Franchise

How much does my franchise cost?

The total estimated initial investment for a Vape and Smoke Shop single franchise ranges from $90k – $200k which includes an initial franchise fee of $19,900. This initial franchise fee covers the cost of training, opening assistance, operations manual and other support and franchise development services.

Is there royalty or an on-going fee? 

Yes, the continuing services or “royalty” fee is 7% of the monthly gross revenues derived from the franchised business. This fee entitles you to continued use of the Mr. Smokey Smoke Shop name & trademarks, and access to our unmatched franchisee support/benefit system which includes initial and on-going trainings, proven operating system, marketing assistance, group buying resulting in low product costs, and other benefits that come with being a part of the Vape and Smoke Shop community of franchises.

What about financials? 

The Tables below represent the actual unaudited Profit and Loss statement for 3 of our Affiliate stores that have been open for at least 1 year. The Affiliate stores, while not franchisees, operate substantially the same business as that of franchisees herein would operate. There are several factors that are unique to the Affiliate’s business that may be different from the business of a franchisee herein. The Affiliate has 5 locations located in Miami, Florida. The rental market conditions in Miami, Florida are highly competitive with some of the highest rents in the United States. Our Affiliate, Mr. Smokey Corp., are all located in areas having an extreme amount of foot traffic. Rents in these areas vary, but are approximately $20 – $55 per sq. ft. The population of Miami, Florida which is the 44th most populated which has an estimated 430,332 residents. The median income for the market is $46,946 for Miami, Florida. The gross number from the Profit & Loss Table are earnings before interest, taxes, and amortization (EBITA) which refers to a company’s earnings before the deduction of interest, taxes, and amortization expenses. Again, we encourage you to consult with your own accounting, business, and legal advisors.

What about advertising? 

We realize that furthering the recognition of Mr. Smokey Smoke Shop brand and reputation is essential in the success of our franchisees. A collective advertising budget allows us to advertise in media outlets that benefit us all. While we have not activated it at this time, we may require a contribution of up to 1% of your monthly gross sales in the future for a national marketing fund. You are also required to spend at least 2% of your monthly gross sales on local advertising.

What training is provided?

Mr. Smokey Smoke Shop provides you with a comprehensive and multi-faceted training course. You and up to three addition people may attend training. The training program is comprised of 20 hours of classroom training; 20 hours of on-the-job training; 2-days of onsite opening assistance (we come to you); and refresher courses are offered throughout the year.

What kind of continued support will I receive?

As a Mr. Smokey Smoke Shop franchisee, you are in constant contact with your franchise representative that will provide you with continued guidance with customer service, operations, accounting, marketing, and any other questions that may arise.

Will I have exclusive territory?

Yes, each Mr. Smokey franchisee will be given their own “designated zone” in which no other Mr. Smokey Smoke Shop locations will be allowed to operate. The exclusive territory will be a radius of 5 miles around your store or a population density of 50,000 people whichever is lesser.

What are the terms of the Mr. Smokey Smoke Shop Franchise agreement?

The term of the Vape and Smoke Shop franchise agreement is 15 years, followed by two consecutive renewable terms of 5 years each. The renewal fee at the time of each renewal is 25% of the current franchise fee.

What’s my next step?

 Please feel free to call us at (786) 202 5087 or email us at franchising@mrsmokey.com