Before taking the big plunge into an Apricot Lane franchise, you probably have several questions about the details of the investment, our business model, and what you can expect to get for your money. When embarking on any new opportunity, it’s natural to want to be able to see the way forward. These fashion franchise tips are based on some of our most commonly-asked questions, and should help give you a better idea of what your Apricot Lane investment will look like.
Frequently Asked Questions and Other Fashion Franchise Tips
Do You Offer Financing?
Apricot Lane does not provide financing, but we do work closely with a couple of third-party resources with access to over 125 lending partners. They specialize in franchise funding to include SBA and 401K rollover financing and will be happy to work with you to finance your investment.
What Are the Franchise Fees?
For your first store, the Initial Franchise Fee is $34,500, and then $15,000 for each additional store you decide to open. The ongoing royalty owed to Apricot Lane is 5.5%, and Advertising Development is 1.0%. The Initial Franchise Fee is paid in two installments— $5,000 when you sign the Franchise Agreement, and the balance ($29,500) is paid when a site has been selected, a Letter of Intent has been agreed to and a lease has been requested.
What Kind of Training Will I Receive?
Now that you know the cost of the investment, you’re probably wondering: okay, so what do I get in return? We understand that jumping from a corporate job, or a different industry entirely, to a clothing boutique franchise can be a daunting prospect, and that you won’t have all the answers. That’s why we have an extensive training program in place, designed to ensure that our franchisees are ready to open their doors on day one.
We offer 40 hours of virtual home training, as well as classroom training at our headquarters in the Sacramento Valley. This will cover a wide range of topics, from store management and customer service to marketing and inventory management.
Will I Receive Help with Location Selection?
Yes. We use a national real estate brokerage firm experienced in site selection and tenant negotiations for other national women’s fashion retailers to help you research and secure the perfect location, and we connect you with a real estate attorney to assist with lease negotiation.
Can I Do My Own Buying?
Giving you the freedom to handle your own buying and individualize your store according to your own personal style is key to what makes us unique. You will have a lot of flexibility in regard to the merchandise you carry. We put together your initial merchandise plan, including percentages of categories and specific vendors. Then our sophisticated computer system tells you what’s working and what’s not so that you are able to curate products that YOUR customers want!
Once I Sign On, How Long Will it Take to Open My Store?
The answer to this question is highly dependent on the location itself. The condition of the space is an important consideration, as well as any construction needs. Most franchisees open their store within four or five months of signing the Franchise Agreement.
Is e-Commerce an Option?
Yes! We utilize two e-commerce platforms, and encourage our franchisees to take advantage of them. We do, however, recommend waiting at least six months before adding an e-commerce platform, to give yourself time to build your customer base.
If you’re eager to put these fashion franchise tips into action, and take the first step toward owning your own boutique fashion franchise, don’t hesitate to contact us today.