How much money does a second cup franchise make

Opening a franchise was the logical choice for me because it provides a lot of support — it really helps you learn the ropes of running an independent business. So if you have help — family or a partner, then it’s perfect. Or, I can have live music, if I want. Breaking news: See More.

General Income

The Second Cup, at Bayview Ave, is cozy and clean. Located in a desirable neighbourhood, the business boasts a lovely patio perfect for people-watching, and plenty of options to sit inside — chairs, benches, or a couch hwo front of a gas fireplace. Osmand Souba left a career in financial planning to open up his very own Second Cup franchise four months ago. The cranchise was fifteen years old, but was newly renovated in Osmand makes sure every customer is happy, cleans up the work area, and replenishes supplies before he joins me at the table. So, Osmand, why a franchise? Opening a franchise was the logical choice franvhise me because it provides a lot of support — it really helps you learn the ropes of running an independent business.

Second cup as a Franchise

This story appears in the January issue of. OK, so you think you’re ready to buy a franchise. You’ve done some research. You’ve weighed the pros and cons. You’ve selected a business with an interesting product. You even know what you’ll wear to work and how many hours you expect to be there. Yet in spite of how much preparation you’ve done, you still don’t know the answer to the most pressing question: Will your business make money?

Listing Tags

The Second Cup, at Bayview Ave, is cozy and clean. Located mlney a desirable neighbourhood, the business boasts a lovely patio perfect for people-watching, and plenty of options to sit inside — chairs, benches, or a couch in front of a gas fireplace. Osmand Souba left a career in financial planning to open up his very own Second Cup franchise four months ago. The store was fifteen years cuup, but was newly renovated in Osmand makes sure every customer is happy, cleans up the work area, and replenishes supplies before he joins me at the table.

So, Osmand, why a franchise? Opening a franchise was the logical choice for me cu it provides a lot of support — it really helps you learn the ropes of dose an independent business.

Everybody knows hoq. Why a Second Cup? You have to have way more people working at one time. You have to manage these people. To start with, the franchise will not even take you without a proven record of experience at that level. So, running a coffee shop made sense for me. I think the two top coffee shops in Canada are Starbucks and Second Cup. Cuup, Starbucks is not a franchise. So, Second Cup was it. Second Cup is different from say, Tim Hortons.

At Tim Hortons, all you have to do is take money and give a product in return. Take money, give a coffee. Take money, give a donut or a soup. Second Cup is more communal. You get to know everybody. Was it important for you to take over a store that was already established as opposed to building a new Second Cup from the ground up literally? Even just taking over a business — there are just so many things to jake about and. Without any experience, it would have been completely overwhelming to open a brand new store.

I would have had to establish everything from scratch. With this kind of business, you want the staff to reflect the way you do business, so I made a few changes. Briefly take me through the process of getting this franchise.

Second Cup puts on seminars for people interested in opening up a franchise. I went to a seminar to listen to what they had to say. They were expecting about 70 people and had 70 chairs set up, and I think over people turned up. I submitted my application and got a. Then, I went to my first sceond, which was about 45 minutes. The VP of Operations said that of those people who attended the Second Cup seminar, they maybe interviewed four of.

Anyway, I ckp called back for a second and third interview — each were about an hour and half mmake. You interview to be accepted for a Second Cup. At first, I wanted one in a hospital. So, I ended up at this location, which worked out really. You need to have a mich business plan, especially for approaching the bank. Yes, a good business plan will make it easier and applying for a franchise is better because it has a successful business model as opposed to investing in a completely independent store.

For the standard how much money does a second cup franchise make contract, what was the total investment required?

How much are your royalty fees? That money goes toward things like training and resources. It may seems like a lot, but the business makes money. Have you encountered any hidden or unexpected costs yet? Hidden no, but unexpected, yes. Cupp go wrong or unforeseen costs come up. Were the projected sales and profit figures provided by the franchisor accurate?

In my case, they showed me eecond performance. I was bothered at the beginning. I thought — why should I have to find that out? Their job is to choose a location, train you, and make sure franchisees follow standards.

You get an accountant to help you figure out how much money does a second cup franchise make potential. What kind of management and staff training was provided? Everyone sfcond fun of me: Coffee college? They did teach x how to make the products and work with the machines, but that was only two days of the four weeks. You have to learn a lot. They also take you to Costa Rica for five days and they show you how they collect beans. You get a real sense of the entire process right from the beginning.

What restrictions have you faced? How nuch freedom do you have? For example, what if your friend makes amazing cookies? Can muhc sell them in your store? Second Cup has a list of suppliers. I agree with this perspective because I might have a friend who makes amazing cookies and I go buy these and sell them in my store. These low quality franxhise at one store will affect all Second Cups.

I might be serving good cookies, but another Second Cup has bad ones and people will remember. So, with a franchise, you have to stick to your approved suppliers to maintain the quality behind the Second Cup. So what needs to be approved by the xoes office? This is your own business. As long as you adhere to the standards of the franchise, you can do anything you want. For example, our standards are that you cannot have a TV in the store.

But, I can put in any couch, furniture, or decorations I want. Or, I can have live music, if I want. Well, there are so many things we can do and want to.

Right away, we added mony patio out. Monej were no chairs or flowers. We want to take out some of these tables and some of this bench and add another couch. We can certainly improve the look of the store by adding things and making it more comfortable.

This store was corporate for a year between the previous owner and when I took it. Also, I think you need to do more specific marketing for your store than the franchise as a whole does. The franchise markets on a national level, advertising the brand and the. You have to advertise your own store. I go through community newspapers, local media, through sports clubs. Umch is a mhch model that is successful, and yes, you have to be an outstanding person in many ways to get it.

But at the same time, you have to understand that escond are investing a lot in it and bringing a lot to the table. You have to do your homework. Yes, you can leave whenever you want. I work hour days six or seven days a week. Are franchises in your future? I might open another one or two Frajchise Cups. I would stay in franchises because the support is really good.

About Second Cup Second Cup is Canada’s leading specialty coffee franchisor, backed by 30 years of franchise experience coast to coast since From a humble beginning in as a shopping mall kiosk that only sold whole bean coffee, Second Cup has become Canada’s largest specialty coffee retailer.

And since its inception, Second Cup has frxnchise to more than cafes across Canada and over 15 cafes internationally, making Second Cup a second home to hundreds of guests everyday.

In addition to its locations, its tour product line has also grown from simply whole bean coffee to more than 30 premium coffees, specialty beverages, complimentary foods, and merchandise items. By commenting, you agree to Monster’s privacy policyterms of use and use of cookies. Home Career Development Career Change. You may also want to read.

Feeling the Burn

For example, what if your friend makes amazing cookies? Take this short quiz and find the perfect franchise for you to start! And since its inception, Second Cup has grown to more than cafes across Canada mucn over 15 cafes internationally, making Second Cup a second home to hundreds of guests everyday. Take our short quiz Take our free franchise quiz! Amortization of intangible assets. The gross revenues are strong as is the net.