Fresh And Co
Fresh And Co offers quick service restaurants featuring fresh, healthy menu items from locally sourced ingredients. Known for its commitment to pure foods without synthetic additives, this franchise operates in the fast-food sector with a focus on health-conscious dining options.
Fresh And Co franchise FAQ
How much does it cost to open one — the total initial investment?
The total estimated initial investment to open an initial Franchised Business ranges from $587,998 to $1,423,500. This range depends on whether the business is a Non-Traditional Location (lower end) or a traditional Restaurant (higher end), and it includes all items outlined in Charts 7.A and 7.B except for the Initial Franchise Fee [p.25].
What is the initial franchise fee?
The initial franchise fee is $45,000, which must be paid upon execution of the Franchise Agreement [p.77]. This fee is non-refundable and deemed fully earned upon payment [p.11].
What are the ongoing royalty and advertising fees?
The ongoing royalty fee is six percent (6%) of the Gross Sales generated by the Franchised Business during the prior reporting/payment period [p.77]. Additionally, there is a brand development fund fee collected from franchisees based on a percentage of their gross revenues, which represents sales-based royalties related to the right to access the company's intellectual property [p.162].
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?
According to the FDD, you can propose to transfer a partial interest in your franchise, but this requires Franchisor's consent. If Franchisor has an option to purchase or a right of first refusal, they may exercise these only if the proposed transferee is not a current owner or family member of a current owner of your franchise [p.141]. Additionally, you can sell or transfer your franchise interest with Franchisor's consent, which they cannot unreasonably withhold [p.197, p.138]. However, the FDD does not specify the exact process or requirements for transferring a full franchise interest [p.141].
On what grounds can the franchisor terminate the agreement?
The franchisor can terminate the agreement on any grounds available by law [p.173]. However, under Virginia Retail Franchising Act Section 13.1-564, it is unlawful for a franchisor to cancel a franchise without reasonable cause unless the default or termination stated in the franchise agreement constitutes 'reasonable cause' as defined by state laws [p.174].
What financial requirements — net worth and liquid capital — do I need to qualify?
This isn't specified in the excerpts. The FDD does not provide specific details on net worth or liquid capital requirements for qualification as a franchisee.
Do I get an exclusive or protected territory?
No, you do not receive an exclusive Designated Territory [p.48, p.196, p.137]. Your territory is only protected from traditional locations of FRESH&CO Restaurants; however, the franchisor can open additional locations at Non-traditional Sites within your designated territory [p.46, p.137].
What training and ongoing support does the franchisor provide?
The franchisor provides initial training programs and may offer additional on-site assistance or training upon request [p.87]. They also may require participation in refresher training programs and an annual meeting, where new methods and techniques are covered, along with opportunities for franchisees to exchange ideas and discuss improvements to the system [p.38]. Attendance at these events is mandatory for certain personnel and incurs expenses such as travel, lodging, and meals [p.38], while a conference attendance fee or penalty may apply for non-attendance [p.38].
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 is permitted to provide financial performance information if there is a reasonable basis for it [p.61]. However, the franchisor does not make any financial performance representations and does not authorize its employees or representatives to make such representations either orally or in writing [p.63]. This isn't specified in the excerpts regarding whether the franchisor shares actual earnings information with prospective franchisees.
What am I restricted to selling, and where must I buy supplies?
You are restricted to only selling the Approved Products and Services as specified by the franchisor. You may not offer or provide any other products/services without prior written consent from the franchisor [p.85]. Additionally, you may have to buy or lease items from the franchisor or a limited group of suppliers designated by them, which might be more expensive than purchasing elsewhere [p.4].