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WAKA Franchise Cost & Fees

Date of Incorporation: 2003

Franchising Since: 2010

Headquarters: Reston, Virginia

 

Business Description: WAKA Franchising, LLC, is the franchisor of this business. The franchise or franchised business does business under the trademark, WAKA, and also uses other related service marks, trademarks or logos. The franchised business can be operated as a home-based business and requires approximately 400 to 600 square feet for a small office and for the storage of equipment and supplies. The franchised business can also be operated from a leased office. The franchise operates using WAKA’s standards, methods, procedures and specifications.

 

Franchise Offer: WAKA franchises the right to operate a business that organizes adult social sports leagues and provides services to league players, including locating and selecting playing fields and/or facilities, securing league sponsorships, setting up the playing fields and/or facilities on game days and organizing league tournaments and social events.

 

Financial Assistance: WAKA does not offer direct or indirect financing. WAKA does not guarantee the franchisee’s lease or other obligations.

 

Training and Assistance: The initial training program covers material aspects of the operation of the franchised business. The initial training program is mandatory for the designated manager and he or she must attend and complete the initial training program to WAKA’s satisfaction. The initial training program will be conducted approximately two months before the opening of the franchised business. The initial training program is conducted online and in various markets throughout the United States where an affiliate is actively managing and administering adult social sports leagues, or another location designated. Periodically, the franchisee, his/her managers or employees must attend refresher-training programs to be conducted at company headquarters or another location designated. Attendance at these programs is mandatory for the designated manager of the franchise.

 

Territory: The franchisee will receive an exclusive territory (called a “protected territory”). The protected territory will be described and depicted in a map attached to the Franchise Agreement. The boundaries of the area are determined based on Metropolitan Statistical Areas (MSA's) and Sub MSA delineations as defined by the US Office of Management and Budget. A variety of factors, including population, median population age, proximity to competitors, proximity to other franchisees and natural, physical or political boundaries are also taken into account.


Term of Agreement and Renewal: The initial training program covers material aspects of the operation of the franchised business. The initial training program is mandatory for the designated manager and he or she must attend and complete the initial training program to WAKA’s satisfaction. The initial training program will be conducted approximately two months before the opening of the franchised business. The initial training program is conducted online and in various markets throughout the United States where an affiliate is actively managing and administering adult social sports leagues, or another location designated. Periodically, the franchisee, his/her managers or employees must attend refresher-training programs to be conducted at company headquarters or another location designated. Attendance at these programs is mandatory for the designated manager of the franchise.

 

Term of Agreement and Renewal:  The initial franchise term is 5 years. The franchisee may renew for three successive renewal terms of five years each, if conditions are met.

 

Obligations and Restrictions: The franchised business must always be under the direct, full-time, day-to-day supervision of a designated manager. If the franchisee an individual, we may require the franchisee to be the designated manager of the franchise. If the franchisee is a corporation or other business entity, a designated manager for the franchise must be selected and WAKA may require that the individual selected is an owner of at least 15% of the franchise. The franchisee may not sell any services or products that not authorized and must discontinue offering any services or products that WAKA may disapprove. If the franchisee fails to meet the expressed minimum sales quotas during any period as set forth, WAKA may take termination actions of the franchisee’s territory or franchise agreement.


Estimated Number of Units: 70

 

Investment Tables:
Initial Investment:

For a traditional location:

Name of Fee Low High
Franchise Fee $20,000 $112,500
Real Estate/Rent $0 $1,000
Utility Deposits $100 $300
Leasehold Improvements $0 $500
Equipment Sets $500 $1,500
Insurance $3,000 $6,000
Office Furniture, Equipment and Supplies $100 $3,000
Training $500 $3,000
Signage $100 $1,000
Computer $300 $1,500
Initial Launch Marketing $2,500 $10,000
Licenses & Permits $5,000 $10,000
Legal & Accounting $1,000 $5,000
Additional Funds (3 months) $500 $5,000
ESTIMATED TOTAL $28,700 $151,300

 

Ongoing Costs:

Type of Fee Amount
Royalty (Player Registration Fees) 12% of gross revenue or $6.60 for each player registration, whichever is greater
Royalty (League Sponsorship Fees) 12% of gross revenue or $1.20 for each player registration that is part of the sponsored league (without regard to the number of sponsors), but if there are no league sponsors, the Franchisee shall pay Franchisor ONE DOLLAR AND TWENTY CENTS ($1.20) for each player registration, which payment shall be in addition to any other payments set forth, whichever is greater.
Royalty (On Gross Revenues other than Player Registration or Sponsorship Fees) 12% of gross revenue
Ongoing Purchases of Equipment Approximately $1,500 to $6,097 per year
WAKA T-Shirts Approximately $5,250 to $21,338 per year
Technology Usage Charge $1.95 per registration
Marketing Fund Contribution Currently, 1 % of gross revenue
Audit Expenses All costs and expenses associated with audit, approximately $1,500 to $5,000
Late Fees 1.5% per month or the highest rate allowed by the stale where the franchisee is located (whichever is lower)
Approval of Products or Suppliers $500 to $1,000 per occurrence
Insurance Policies Approximately $350 per month
Transfer Fee $10,000
Relocation Assistance Approximately $750 to $1,500
Customer Service All costs incurred in assisting the franchisee’s customers, approximately $3,500 to $7,000
Substitute or New Manager Training/ Additional Training Currently, $500 per day, plus the franchisee’s expenses in attending
Additional Operations Assistance Currently, $600 per day plus our expenses
Cost of Enforcement All costs including reasonable attorneys' fees
Temporary Management Assistance Currently, $600 per day, plus WAKA’s expenses
Credit Card Fees Actual costs to WAKA
Indemnification All costs including reasonable attorneys' fees

The above information has been compiled from the FDD of WAKA. Year of FDD: 2012.

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