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The average cost to license a Starbucks store is $315,000. You’ll also need $700,000 in liquid assets to be considered. What Is the Concept Behind Licensing Instead of Franchising?
The average cost to license a Starbucks store is $315,000. You’ll also need $700,000 in liquid assets to be considered. Take Our Poll: What Are You Worth to Your Company?
Starbucks was converted into a coffee shop serving espresso-based drinks under the ownership of Howard Schultz, who was chief executive officer from 1986 to 2000 and led the aggressive expansion of the franchise across the West Coast of the United States.
A franchise is merely a temporary business investment involving renting or leasing an opportunity, not the purchase of a business for the purpose of ownership. It is classified as a wasting asset due to the finite term of the license. Franchise fees are on average 6.7% with an additional average marketing fee of 2%. [10]
The company teamed up with Starbucks in 1998, acquiring around 125 stores [2] and in October 2010 sold 105 of the stores in a $100 million deal. [ 3 ] [ 4 ] In March 2008, Johnson signed a multi-year marketing deal to help electronics retailer Best Buy Co. bolster sales in urban neighborhoods.
The drink was a predecessor to the Starbucks Frappuccino. [11] In 1991, when it was first planning to expand into Los Angeles, Starbucks tried to purchase the firm, but Hyman turned them down. The opening of Starbucks stores in Los Angeles unexpectedly helped Coffee Bean's business, by driving curious customers to the area. [12]
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