Is Crumble Cookie profitable?
Patrick give you a little update & review on the fastest growing cookie franchise in the United States.
It was founded back in 2017 and they’ve had huge growth, expanding throughout the United States.
An important note for visa franchise clients that are interested in obtaining an E-2 visa and might be interested in a cookie franchise like Crumbl, Crumbl right now does not work with those that are seeking an investor visa like the E-2 or EB-5 through an investment in that franchise.
You already need to have a U.S. Green Card if you’re looking to invest and operate a Crumbl franchise in the United States.
For more information, please read here:
#CrumblCookies #CrumblReview #VettedBiz
00:00 About Crumbl Cookies
00:19 Investment amounts
01:41 How much does a crumbl franchisee make?
03:05 Franchisor finalcial staments
04:14 Competition
04:37 Crumbl is the most profitable cookie franchise
05:00 Other “healthier” franchises options
06:04 Conclusion
Hey, this is Patrick Findaro, co-founder at Vetted Biz and Visa Franchise. Today I just wanted to give a little update on the fastest growing cookie franchise in the United States. Crumbl Cookie franchise was founded in Utah.
It was founded back in 2017 and they’ve had huge growth, expanding throughout the United States.
The total investment amount to open a Crumbl Cookie franchise, including additional working capital is $220,000 to $560,000 according to their latest franchise disclosure document.
Some of the most important expenses for a Crumbl Cookies franchise, besides the initial franchise fee of $25,000 are the premises leases. So basically leasing the premise for a three-month period you can expect to pay $16,000 all the way up to $100,000-plus. Real estate and improvements to the space, that’s gonna range from $75,000 to $250,000 and then equipment, furniture, fixtures, décor, etc., supplies. So all those added together with smaller miscellaneous expenses gets the number to $227,000 to $567,000 and it’s really gonna depend on the space that you decide to rent and how much improvements you have to do to that existing space or not.
The advertising expenses for franchisees of Crumbl franchise are 2%, which is pretty in line for a food and beverage franchise.
Now the important part, how much does a Crumbl franchisee make?
If you’re gonna open up a Crumbl franchise or whatever franchise, it’s good that you understand what the potential profit is by looking at the historics. Sixty percent of franchises disclose different financials, including sales and often profit. We see only about 20% of franchises disclose the full profit and loss statement.
Luckily, Crumbl franchise is one of the franchises that is a little more transparent and they disclosed the sales and financials for 14 of their locations. So in the 2019 calendar year, total revenue, the average, was $1.3 million at a gross profit margin of $595,000 and then a net profit of $284,000. So if you’re investing $220k, $230k, and once the business, you know, scales up, you can expect $284,000 in net profit, that’s not a bad deal.
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