Crepe Delicious
Crepe Delicious offers European-style crepes, Panini sandwiches, and gelato through restaurants, kiosks, and food trucks. Known for its sweet and savory crepes, the franchise operates in the quick-service restaurant sector.
Crepe Delicious franchise FAQ
How much does it cost to open one — the total initial investment?
The total initial investment necessary to begin operation varies depending on the type of franchise. For a Restaurant, the range is between $359,250 and $977,600; for a Kiosk, between $298,250 and $689,600; and for a Food Truck, between $177,950 and $426,700. These amounts include an initial franchise fee that ranges from $40,500 to $45,500 paid to the franchisor or its affiliate(s). [p.1]
What is the initial franchise fee?
The initial franchise fee is $35,000 and must be paid upon signing the Franchise Agreement. This fee covers pre-opening assistance provided by the franchisor to help you open your Crepe de licious Business [p.11].
What are the ongoing royalty and advertising fees?
The ongoing royalties are based on sales, with revenue recognized at the later of when subsequent sales occur or when the performance obligation is satisfied. These royalties are billed in the first week of each month and must be paid within thirty days [p.70]. Additionally, franchisees must contribute 3% of their gross revenues to an advertising fund, which is also due and payable with the same billing schedule as royalties [p.89, p.116].
How long is the initial franchise agreement, and can I renew it?
This isn't specified in the excerpts.
Can I sell or transfer my franchise, and what does that require?
Yes, you can sell or transfer your franchise, but it requires meeting several conditions [p.128]. These include obtaining the franchisor's consent, ensuring the transferee meets the franchisor’s standards for new franchisees, paying a transfer fee, refurbishing the location to meet current standards, and providing various documents and assurances that you will not compete with the franchisor within a specified radius for two years [p.128]. This isn't specified in the excerpts.
On what grounds can the franchisor terminate the agreement?
The franchisor can terminate the agreement if there is a failure by the franchisee to comply with any lawful provision of the franchise agreement and the franchisee fails to cure such failure after being given written notice and a reasonable opportunity, which cannot exceed 30 days [p.197, p.6(c)]. Additionally, termination without reasonable cause may be unlawful under Virginia Retail Franchising Act provisions [p.199].
What financial requirements — net worth and liquid capital — do I need to qualify?
This isn't specified in the excerpts.
Do I get an exclusive or protected territory?
No, you will not receive an exclusive territory. You may face competition from other Crepe de licious outlets owned by the company or from competitive brands controlled by them [p.43].
What training and ongoing support does the franchisor provide?
The franchisor provides initial training supervised by Elik Farin, who has conducted the training program since 2012, and other individuals with at least one year of experience in their respective fields. Ongoing support includes supervision from the operations management team members who have been involved in the training for the past five years. [p.40]
How many franchised outlets are there, and how many have closed or been terminated?
This isn't specified in the excerpts.
Does the franchisor share any financial performance or earnings information?
The franchisor may disclose actual or potential financial performance of its outlets if there is a reasonable basis for the information and it is included in the disclosure document [p.53]. However, the franchisor does not make any representations about future financial performance or past performance of company-owned or franchised outlets, nor do they authorize their employees to make such representations except as specified [p.53].
What am I restricted to selling, and where must I buy supplies?
You are restricted to selling only those products and services authorized by the franchisor, which meet their standards and specifications [p.47]. You must purchase all required inventory and supply items from the designated or approved suppliers, including potentially the franchisor or its affiliates [p.105].