Mr Cod franchise set up costs are shown below:
- Franchise Option Fee - Mr Cod currently charges £5,000 as an initial fee. A further £5,000 will be payable on opening each franchise unit within the franchisee territory.
- Ongoing Royalty - Mr Cod charges an ongoing royalty payable monthly. The royalty is a fixed fee, not a percentage, agreed between franchisor and franchisee for the term of the licensing agreement, and is dependant on shop size and location.
- Equipment and Shopfitting Costs - The investment required to set up and launch your first Mr Cod can range from between £83,000 and £150,000. See below.
- Prices quoted below is for a standard size shop. All Prices depending on shop size.
The table below sets out the estimated costs involved in opening a take-away Mr Cod shop. The figures provided are for illustrative purposes only.
|Signs & display units
|Administration (legal & property)
|Additional cost of opening (promotion etc)
Turnovers are not easily predicted as they will vary from site to site dependant on location, but current research shows that the ticket average at Mr Cod ranges from £3.50 to £4.50 per head. Gross margins, after food and packaging costs are approximately 65%.
Franchisees are encouraged to spend up to 4% of their turnover on promotional and advertising activities within their territory in order to help their business succeed. The company will provide franchisees with tried and tested ideas using the Mr Cod brand and logos, which must be respected on all materials. As part of the recent marketing activity aimed at developing the brand, plans are in place to set up an advertising co-operative in the near future.