Get Your Questions Answered with Our FAQs
Before you become an Apricot Lane franchise owner, you probably have some questions about how we do things, what we expect from our franchisees, and a host of other topics.
We put together this list of commonly asked questions to help you as you learn about our brand. Read through these questions then contact us to learn more!
How much money do I need?
The typical investment experience is currently about $225,000 (excludes working capital), which includes everything it takes to open the doors. If you are planning to obtain financing from a bank they will require that you provide 25-30% of the investment from your own resources, and they will provide the balance.
Do you offer financing?
We do not provide financing, but we do have a third party source, which is Guidant Financial. They have over 125 lenders that they work with and specialize in franchise funding. Check out their program by clicking here.
What are the franchise fees?
The Initial Franchise Fee for the first store is $34,500, then $15,000 for each additional store that you open. Ongoing royalty is 5.5% and Advertising Development is 1.0%. The Initial Franchise Fee is paid in two installments, $5,000 when you sign the Franchise Agreement, and the balance ($29,500) is paid when a Letter of Intent is agreed to on a location.
What is the typical store size?
Our average store is about 2,000 square feet, but our range is 1,300 to as big as 3,700 square feet. We do have a couple of stores that are the exception and are larger than 5,000 square feet, but in those cases the franchisee also owns the building.
Do you help find a location?
Yes! Depending on the market, we typically use a real estate broker to help research and secure a location and we refer you to a real estate attorney to negotiate the lease. However, we are very involved in the site selection and approval, as well as the lease negotiations. Before all of that takes place we send someone to visit you in your market, and check out locations, as the last step in our approval of your Request for Consideration to become an Apricot Lane Boutique franchisee.
Can I continue to keep my current job, or do I have to manage the store full time?
We recommend that a franchisee be involved on a full time basis with the business, but we know that is not always possible. In those cases we will work with you to hire a retail store manager.
How many years is the franchise agreement?
The Agreement has an initial term of ten (10) years plus two (2) five year options.
Can I do my own buying?
YES, in fact you have much flexibility in the merchandise you can carry. We will put together your initial merchandise plan including percentages of categories and specific vendors. After that, you are your own merchandise buyer as you follow our buying guidelines to meet the needs of our mother/daughter customer base and brand identity.
Can I do e-commerce?
YES! We encourage our stores to offer products through one of our two e-commerce platform options. Depending on background and experience, we typically recommend waiting at least six months from the opening of your store before looking at adding on e-commerce in order to give time to build your customer base.
How much money can I make?
We currently do not publish any information with regards to profit or ROI, as we prefer that you learn about what is possible by speaking with experienced franchisees as part of your due diligence.
How long does it take to open my store after I sign the franchise agreement?
A lot depends on the location itself in terms of condition of the space, what the landlord is willing to do with regards to construction and permits. However, for most new franchisees the store is usually open within 4 – 5 months from the time a Franchise Agreement has been signed.
How do I get started?
It all begins by scheduling a “Introduction to Apricot Lane” phone call with our Franchise Development representative. Just click below to book your appointment!