HOW MUCH DOES A PREMIER FLOORBALL FRANCHISE COST?
A Premier Floorball Inc. franchise varies in price depending on the number of Area rights purchased.
A Premier Floorball Inc. Area is defined as one or more municipal communities that feed a single Hockey Canada sanctioned minor hockey association.
The initial price for rights to a SINGLE Premier Floorball Inc. franchise Area is $12,000*
($5,000* franchise fee plus $7,000* for initial start up costs).
A franchisee may opt to incur optional costs with establishing floorball clubs within their Area.
In the case where a franchisee applicant wishes to extend the initial Area to include MULTIPLE Area(s) franchise rights (typically adjacent communities and with multiple minor hockey associations), the franchisee applicant will be required to pay an additional franchise fee per Area(s) plus any additional products or services needed to support this additional Areas. Franchise fees for additional rights to MULTIPLE Area(s) are less than the initial franchise fee.
Franchisee have the option to purchase additional products and services from Premier Floorball Inc. over and above what is included in the initial franchise fee. Franchisees will also require working capital to initially start their business so they can expect that the initial investment will be more than initial franchise fee.
*applicable taxes are additional
WHAT ARE THERE ANNUAL COSTS ASSOCIATED WITH OWNING A PREMIER FLOORBALL FRANCHISE?
Franchisees are required to grow their player registrations (i.e. Enrollments) in their Area each year. This ensures the franchise is better positioned to sustain business growth and offset operational expenses as well as the annual fees needed to operate their franchise. Mandatory costs such as monthly software licensing fee, annual subscriptions (web hosting, domain renewals etc.) and annual training/certification fees are “passed through costs” to the suppliers who provide these products & services on behalf of Premier Floorball Inc. (i.e. Approved Suppliers).
Annual Floorball Canada membership dues for players, coaches, administrators and officials are a requirement for franchisees and are dependent on the number of players (Enrollments) that register each year for Floorball Club Leagues and U10 Club Leagues.
These dues are essential for the National Sports Organization to create better training programs, continuously update certifications and continue to develop and maintain pathway/structure for players, coaches and officials of national teams. These membership dues vary and are set by Floorball Canada.
ARE THERE ANY ROYALTIES?
Yes. Although Premier Floorball franchises are not required to pay a percentage of their overall revenues, like conventional franchise systems, they are required to pay a Support Service fee on player Enrollments as well as an Administration fee for one time, single floorball events (clinics, workshops, parties etc.)
These Support Service fees are used by Premier Floorball Inc to help support franchisees by advising/ training them on marketing, operations, business development as well as consultations to improve the overall franchise system (See WHAT CAN I EXPECT FROM PREMIER FLOORBALL INC.?)
Additionally, an annual per player flat fee is required from each franchisee to be used towards a fund for national advertising campaigns or program developments.
This is a one-time fee each year regardless of the number of times a player participates in floorball activities/games or tournaments during that year. An Advertising Committee, comprising of Premier Floorball Inc. representative and elected franchisees decide on the best use for this fund.
ARE THERE ANY ONGOING COST THAT A PREMIER FLOORBALL FRANCHISEE SHOULD BE AWARE OF?
Yes. Like any business a franchise will incur expenses to operate their clubs, tournaments, demonstrations and other floorball activities. These expenses can be in the form of space rental fees (i.e. gym or lease rentals), equipment purchases, referee wages, convener commissions, advertising costs, general marketing campaigns, insurance, vehicle expenses, uniforms, office expenses etc.
Depending on each franchisee needs, additional operating/ overhead expenses may be needed to operate their business. Franchisee determines their own operational expenses however, in some cases, Premier Floorball Inc. may be able to negotiate bulk buying agreements with Approved Suppliers to help franchisee lower these expenses.
IS A PREMIER FLOORBALL FRANCHISEE REQUIRED TO WORK IN THE BUSINESS FULL TIME?
Yes. Each franchisee should immersed themselves into the operations of the franchise to help grow their business and to meet, or exceed, minimum player Enrollments (i.e. registrations into clubs), particularly their first franchise.
Being actively involved in a franchise increases the likelihood that the business will deliver superior quality service for players, coaches, officials as well as be managed better so as to sustain growth.
Premier Floorball Inc SINGLE franchise rights are a “lifestyle business” and as such, they do not require full time hours so offer franchisees the ability to be flexible with their schedule and continue to work at their career, find time for personal development and continue to spend time with their family.
If the franchisee can demonstrate that they can meet their performance requirements and sustain quality expectations from their volunteers or hired staff, then Premier Floorball Inc. may make an exception and permit the franchise to work part time or manage the franchise at arms length. This is more applicable if they operate MULTIPLE franchises.
If, however, Enrollments are below acceptable minimums and/or the quality of operation is under performing or worse, deteriorating to the point of damaging the brand or risking closure, then the franchisee will be required to re enter the daily business operations to cure/curtail any shortfalls or issues that may jeopardize the success of their franchise.
CAN A PREMIER FLOORBALL FRANCHISE EARN EXTRA REVENUES FROM THIS BUSINESS?
While the primary source of revenues for a franchise is on player registration fees into club leagues and U10 programs (i.e. Enrollments), there are a number of other floorball activities that can generate additional revenues and serve to build interest in floorball such as:
- school workshops programs
- group & team parties
- minor hockey cross training clinics
- drop in & play floorball sessions
- Discover Floorball Nights
- corporate team building activities
These are quick to set up, easy to deliver and can generate ancillary income to help with cash flow during the months between floorball club season(s).
These activities also serve as a opportunity to promote floorball and allow newcomers to “taste test” the sport of floorball.
Additional income opportunities are also available through the resale of equipment and Premier Floorball apparel.
(Premier Floorball Inc. negotiates wholesale prices from “Approved Suppliers” so franchisees can benefit from the retail price margins).
Sponsorship is another means to extra revenues. Many local and national business are seeking advertising outlets to help build their brand, particularly at the community level where they can connect more intimate with their ideal target audience.
(Premier Floorball Inc. equip franchisees with the tools and training to acquire sponsors).
CAN I BE ASSURED TO MAKE AN INCOME FROM A PREMIER FLOORBALL FRANCHISE?
Unfortunately, there are no guarantees. The financial success/ loss of owning any business is primarily dependent on the input and efforts of each franchisee. Economics, community environments, competition, personnel and many other external factors can also dramatically affect any business revenues.
Premier Floorball Inc.s help to better the odds of success by providing training, resources and ongoing support in business development, marketing and operations.
Owning a franchise shortens the learning curve, gives direct access to experts in their field, connects like minded business owners for support an innovation and alleviates the sole burden/risks that many independent entrepreneurs experience with going in alone on a DIY business.
Premier Floorball Inc. relationship with franchisees is one of a ‘strategic partnership‘ where each brings their talents, hard work and expertise together for a shared responsibility in growing the business and delivering superior quality services/products to our players, coaches, officials and administrators.
It is important that applicants consider their lifestyle needs, family responsibilities, financial resources, time, health and any other influences before committing to purchasing the rights to a Premier Floorball Inc. franchise.
WHAT CAN I EXPECT FROM PREMIER FLOORBALL INC.?
In addition to providing the initial start up training, equipment and software, Premier Floorball Inc. also provides an ongoing suite of Support Services to help franchisee start, build and grow their ‘youth sports business’.
While franchisees operate in their business, Premier Floorball Inc.’s team continuously works on the business. Some of those initiatives include:
- building better programs & training
- refining systems to be more efficiency and save time & money
- testing new marketing strategies
- building stronger relations with national/ international governing bodies of floorball
- forming new partnership with Approved Suppliers for better products and pricing
- sponsoring major floorball events and building the brand
- securing national sponsorship revenues to share with franchisee
- finding ways to support youth who cannot afford to play sports
- continuously work closely with each franchisees to partner on programs that give back into their communities in a charitable way
- network with experts and international organizations that are advocates for the betterment of youth sports
- establish new standards and best practices for the organized youth sport industry
Premier Floorball Inc. is constantly exploring better ways in serving our franchisees to help deliver a better “floorball experience” to our players, coaches, officials and administrators.
WHY SHOULD I BUY PREMIER FLOORBALL FRANCHISE VERSUS STARTING MY OWN CLUB?
Purchasing any franchise versus starting an independent business offers far more pros than cons.
Buying a franchise consists of two main parts:
1. Purchasing the ready made proven model of expertise, resources, tools and established systems
(i.e. Initial Franchise Fee)
2. Having ongoing access to support, advice, partnerships, training and innovative product developments to mitigate risks, grow and sustain the franchise.
The challenge with starting an independent floorball “club”, unlike buying a franchise, is that there will likely be an extended period of time (and costs) to learn about what works and what does not work in a youth sport business. This ‘learning curve’ time will consume time and financial resources and pose many hurtles to get momentum and grow. Starting a running a floorball “club” is not complicated but traditionally comes with a higher risk (and possible costs).
Starting and operating a floorball “business” on the other hand provides a quicker means to get up and growing. The learning curve and risks have already been discovered and systems, proven marketing strategies, operational “know hows”, training, technology and resources have already been created. A team of experts ‘partners’, who all have a vested interest and experience, are readily available to ensure franchise owners significantly increase their probability of success.
In purchasing the rights to a Premier Floorball Inc. franchise, business disciplines have been established and proven to work for the operation of youth sports business:
- training (floorball, business operations, coach & referee training )
- processes (floorball activities, recruitment, event operations)
- club policy & procedures (safety, discipline & risk management)
- marketing (social media, branding, advertising collateral)
- software (online registrations, payment collection/ accounting, reporting, database marketing)
- equipment (no inventory, preferred pricing, quick delivery)
If someone was to poll the franchise market, they might discover that the initial franchise fee MAY be less expensive than the lost in time and money associated with getting through the learning curve of starting a DIY floorball club from scratch.
Going in alone can be a formula for more stress (and possibly burn out) on many entrepreneurs.
Trying do solely grow and sustain a youth sports business, particularly one that is not well known, is daunting and draining on personal resources.
Not having a network to collaborate about innovative ideas, new product lines, more effective marketing campaigns or smarter/best business practices strategic plan nor having systems & processes that are continuously being improved upon can be limiting to a independent business owner.
WHY PREMIER FLOORBALL
Premier Floorball Inc. and its franchisees share responsibilities. Each ‘partner’ contributes by spending time doing what each does best, for the mutual betterment of each other (and their customers).
Support Service fees serve as a means to ‘hire’ experts and consultants to advise, guide and research on behalf of the franchise while they focus on taking care of their business and customers. In the end both parties work together to develop a better business for all.
Astute entrepreneurs do more than just create a job for themselves that requires long hours. They find ways to utilize others resources and create a business that will eventually rely less on their time, maintain profitability, build brand and create a lasting value and favourable return on investment.