HOW MUCH TO SCHOOP?
We do not have hard and fast financial qualifications to open a Schoop’s. Owners Rick and Randy Newell and Mark Schoop grew up serving burgers, and they understand that money is only one factor in building a successful restaurant. We use the following as general guidelines:
- A good credit history
- Liquid assets of at least $100,000
- Net worth of at least $300,000
COST TO SCHOOP
We charge a 5% royalty on net receipts. As far as set-up costs, a lot depends on where you open your Schoop’s, whether it’s leased or purchased and how big it is. Here’s a general estimate of what it would cost you:
Estimated Initial Investment |
Low |
High |
|
Initial Franchise Fee |
$20,000 |
$20,000 |
Grand Opening Marketing Fee
(Deposited at the start of your store's construction to be utilized during the first 60 days after opening.) |
$5,000 |
$5,000 |
Rent (monthly) (Including taxes, insurance, CAM lease, utility & security deposits. Rents will vary depending on location and size) |
$2,000 |
$6,000 |
Leasehold improvements |
$125,000 |
$160,000 |
Equipment & Fixtures |
$110,000 |
$140,000 |
Architectural fees |
$2,000 |
$5,000 |
Insurance |
$2,000 |
$3,000 |
|
|
|
Signage |
$4,500 |
$7,500 |
Working Capital |
$20,000 |
$30,000 |
Initial Inventory & Supplies |
$5,000 |
$7,000 |
TOTAL |
$299,500 |
$384,500 |
|
