Have you ever wanted to run a successful shop? Perhaps opening a franchise is the right option?
There are many new franchises taking Ireland by storm, from American style frozen yogurt shops to innovative new urban gyms.
While many have seen huge successes, others fail. Here we look at the advantages and disadvantages of buying a franchise as well as the typical fees involved in Ireland’s newest franchises.
Chopped
The healthy food company Chopped was set up by Dublin-based entrepreneurs, Brian Lee (pictured above) and Andy Chen in 2012. They developed the ‘traditional’ salad bar to meet the growing needs of healthy minded eaters in the city. The first Chopped opened in 2012, and there are now 11 shops across the capital.
According to its website, to become a part of the franchise, there is a fee of €20,000. If you want to open a Chopped store, the turnkey capital cost will be approximately €160,000. This includes a provision for working capital.
Once your franchise is set up the continuing costs include:
Franchise royalty: 6pc of net sales.
Marketing contribution: 2pc of net sales.
Mooch
Mooch, the frozen yoghurt shop, was set up in Dublin in 2010 after the owners Declan and Suzanne saw the success of frozen yoghurt in New York.
The company now has two shops in Dublin while the frozen yoghurt appeal has spread across the country.
Hillybillys
The fast food chicken restaurant was established in 1997 in Cork by Michael Grace, but in recent years it has developed into a franchise.
It opened its first franchised restaurant in Letterkenny, Co. Donegal in April 2011. Today the chain has ten locations throughout Ireland, including three restaurants in Cork, and restaurants in Derry, Dublin, Ennis, Galway, Letterkenny, Tralee, and Waterford.
Sásta
Sásta is a fitness franchise that uses treadmill fitness pods to help members lose weight. The franchise was founded in 2010.
With headquarters in
