Basics of a Caribou Coffee Franchise
If you’re thinking about buying a Caribou Coffee franchise, there are many things to consider before signing on the dotted line. Becoming a Caribou Coffee franchisee is not a guarantee of success, but rather a blueprint that can assist you in achieving success. Given the correct market conditions, skills and dedication, being a Caribou Coffee franchisee might be financially rewarding.
Owning a Caribou Coffee franchise is a serious commitment and works best when you make a thoughtful, educated decision.
- Just because you love Caribou Coffee’s products or services doesn’t mean that you will be able to successfully operate a Caribou Coffee franchise.
- Being emotionally attached to the idea of becoming a Caribou Coffee franchisee is not a state of mind in which you can effectively evaluate an opportunity.
- Your positive experience as a customer of Caribou Coffee should not form the basis for deciding to become a franchisee.
As an example, just because you love Big Macs doesn’t mean that you should become a McDonald’s franchisee.
Are you looking for some free resources to help you determine if a Caribou Coffee franchise is for you?
Caribou Coffee Due Diligence
You must conduct smart due diligence and determine from a business perspective whether owning a Caribou Coffee franchise is right for you.
If you truly want own a Caribou Coffee franchise, get all the information you can from Caribou Coffee and secure a qualified advisor who has experience helping people like you purchase franchises.
You may also want find that gaining a better understanding of the terms related to franchising would be helpful. If so, you may want to visit A Glossary of Franchise Terms.
Make sure that owning a Caribou Coffee franchise fits in with both your skills and life style objectives. If you don’t want to work evening and weekends, don’t purchase an ice cream shop. If you’re an introvert, don’t buy a franchisee that requires you to be extroverted.
Are you interested in more questions to ask Caribou Coffee franchisor, Caribou Coffee franchisee, or even yourself? Get to know the terms.
Caribou Coffee Franchise Disclosure Document
Carefully read the Caribou Coffee Franchise DisclosureDocument (Also known as an FDD). They can be intimidating.
As you are reviewing Caribou Coffee’s Franchise Disclosure Document you will have a number of calls with Caribou Coffee’s franchise team before you will be allowed to call Caribou Coffee franchisees.
When you are allowed to call Caribou Coffee franchisees make sure you speak to at least five to eight franchisees. You will find that most Caribou Coffee franchisees will be honest and unbiased about Caribou Coffee. If you would like more information on how to dissect a Caribou Coffee FDD consider the following resources:
Does a Caribou Coffee Franchise Make Money?
A critical part of your due diligence is to build an estimated P&L (profit and loss statement) and see what the numbers might look like if you become a Caribou Coffee franchisee. Reading Chapter 13 of The Educated Franchise teaches you the secrets of this key step.
The decision making tools in Chapter 15 of The Educated Franchise and in Step 13 of The Franchisee Workbook shows you how to honestly evaluate whether or not buying a Caribou Coffee franchise is the right move for you.
If you’re serious about becoming a Caribou Coffee all franchisee and want to explore owning a Caribou Coffee franchise, take the best first step you can and grab your copy of The Educated Franchise today!