How can I become part of the iVibe Franchise?
iVibe is teaming with highly-qualified individuals to become franchisees. We have a process that qualifies individuals on many levels including; customer service, market experience, business ownership, personal financial qualifications, motivation, successful track record, the right attitude. If you don’t qualify with every one of these categories, don’t worry. We all have to start somewhere. This business does take work and requires extreme dedication to create success. We really try and team with individuals who have great work ethic, attitude, and a motivation to serve others. If you are interested in pursuing further, please complete our in depth franchise application and a development representative will contact you shortly to discuss.
Do I need to have coffee experience to get involved?
Although we look at coffee experience as a benefit, it is not a mandatory requirement. iVibe Coffee puts more stock in the attitude of our owners and the dedication to service and employee relationships. We want to create a culture of employees that love their jobs. Strong leadership skills are a huge priority for our growth and success. If owners/managers do not have coffee experience there is a good chance we will ask them to become employed at a franchised or corporate location or have an extended training regimen to master the iVibe system prior to opening a new location.
How much do I need personally to start a franchise?
Because owning a business does have a financial component we do suggest owners to have $50,000 in personal resources (liquid assets, cash, marketable securities, stocks, etc.). Additionally an overall net worth (total assets minus total liabilities) of $250,000 to qualify. We understand there are extenuating circumstances and don’t base decisions based on a box of inflexible guidelines. Please contact us directly for questions or additional financial information.
How do I come up with the capital?
Lender financing is not provided through iVibe but can be secured through third-party lending sources. iVibe is a fully approved franchise through the SBA. Seeking out the financial investment for a store is often where the will and desire of future owners is halted. Feel free to reach out to our management team to get support to help you attain your goals. It may require effort and desire to get financing attained but rest assured if you have the will there is a way.
How long does it take to open a store?
Each location is unique in time and cost, depending on a variety of factors. However, we estimate it may take one year from signing the franchise agreement to opening day at your iVibe Coffee Franchise. The general process after signing the FDD is timely because you and your real estate expert must find a property, negotiate a lease, submit for approvals, develop/build the location, and then training and to open the location.
How do I find and develop a location?
Finding a great property must be a team effort. iVibe has a group of commercial realtors searching out new locations for potential franchisees on a daily basis. When becoming a franchisee we offer available properties on a “first come first served” basis. If no available properties are available we suggest two things. First, seek out local commercial realtors to start searching to find the perfect location. We can provide them the information they must know to find the right spot. Second, we have seen great success having individuals search out locations and reach out to local businesses that may have property opportunities.
How much expect to make as a franchisee?
This is always the big question but because of restrictions by the Federal Trade Commission and other state franchise sales regulations we are not allowed to guarantee, promise, or make estimates on any earnings or potential performance. To seek more detailed information we recommend two avenues. First, seek out current owners and talk with them about their experience. Second, once you move forward in the process an FDD (Franchise Disclosure Document) will be provided which breaks down past franchisee information that may be valuable in making the final decision.
After I open what can I expect for help?
At iVibe we have a continuing education plan that we feel is absolutely necessary for the fast moving changes within business today. Additional training will be delivered on site, through videos, from Standard Operating Procedures (SOP’S) update documents, and development/leadership seminars. The strength of iVibe also comes from the contacts and resources from within the franchise. If ever you have a question there will be a point of contact for the answer. Our philosophy on help is… if I don’t have an answer, I will find someone who does. Alone we can do so little, but together we can do great things.
What kind of training is incorporated in starting?
All new franchisees participate in a 4 week training program which incorporates every component of operating a new franchise. This process will consist of classroom, at home study components, off site training, and a majority of real life management experience by way of our apprenticeship program in a franchised location. Once completed every franchisee will receive regular updates, continuing education, management/leadership training, and on site reviews.
What are the franchise fees?
Upfront there is a $20,000 franchise fee that covers all franchise costs through grand opening. After the store begins doing business there is a fee of 6% gross earnings paid to iVibe Coffee. 5% of this fee is for iVibe support, infrastructure, and administration and the additional 1% is used for local and national advertising.
*Please see the iVibe’s Salute to Service tab for honorably discharged military personnel*