Signing out of account, Standby...
- 2022 Franchise 500 Rank
N/R Not ranked last year
- Initial investment
$139K - $383K
- Units as of 2021
2 0.0% over 3 years
Here’s what you need to know if you’re interested in opening a Pink Bean Coffee franchise.
Pink Bean Coffee provides customers with organic coffee, healthy food, and a place for people to come together. The company’s humble origins started in 2013 at the farmer’s market in Somerset, Massachusetts. Two months later, it opened an express location in Fall River, Massachusetts.
By 2020, popularity had grown enough that Pink Bean Coffee opened its first retail location and expanded the menu not long after the company had enough strength to return to Somerset and set up headquarters.
Pink Bean Coffee is seeking to expand its reach even further.
Why You May Want To Start a Pink Bean Coffee Franchise
As Pink Bean Coffee continues to offer franchises, the company looks for franchisees that demonstrate a passion for the brand and people. It is preferable that franchisees have experience in the coffee industry, but everyone is welcome to apply for a franchise.
Pink Bean Coffee potential franchisees need strong leadership and customer service skills. Franchisees need to be willing to learn new things as they follow the company's brand and systems.
What Might Make a Pink Bean Coffee Franchise a Good Choice?
To make Pink Bean Coffee a place for everyone to gather, the brand strives to offer more than the standard cup of coffee. They may offer teas, cappuccinos, lattes, espressos, iced coffees, specialty drinks, smoothies, bowls, breakfast, lunch, and salads. Some menu items are even vegetarian and vegan friendly.
Pink Bean Coffee offers franchisees three different franchise opportunities. The first is the traditional stand-alone location with a reserved territory. The second is an area development where franchisees have a larger reserved territory and plan to open several locations over time. The third is a shipping container model, but this is still in development.
To be part of the Pink Bean Coffee 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 a Pink Bean Coffee Franchise
As you decide if opening a Pink Bean Coffee 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 a Pink Bean Coffee franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
If awarded a franchise, franchisees receive a great deal of support from the Pink Bean Coffee brand throughout the franchising process. In addition to pre-opening training, franchisees receive support through brand awareness, marketing, research, and construction. Pink Bean Coffee franchisees may also receive hands-on training and continued support after their franchise location has opened.
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 Pink Bean Coffee franchising team questions.
About Pink Bean Coffee
- Franchising Since
- 2020 (2 years)
- # of employees at HQ
- Where seeking
This company is seeking new franchisees in the following US states: Massachusetts
- # of Units
- 2 (as of 2021)
- Corporate Address
202 Slades Ferry Ave.
Somerset, MA 02726
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Pink Bean Coffee 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
- $139,350 - $382,825
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.
- Net Worth Requirement
Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company
What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.
- Cash Requirement
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of 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
- to 0.5%
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
- Pink Bean Coffee 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
- 70-145 hours
- Classroom Training
- 19 hours
- Ongoing Support
Grand OpeningSite Selection
- Marketing Support
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.
- 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 Pink Bean Coffee? 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 Pink Bean Coffee.
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