Starting a business can be a daunting experience full of uncertainties. At Flying Wedge, we understand this. To assist you further, we have compiled a list of the frequently-asked questions regarding purchasing a Flying Wedge Pizza franchise. Click on any link below for an explanation:
Q. Why should I purchase a franchise?
When you purchase a franchise, you are essentially buying someone else’s proven formula for the business. Any hiccups and/or roadblocks have already been encountered, corrected and factored out of the business plan. In essence, you are paying for and getting in return the brand and product development, purchasing power, advertising and marketing expertise, etc.
The success rate for a franchise-owned business is significantly better than the success rate for many independent businesses. Research indicates that the average unit volume of sales for independent “mom-and-pop” operations is just about half the national average unit for a franchise chain (source: Pizza Market Quarterly).
Q. How much will it cost me to acquire a Flying Wedge franchise?
Your initial investment to acquire a license to operate a Flying Wedge franchise is $35,000. Your total investment will vary from project to project depending on the square footage of the store, but the present estimated range for 1,200 sq. ft new store construction is: $359,000. A minimum of $139,000 in unencumbered cash is required for you to qualify for a government small business loan (SBL).
The following key factors help to determine what your total amount will be and will allow our Development Department to prepare a more accurate estimate for you:
Renovating an existing restaurant versus converting a non-restaurant location
Cost of development and new construction in your particular market
Size of the store (total square footage) and system options that are chosen
Efficiency of the construction manager
Equipment and package options chosen
Q. What market(s) is Flying Wedge considering expansion into?
We are conservatively entering new markets and are seeking qualified franchisees for the following areas:
· BC Interior*
· East Vancouver
· Nanaimo, BC**
· New Westminster
· North Burnaby
· Pitt Meadows
· Victoria **
· West Vancouver
*In the BC Interior, territory development and master franchise opportunities are available in Kelowna
**Territory development and master franchise opportunities are available on Vancouver Island
***Territory development and master franchise opportunities are available Calgary
The corporate mandate is to fulfill 30+ units in BC and Alberta. Expansion into the Pacific Northwest will follow.
Q. What is the pizza industry like these days?
The pizza business has dominated throughout all economies, trends and diet fads to-date. It remains as one of the largest contributors to the food-service segment of our economy and will continue, as both demands for quality and convenience are a lifestyle necessity. Even in tougher economic times quality fast food will remain an affordable luxury.
- The entire pizza industry amounts to approximately $33-billion per year
- Ninety-three percent of all North American households order pizza at least once a month
- Sixty-five percent of pizza sales is generated from take-out and delivery
- The nation’s Italian and pizza restaurants are growing faster than any other segment in the QSR food service industry
Q. How does Flying Wedge select a location for me?
Flying Wedge works closely with an expert to examine every single location of interest. Since 1989, Flying Wedge has reviewed hundreds of potential sites of all shapes and sizes. The selection and lease process is so selective that Flying Wedge rejects many more sites than we approve. While no location is ever a guaranteed success, we strive to get the best locations, best lease rates and best terms possible. As a result, Flying Wedge has secured the kind of locations that has made us well known to-date.
Q. Can I also look for a location for my future store?
Flying Wedge is constantly looking for the best locations, often before the location becomes available to the general public. However, some locations can have such a high retail demand that there may be an extended wait period. In these instances, we work closely with you to determine the best decision given the conditions. At any time, you are free to look for a potential location, although Flying Wedge always gives the final approval.
Q. How long will it take for me to be approved and build my store?
The application process from the date of your initial inquiry to the executive approval will take from two to six weeks. Once your application has received executive approval, the timeframe to opening day will depend on whether you are simply renovating an existing restaurant, converting a retail space or constructing a new space from the ground up. This can take anywhere from three -12months. Any related permit application for your jurisdiction will also affect this timeframe.
Q. What kind of royalties are you expecting from me?
The current royalty paid by franchisees to the franchisor for the use of the brand and trademark is 6.0% of gross sales. The current combined advertising, promotions, research and development rate paid by the franchisees is 4.5% of gross sales. This adds up to a total of 10.5% for all the support you will need to grow your business.
Q. What can I expect for a return on my investment?
Q. What support will be given to my franchise location?
Our franchise organization is designed to provide you with the tools and support you need to make your restaurant the first choice for people who love quality pizza (and lots of it). The support begins before you open your store: our Development Department assists in creating the Flying Wedge environment (this includes everything from coordinating the design, construction and installation).
Once your store is open, follow-up support will be provided to ensure that Flying Wedge systems are in place and being monitored. On-going support will also include budgeting, local store marketing (LSM), product development and human resources recommendations.
Q. What kind of training will Flying Wedge provide for me and my staff? What will this cost?
You can open your restaurant with the confidence and knowledge that you have received comprehensive training. The more thorough you are in completing and following-up on all your tasks, the smoother your operations will run. In case you are still a little nervous on opening day, Flying Wedge will be there with you monitoring, supporting and checking up on you during set scheduled visits (this will amount to over 160 hours).
Q. What standards will Flying Wedge set for me?
You will find that we have taken care of every aspect of the Flying Wedge experience for you. This includes interior design, layout, menu, food suppliers, recipe layout, product specifications, health issues, safety standards, and advertising and promotions. Your adherence to these standards is what will make your Flying Wedge franchise a success.
We look for individuals who are deeply committed to upholding quality standards above all else and are prepared to execute these as a core belief. It is the consistency and quality of these standards that reinforces our brand and ensures that every single customer who comes to Flying Wedge is consistently satisfied beyond their expectations.
Q. Do I need previous restaurant experience?
No, you do not need previous restaurant experience. However, any experience you have gained in any area of food service will help you out tremendously. More than anything else, a sound business sense, ability to follow-through and complete tasks efficiently, marketing skills and an unwavering commitment to making and serving the best pizza in Vancouver are the qualities that will help you succeed as a Flying Wedge franchisee. If you do not have previous restaurant experience, we look for previous customer service and/or proven management skills and practices.
Q. How do I know I qualify to run a Flying Wedge franchise?
If you answer yes to any of the following, there is a chance that you are an ideal fit for Flying Wedge:
· Have you successfully operated and/or managed a small business or department the size and scope of Flying Wedge?
· Do you have excellent management skills (especially important if you do not have previous restaurant experience)?
· Do you have a thorough understanding of the market in which you wish to open your franchise (for example, living conditions, business conditions and cultural climate)?
· Are you comfortable in sales and willing to promote yourself and your business in your local area?
· Do you and/or your business partner(s) have sufficient unencumbered capital (approximately $139,000 to invest in your location and extra for contingency and cash flow purposes)?
· Do you have a sincere desire to be a part of a successful franchise and a passion for our product?
· Are you ready to commit to working full-time (sometimes up to 16 hours a day) in and out of your store building customer relations and goodwill amongst your staff members?
· Do you have excellent communication and organizational skills?
· Do you have strong work ethics?
Excellent people are required in every aspect of the business. Whether someone is buying ingredients, making our sauces, baking our pizzas, taking customers’ orders, or creating new Flying Wedge flavours, it is absolutely critical that each person has the passion and willingness to do the job to the best of their abilities.
“We are only interested in franchisee’s and employees who share our enthusiasm for making and serving award-winning pizza!”
Running a successful Flying Wedge restaurant is a full-time and personal commitment. It requires energy and passion, but watching your customers enjoy a mouth-watering slice of Flying Wedge Pizza and return for more is the ultimate reward!
Q. What if I am interested in running a whole territory or multiple stores?
If you are interested in a particular territory or running multiple stores, the following additional criteria must be in place:
A development agreement which specifies the number of sites and the timeframe in which they must be built
The financial ability to operate two or more stores
The managerial capability and personnel to operate two or more stores
You will be required to submit a proposal detailing all aspects of your business plan, management, and shareholder and operating structures.
If you have looked over our information and wish to investigate Flying Wedge opportunities further, please complete the Franchise Question Form and Confidential Statement of Affairs and forward this to our corporate head office. Once it is determined that you qualify, the franchise application starts: you will be contacted for an interview and the exchange of information will take place.
We also recommend that you seek legal and accounting advice to help you make fully-informed business decisions. If you have questions that we did not address above, please feel free to contact us. Thank you for your interest in Flying Wedge Pizza!
Click here to find out more
Phone: Yvette Pepper (604) 681-1288 or 1-888-681-1288
Fax: (604) 681-1258 or 1-888-681-1258
We look forward to speaking with you!