Frequently Asked Questions
Want to learn more about being a Betsey’s Boutique Shop franchise owner?
Here are answers to some frequently asked questions:
What does it take to own a retail shop franchise with Betsey’s Boutique Shop?
It is not necessary that Betsey’s Boutique Shop franchisees have prior business ownership experience before joining our program. Some retail operations or business management experience is beneficial, as well as leadership, relationship-building, problem-solving and customer-service skills. A solid work ethic and attention to detail is important, too. Above all, though, we look for people who can demonstrate a passion for fashion, and who have a positive attitude, and who are enthusiastic, personable, and confident. Sound like you? We’d love to talk to you!
What is provided as part of the Betsey’s Boutique Shop franchise system?
Prior to attending our initial training program, you will be required to review our confidential operations manual and participate in an online training program offered by our approved POS vendor. It is anticipated that completing these tasks may take up to 15 hours. We will then provide a pre-opening training program, lasting up to five days, at our corporate headquarters. Then, one of our trained franchise representatives will spend up to three days in two separate trips to your store, to provide onsite assistance around the time of your store opening. During these visits, we may assist with merchandising, fashion consulting, working with the POS system and the overall operation of the business. Of course, after you are open for business, we will be there to provide remote support and ongoing guidance, and answer questions you may have. And, we will present you with a copy of our confidential operations manual to help you run your retail shop franchise properly on a day-to-day basis.
How much will the Betsey’s Boutique Shop franchise investment cost me?
The projected initial investment range for a single start-up franchise ranges from $125,135 to $218,850. This investment amount includes an initial franchise fee of $30,000. As with any new business venture, it’s important that you have the capital needed to adequately fund your new business.
Are there other ongoing fees paid to the franchisor?
Franchisees will pay a royalty fees equal to 6% of semimonthly gross revenues (or a minimum flat fee, whichever greater), as well as up to $250 per month in technology fees for ongoing software and technical support. These fees allow us to fund our ongoing support services and the continued development of inventory resources, marketing tools, training programs, and systems upgrades.
Are there any advertising fees?
Franchisees are required to spend 1% of gross revenues monthly on local marketing and promotions in their area. In addition, franchisees will contribute up to 3% of gross revenues into the brand development fund. Collected funds will be used to develop marketing strategies to promote the Betsey’s Boutique Shop brand and fund the creative costs to develop local franchise marketing materials and other promotional and concept-related tools and campaigns.
Is financing available?
We do not offer direct financing to franchisees. We may be able to provide references to qualified financing or lending resources, on a case-by-case basis.
What is the term of the franchise agreement?
The initial term of your franchise agreement is eight years, with two additional successor agreement options of eight years each.