Signing out of account, Standby...
- 2022 Franchise 500 Rank
N/R Not ranked last year
- Initial investment
$188K - $444K
- Units as of 2021
Here’s what you need to know if you’re interested in opening a Parlay Cafe franchise.
These days, it seems as if a new coffee place is opening up on every corner, copying the same quick-serve model that has been around for ages. Parlay Cafe is a coffee shop that attempts to alter this by putting the needs of the customer first.
Founded in 2019 by executives from different backgrounds, Parlay Cafe is where customers can work, meet, and relax. With a private member's lounge, conference rooms, and a stream of food & beverage, Parlay Cafe may have something for everyone.
Parlay Cafe began franchising in 2020 and is actively seeking to expand its reach across the United States.
Why You May Want To Start a Parlay Cafe Franchise
If you have a passion for helping others experience comfort and relaxation, opening a Parlay Cafe franchise could be an exciting opportunity for you. Franchisees should have good customer service skills and an ability to connect with customers easily.
Franchisees can be individuals from all walks of life; a background in the service sector is not a requirement. Characteristics that make a franchisee a great fit include the ability to uphold best practices and a determination to grow one's portfolio.
While the industry might be crowded and competitive, opening a Parlay Cafe brand may offer a more predictable outcome than investing in a completely new brand.
What Might Make a Parlay Cafe Franchise a Good Choice?
Besides operating as a traditional cafe, the brand's portfolio may extend to food and beverage, membership and day passes, and conference room rentals. Coupled with a three-pronged business model, Parlay Cafe's different streams of business may put it in a good position in its industry.
Since the brand targets diverse clientele, franchisees should be prepared to handle aspects critical to running a franchise. Franchisees will be expected to book conference rooms, keep logs, be on hand to assist customers, and ensure that services are running smoothly. Since running the business part-time is not an option, franchising is a full-day gig that franchisees can fill individually or with managerial help.
To be part of the Parlay Cafe 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 fees and royalty fees.
How To Open a Parlay Cafe Franchise
Parlay Cafe believes it has developed a replicable and well-positioned franchise that franchisees can join after undergoing the franchising process. Before making any commitments 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 Parlay Cafe franchising team questions. If awarded a franchise, franchisees receive a great deal of support from Parlay Cafe throughout the franchising process. In addition to pre-opening training, franchisees receive support through brand awareness, marketing, and research. They also receive hands-on training and continued support after their units have opened.
About Parlay Cafe
- Franchising Since
- 2020 (2 years)
- # of employees at HQ
- Where seeking
This company is seeking new franchisees throughout the US.
This company is seeking new franchisees worldwide.
- # of Units
- 1 (as of 2021)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Parlay Cafe 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
Definition: The initial fee paid to a franchisor to join their system
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
- Initial Investment
- $187,950 - $444,200
Definition: The total amount necessary to begin operation of the franchise
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
- Cash Requirement
- $50,000 - $70,000
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
- Veteran Incentives
- $5,000 off franchise fee
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
- Royalty Fee
Definition: A ongoing fee paid to the franchisor on a regular basis.
What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
- Ad Royalty Fee
Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts.
What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.
- Term of Agreement
- 10 years
Definition: The length of time your franchise agreement will last.
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
- Is franchise term renewable?
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- Third Party Financing
- Parlay Cafe 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
- 22 hours
- Classroom Training
- 50 hours
- Ongoing Support
Purchasing Co-opsMeetings & ConventionsGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Additional details about running this franchise.
- Is absentee ownership allowed?
Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations.
- Can this franchise be run from home/mobile unit?
Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.
- Can this franchise be run part time?
Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.
- # of employees required to run
- Are exclusive territories available?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.
Interested in franchise ownership like Parlay Cafe? Request a free consultation with a Franchise Advisor now.
Are you eager to see what else is out there? Browse more franchises that are similar to Parlay Cafe.
Related Franchise Content
Catch up on the latest franchise news, trends, and more.
Looking for information about how to open a Blue Moon Estate Sales franchise? Here's what you need to know.
Here are 20 questions that will save you time and money. There are great franchise options out there, but you must do your due diligence.
Turns out eating breakfast, working out, riding a rollercoaster and getting a job have something in common.
With a smarter strategy, your next recruit is clicks away.
Challenge Island recently helped a franchisee in New Mexico transform her location into a nonprofit. Here, she explains why she made the decision, and how it works.