So firstly, how much is it to invest in a Cook Stars franchise?

£5,000 (+VAT) if you'd like to run services for 2-12 year olds (minis and juniors).

£6,000 (+VAT) if you'd like to run all services for 12-17 year olds (minis. juniors and academy sessions).

Is that everything, or are there other costs?

There are some requirements we have not added into the franchise ‘package’ pricing because some people will already have them in place. 

We didn’t want to raise the price for everyone because some people won't need these things.  You may already have what's needed ie. a DBS, PLI and a food hygiene certificate and safe-guarding certificate (these are free with the insurance). If you do need all these you’re looking at around £300. 

How quickly can I recoup that investment?

This is a tough one to answer because I don’t know you, your work ethic or what your goals and plans are for your franchise.  It basically boils down to how hard you want to work, how much time you will devote to it and what your ambitions are.

I want to give you some figures to work with though, and so I can tell you that one of our team had recouped the initial investment within 4 months.  She made a PROFIT of over £8,000 in her first 4 month.  For a new business that is incredible!  It's not uncommon that start ups don't make a profit for 2/3 years!  Another made £7,500 from one contract alone during summer holidays!  This is the beauty of a franchise - you'll hit the ground running. 

This franchisee had never run a business before (she was a teacher before) so did not have some unattainable level of business acumen – she simply just worked our franchise system and did it well!  She that took everything we taught her and executed it all beautifully!

Do I need to pay the initial investment upfront?

After you’ve made the decision to become a franchisee (this can take a while for some people, it’s a big decision after all) you will pay a £150 fee for us to prepare the agreement and the area map. 

Then at least 4 weeks before you’re due to start training you will pay the remainder.  We don’t offer repayment plans. We do however work with 2 providers who love our trusted business model who you can speak to about getting a business loan if you don’t have the investment upfront. 

One lender offers a government backed Start Up Loan (impressively low interest rate) and the other is NatWest.  We’ve never had anyone turned away.

Are there ongoing fees?

Yes there are.  We give you 3 months after your training to get going before you have to pay anything to us. We do this very simply because we want you to be in a good financial position before you have to pay any further money out. 

It’s important to us that you are happy with Cook Stars, so it’s a little way to help you out whilst you’re getting to grips with everything. There is a lot to learn at first and we want you to feel relaxed whilst you’re learning the ropes and building your franchise in those important initial months. By the time you come to paying ‘management fees’ as their called, you should be well under way to getting established in your area and have services up and running. 

After those ‘free’ 3 months, like most franchises there is a fee.  For the first year this is 7% and for the remainder of the term it is 9% or our minimum monthly fee. 

When people join Cook Stars, they know if they put the work in-they will do well. It’s beautifully simple and linear.  There is great money to be made if people want to put some work in, and listen to our advice. 

Yes, we do of course charge for what we provide - and rightly so (it’s awesome and we over deliver massively and we’ll happily tell you all about it!).  We are extremely proud of what we offer and the fee we charge. It’s amazing value. 

On a final note....
I know from when we chat to people that the initial investment seems a lot.  It's not by the way, shop around you'll see for yourself!  But I want to share what an investment means.  Apologies if this is glaringly obvious, and I really hope I don't sound in condescending.

The initial fee to buy a franchise is not just a ‘cost’, it is an ‘investment’ and there is an important distinction. 

A ‘cost’ is something that simply goes out and doesn’t give back (if you’re a parent think of your kids bleeding you dry as an example!).  Whereas an investment is where you pay for something that does give you something back in return.  In very simple terms, when you invest in a franchise, the idea is that it then makes you more money than you have spent. 

Significantly more if you put the work in!

I really hope this article helps you understand about the money side. It’s a dry subject I know, but an important one all the same.  

Talking about how you can make money with Cook Stars is infinitely more fun and the really exciting part!  So next week we’ll look at this so you can learn a bit more about how you can make what you want of this opportunity.

Until then, have a great weekend!

Cathy

(Cooks Stars Founder)

x