franchise-faqs
What is the Goldilocks Franchise Agreement?
What is the Goldilocks Franchise Agreement? The Franchise Agreement grants to the franchisee the right to operate a specific Goldilocks Store, at a single address, for a period of 8 years. These rights include the use of Goldilocks trade name and trademarks, proprietary products, store design, signage, and use of Goldilocks methods of operation.
In return the franchisee agrees to operate the business in accordance with the Goldilocks established standards of quality, service, cleanliness and customer service. The Franchisee is expected to do his utmost best to operate his store to achieve the fullest potential of the store in terms of profitability and customer delight.
What does Goldilocks look for in a prospective Franchisee?
Goldilocks looks for a franchise applicant with the following characteristics:
- Highly motivated and shares the same values as Goldilocks in terms of commitment to quality and service.
- Dedicated to running the business on a full time basis, not as an investor but as a hands-on operator.(owner/manager)
- Financially capable of meeting the financial requirements
- With an entrepreneurial drive willing to take calculated risk, and with the strong desire to succeed.
- With business management skills preferably with food or retail experience.
- Very good interpersonal relationship skills.
- Willing to operate within the Goldilocks system
How much is the franchise fee?
The franchise fee, which is paid upon the signing of the franchise agreement, is for the right to use the franchisor's trademark and business system as well as for the pre-opening activities at the start of the franchise agreement such as site evaluation, assistance in recruitment and training for the initial store team.
Franchise fee for the bakeshop is P800, 000.00 and for the Full Store P1.2 Million.
(Exclusive of VAT tax)
What is the investment cost for a Goldilocks franchise?
Investment cost will vary depending on the size of the store, the location, type of store and several other factors.
Investment cost for a Bakeshop is estimated at P 6 to 8 Million and for the Full Store at P 10 to 15 Million.
Investment cost will cover the Following:
- Franchise Fee
- Collateral
- Design and Construction Management Fee
- Leasehold Improvements
- Operating Equipment
- POS- Point of Sales w/ Hardware Package
- Refrigerated Delivery Truck
Does Goldilocks provide financing?
No, Goldilocks does not provide financing.
How long is the Franchise Term?
The Franchise term is for eight (8) years.
How much is the royalty fee?
The royalty fees are paid on a monthly basis for the on going use of the Goldilocks name and systems as well as for the continuing support activities of Goldilocks.
a) Full Bakeshop- 4% of total value of bakeshop products purchased. Based on the store selling price.
b) Foodshop-8% of total monthly gross sales.
How much is the Advertising Fee?
The advertising fee is 3 % of the total sales derived from both bakeshop and foodshop and is paid on a monthly basis.
Will training be provided?
Goldilocks will provide training for one Managing Director, the management team and the crew who must all successfully complete the Store Operations Training Program.
The training for the initial batch of hires will be free of charge but all succeeding training for new employees will be charged.
Training excludes salaries, meals, transportation, lodging cost of the employees and out of pocket expenses of trainers for training activities conducted outside of Metro Manila.
The Franchise Managing Director and store crew will also be required to attend trainings during the duration of the franchise term to upgrade their skills.
A Goldilocks Operations Manual will be provided for reference purposes and will be updated as needed. Will Goldilocks provide the manpower to operate the store?
Goldilocks team will assist the franchise in the recruitment of its personnel in terms of screening and testing free of charge for the initial store team but recruitment cost will be charged for succeeding hires. Transportation, lodging cost and out of pocket expenses incurred for localized hiring outside Metro Manila will be charged to the franchisee.
The store personnel will be directly hired by the franchisee and will be responsible for their salaries and benefits.
Who looks for the location?
When you apply for the Goldilocks franchise, you may propose a site location, together with an initial market study of the proposed site, which will include the foot and vehicular count, and demographics (area profile). Our Business Development Department will assess the site and validate the market study.
What are the required sizes of the store space?
a) For the Bakeshop – Minimum of 40 – 60 square Meters
b) For Full store – Minimum of 160 – 200 Square Meters
Is there a standard store design?
Yes, there is a standard Goldilocks store design, lay out, equipment and facilities requirements for each type of store.
What continuing support will I receive?
On going support includes regular in – store visits to help you identify areas of improvement, assistance in the development of marketing and customer relations programs and activities, new operating procedures, and much more. What will my return in investment be?
Although the brand name of Goldilocks is a strong sales inducing factor, the amount of revenue a franchisee can expect to make will greatly depend on the ability of the franchisee to manage the business, drive sales volume, and control operating costs.
Is there territorial or area exclusivity?
Goldilocks does not grant territorial exclusivity. Stores may be situated depending on market and customer needs.
How can I apply for a franchise in the Philippines?
1) Download and print a copy of the Goldilocks Franchise Application Form.
Franchise Application Form 1-4Franchise Application Form 5-6Franchise Application Form 7-122) Prepare the following
- Letter of intent addressed to the Franchise Relations Manager
- Address, location, and vicinity map of proposal (to include site description, including business establishments within 1 km. radius)
- Filled up Goldilocks Franchise application form
3) Mail the documents to:
GOLDILOCKS BAKESHOP INC.
Franchise Relations Department
439 Shaw Boulevard
Mandaluyong City 1550Or email us at:
lin.deres@goldilocks.com.phI am interested in selling Goldilocks products or applying for a franchise in other countries. Where can I ask for more information?
For more information on foreign franchising please
click here.