A Beehive Co-op store is ideal for people who enjoy the process of working with others, who are flexible and creative, and who will enjoy the diversity of experience that this particular retail environment offers. There are four key categories that we will look at in assessing the fit.
Entrepreneurial Nature.
Have you always dreamt of owning your own business and shaping your own future? Have you always wanted to own a store? Are you looking for a career that is flexible, challenging, and creative? Becoming a part of a franchise is owning your own business and requires an excellent work ethic, significant stamina and determination, and a great support system. Owning a Beehive Co-op gives you access to resources, support, operational structures, and marketing systems that most new businesses are not afforded. However, it is important to recognize that each new store is a new business and will require dedication, hard work, flexibility, and commitment. Owning a store requires you to be the jack-of-all-trades...from creative work like selecting your participating designers to keeping your books to planning your annual advertising...it is important that you posses professional skills and be hands on in learning new skills when needed.
Local Connection.
Maybe you are a local artist or designer...and know many other designers. Maybe you go to every craft or art show in your community. Maybe you have prior retail experience in the local scene. Or maybe you are a design professional looking for a career change. Regardless of your background, the idea behind the Co-op makes it imperative that you are connected to local artists and designers, have a keen sense of design and craftsmanship, and have a good understanding of the independent retail market in your city. You will have to find the right location for your store (with our help), stock it with the most creative, diverse, and innovative designers you can find, and sell the concept of your store to the local community.
Business Skills.
Running a successful business requires a fundamental understanding of how business works as well as a strong sense of professionalism and dedication. A good ability to communicate, organize, trouble shoot, and the confidence and flexibility to handle a wide range of issues are all assets that will help you build a strong Beehive Co-op chapter.
You may bring a certain skill to the organization that will help us achieve greater insight and in turn you will learn valuable skills from the franchise that will help you grow dynamically. It is this synergy that we hope will propel the growth of Beehive Co-op.
Financial Fit.
A typical franchise could be up and running in 3 months and could range in cost from $75,000 to $100,000 (including franchise fee and all estimated expenses - please see our "Your Estimated Initial Investment" chart for detailed information) depending upon the size of the location. Prospective Beehive Co-op franchisees should have 30% of start-up costs in unencumbered cash. The Beehive Co-op franchise fee is $30,000. The royalty is 4% of gross sales. We would provide you with customizable Beehive Co-op business plan templates if additional investment funds or bank loans were needed. We will be extending a discount to our first (3) franchisees as follows: Franchise 1 Fee: $ 22,500 / Franchise 2 Fee: $24,000 / Franchise 3 Fee: $25,500.
