HOW MUCH IS A QUIKTRIP FRANCHISE?
The QuikTrip Corporation, which is commonly referred to as QuikTrip (QT) is a company based in Tulsa, Oklahoma. They operate a chain of convenience stores and primarily operate in the Southern, Midwestern and South-eastern parts of the United States of America. Their first store was opened in the year 1958 by Chester Cadieux and Burt Holmes. As an entrepreneur, your quest may be on how much is a QuikTrip Franchise?
INFORMATION ABOUT THE COMPANY
Since the year of establishment of the company QuikTrip, it has grown to scoop in more than $11 billion in revenue and the company has about 700 stores in eleven different states of the United States.
QuikTrip as a company has been placed on Forbes’s radar due to their high level of income generated. The company’s strategy is to be the top gasoline/convenience retailer in every market and they don’t plan to reach that level alone though the numbers of stores they have, but via strategic location of their stores in high volume areas that will guaranty a constant flow of foot traffic.
The company has close to 20,000 employees and they have also been ranked by Fortune as one of the Best Companies to Work For in the last fourteen years. And one other interesting fact about QuikTrip is that they have been able to give back to the community through charity. The company donates 5% of its net profits to charity organizations.
DOES QUIKTRIP SELL FRANCHISE?
QuikTrip has over 900 stores across the United States and the question to ask is how many of these stores are company-owned and how many of them are franchises. In short, you will want to be afforded the information if QuikTrip sells Franchise. No need to be in a hurry, the answer to that will be revealed in the course of this article. Let’s first talk about franchising and how it can help you kick start your business career.
WHAT ARE THE MERITS OF BUYING A FRANCHISE?
If your desire is to buy a QuikTrip Franchise, why not know about the merits of a franchise business to evaluate if you are going to be making a wise choice in your purchase.
In a franchise business, an established company otherwise referred to as the franchisor will provide a well developed method of running a business, guidance, and assistance to a franchisee in return for a payment of fees.
You might want to know that buying into a franchise opportunity can be a more lucrative alternative that establishing your own business. You can find below the advantages of buying into a franchise just like the QuikTrip Franchise.
- As a franchisee of a big business, you will be offered the independence of small business ownership with the support of a bigger business.
- You may not necessarily have to have much business experience as a franchisee of a business. The franchisor most of the times will provide you with the adequate training that you need to excel in their business.
- There is a higher rate of achieving success with franchises that starting your own business.
- When you buy into a franchise, it will be quite easier for you to secure financing. As these franchises already have good working relationships with most financial institutions.
- Most franchises are already established businesses with good track records and experience. You will be leveraging on this to achieve quick success when you buy into their franchises.
WHAT IS THE COST OF A QUIKTRIP FRANCHISE?
Now that you have been enlightened with the importance of buying into franchise opportunity, the next step is to know about the cost of a QuikTrip franchise.
As it is with most franchises, you will need to meet up with some financial requirements before you can be considered for franchising. You also should understand that you will also be expected to make some on-going fees during the course of running your franchise. So if you are not sound financially, it might be difficult for you buying into any form of franchise as most of the times, the investment requirement could run into $1,000,000 or even more.
The least initial franchise fee that you can even make for any franchise out there is $10,000 and some will charge you as much as $50,000. It will be better you evaluate your financial capacity before taking the step.
So with this information, what will be the cost of a QuikTrip Franchise? It is quite unfortunate that at the moment, QuikTrip does not offer any form of franchising to the public. All their stores across the United States of America are company owned. Although it is not clear if the company will start selling franchises in the nearest future, but there are various other options of franchises in the Convenience store industry that you can choose from.
Another alternative that you have if you so much have the passion to buy a QuikTrip Franchise is to work your way into the company as an employee. With that you will be able to expose yourself to the mode of operations in the company and if you are lucky enough to work your way to the top, you can then gather management experience that will assist you to start-up your own store later on in the future.