Uptown Cheapskate Franchise In USA, Cost, Profit, Contact No Cost, Profit, Benefits, Contact Detail, Requirements, Kaise Le, Apply

The business sector grows and changes just like any other thing in the world. Sometimes, young people can feel uncomfortable dealing with older business models and struggle to find the motivation to start a new business and keep fighting to build a successful career.

When starting a new business, it’s important that you dedicate yourself to something you like, you feel comfortable with, and if you belong to the same generation and segment of your clients, the better. The franchise we’re discussing in this article is aimed at young adults from any point of view. It sells items to young adults and it is also aimed at young adult franchisees.

Wiki

Uptown Cheapskate is a relatively new franchise: it was founded in 2009 and it started as a franchise chain from day one. Since 2009, the business has grown exponentially. Today it counts 637 employees all across the United States and has a $74.6M annual revenue.

The idea for the business came to Chelsea Sloan Carroll, co-founder of the company when she was very young and serving in the church. She shared her idea with her brother, Scott, and together they opened the very first Uptown Cheapstake re-sale store.

As mentioned, their idea was not to open a single store but a chain of stores. The first franchise store (which was the second of the chain) was opened only a few months after the opening of the first and main center.

Today, Uptown Cheapskate has spread into 80 locations and 23 states, and it is continuing to grow.

Benefits

See Also: Ductz Franchise

This is highly confidential information. Because this company had not disclosed it. You can only know about this after applying for the franchise. All this will be discussed when the basic criteria are met and fulfilled. You can know the procedure as follows.

Financial Assistance

Uptown Cheapskate provides financial coaching but the company doesn’t provide any direct financial support. If you need funding, you need to rely on third-parties financial institutions, but make sure you make the company aware of your funding plans.

See Also: How to Sell on Naaptol

Cost/ Investment

Company name	Uptown Cheapskate
Business Model	Resale franchise stores
Initial Investment	$300,000
Franchise	YES
Franchise Fee	$25,000
Royalty fee	5%
Number of outlets	80

When opening a new Uptown Cheapskate store, your total initial investment would comprise all the money your need to set up a new store, and the initial franchise fee.

In this case, the franchise fee is $25,000. The total investment dedicated to the location and furnishing would be around $200,000. In the case of a resale store, like this one, you can save some money on inventory.

However, when launching a business like this, you don’t have many vintage clothes and accessories to buy from your clients, so you’ll need a little investment for the initial inventory. You also need to dedicate a budget for buying items from your clients.

Taking every expense into consideration, including the franchise fee, you can calculate a total initial investment of about $300,000.

The franchise fee isn’t the only fee that this franchise requires. There is also a 5% royalty fee. This isn’t included in the initial investment because you don’t need to pay it when you launch your business. The royalty fee is calculated on your profit. The advantage of having a royalty fee calculated as a percentage (which is not a fixed amount, that is to say) is that if you have a small profit you have to pay a small royalty fee.

You are never in the place of not being capable of paying the royalty fee. This can be important and highly advantageous, especially at the beginning of your activity.

See Also: How to Sell on Shopclues

Requirements

Sometimes, franchises require a specific net worth from their franchisees. It’s a form of guarantee that ensures them that you are capable of paying your fees and setting up your new business in the proper way.

Uptown Cheapskate has such a requirement. In particular, they require a net worth of $200,000 or higher.

Uptown Cheapskate: Terms Of Agreement And Renewal

See Also: How to Become a Paytm Seller

The franchise contract with Uptown Cheapskate doesn’t have a deadline. You remain an Uptown Cheapskate franchisee until you pay the royalty fee.

Uptown Cheapskate: Obligations And Restrictions

When running your Uptown Cheapskate store, although you are 100% the owner of your business, you need to stick to the main company’s obligations. They may require a precise type of furniture, packaging, and ethic. These things are all made clear before you sign your franchise contract, and you’ll become very familiar with them during the training.

Other than that, you have full freedom when it comes to management and marketing.

Profit

Franchise revenue depends on a wide range of factors, as does profit. How much money you can make from any franchise depends on a number of specific factors such as franchise location, labor costs, commercial lease rates and a number of other factors.

How to Apply

To get the franchise first you have to fill the form. Then the company officials will contact you for further details. After that you you can open this franchise.

Apply Here

Contact details

Website

Home

FAQ

Is Uptown Cheapskate A Franchise Or Chain?

Uptown Cheapskate is a franchise. It is constantly open to new franchise applications. If you want to get into business with the company, make sure you can fulfill the requirement and submit your request. You can become the owner of an Uptown Cheapskate resale store.

Who Is The Owner Of Uptown Cheapskate?

See Also: Samosa Singh Franchise

Chelsea and Scott Sloan Carroll, the founders of the company, are still its owners.

How Many Uptown Cheapskate Locations Are There?

There are currently 80 Uptown Cheapskate locations spread through 23 states of the United States.

Is Uptown Cheapskate A Good Investment?

Uptown Cheapskate is a good investment because the company is growing fast. It can answer many demands of the current market, and it is expected to grow even further in 2023.

See Also: Cyclebar Franchise

Is Uptown Cheapskate Worth It?

As we’ve seen, the Uptown Cheapskate franchise is a big investment. Not only do you need to pay an initial fee, but you also have a 5% royalty fee that lasts forever. But the Uptown Cheapskate franchise is still worth it because the return on investment is estimated to be even bigger than the expenses.

What is The Difference Between Franchisor vs. Franchisee

Click Here to know about it.

What Is The Difference Between Franchise Vs. Sole Proprietorship

Click Here to know about it.

Conclusion

Investing in a new Uptown Cheapskate resale store is a big investment but it is totally worth it. If you are a young adult, this business is aimed specifically at you. It’s the beginning of a new profitable and sustainable adventure.

Disclaimer: The information given in this article like investment may vary from place to place, so we are not sure about the investment part and other parts also.

If you need any help from our team then please fill the contact form our team will contact you soon. And if you like this post then please share this post.

Uptown Cheapskate Franchise In USA, Cost, Profit, Contact No Cost, Profit, Benefits, Contact Detail, Requirements, Kaise Le, Apply | SkillsAndTech