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Domino's is Australia's largest pizza chain in terms of both sales and number of stores Australia-wide. It is also an internationally acclaimed franchise, spanning over 9 countries and with over 2,450 stores across the globe.
If you're thinking of purchasing your own Domino's store, you can learn about the application process and how to finance your purchase below.
A Domino's franchisee is someone who owns and runs a Domino's store as their own business. Your business, their branding. Franchisee's pay 7% of their profits in royalties to the Domino's brand and up to 6% of their profits towards national advertising.
Franchisees can choose to run their Domino's business alone or as a partnership. While there are no strict limits on how many partners can be involved in the running of the business, Domino's may reject applications with too many partners based on the financial viability of the partnership structure. Domino's also requires their franchisees to have full commitment to the business venture, so no other directorships are permitted.
Once you're the owner of a Domino's store, you can choose to sell at any time.
The process of becoming a Domino's franchisee involves several stages, which include:
Successful applicants will then begin the franchising process, in which you confirm financing arrangements, cash flow projection, store location and the franchise agreement. You are also required to do 12 weeks of intensive training, provided by Domino's.
Buying a Domino's store can vary in cost based on the size and location of the store and the level of the equipment used. A new Domino's store usually costs between $450,000 - $600,000 + GST, and there is an initial franchise fee of $60,000 + GST.
You must organise financing yourself from a bank or other lender. Lenders usually finance up to 60% of the total investment. This means that you must provide an investment of 40% in cash and/or available equity. This is a minimum of $250,000 + GST.
Franchisees will also be required to pay ongoing costs:
There are multiple ways of getting a business loan to finance a Domino's franchise. Domino's does offer to put you in touch with banks that they have relationships with, but you can also consider the following:
Make sure that you compare your franchise finance options carefully before submitting an application for business finance. Once you have found the loan that's right for you, click the "Go to Site" button to start an application.
Domino's has several rigid requirements for aspiring franchisees. You must:
Becoming a Domino's franchisee can carry many benefits. Domino's provides extensive comprehensive training to their franchisees on the running of a successful business, as well as ongoing support in marketing. Domino's will also coordinate the set-up of the store from site approval to supplying and fitting the specified products and equipment.
While any new business carries financial risks, becoming a franchisee could arguably be considered less risky, as you'll be using the internationally well-established Domino's branding and marketing. It may also be cheaper than setting up a food business yourself from scratch.
Like other franchises, Domino's does not disclose the amount of money that its franchisees can expect to make, as there are many factors to running a business that can affect profit margins.
At stage 4 of the application process, Domino's will disclose store-specific financial data to you, where you can see how much other Domino's stores make, to get more of an idea of your expected income as a franchisee.
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