Are you not ready to take on the risk of being a business owner from scratch, and do you want to be a part of running an established business? Then, Jack in the Box Franchise is the business model you need to invest in. With this article, you will learn the pros, cons, and everything in between you need to know before investing in the Jack in the Box Franchise. So sit tight as we take you through how to be your boss with little to no risk involved.
Franchise Model Overview: How the Business Relationship Works
A Franchise is simply a symbiotic business relationship between the Franchisor (the company/business to be invested in: Jack in the box Franchise)and the Franchisee (The individual or company that wants to invest in the already established company/business. It involves various activities, which include:
The Franchisee Making Initial Investment Payments to the Jack in the Box Company.
This is done after proper documents have been thoroughly read, double-checked, and signed so that the company can hand over the franchisor’s logo, special recipe, location setup, and design, and enable them to start making sales in the name of Jack in the Box.
The Franchisor Shares Everything They Do with the Franchisee
This critical step involves the Franchisor teaching the Franchisee how to make Jack in the Box recipes with Jack in the Box ingredients and techniques, teaching the Franchisee all they need to know to replicate the original Jack in the Box and make their customers happy. With an agreed-upon percentage paid to them in full with every sale made.
Jack in the Box Franchise Cost, Start-up Costs, and Fees
Certain amounts of money are paid before the start of the training program to secure your spot and application.
Start-Up Cost
The initial investment when going for a Jack in the Box is divided into two levels, allowing investors to pick the investment range that best suits them.
Low Range investment, which is approximately $1,810,680
High Range investment, which is roughly $4,207,500
Jack in the Box Franchise Requirements
Requirements for participation in the investment of the Jack in the Box Franchise include;
Franchise Fee, which is $50,000
Minimum Net worth, which is $1,500,000
Minimum Liquidity, which is $500,000
What Franchisees Will Receive
Pre-opening Training Program
With Jack in the Box Franchise, a 10 to 14-week training program is executed to enable Franchisees to know everything about the system and how it is run. This Training covers various topics, including Information Technology, Setting and Achieving Goals, Ordering and Inventory, Marketing and Advertising, and the Point-of-Sale System. With all of this, you are more than equipped to start your company.
Support with Restaurant Setup, Hiring, and Soft Launch
Some Jack in the Box Franchise opportunities you meet when you open a Jack in the Box Franchise are the support you get from the company in terms of set up, hiring, and soft launch. You get to be assisted with procurement and Distribution, Regional Franchise Business consultation, Help desk Availability, etc., to give you a great and solid start.
Access to Consulting, Marketing Tools, and Proprietary Systems
When you open a Jack in the Box Franchise, you’re not left alone but fully aided to maximize your investments, get solid returns, and make your Jack in the Box franchise profits with tools like consulting, marketing, and proprietary systems. This approach creates brand awareness and is used to reach out to customers and ultimately drive traffic to your location by utilizing social media, billboards, Athletic Sponsorship, Radio advertisements, etc.
The Franchise Process: From Application to Grand Opening
Owning a Jack in the Box Franchise involves many active steps and processes that carry you through the journey of making inquiries and picking up an application form to the grand opening of your Jack in the Box Franchise. These steps include;
- Completing the Jack in the Box Franchise inquiry form
- Connecting with the Team and Membership Board
- Completing and submitting the application form for the Franchise
- A thorough review of the Franchise Disclosure Document (FDD)
- Review of your Financial documents for investment sake
- Meeting with the senior operations officer of the operations team
- Finalization of the Franchise development territory and warming up for the grand opening
- Receiving your Franchise agreement and payment of the initial fees payment officially makes you a Jack in the Box franchise owner
- Lastly, start up your orientation and Training.
FAQs
What are the average earnings of a Jack in the Box franchisee?
The average earnings of a Jack in the Box fall between $50,000 – 100,000$
What type of training will I receive as a new Franchisee?
As a new Franchisee, you would undergo the Jack in the Box Franchise pre-training program, which will equip you with everything you need for a successful franchise opening.
How long does the application and approval process take?
It takes 90 -120 days, but is mostly worked on according to your schedule and availability at different times.
Does Jack in the Box help me find and secure a store location?
Yes! As a part of support for you and your newly trained Jack in the Box Franchise owner, Jack in the Box will help you find a suitable location for your business to maximize growth and make enough profits.
Do I have to pay Franchise Fees every year?
No! Not at all. Jack in the Box Franchise does not require franchise fees annually, but just once and for all, which is in the name of the Jack in the Box initial Franchise Fee.
Conclusion
Jack in the Box Franchise is a great platform that enables you to invest and earn wild profits. There are over 2100 branches of Jack in the Box bag franchise, with the majority of that number being Franchised. It is a secure approach to making wealth and will not stop anytime soon.
So do you, invest wisely, and come back smiling to the bank with you.
