Toastique
Toastique offers gourmet toast and juice bar franchises serving fresh, seasonal meals in the fast-casual dining industry. Known for its creative toast styles and healthy menu options, Toastique provides individual or multi-unit development opportunities.
About Toastique
Toastique franchise FAQ
How much does it cost to open one — the total initial investment?
The total estimated initial investment to open one Toastique Restaurant is reflected in Table A of this Item 7. According to [p.1], this includes $93,000 to $95,000 that must be paid to the franchisor or its affiliates. This amount is part of the broader total investment range of $370,117 to $846,342 for a single Toastique Restaurant under a franchise agreement. [p.26] and [p.27] provide more detailed ranges based on different multi-franchise addendums or development agreements, but the initial investment specifically for one restaurant is within this range.
What is the initial franchise fee?
The initial franchise fee varies based on the number of franchises and can range from $55,000 for a single unit to up to $170,000 for a 1-5 Multi-Franchise Addendum. For the first development restaurant, it is specifically stated as $55,000 [p.230].
What are the ongoing royalty and advertising fees?
The ongoing royalty fee is 6% of weekly gross sales [p.120]. The franchisee is responsible for reporting this information through a Royalty and Activity Report each week [p.121], and the Company expenses its advertising costs as incurred, with expenditures of $439,300, $383,473, and $222,238 in the years ended December 31, 2024, 2023, and 2022, respectively [p.91]. This isn't specified in the excerpts regarding advertising fees that are to be paid by franchisees.
How long is the initial franchise agreement, and can I renew it?
The initial franchise agreement typically lasts for a period of ten years [p.92]. You have the option to renew the franchise for one additional 10-year term under certain conditions [p.147], but this renewal option is not available if the business was previously operated or developed under a prior Franchise Agreement with the franchisor or its predecessors.
Can I sell or transfer my franchise, and what does that require?
Yes, you can sell or transfer your franchise, but it requires Franchisor's approval. The transferee must meet certain criteria including having good moral character, sufficient business experience, aptitude, and financial resources to operate a Toastique Restaurant, and not owning or operating a Competitive Business. This is detailed in [p.145] and [p.143].
On what grounds can the franchisor terminate the agreement?
The franchisor can terminate the agreement on any grounds available by law [p.249]. Additionally, the franchisor can terminate for good cause, which includes the franchisee's failure to comply with lawful provisions of the franchise agreement and failing to cure such failures after receiving written notice and a reasonable opportunity to cure, not exceeding 30 days [p.5; p.245].
What financial requirements — net worth and liquid capital — do I need to qualify?
Based on the provided excerpts, there are no explicit financial requirement details for your personal net worth. However, you must maintain sufficient working capital at all times to fulfill your obligations under the agreement [p.130]. The franchisor requires that cash equivalents be highly liquid investments maturing in three months or less, with amounts varying from year to year as shown on their balance sheets [p.89]. This isn't specified in the excerpts.
Do I get an exclusive or protected territory?
No, you do not receive an exclusive territory. You may face competition from other franchisees, outlets owned by the company, or other channels of distribution or competitive brands that the company controls [p.41].
What training and ongoing support does the franchisor provide?
The franchisor provides an initial Training Program that includes both classroom and on-the-job instruction, conducted at a location or facility designated by them. This program is structured by the franchisor and may involve various phases, including interactive Webinar sessions and on-site training. Ongoing support involves Franchisee being responsible for training employees to meet the franchisor's standards, with specific requirements outlined in the FDD [p.117].
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?
Yes, the franchisor shares financial performance data for its operational company-owned outlets. However, this data is not prepared on a basis consistent with generally accepted accounting principles [p.56]. The franchisor does not make representations about future financial performance and does not authorize employees to do so either orally or in writing [p.65].
What am I restricted to selling, and where must I buy supplies?
You are required to exclusively offer and serve the Approved Services and Products as per [p.127]. Additionally, you must purchase or lease certain source-restricted goods and services from designated suppliers, including those specified by the franchisor, which may be more expensive than alternatives [p.3].