How to Open a Baskin-Robbins Franchise

In 1945 Irv Robbins Started Baskin-Robbins with his brother-in-law Burt Baskin although it was Irv that came up with the idea to serve ice cream mixed with fruit or candy, Burt's name was put first on the store sign because the two men flipped a coin to decide the order of the names. Today, Baskin-Robbins has more than 5,100 locations in more than 50 countries.

Instructions

Difficulty: Moderately Challenging

1. Check out the Baskin-Robbins franchising opportunities within your state through the company's website. Locations are listed for states the company would like to expand in. You can also find seminars taking place in your area to attend if you are thinking of becoming a Baskin-Robbins franchisee.
2. Fill out a Baskin-Robbins franchise application online. You are required to have a net worth of $300,000 and liquid assets of at least $100,000.
3. Understand that Baskin-Robbins requires that you have experience in the industry, general business experience and marketing skills. They also require you to be a team player and leader, a people person, enthusiastic, and committed to fun.
4. Know that you will need an investment of $135,000-522,000 to apply as well as a franchise fee of $30,000.
5. Apply for a business loan from the Small Business Administration (SBA) if you don't have access to that amount of money. The SBA reports that out of the 136 loans for Baskin-Robbins stores taken out through the SBA, only 5.15% have failed to pay back the loan. The SBA has also not completely charged off anyone who has received such a loan.
6. Know that you will need to pay Baskin-Robbins 5.9% of all royalties along with your yearly $30,000 franchise fee.
7. Receive ongoing training support through their headquarters as well as a newsletter, company meetings, a toll-free phone line for assistance, a grand opening, field operators to evaluate the store, and security and safety procedures. You will also receive regional advertising.

Tips & Warnings

• Baskin-Robbins was ranked #22 in a list of best franchises to own from Entrepreneur Magazine in 2006. In 2005. they were ranked #31; in 2004, #10 and in 2003, #14. They did not make Entrepreneur Magazine's top ranking in any franchise category in 2007.