08 Sep, 2017

Rita S Italian Ice Franchise

Rita s Italian ice franchise Rita s italian ice franchise story began in 1984 when former Philadelphia firefighter Bob started his business with his wife's name Rita, purchased a recipe of Italian Ice from one of his elderly neighbors and then with the help of his mother made modifications and added real fruits to enhance its taste and flavor. Rita's Ice opened its second store in 1987. Realizing that they had something special Bob and his family decided to franchise their concept in 1989. Today they have 500 locations in 20 states. In 2005 McKnight Capital Partners (a privately held equity firm having widespread experience in franchising) took over the company, as they too realized that Rita's possessed a strong niche market and a successful business model. Though it is privately held commercial and profit making company, it does not ignore its responsibilities towards the communities they serve. One evidence of this is their association with Alex's Lemonade Stand Foundation (ALSF). ALSF is non-profit organization contributing to Pediatric cancer research and finding a cure for disease. Rita s Italian ice franchise enjoys a true, loyal customer base, wide name recognition, a niche market and a strong business model all lending to the value to the franchisee. Rita's offers support to its franchisees in getting started, securing real estate, designing store layout and construction, grand opening, research and development and marketing support. They even offer cutting-edge training facilities called "Cool University" to assist product training and preparation, customer service, financial planning, management training and systems integration. The Initial Franchise Fee $35,000 and total investment range from $198,400 to $385,400 with a 10 year term of agreement which can be renewed at 50% of current franchise fees. Rita s Italian ice franchise is aggressively pursuing growth and seeking quality franchisees. Their rate of growth, successful business model and rate of customer satisfaction all support good ROI to the prospective investor. Of course, when looking to start any business it is important, particularly considering today's market that you look for specific ways to cut minimize or reduce overhead and risk. Any business is going to have risk, but it is important to have a full understanding of the amount of investment, start up cost and "ROI" (Return on Investment). Most people are not aware that 80% of ALL franchise endeavors fail in the first two to five years leaving large debts looming for years thereafter.