Frequently Asked Questions Q : A :
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Are the franchises available for existing store or new stores? The franchises available are for new stores only. From time to time existing stores becomes available for sale and we can refer you to the appropri ate franchisee handling the sale. However, note that goodwill may be associated with such a sale. In some cases an existing store may cost less than a new store, in other cases the proven sales record may attract significant goodwill.
Do you get a territory with the Franchise and how do you assess the boundaries? Each franchise includes a territory. If the franchise site is located internally within a shopping centre (i.e. a food court) then the territory is limited to the shopping centre. If the store is an external store located on a boundary of a shopping centre or on a main road then the territory includes a surround ing geographical area based on approximately 18,000 – 20,000 people or 10,000 house holds(whichever is achieved first). The Noodle Box territories are selected based the following criteria: • Attractors within shopping centre – i.e. video store, supermarket, chemists • Office/ commercial buildings – to drive lunch & delivery trade • Competing food premises • High traffic stores nearby • Turnover of surrounding businesses • History of shopping strip • Quality of other businesses • Quality of council’s renovations and upkeep of the strip
How do you find a site for a store? Sites are selected with regard to: • Size and shape of store • Useable amenities – grease trap, front windows, ceiling height, gas, flooring, 3 phase power, delivery access • Parking options • Existing permits • Placement within shopping centre / strip • Exposure • Easy access for ducts • Air conditioning • Al fresco dining options • Lease considerations • Rental • Lease options
Page 1 of 3 Information provided by Noodle Box and correct as of 16/1/13 - while all care is taken, information should always be confirmed with franchisor. To contact Noodle Box, call Michael Standley, Franchise Sales Manager, at 0416 256 338 or send an email to michael@noodlebox.com.au
www.franchisebuyer.com.au
Frequently Asked Questions Q : A :
How much does the franchise cost?
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What other costs are you likely to incur?
As the franchise will be for a new store costs can vary subject to the location of the store, size and existing services provided. As a guide ONLY, new stores cost approximately $350,000 – $450,000 which includes the franchise fee. (See Disclosure Document for more details.
In addition to the real cost of the store and the Noodle Box Franchise Fee there are other costs associated with the setup of any new business and that we recommend you should take into consideration including initial capital for cash flow, staff training, costs of delays in opening, opening stock requirements, etc. This would be discussed with you at a later stage, however we encourage all applications to seek advice on these matters.
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What fees are payable to Noodle Box?
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How much money can I make as a Noodle Box Franchisee?
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How long does the process take to open a Noodle Box Store?
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An initial Franchisee fee is payable on all stores. The franchisee also pays a monthly royalty and marketing contribution which is based on a percentage of sales. Additional fees are required in the event of renewal or an approved transfer of the franchise to another franchisee.
The profitability of a store is dependent on many factors, including, but not limited to, the effort of the franchisee and his/her staff, the service and quality of product you maintain, the location, competition, sales volume, rent and management. Profitability is ultimately a matter within the control of each franchisee. It’s your business!
Once a franchise application had been approved and an agreed territory is assigned the time taken to open a store will be very much dependent upon finding a suitable site. Noodle Box will make every effort to secure an acceptable store, however as a prospective franchisee, you should be aware that it can take some time to secure a suitable site and you should be prepared to maintain alternative streams of revenue until a site is proposed and accepted.
Do I need to have experience? The Noodle Box seeks businesses or individuals who have a belief in the brand combined with an entrepreneurial spirit, proven management track record, a high level of commitment to customer service, commitment to be involved in the business and to the Noodle Box way of doing business, and a vision and enthusiasm for a long term growth of the business. If you have never run a small business previously you should take detailed and careful advice from your advisor and family. Retail and/or fast food experience is desirable but not necessary.
Page 2 of 3 Information provided by Noodle Box and correct as of 16/1/13 - while all care is taken, information should always be confirmed with franchisor. To contact Noodle Box, call Michael Standley, Franchise Sales Manager, at 0416 256 338 or send an email to michael@noodlebox.com.au
www.franchisebuyer.com.au
Frequently Asked Questions Q : A :
What training do you get? The training is a 4 week program that is broken up to 3 modules. CORPORATE STORE TRAINING A day by day training program that follows our franchisee training manual and ensures that our franchisees are proficient and professional in operating a Noodle Box outlet at the completion of 10 days including POS system, customer service ordering of stock and cost of goods control, staff recruitment and staff management, preparation of meals, understanding the concept and an overall familiarisation of the Noodle Box concept. FINANCIAL MANAGEMENT This module includes roster control, understanding profit and loss, educating the franchisee on Micro Management of their outlet, breakeven analysis and cost controls. ON SITE TRAINING Once the franchise outlet is ready for opening Noodle Box deploys a company chef trainer to ensure that all back of house kitchen functions are compliant with the Noodle Box standards and to ensure that the kitchen staff are fully operational and functioning to our system requirements. Noodle Box also deploys a Trainer for a 28 day period to help induct new employees and to support the franchisee to ensure that the franchisee is up to speed and maintaining the Noodle Box standards.
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How can you finance your business?
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How much time would you need to commit?
There are many ways to finance a new business. You may: • Borrow against existing personal assets • Borrow a portion against the plant and equipment purchased from the business • Use ready cash from the sale of an existing business or property In addition to these options, Noodle Box has been approved as an accredited franchisor by some financial institutions and this allows our franchisees to borrow up to 50% of the value of their Noodle Box store using the store assets as security.
Noodle Box believes that it is vital that the individual owners of our stores work in them and remain familiar with all aspects of their operation. In all single site Franchises the Franchisee will, in effect be the productive store manager of the store.
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Information provided by Noodle Box and correct as of 16/1/13 - while all care is taken, information should always be confirmed with franchisor. To contact Noodle Box, call Michael Standley, Franchise Sales Manager, at 0416 256 338 or send an email to michael@noodlebox.com.au
www.franchisebuyer.com.au