- Franchise 500 Rank
-
N/R Not ranked last year
- Initial investment
-
$40K - $44K
- Units as of 2020
-
1 0.0% over 3 years
Founded in 2014, Iceworks is an ice machine leasing service headquartered in Albuquerque, New Mexico. Iceworks’ main focus is delivering ice machines to businesses that need them, including schools, municipal buildings, hotels, sports venues, and other associated venues.
The roots of Iceworks date back to 2014 when two men delivered an ice machine to replace a broken one. This was the germination of an ice machine leasing service that has continued to this very day.
Iceworks provides service to their client list by ensuring that their customers have the most up-to-date ice machines with proper servicing and maintenance.
Why You May Want To Start an Iceworks Franchise
Having access to ice is typically a need in the United States. The customer demand is already pre-loaded due to this need for ice, especially in summer and hot climates. Even in colder climates, customers need ice to keep products cold. This is especially true for hotels and other businesses that always employ an ice machine.
Franchisees may institute contracts with local businesses to deliver and service ice machine units for a set period of time. This business method may result in success for the franchisee and provide a way for them to foster good relationships with their local customers.
Opening an Iceworks franchise could offer a more predictable outcome than investing in a completely new brand that may struggle to thrive in an already crowded and competitive industry.
Why Might Make an Iceworks Franchise a Good Choice?
Iceworks strives to deliver high-quality ice machines with minimal downtime. An ideal franchisee can communicate well with potential customers. They should also be quick to solve problems and deliver their products and services.
To be part of the Iceworks franchise team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees. Franchisees will also need to meet the company’s set net worth and liquid capital requirements.
How To Open an Iceworks Franchise
As you decide if opening an Iceworks franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if an Iceworks franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Iceworks franchising team questions.
If awarded a franchise, franchisees may receive support from the Iceworks franchise brand throughout the franchising process. In addition to pre-opening training, Iceworks franchisees receive support through grand opening support, site selection, and marketing. Potential Iceworks franchisees may also receive hands-on training and continued support after their franchise location has opened.
Company Overview
About Iceworks
| Industry | Food |
|---|---|
| Related Categories | Miscellaneous Food/Beverage Businesses |
| Founded | 2014 |
| Leadership | Scott Hollingsworth & Jeffery Watson, CEOs |
| Corporate Address |
11024 Montgomery Blvd. N.E., #240 Albuquerque, NM 87111 |
Business Overview
| Franchising Since | 2020 (4 years) |
|---|---|
| # of Units | 1 (as of 2020) |
|
|
|
Information for Franchisees
Here's what you need to know if you're interested in opening a Iceworks franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
|
Initial Franchise Fee
|
$24,900 |
|---|---|
|
Initial Investment
|
$39,800 - $44,100 |
|
Net Worth Requirement
|
$24,900 |
|
Cash Requirement
|
$24,900 |
|
Royalty Fee
|
8% |
|
Ad Royalty Fee
|
9% |
|
Term of Agreement
|
10 years |
| Is franchise term renewable? | Yes |
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
| Third Party Financing | Iceworks has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll |
|---|
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
| On-The-Job Training | 11 hours |
|---|---|
| Classroom Training | 18 hours |
| Ongoing Support |
Grand Opening
Site Selection
|
| Marketing Support |
Social Media
|
Operations
Additional details about running this franchise.
| Is absentee ownership allowed? | No |
|---|---|
|
Can this franchise be run from home/mobile unit?
|
Yes |
|
Can this franchise be run part time?
|
No |
|
Are exclusive territories available?
|
Yes |
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