Frequently Asked Questions
Q. What type of franchise is available?
A. Single-unit and multi-unit franchises are offered for the establishment and operation of a Sloan’s Ice Cream business that offers its customers top quality ice cream, candy products, baked goods and merchandise.
Q. Is financing available?
A. While Sloan’s does not offer any direct financing to franchise owners, we have relationships with lending services that will aid you in finding the appropriate financing for your franchise.
Q. What are the financial requirements?
A. Sloan’s franchise owners must have minimum liquid capital (cash, stocks, retirement savings, etc.) of $100,000 and a minimum net worth of $600,000.
Q. How much is the fee for continuing support services?
A. The continuing services or “royalty fee,” is 6% of your gross sales and is paid weekly. This fee entitles you to use the “Sloan’s” service mark, use of distinctive system, marketing assistance, ongoing business development and counseling, and other benefits that come with being a Sloan’s franchise.
Q. Will I have an exclusive territory?
A. Sloan’s grants franchise owners with an “Area of Primary Responsibility”. The “Area of Primary Responsibility” is defined by zip codes, city limits and other geographic indicators and is based on population density, household income and other factors. The “Area of Primary Responsibility” is designed to give you adequate territory for the operation of a Sloan’s unit.
Q. What about advertising?
A. The Sloan’s name and reputation is an important part of our business. You will spend a minimum of $5,000 on grand-opening advertising during the first three months of operations. You will also spend 2% of your gross sales per month on local advertising. In addition, you will be expected to make Marketing Fund contributions of 1% of your weekly gross sales.
Q. How much training is provided?
A. The initial training covers all material aspects of the operation of a Sloan’s franchise and is comprised of classroom and on-the-job training. No previous franchise or retail/restaurant experience is required to qualify for a Sloan’s franchise.
Q. What is the term of the Franchise Agreement?
A. The initial term of the Franchise Agreement is five years from the date the Franchise Agreement is signed. The franchise is renewable for three successive terms of five years each, providing you have complied with the provisions of the Franchise Agreement.
Q. What is my next step?
A. Complete the Confidential Franchise Evaluation Form and return it to us. If you have any questions, please feel free to call us at (561) 839-3000 and ask for a franchise representative. We look forward to speaking with you.
Areas of Interest | Steps to Opening
Sloan’s Franchise LLC
235A Worth Avenue
Palm Beach, Florida 33480