Franchise FAQs
Q: Do I need specialized medical training or similar experience to open a Good Feet Store?
A: No. Good Feet is a retail service business that requires management, service and personnel development skills and experience. We are not a medical business. Our comprehensive training program and franchise support center will give you the knowledge, assistance, tools and confidence you need to successfully open and operate your Good Feet Store.
Q: Do you provide training? If so, is training mandatory?
A: Yes. Good Feet provides a comprehensive training program at its Franchise Support Center in Northern San Diego County. Attendance at this training prior to opening your location is mandatory. After completing the initial training, you will continue with the Good Feet Gold Star training program, a four-month management course that will ensure success in your stores. You will attend training 2 days each month for three months, with homework and follow up calls in between. The training is extensive and provides you with a tremendous foundation on which to build your success. Additionally, Good Feet offers an on-line certification program for your sales staff. After successfully completing the on-line training, your staff will become Good Feet Certified Arch Support Fitters. Initial franchisee training is included for two people as part of your franchise fee.
Q: Do I have to personally manage my franchise or can I put it on “auto pilot?”
A: Good Feet franchisees should plan to be very involved in their businesses on a day-to-day basis. Unlike a car wash or laundromat, Good Feet Stores are very service oriented and part of the success of your store comes from the relationships and reputation you build in your community. Many Good Feet owners start by working daily in their first store, then build a management team as they grow. Those owners go from working “in the business” to working “on the business.”
Q: What type of return can I expect on my investment?
A: Good Feet encourages you to conduct significant due diligence during your discovery process and contact our existing franchisees with questions about marketing, finances, product margins, sales volumes, operations, etc. The amount of profit or loss is dependent on a number of factors, including your ability to manage the business, drive sales and control operating costs.
Q: Does Good Feet select the site where my Good Feet Store will be located?
A: No. While we define the territory and provide you demographic information and guidelines on commonalities in our locations, you select your own site. We can provide tools to help you to negotiate your lease once you’ve identified the location where you would like to operate your store.
Q: What is the franchise fee?
A: The initial franchise fee for your first Good Feet location is $25,000. If you are planning to open additional stores in the same territory, the franchise fee for each additional store is $10,000.
Q: What are the monthly fees?
A: The monthly on-going fee is a flat fee of $1000.00 per location. We allocate a portion of that fee to the Advertising Fund and the remainder to the management fund.
Q: What are the minimum financial requirements to become a franchisee?
A: Depending on the number of stores your desired territory may need, requirements may vary dramatically. We DO require that every franchisee have a belief in the products and systems, a willingness to make a full-time commitment to the business, attend all required training sessions, be customer service oriented, and have knowledge and familiarity with the area in which you plan to open your store. In terms of adequate capital, we estimate that franchisees should have a minimum net worth of more than $250,000 and the ability to secure capital necessary to open and operate each location.
Q: What does the franchise agreement look like?
A: Once you complete and submit our franchise application, we will send you our Franchise Disclosure Document. Commonly referred to as the FDD, this document provides full and complete disclosure information about the company, our systems, requirements and structure. The document also includes a sample of the franchise agreement you would enter into. We advise you to take this information to your advisors (CPAs, attorney, business consultants) during your due diligence process to assist you in making the most informed choice possible.
Q: What kind of support can I expect from Good Feet as I am opening my store?
A: Good Feet’s franchise support center can assist you every step of the way, from choosing a territory and signing your franchise agreement to training and opening. You’ll work closely with our field services department on your lease negotiation, store build out and décor, signage requirements, initial inventory purchase and merchandising, POS system assistance, media negotiation, vendor relations and training.
Q: What kind of franchisee support services does Good Feet offer?
A: Good Feet’s support is exceptional and extensive! Franchisees benefit from Good Feet’s Gold Star training program, including operations and training manuals, sales training DVDs, on-line training certification programs, money saving exclusive vendor relationships, private website with message board, advertising materials, marketing and promotional calendars, media products like TV and radio commercials, infomercials, print ads, press releases, and more. You’ll have the tremendous advantage of having Emmitt Smith as your celebrity spokesperson! Enjoy frequent and on-going communication with your support staff through quarterly teleconferences, newsletters, in-person regional meetings, franchisee Advisory Council teleconferences and an annual franchisee convention!
Have any more questions? Give us a call!
(800) 483-7194
