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TCBY (and Mrs. Fields) Franchise Cost & Fees

Date of Incorporation: 1981
Franchising Since: 1982
Headquarters: South Salt Lake, Utah

Business Description: Famous Brands Franchising, LLC is offering franchises for the operation of either: (1) a “Mrs. Fields Cookie Store” that offers a variety of specially prepared food items, such as cookies, brownies, muffins and beverages; (2) a “TCBY Store” that offers TCBY brand premium soft-serve frozen yogurt, hand dipped frozen yogurt, fresh yogurt, yogurt-based smoothies, sorbet and other approved food and drinks from a retail location; or (3) a “Co-Branded Store” that offers the products of both a Mrs. Fields Cookie Store and a TCBY Store.

Franchise Offer: The franchisor currently offers three types of franchise offerings: 1: Mrs. Fields Cookie Stores; 2: TCBY Stores; and 3: Co-Branded Stores. The three types of offerings will be collectively referred to as “Stores”.

  1. Mrs. Fields Cookie Stores are retail store fronts and kiosks that sell various Mrs. Fields-brand products, including specialty snacks and other bakery items, desserts, and beverages (such as cookies, brownies, cakes, muffins, bagels, croissants, cinnamon rolls, sticky buns, chocolate, dried fruit, nuts, candies, popcorns and coffee) and other products.
  2. TCBY Stores are retail store fronts and kiosks that sell various TCBY-brand products including premium soft-serve frozen yogurt, hand-dipped frozen yogurt and other frozen and non-frozen dessert and treat items. A TCBY Store will generally be developed in either a self-service format or a full-service format, as you and we agree as part of the store approval process.
  3. Co-Branded Stores are retail store fronts that sell both Mrs. Fields Products and TCBY Products. Collectively, the Mrs. Fields Products and TCBY Products will be referred to as the “Approved Products”.

Financial Assistance: Two of the franchisor’s affiliated entities, MFOC and MFFB, are currently on the lease for a number of existing franchised locations, and have entered into subleases with franchisees for these locations. However, neither the franchisor nor any affiliated entity intends to enter into any leases for new franchised locations moving forward. Accordingly, neither the franchisor nor an affiliate offer direct or indirect financing.

Training and Assistance: Franchisees (or one of their Active Entity Owners) and any manager of their Store must successfully complete all phases training program to the franchisor’s satisfaction. After signing the Franchise Agreement but before franchisees can register for training, they will be required to take and pass (to the franchisor’s satisfaction) an online basic skills test that includes verbal and quantitative questions. All training occurs at the franchisor’s classroom facility located in Broomfield, Colorado, or any other location designated by the franchisor. Classes are held periodically, and will last approximately six to seven days. However, the franchisor may require franchisees to continue training for a longer period of time as it may deem reasonably necessary, but not to exceed 15 days. In addition to the training, a typical trainee will spend between six and 10 hours during the course on recommended homework. The franchisor requires franchisees (or one of their Entity Owners, if the franchisee is an entity) and the initial store manager (if different from the franchisee) to complete an annual recertification program online. The franchisor will provide training for any existing or replacement store managers.

Territory: Franchises are granted for a specific location and are not exclusive. Franchisees will not receive an exclusive territory. Franchisees may face competition from other franchisees, from outlets that owned by the franchisor, or from other channels of distribution or competitive brands that the franchisor controls.

Term of Agreement and Renewal: The length of the initial franchise term is 10 years. The franchisee has the right to renew for one additional 10-year term (for traditional stores) or five-year term (other concepts stores) if not in default.

Obligations and Restrictions: The franchisor recommends that the franchisee participate personally in the direct operation of the Store, although the franchisee is not specifically obligated to do so by the Franchise Agreement. However, the franchisee must either manage the Store his or herself, or use a full time “on premises” manager. In operating the Store, the franchisee may offer for sale only those Approved Products that are approved for the franchisee to sell at the premises.

Estimated Number of Units: 840

Investment Tables:
Initial Investment for a Mrs. Fields Cookie Store
Name of Fee Low High
Initial Franchise Fee $35,000 $35,000
Travel and Living Expenses While Training $2,000 $3,000
Real Estate Lease Varies
Improvements and Equipment
Traditional Store:

Kiosk Store:

$179,495

$94,306

$262,500

$135,640
Opening Product and Soft Goods Inventory $1,000 $5,000
Grand Opening Promotion $5,000 $10,000
Security Deposits, Utility Deposits, Business Licenses, and Other Deposits and Prepaid Expenses $4,000 $5,000
Professional Fees $9,000 $10,000
Insurance (3 months) $2,500 $3,500
Coffee Preparation and Serving Equipment $2,500 $3,000
Computer Hardware and Software $3,500 $4,500
Additional Funds (first 3 months) $8,000 $12,000
ESTIMATED TOTAL
If constructing a new Traditional Store (not including real estate lease costs).

If constructing a new Kiosk Store (not including real estate lease costs).

$251,995


$166,806

$5360,500


$223,640
Initial Investment for a TCBY Store
Name of Fee Low High
Initial Franchise Fee $35,000 $35,000
Travel and Living Expenses While Training $2,000 $3,000
Real Estate Lease Varies
Improvements and Equipment
Traditional Store:

Kiosk Store:

$249,340

$103,450

$492,812

$166,687
Opening Product and Soft Goods Inventory $1,500 $10,000
Grand Opening Promotion $5,000 $10,000
Security Deposits, Utility Deposits, Business Licenses, and Other Deposits and Prepaid Expenses $4,000 $5,000
Professional Fees $9,000 $10,000
Insurance (3 months) $2,500 $3,500
Computer Hardware and Software $3,500 $4,500
Additional Funds (first 3 months) $8,000 $12,000
ESTIMATED TOTAL
If constructing a new Traditional Store (not including real estate lease costs).

If constructing a new Kiosk Store (not including real estate lease costs).

$319,840


$173,950

$585,812


$259,687
Other Fees
Type of Fee Amount
Royalty Fees 6% of Gross Revenues.
Marketing Fees 3% of Gross Revenues.
Training Fee None currently, but may be charged in the future.
Refresher Training Then-current fees - currently estimated at $500 per day per person plus travel expenses.
Special Assistance Daily fees and charges the franchisor establishes - currently estimated at $500 per day per person plus travel costs.
Late Payment Fee $100 for each delinquent payment.
Late Reporting Fee $100 for each delinquent report.
Interest Expenses Will vary under circumstances.
Audit Cost of financial audit plus interest at 1.5% per month or the highest legal rate on any underpayment -currently the cost of the audit is estimated to be $5,000
Transfer Fee $20,000
Renewal Fee $2,000
Advertising, Marketing and Promotional Materials Will vary under circumstances.
Regional Advertising Cooperative An amount determined by a majority of Cooperative members.
Maintenance, Repair, Replacement and Refurbishment Expenses Actual costs incurred.
Interim Management Fees 10% of Gross Revenues during the period of management.
UCC Filing Fees As set by state law; varies from state to state.
Costs and Attorney’s Fees; Indemnification Will vary under circumstances.

The above information has been taken from the FDD of TCBY (and Mrs. Fields). Year of FDD: 2016

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