Do I need culinary and retail experience?
The short answer is no! We have franchisees that have come from every walk of life. It is our job at The Spice & Tea Exchange® to make you a specialty retail expert by the time you open your store. As a part of our franchise system, you will have access to professional and experienced field consultants, in-house and on-site operations training, virtual training, and education libraries to assist you on your franchising journey.
How much does it cost to open a store?
The total cost for opening a store is $183,650 to $369,250. Cost will vary depending on geographical location, size of store, demolition and overall build-out. Complete details will be provided in your FDD (Federal Disclosure Document)!
Do you offer financing?
The Spice & Tea Exchange® has established relationships with lenders that can provide very competitive terms and rates for qualified individuals. We are an Approved Vendor with the SBA, a member of FranRegistry, ApplePie Capital and proud to offer qualified veterans a discount of 25% off the franchise fee.
What is the typical build time frame?
Franchise location build is determined by a number of factors including, permitting, demolition and site capabilities, seasonality, training team availability, and more. For an accurate estimate, please consult with one of our Franchise Development Team Members.
Are we responsible for our own construction?
While we do not manage the construction process for you, we will be there every step of the way to assist you with the process. You can follow our recommended process in choosing your General Contractor Once your General Contractor turns the store over to you in "paint ready" condition you are ready for the final step. The Spice & Tea Exchange highly recommends our proprietary build team Store Development, LLC as our premier contractors. Having worked with us for 8+ years, they have built a significant portion of the stores within our system. You do have the option to contract your own builders if desired, and we will work to provide them with guidance throughout the build to ensure brand standards are communicated and requirements met.
Do stores have their own Marketing Areas assigned to them?
Yes, each of our The Spice & Tea Exchange® franchises are given a specific marketing area (radius) in which you may advertise your store. This is determined by a number of factors, including: population density, foot traffic, and nearby tourist attractions. There may be opportunity to partner with a neighboring Franchisee to combine marketing efforts for greater brand awareness. In addition you can expect tremendous support from our extensive marketing staff.
Do you help me find a location?
Yes, we work with you by visiting sites with you that you have identified. We also recommending finding a commercial real estate broker in the area. We do provide final approval on the site. BTW, many of our franchisees have relocated to "unique/cool areas" of the country to open their stores!
Am I able to open multiple locations?
Many of our franchisees opt to open multiple locations depending on their lifestyle and geography. In addition, The Spice& Tea Exchange® offers an Area Development Agreement for three or more stores.