If you are considering a role with Edible Arrangements, you should know that the company operates as a franchise. That means that you should invest your own funds in any new store you chose to manage. The salary of a manager of Edible Arrangements, therefore, depends on how well he runs his store. As with any franchise, a manager's salary depends on the manager's business know-how.
Edible Arrangements is a fresh fruit bouquet company that offers pre-designed or tailor-made bouquets that might also contain chocolate. A total of 1,092 Edible Arrangements stores operate worldwide, with stores in the United States, Canada, China, Saudi Arabia, India, the United Arab Emirates and Qatar, among others. At the time of publication, it was one of the fastest growing private companies in the United States. Edible Arrangements operates as a franchise, meaning that the salary of the franchise managers depends entirely on the profits of each store they manage.
A franchise is where one party, the franchisee pays a fee to another party, the franchiser for the right to produce and sell their product. The franchisee may then use the franchiser's trademarks and will benefit from marketing support in the form of training, advertising and marketing from the franchiser. Franchises give investors an advantage in that they benefit from previously established brands. The manager of the franchisee is responsible for establishing a sound business strategy on behalf of the franchiser. Some franchise opportunities arrange funding opportunities for new managers provided that they pass a satisfactory background check and possess a minimum of capital. For Edible Arrangements, funding is available for investors with a credit score of at least 675 and a net worth of $500,000 or more.
Edible Arrangements Franchises
Edible Arrangements estimate that the total cost of your initial investment in the franchise ranges from $148,208 to $285,218. This includes a grand opening marketing cost of $10,000 training expenses of $1,900. Furthermore, the Edible Arrangements initial franchise fee ranges from $20,000 to $30,000. You should also allow for three months of additional funds ranging from $10,000 to $30,000 and miscellaneous opening costs of between $1,500 to $2,500. Other initial investment costs depend on your location. The cost of a commercial mortgage or rental contract can range from $2,500 to $8,000 a month, not including the security deposit, and the cost of building a new store and fitting it out with equipment can cost up to $160,000. Other costs account for the opening inventory, delivery deposits, signage, printing and insurance.
The amount you earn as a manager of any franchise, including that of an Edible Arrangements franchise, is dependent on the success of your business. In addition to the initial investment of $148,208 to $285,218, you also need to invest further amounts to invest in the early stages of your business. Your salary is then linked to the profits your Edible Arrangements franchise brings in. Let's say, for example, that rent, utilities and employee wages add up to a monthly cost of $50,000 a month. If the franchise takes in a revenue of $60,000 a month, that leaves you with a profit of $10,000 a month. You should not take all of this monthly profit as your salary. Instead, you should only take a fraction of it while treating the rest as retained profits. You can use retained profits to make up for any potential loss in future revenue. They also come in handy for expansion of your franchise.