise disclosure and qualification package. And note that you also want to leverage this opportunity to make sure this is the right franchise for you. If the feedback you receive confirms this, you can also seek input on how to write your business plan to impress the team charged with approving applications. There are some major elements you’ll want to include when writing your business plan:
- Market analysis
- Potential sites to construct your Peace Love and Little Donuts franchise
- Marketing and sales plan
- Financial plan and projections
3. Get Approved
Now that you must have clearly started the Peace Love and Little Donuts franchise application process, you must have submitted your application, passed the background and credit check, and submitted your business plan. If everything goes well, your application and business plan will be approved.
At this point, your next step is to sign the store development agreement (SDA), which gives you the right to develop a Peace Love and Little Donuts location within a geographical territory. Note that you will also have to sign the franchise agreement, which is a legal contract between you and Peace Love and Little Donuts.
This document outlines what is expected of each party. For example, the franchisee might be expected to open a certain number of units within a timeframe. The franchisor, in turn, may be expected to supply certain marketing materials.
4. Get Ready for Your Grand Opening
Once your application has been approved, it is now time for your training. This will include web-based courses on business management and a three-day business course in Moon Township, Pennsylvania. Also, you will work with a team to help you secure financing, select a site to build your unit, and initiate construction.
Once the construction is complete, you will have to design your store. Always ensure you adhere with the brand requirements and stick with every branding colour. Do not forget you’ll need to onboard your new staff and make sure they are well-trained, your ingredients are fresh, and your coffee strong. All of these will increase your chances of success when you finally open your doors.
Although a very young company, Peace Love and Little Donuts have developed brand recognition, amazing franchisee support, and the potential to make high profits, but joining the Peace Love and Little Donuts franchise requires a certain personality. If you don’t meet experience requirements and personality traits, you might struggle with running your location or even getting your application approved.