“Quick Mart” Franchise in USA Cost, Profit, Investment, How to Apply?| SkillsAndTechSkillsandTech | September 11, 2021 |
Quick Mart is a convenience store chain that offering food, beverages, and gas at a reasonable price. The chain was founded in 1965, but the first Quick Mart convenience store franchise only became available for purchase in 2007.
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Quick Mart Franchise Wiki
Quick Mart is a chain of convenience stores that provide high-quality food, beverages, and excellent customer service at competitive prices. The company features user-friendly applications and home delivery service. The brand was founded in 1965, but the Quick Mart franchise opportunity was not available until 2007. In the past 14 years, the chain has grown to 20 units in the United States and other countries.
|Incorporated Name||Quick Mart|
Choosing to franchise Quick Mart over other brands has many perks. There is no credit score required, no proof of funds necessary, no net worth requirements, no lengthy approval process (1-week maximum), and no experience necessary (complete training provided).
Aside from those never-ending perks, you can also choose the city and location of your store (prime locations available), absentee ownership is allowed, multi-store ownership is encouraged, and exclusive territory rights are possible and can be paid for $75,000. So you can pretty much own exclusive rights for an entire location you choose.
In the previous 14 years, the company has expanded to 20 locations in the United States and other countries. Their franchisees receive a handy app that helps boost the number of purchasers, ongoing marketing and training support, and access to a successful business model for a reasonable franchise investment and fees.
How much does it cost to open a Quick Mart?
To start your own Quick Mart location, you will need to have at least $200,000 of liquid capital. You should also expect to make a total investment of $250,000 – $350,000. Take our 7-minute franchise opportunity quiz to find a business that fits your budget and goals.
|Fees or Expenses||Financial Amount|
|Net Worth||No net worth requirements|
|Total Investment||$250,000 – $350,000|
|Franchise Fee||No franchise fee required|
Liquid capital – (also known as cash required) refers to the entire amount of cash you have available and could access without a traditional loan.
Net worth – refers to the value of all your non-financial and financial assets minus the value of all your outstanding liabilities.
Total investment – is the total capital or the total money you will need to put into the franchise overtime to get it up and running.
Franchise fee – refers to the amount you must pay to the franchisor to use its brand and resources.
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You will need $200,000 in liquid capital to purchase a Quick Mart franchise. Additionally, the total investment you can expect to pay overtime to get the franchise up and running is $250,000 – $350,000. The benefit of purchasing a franchise of this business is that there are no net worth requirements and no franchise fee to pay.
Aside from the perks mentioned above, Quick Mart will also not require you to pay advertising fees, royalty fees, monthly service fees, and you get to keep 100% of sales (no revenue split). This is huge since you’ll get to retain all the profits of a well-managed store.
In comparison, 7-Eleven, one of Quick Mart’s competitors splits revenue 55/45 and charges a higher franchise fee. I can’t understate the low-cost of starting a Quick Mart from a fee perspective compared to similar concepts.
Quick Mart Franchise Profit / ROI / Average Sales / Revenue Per Year
The amount of sales that a franchisee can obtain depends on plenty of factors, and some of these factors can be the location of the store, marketing, and degree of competition. Quick Mart does not disclose any official data regarding their systemwide annual sales, average annual sales per unit, and average franchisee profit.
However, we can look at the estimates provided by actual convenience store owners. According to Indeed.com, the average convenience store owner takes home about $66,000 annually, and after a few years of successful operation you can earn as much as $75,000 to $100,000.
How Much Profit Does A Quick Mart Franchisee Make Per Year?
Your profit as a franchisee of Quick Mart depends on many factors, such as the degree of competition in the market, your marketing tactics, management, and labor costs. Quick Mart does not disclose any official data regarding the average annual profit of their franchisees. However, we can look at some testimonies from actual convenience store owners as a guide.
In the beginning, most convenience store owners only make $30,000 per year on a single location. If you are the only convenience store owner in a 50-mile radius and see a high turnover of customers coming in and out on a regular basis, it may go much faster, and you will reach your goal of earning $75K or more in three years.
As mentioned above, owning a certain degree of exclusivity within a given geographic area is an important factor of profitability. The good news is that Quick Mart actually offers an exclusive territory option. This means that you have the option to own the exclusive rights for an entire city like Santa Monica or any other city you choose, and Quick Mart will charge you at flat rate of $75,000.
How to Apply for Quick Mart Franchise?
You can apply through Quick Mart Website. Click here to apply for franchise.
Fill up the form. The sales team will contact you.
Advantages of Franchising Quick Mart
There are many things to consider before proceeding with your franchise plan. Aside from the financial requirements, you also have to consider other factors (i.e. whether the franchisor provides training to franchisees or not). With that being said, here, I highlight the main benefits of owning your own Quick Mart c-store to help you make a more informed decision.
One of the biggest perks of buying a franchise of Quick Mart is that they will provide training support. Training is one of the most critical aspects of franchise support and may play a huge role in any franchise support system. Among its purposes is to make sure there is a proper understanding of the business and brand integrity. It can also be the difference between a struggling franchisee and a thriving one.
No Franchise Fee Required
Quick Mart does not charge a franchise fee, and the cost of the total investment you can expect to pay overtime to get this franchise up and running is cheaper than other convenience store chain options. In contrast, 7-Eleven, one of Quick Mart’s competitors, requires up to $1,000,000 franchise fee and has a net worth requirement.
It’s a common theme among franchise owners to feel like you’re doing all the work, only to send royalty fees, transaction costs, and a percentage of the revenue off to corporate. This isn’t the case with Quick Mart. If you build a successful store and earn more, you get to keep the lion’s share of the profit.
The Quick Mart franchise gives you the opportunity to operate within a protected territory (available for $75,000). This means that you have the option to own a certain degree of exclusivity within a given geographic area.
The franchisor usually agrees not to open other franchises in the designated area, or may grant you exclusive marketing rights in that area. Therefore, you will face less competition from other Quick Mart franchisees, and your business will grow faster. Believe it or not, there are a number of franchise businesses like Subway that don’t offer this exclusivity by region. Subway has been criticized over the years by franchisee’s for this.
No Lengthy Approval Process
You don’t have to wait for a lengthy approval process when you decide to buy a franchise of Quick Mart. Rather than waiting months and months for approval, Quick Mart determines whether or not you are an excellent candidate in a shorter amount of time.
For prospective franchisees who are having difficulty acquiring franchises in other convenience stores this chain features a faster approval process that can help you get your business up and running in no time.
No Revenue Split
The no-revenue split is no doubt the victor among all the advantages mentioned. Unlike other convenience store franchises, Quick Mart allows you to keep all the revenue to yourself. One of Quick Mart’s greatest competitors, 7-Eleven, splits their franchisees’ revenue 55/45, and their fees go up the more money their franchisees make.
Challenges of Franchising Quick Mart
Along with the advantages of owning a Quick Mart franchise, there are also drawbacks to consider, and it’s necessary to think about these issues before committing. Here’s what I view as the challenges of this business.
Long Operational Hours
Convenience stores such as Quick Mart are open early in the morning and then closed late at night, or open 24/7 to meet the needs of local customers. Managing a convenience store with longer operational hours can be exhausting and can cause burnout to the staff.
Furthermore, longer operational hours are by far the most significant factor leading to robbery. The chance of being targeted is higher in the late evening and early morning hours because there are fewer individuals around—other customers, police, or passersby—who could interfere.
Having an establishment that requires longer operational hours poses a staffing challenge. Finding people to work regular hours might already be challenging, but the graveyard shift can be much more difficult in the present job market. There’s also the potential of harmful situations such as robbery or persons who are intoxicated or unruly, which tend to occur more frequently late at night.
Staffing costs can also be a problem. The more people you need to hire, the more budget you will need for labor costs. The reality is that many convenience store owners put in a lot of hours and do practically everything themselves in order to keep labor costs low and revenue high. Be realistic on whether or not you want to commit to this lifestyle the first few years in business.
A smaller chain may have room for expansion opportunities, but it may be less well-known than larger chains. The reality is Quick Mart is not well known outside the surrounding area of Tucson, Arizona. Because the other convenience store franchises are more prominent, yours may require more branding and marketing to thrive and grow. You won’t have the support of national advertising campaigns like other convenience stores.
Is the Quick Mart Franchise Right For You?
Starting a convenience store will cost you time, effort, and money. Hence, you want to make sure that every resource you invest in is worthwhile. So, before you embark on this venture, you should carefully assess whether it is the right business for you. As a self-reflection, ask yourself the following questions:
Are you passionate about running a convenience store? It’s simple to say you want to start a c-store, but do you see yourself doing it for a long time? Are you so committed to this business idea that you will work on it consistently until it succeeds? Are you willing to sacrifice long hours away from the family to ensure it works?
Are you willing to invest your time in this business? For a business to be successful, it necessitates a significant investment of time, money, and energy. Hence, you must be willing to make a lot of sacrifices in order for the business to succeed in the early days.
These are just a few of the numerous questions you should ask yourself as you plan to start a business. Remember that one of the keys to your success as an entrepreneur may just be introspection.
Is opening a convenience store profitable?
Historically, the typical profit margin for a convenience store has been extremely low, ranging about 2% for independently owned stores. Hence, convenience store owners must continually manage high fixed expenditures such as rent, inventory, and operating expenses all while optimizing product and price mix and attracting foot and car traffic.
C-stores mark up their items substantially higher than grocery stores or other retail outlets to account for convenience and to capitalize on impulse purchases. Typically, markups range from 10% to 20% more than what a conventional grocery shop would charge, and might be much higher for a highly sought-after product.
Knowing your product margins and having the product mix and display right in your business are important steps toward increasing your profit margin. The figure below depicts the average gross margins for various product kinds.
Some of the food items you can expect to see at Quick Mart include pastries, breakfast sandwiches, burritos, a deli, chips, candy and Hot Stuff Pizza. Quick Mart’s are known for having a wide variety of food options on their menu at affordable prices. The store also sells a variety of beverages like coffee, soda, water, bottled juices, and beer.
What is an alternative Quick Mart franchise?
Are you still looking for other convenience store alternatives? You can try 7-Eleven. They currently operate over 71,000 outlets in 17 countries. Snacks, drinks, quick dinners, and, of course, Slurpees are widely acknowledged as the prime destination for this c-store chain. The liquid capital necessary to operate a 7-Eleven is $50,000 – $150,000, and expect to invest between $1 – $1.25 million dollars for franchise fees.