Franchisee requirements:
- •Net worth of a minimum $1,000,000
- •Liquid assets (assets that can be easily converted to cash) of $500,000
- •No more than 80% of the start-up costs can be borrowed
- •Ability to attend an 8 week on-site training program that will include weekends
- •Must be an active participant in the operation of your business
Franchise Fees and Royalties:
- •Single unit franchise fee of $35,000 is due upon signing of franchise agreement
- •Royalty rate of 5% based on weekly sales
- •Required Local Advertising Expenditures of 2% of annual gross sales
- •Contribution to Wet Willie's "National Brand Fund", 1.5% based on weekly gross sales
Requirements and Costs Statement:
Your Initial Investment can vary depending on your geographic location, your chosen location and condition of your franchise, your choices in design and construction, your rent, other fees related to licensing and permitting, and miscellaneous factors. In our experience, the initial investment required to startup a Wet Willie's ranges from $716,500 to $1,608,000. These costs may vary and include the franchise fee, cost of furniture, fixtures, and equipment, leasehold improvements, initial inventory, pre-opening advertising and other expenses.
While we do allow financing of your Wet Willie's franchise location, we require you finance no more than 80% of those costs. We also require you to have sufficient working capital to maintain your franchise business for at least 90 days once your location has opened. Failure to maintain sufficient working capital throughout the life of your franchise is a material breach of your franchise agreement and will put your franchise business at risk.
