should i open my own bussiness.......?

Question

i want to open a cold stone creamery near binghamton univerisity... do u think it would be sucessful... and how much would it cost to open a franchise? plz help

who should i chose for best answer, di and fano both gave good answers?

Answer 1

plan to spend from $294,250 to $438,850 just starting the store. Plan on devoting 7 days a week from before the store opens till the store closes until you can get employees that you can depend on and trust.

Answer 2

The following table contains the financial requirements for owning your own Cold Stone Creamery® franchise:
Low High
Initial Franchise Fee $42,000 $42,000
Travel & Living Expenses While Training $500 $5,000
Real Estate $6,500 $26,000
Architectural Fees $4,000 $10,000
Leasehold Improvements $90,000 $170,000
Exterior & Interior Signage $9,700 $15,200
Equipment $91,300 $111,300
Initial Inventory $8,000 $8,000
Employee Uniforms $500 $800
Grand Opening $100 $5,000
Insurance Premiums $500 $2,500
Permits & Licenses $2,000 $3,000
Telephone & Utility Deposits & Hookups $250 $1,000
Miscellaneous $3,800 $3,800
Computer Training and Food Safety Certification Course $100 $250
Additional Funds/Working Capital-3 months
$35,000 $35,000
Total $294,250 $438,850

Answer 3

Here is some data from a survey of current Cold Stone Creamery franchisees. It may be helpful to you.

In what ways could the parent company most improve? (Please check those that most apply, no more than three (nine options provided)):

Most frequent responses: % answering
Technology= 64%
Communications = 50%
Counsel /advice on administrative/management issues= 36%

Prior to opening your franchise, which (if any) of the following did you underestimate (seven options provided)?

Most frequent responses: % answering
Degree of stress= 60%
Amount of working capital required for 1st year in business (tie)= 30%
Difficulty in hiring/retaining quality staff (tie)= 30%

Is your income more, less or about what you expected prior to opening your business?
% answering
More = 10%
Less = 30%
About what was expected = 60%
Summary: 70% are making about what they expected, or more.

If you could turn back time to the day you signed your franchise agreement, would you make the same decision to buy your franchise?
% answering
Yes= 70%
No= 30%

Good luck!