So it makes sense for someone who has a little money at his fingertips, but doesn`t want to take the risk of opening his own business. In the case of Grocery Outlet, the EXTREMELY food industry is competitive. That means there are grocery stores every street in most major cities. K. Transfer means transferring, rejecting, selling or incriminating, voluntarily or unintentionally, any interest, property or control over the franchise or the essential assets of the franchise or this agreement, voluntarily or involuntarily. Even unlike traditional grocery stores or even places like Whole Foods Market, where I`ve worked for over two decades, grocery stores are independently owned and are subject to a franchise agreement. 4.01 The deductible fee is $17,000. In return for the granting of this deductible, the franchisees agree to pay a one-time initial payment SEVENTEEN THOUSAND ($17,000.00) DOLLARS (plus applicable taxes, if necessary), which must be paid after verification in accordance with the implementation of this Agreement. 4.04 If Franchisor agrees, at its sole discretion, to purchase more than one Your Dollar Store With More franchise, the initial franchise fee for subsequent franchises will be reduced to half of the upfront fee paid by the new franchisees. Franchisor may change the deductible fee for subsequent units in writing after four months.
The initial agreement that founder Jim Read had for its owner operator, was written on a towel. It was for the first owner, Leonard Downs. They need at least $25,000, but they are willing to invest up to $200,000, most of which will fund the business. A lower training salary, an unwritten franchise policy, especially for married couples, and a possible relocation mean that this does not apply to everyone. But some operators make up to 300k a year. Instead of inviting branch managers like most grocery stores, Grocery Outlet prefers to find what they call the independent proprietary operator, the vast majority of whom are married couples. 11.07 This agreement and the documents referred to in it constitute the whole and completeness of the agreement between Franchisor and the franchisee and replaces all previous agreements or assurances. There are no assurances, incentives, promises or agreements between the parties that are not embodied here.