QT GAS STATION Franchise Cost and Profit Margin – Review
QuikTrip Franchise, founded in Tulsa, Oklahoma in the year 1958, deals mainly on retail, with its activities in the retail sector valued at over $9 billion and includes a coverage area of 10 states which includes the following; North Carolina, South Carolina, Arizona, Kansas, Nebraska, Missouri, Oklahoma, Texas, Georgia and Iowa, all within the southern, south western and the Midwest of the United States.
Its franchise units have since grown to over 580+ units within the ten states.
QuikTrip has been involved in the dishing of quality products and services to their customers for more than 55 years now. The company has the goal of becoming the best in the industry that caters for the service and delivery of items offered in a convenience store.
It is quite lucrative buying into the company’s franchise as they offer tons of items that are needed by an average household. The big question now is “how much is a QuikTrip Franchise
FRANCHISE INFORMATION ABOUT THE COMPANY
The QuikTrip Company, which is popularly known as QT is based in Tulsa Oklahoma and it is a chain of convenience stores that is primarily run in the Southern, Southeastern and Midwestern parts of the United States.
The company was established in the year 1958 by two business entrepreneurs, Chester Cadieux and Burt Holmes. In the year 1968, the company began expansion outside of Oklahoma and they began the sales of gasoline in the year 1971
MORE: BIG LOTS FRANCHISE COST
IS QuikTrip A Franchise?
The company is considered a franchise as they have locations spread at different parts of the United States. They have a highly performing franchise model and QuikTrip Franchise is being considered by Fortune Magazine as one of the top performing franchises in the USA.
WHY CHOOSE QUIKTRIP FRANCHISE?
The company believes they are the best in the industry when it comes to great service delivery. Every staff of a QuikTrip Franchise can be said to posses great qualities like the ability to work independently and display perfect work ethic. It doesn’t end there though, that is just the QT culture and it is the reason why a lot of customers are attracted to the company.
Franchisees too will benefit from this wonderful experience and foundation that has been laid down by the company.
HOW MUCH DOES A QUIKTRIP FRANCHISE COST?
Buying into a franchise with the company is quite lucrative, though it also comes with some financial implications that prospective franchisees will be expected to meet up with. The QuikTrip Franchise cost will be the investment that is needed to get the business running. The initial investment that will be needed to set up a franchise unit is within the range of $20,000 to about $30,000.
The company also expects new franchisees to have liquid cash in the tune of about $25,000. This will help them to cater for any running expenses in the first year of business.
QUIKTRIP FRANCHISE COST
As it is with any franchise, a new franchisee with QuikTrip will be made to make an initial franchise fee payment. This payment is non refundable and quite renewable after a period of time. The QuikTrip Franchise fee is $25,000. An additional ongoing royalty fee is also payable to the company. This is about 5% of the monthly gross revenue of the franchise unit.
HOW MUCH DOES A QUIKTRIP FRANCHISE MAKE?
The amount of earnings from a QuikTrip Franchise will surely be dependent on a whole number of factors. The average income a QuikTrip Franchise owner will make will depend on the effort he puts into the business. Although the rules and regulations guiding the franchise industry does not so allow franchise companies to give out information on the earnings that can be made, but new QuikTrip Franchise owners can seek tips from existing franchise owners.
TRAINING AND SUPPORT
New franchisees with QuikTrip Franchise will be offered training and support to equip them for the business ahead. The franchise owner or any other staff designated by him can attend the training, which is divided into 2 different sessions.
Trainings will be offered at the company’s Head Office in Oklahoma and also onsite at any location approved by the QuikTrip Corporation.
WHAT ARE THE TERMS OF AGREEMENT?
When you buy a QT Franchise, the set term for the operation of a QuikTrip Franchise License is about 10 years. The franchisee has the option to renew this after the expiration of the initial term. Although the franchisee will be expected to meet up with the company’s terms and conditions for renewal.
The company does not offer any form of financing to their franchisees, either directly or indirectly. However franchises that require financing can seek for this from lending firms that are ready to fund the franchise business.
HOW TO OPEN A QUIKTRIP FRANCHISE
Opening a QuikTrip Franchise does not end with this article. Information here only talks about how to open a QuikTrip Franchise, to establish a franchise unit; a prospective franchisee will be expected to forward their application to the company’s website.
Once the application is reviewed, feedbacks will be given after some few days. If the applicant is lucky enough to be considered as a franchisee with the company,you will be assined a franchise manager.
The duty of the franchise manager will be to carry out additional check on the eligibility of the prospect to open a franchise unit. Once he is considered fit to open a unit, the franchise manager will work alongside his team members to assist in the opening of the new franchise unit, which will include site location, equipment procurement and final launching.