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UPTOWN CHEAPSKATE

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Uptown Cheapskate

Kid to Kid

Frequently Asked Questions

1.

What does a Kid to Kid franchise cost?

The franchise fee for your first store is $25,000. We estimate that the total cost to get your store open will be between $196,118 and $272,718, depending on the size of your store, inventory, location, store build out expenses, and working capital budget.

2.

Will Kid to Kid finance my store?

Not directly. But we will assist you in preparing a business plan to obtain SBA guaranteed or other financing. For those who qualify, SBA financing is available for up to 70% of the initial investment.

3.

How much cash do I need to obtain a loan?

Usually $72,000, although having more cash may reduce your risk and increase the probability of receiving financing.

4.

What rights do I receive when I purchase a franchise?

As a Kid to Kid franchisee you have the right to operate a Kid to Kid store for a ten year period at a designated location. No other Kid to Kid store may locate within your protected trade area.

5.

 

How much money can I make?

Kid to Kid has many very successful store owners – some of whom have been profitable from the very start.  As with most small businesses, there is no guarantee of success.  Your earning ability will be affected by your location, expenses, work ethic, ability to follow our systems, and other factors.

6.

How will I acquire my initial inventory?

You will learn how to use our Inventory Management and Appraisal (IMAP) computer program to purchase and price inventory during your initial training. You will begin buying inventory (without selling it) in your store approximately five weeks before your grand opening.

7.

What ongoing fees does Kid to Kid charge?

Our royalty fee on your first store is 5% of gross sales, exclusive of sales tax. In addition you pay 1/2 of 1% of gross sales to the Marketing Fund which is used to promote all the stores in the Kid to Kid system.  You are also required to set aside $300/month to cover future expenses including computer upgrades, remodeling expenses to replace depreciated assets, and travel expenses related to attendance at Kid to Kid Owner Conferences and training sessions.  (There is no fee for owners to attend these conferences).  These monies are kept in trust by Kid to Kid.

8.

How does Kid to Kid prepare me to be successful?

Our success is measured by your success. We have developed, and work continuously to improve, tools and procedures designed to train you and your staff and improve store performance.  Starting from the time you sign your agreement, our support team is committed to helping you create a business plan, obtain financing, find the right location, and fit up your store to maximize sales potential.  In addition to attending 11 days of training in Salt Lake City, you will complete a rigorous “pre-training” program and internship to become proficient in the Kid to Kid systems.

Your initial training will include:
  • Business Planning
  • Marketing Planning
  • Inventory Procurement and Management
  • Operations, Merchandising, and Personnel
  • Customer Service and Vendor Relations
  • Bookkeeping and Financial Management
On-going support includes:
  • Monthly Priorities document
  • Unlimited telephone access to our business consultants
  • Computer and technical support
  • Store visits
  • Regional Meetings and/or Performance Groups

9.

 

Can I operate this business part time?

Not initially. For the first six months of operation, you must work full-time in the store. After that time you may hire a manager to oversee the day-to-day operations of the store, but we recommend that you remain actively involved.

10.

 

What type of individuals are best suited to owning a Kid to Kid franchise?

The ideal Kid to Kid franchise candidate is a willing and motivated learner who is committed to following a proven franchise system, training and managing employees, and providing superior customer experiences.  Our franchise values are “Better Together”, “Innovation”, and “Fairness.”  Individuals who share those values will fit well into the Kid to Kid family.

To be a successful Kid to Kid store owner requires money, hard work, and follow-through.  It’s not necessary to start with a knowledge of children’s products, although that is a bonus.  It’s much more important to be motivated, organized, and have a desire to meet the needs of families in your community.

Apply for ownership >

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