OUR BRUNCH FRANCHISE DEVELOPMENT DIRECTOR ANSWERS YOUR TOP QUESTIONS!
Hi, everybody! It’s me, Toastique’s Director of Franchise Development, Hailey Hyde, and I’m taking over the Toastique blog today to answer some questions from real brunch franchise candidates.
I’m excited to help you dive into the Toastique breakfast franchise Discovery Process! One of the best parts of my job is giving franchise candidates guidance, advice, and answers to their questions as they research the Toastique concept and determine whether it’s a good fit for them. And then, of course, my very favorite part of my job is watching them become Toastique Franchise Owners and start their path to entrepreneurial success! Here are some of the top questions I’ve received lately, along with their answers.
Let’s get started!
I am concerned about the economy, inflation, and possible recession. Is now really a good time to invest in a Toastique franchise? – Rebecca L., Austin, TX
Now is a great time to invest in a franchise. If we fall into a recession, it is the perfect time to invest your finances into an opportunity that will provide a larger return than other financial investments, including the stock market.
Why is Toastique considered recession-resistant? – Monica D., Boulder, CO
Studies have shown that people are more focused on their health than ever before, with the health-food industry growing year over year. We experienced such growth during the Covid-19 pandemic, with our sales dropping only slightly and our EBITDA stronger than the year prior. While other restaurants were forced to close their doors, we experienced an increase in sales at our Navy Yard location – with limited capacity requirements!
I don’t have experience in the restaurant industry. Can I still be a successful Toastique Franchise Owner? – Nathaniel M., Portland, OR
While restaurant experience is not required of Toastique Owners, it certainly is a plus. However, we have a fully-immersive, two-week training program in Washington, D.C., where we will train you on all things Toastique. Our recipes, processes, inventory, scheduling, and everything else have brought success to our toast Franchise Owners in other markets. Before attending the in-person training, you will also be required to review our cloud-based training materials and pass the accompanying quizzes. We are very hands-on with training and will ensure that all Franchise Owners are well-trained and set up for success.
What are the backgrounds of some of your most successful Franchise Owners? – Greta R., Raleigh, NC
As with our Founder Brianna Keefe, a few of our Franchise Owners come from a background in the hospitality industry, but we’ve also got Owners with backgrounds in fields as diverse as fashion merchandising finance, and even the U.S. Navy!
One of our most successful Franchise Owners is Adrian Lojo, whose Orlando, FL Toastique brunch franchise location just opened its doors in November. He and his father were involved as owners of several McDonald’s franchises, so they have a lot of restaurant experience and understand the franchising world well.
What will my average workday look like? – Michelle P., Tampa, FL
Your typical workday will include working within your restaurant, checking inventories and placing orders where necessary, assisting your team with prep work, greeting guests and acting as the face of your business, receiving inventory, assisting your team with making gourmet products, checking your sales and adjusting your labor as needed. Your most important job will be creating a positive work environment for your team and providing excellent customer service.
Best of all, most Toastique healthy franchise locations are open from 7 AM to 5 PM, which gives our Franchise Owners a healthier work-life balance than many other Franchise Owners in the restaurant industry.
How long will it take for my Toastique franchise location to open? – Curtis N., Grand Rapids, MI
Realistically, you are looking at 12 months to get your doors open. Our real estate team will assist you with site selection and lease negotiations, but these two items tend to take a little time.
How will you help me find and open my location? – Renee A., Houston, TX
Our real estate team will assist you in selecting your perfect location. They will perform market analysis in your area of interest to help you to find the best location. They can also present locations that might not even be on the market yet!
For your grand opening, we will come to your location about two weeks prior to assist you with training your team. We will stick around a couple of weeks after your grand opening to ensure a successful kickoff!
I have a few locations in mind already; can I use these? – Andre O., Charlotte, NC
Locations of interest are welcome; however, we will need approval from the Toastique executive leadership team. Our locations do best in specific areas, so we need to ensure your desired location fits within Toastique’s model.
What are the required funds? – Shay J., Denver, CO
The financial requirements are $150,000 liquid and a net worth of at least $300,000. The investment is estimated from $347,250 to $568,7000 with a single unit franchise fee of $45,000 and a three-pack of $95,000.
I have funds in my 401k; can I use these? – Amir I., Philadelphia, PA
It sounds like you would be a good candidate for a ROBS loan (Rollover for Business Startup). I can refer you to Benetrends for more information and to start the application process.
What is an SBA Loan? – Vanessa S., Las Vegas, NV
An SBA loan is a loan backed by the Small Business Administration, intended for small businesses. They typically have specific requirements, but because the SBA backs them, they often make it easier for small businesses to obtain a business startup loan. I’m happy to say that Toastique is recognized and approved by the Small Business Administration. Anthony Byrd with Benetrends has helped a number of our Franchise Owners obtain financing. I can make the introduction for you.
How much corporate support can I expect to receive as a Toastique Franchise Owner? – Ben J., Tempe, AZ
Wow, where to start? Let’s break it down by the types of support our Franchise Owners receive from day one:
Training: In addition to the two-week immersive training course in Washington, D.C., Toastique provides access to our cloud-based training material as soon as you are a signed Franchise Owner. This training material is not only available for you to achieve success as an Owner, but it also includes materials and resources for you to use to train your team!
Ongoing Support: The training and support will never end as we continue to grow, with bi-monthly calls and annual meetings to keep Owners informed about new happenings, events, and seasonal promotions. We take pride in being available 24/7 for anything our Franchise Owners may need.
Field Support: Using his considerable commercial construction experience, our CFO and Director of Construction, Kyle Izett, will assist you throughout the entire construction and inspections process to ensure that your buildout costs end up at or below market price. He’ll even perform the general contracting of new locations himself with the rest of the Toastique team if Franchise Owners prefer.
Marketing Support: In addition to our dedicated followers on social media, we have partnered with a restaurant marketing group that will virtually introduce you to the neighborhood, assist you with your opening material, and really help you boost your business visibility!
Is there anything we haven’t covered? If you still have a question about owning a Toastique brunch franchise that wasn’t in today’s Q&A, please feel free to reach out! Visit the Toastique franchising website to schedule a call with our Development Manager, who can answer any questions we might have left out today. Hoping to speak with you soon about how you can become Toastique’s next Franchise Owner!