FRANCHISE COSTS How much is it to set up a Banjo’s franchise? The cost is dependent on the size of a site, its location, the extent of the works required and any financial incentives we negotiate with a landlord. How much capital will I need? This depends on a variety of factors including size and condition of the site, location and fit out. Capital costs may vary considerably, and we invite you to discuss this issue with us. Your financial statement will provide a basis for us to determine if you have adequate capital available.
Banjo’s strongly recommend that you obtain and maintain independent financial advice throughout this process and indeed in any business venture. Much of the capital required can be borrowed through bank
provided business finance. We recommend that you seek loan approval in principle now so that you have an idea of your capacity. The franchisor has had their franchise business operations accredited by financiers who will assess finance for a Banjo’s store with favourable terms and conditions. Details are available by contacting the franchisor.
What are the benefits of franchising with Banjo’s?
How much money can I make? Profitability is the bottom line of any business and is contingent on a wide variety of factors including but not limited to: system compliance, debt levels, demographics, location, competitors, training, customer preferences, commitment, occupancy costs, expenditure, and other miscellaneous items. Because every individual circumstance is different, no representations as to the profitability or otherwise of a Banjo’s franchise can be given. Banjo’s can only rely on its current track record. How much are Royalties? There is an ongoing royalties fee of 10% of gross sales, payable weekly. The royalty is in consideration of the use of our brand, systems, new product development and Resource Centre support. Please note there are other fees contained in the Franchise Agreement, these can be further explored on the provision of the Disclosure Document. Can I sell my store? Yes. However, any sale is subject to the approval of Banjo’s and a fee is payable to Banjo’s of 5% of the sale price in accordance with the Franchise Agreement. Unexpected expenses? In franchising, as in any business, unexpected expenses may arise. You need to have a business plan that takes into account such occurances when working out funds you will need for the future.
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