Do you want to open a frozen yogurt business by buying Popbar franchise? If YES, here is how much it cost to open Popbar franchise successfully. Popbar is renowned for their handcrafted gelato on a stick made with all natural ingredients. The company offers the traditional gelato treat but they prepare it in the most genuine way, using only real fruit and a handful of ingredients.
Note that all Popbar treats are natural and made fresh daily, blending authenticity with innovation, and served in a new way – on a stick. Popbar makes all their pops in-house daily with all natural, kosher ingredients and there is truly something for everyone, even those looking for gluten, dairy free, vegan options.
Currently, they offer 3 different categories of pops: Gelato (Dairy based), Sorbetto (Fruit based) and Yogurt (Yogurt based), in a variety of flavours. They also offer over 50 recipes, and on any given day, customers can choose from 20-25 flavours, and customize with 5 chocolate dipping and 7 crunchy toppings.
They also offer a very visual experience. At a time when people are more inclined to ordering from text-based menus, Popbar stands out because of the eye-catching display case is their menu – customers order right from the display. In addition, since the pops are so visual, customers often share photos of their creations on social media, which has certainly helped spread the word.
At typical day for a Popbar franchisee starts in their own popLab – in the back of their store – choosing what flavours to bring out in any given day. So if you haven’t made Passion Fruit in a while, or if you are close to Halloween and you are thinking of making Pumpkin Pie gelato, you certainly can do so. The rest of your day as a Popbar franchisee will be spent greeting customers and putting a smile on their faces.
The company usually offers a training session in New York about a month or two before opening the store. They will also spend some time with the franchisees both in their corporate offices and the company’s original West Village location, prepping them for what’s about to come.
Once it gets close to opening, the Popbar team travels to the franchise location and helps set up and train the whole team. The company will also organize a Friends & Family event and a press event. From then, they will steadily keep in touch on a monthly basis (or as needed) and try to organize visits at least once per quarter.
Financial Investment Required to Open a Popbar Franchise
- Initial Investment: $217,000
- Net-worth Requirement: $300,000
- Liquid Cash Requirement: $80,000
- Total Investment: $217,000 – $458,400
- Ongoing Royalty Fee: 6%
- Ad Royalty Fee: 2%
Steps on How to Buy a Popbar Franchise
Popbar’s goal has always been to reinvent the authenticity of gelato and nostalgic feeling to which customers are accustomed, with this kid friendly delight. At Popbar, they boast of using natural ingredients to offer a traditional gelato experience filled with an abundance of taste and fun in each bite.
1. Contact the Company
Note that the first step in owning a Popbar franchise is to contact the organization’s development team. The team will answer any questions you have about the company and what it takes to get started. At this point, you are expected to complete a franchise application in which you must disclose your education, work experience, available financial resources and your overall motivation for wanting to open the franchise.
Also take time to review the franchise disclosure document. This is a pre-sale document that describes important information about the Franchise Company and opportunity.
2. Create a Business Plan and Perform Due Diligence
Immediately the franchise application has been completed, you are adviced to go through a due diligence process. During the due diligence period, you should write a business plan and attend a “discovery day” at the company’s corporate office.
Remember that the discovery day provides additional information about the Popbar s’ brand and gives you the opportunity to meet senior executives. The due diligence period is also the time when you can secure financing for the franchise investment.
3. Franchise Approval Process
At this stage, the company will issue a final approval of your franchise application and execute a franchise agreement. Have it in mind that Popbar has a real estate team that will help you find the right location within your market for the new store.
The team is also charged with helping you negotiate real estate terms and finalize the lease agreement for your space. Prior to opening your business, you must complete a grand opening plan as well as attend training.
4. Prepare for Costs and Starting your Business
You are expected to make a substantial financial investment to own a Popbar franchise. The total investment cost for a location including equipment and real estate can range between $217,000 and $459,000. Consult the financial requirement section mentioned above to get a clear picture of the fees you are expected to pay.
Conclusion
Popbar gelato on a stick is a fun concept and is all natural, easy to eat, and customizable to every individual’s choice. It is a kid-friendly treat which is easily replicable, yet freshly made daily on site to provide an eventful, personalized and memorable experience.
Popbar offers a timeless product that caters to all demographics. Owning your own Popbar location will give you the opportunity to grow into a successful and continuously expanding brand in your own market.