What about Dog Boarding & Daycare Franchises
The Costs are Hair Raising!!!
A Franchise can Cost You A lot of bones
Check out this chart showing annual revenue from our pet resort and what we could have paid out in fees had we chosen to work with a franchise. Almost-
$500,000 by our 7th year ! Really ? Yes !
Cons of Dog Daycare Franchises :
Franchises can be great for products or services consumers shop nationally, or on impulse, such as restaurants like Subway or McDonald’s.
Pet boarding and daycare tends to be a different type of decision—-people are not going to let their precious pet stay just anywhere.
Ask your friends if they know the name of a dog franchise; you’ll find brand awareness for many dog franchises appears to be very low and, for some of their locations, they are not always held in the highest regard.
You Can Expect:
Up Front franchise fee,
there are annual royalties,
marketing fund royalties,
training costs from the franchisor and sometimes more……
there can be a renewal fee,
and transfer fees upon you selling the business.
Best in Show Consulting vs a Franchise :
Understand the details of a franchise commitment.
Make sure you look for this important disclosure ! The franchise disclosure document (FDD) is a legal disclosure document that must be given to individuals interested in buying a U.S. franchise as part of the pre-sale due diligence process. The document contains information about this significant investment. Here is an example :
Source : FDD Research Hub 2020