Franchising With Soul

Geelong – Seeking Expressions of Interest

95 Malop St, Geelong VIC 3220
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Price
$300k - $400k plus GST

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Westfield Geelong is located in the heart Victoria’s second largest city. Servicing the Surf Coast and the Bellarine Peninsula, the centre is home to some of Australia’s favourite retailers including Myer, Big W, Target and Coles as well as a range of other retailers including approximately 55 specialty apparel, footwear and accessories stores.

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frequently asked questions

  1. How much does it cost to purchase a new Soul Origin franchise?

    To purchase a new Soul Origin franchise, the initial investment cost can generally range between $300,000 to $400,000 plus GST. The initial investment cost includes the store fit out, equipment, training and documentation fees.

    The initial investment cost does depend on a range of factors, including the store location and size, and the amount work involved in constructing the store. Please keep in mind that in addition to the initial investment cost, you will also need to budget for working capital, opening stock and your grand opening promotion.

    When purchasing either a new store or an existing store, you will also need to supply a bank guarantee to the landlord at the beginning of a lease term. The bank guarantee is typically calculated at an amount of two to three months’ rent.

  2. What if I am interested in purchasing an existing Soul Origin store that is for sale?

    If you are interested in purchasing an existing Soul Origin store, all discussions and negotiations regarding the sale price will need to be discussed directly with the existing owner of the store or their elected business broker.

    It is important to note, the training fee of $15,000 + GST and documentation fee $3,500 + GST will need to be paid to Soul Origin in addition to the agreed upon purchase price. You will also need to budget for working capital, the landlord’s bank guarantee and your opening promotion on top of your agreed upon purchase price.

  3. Am I able to fund a portion of the business through obtaining a business loan?

    Yes, of course, although it does depend on your personal circumstances. Soul Origin has developed strong relationships with several major banks across Australia to help prospective franchise partners obtain financing.

    We are accredited with a number of banks and financial institutions and we regularly work with financial brokers who are familiar with Soul Origin’s company history and processes; if you would like us to help facilitate introductions, please let us know once you have submitted your application.

  4. How much working capital do I need?

    As a rough guide, we would suggest approx. 10% of the initial investment cost, however we would require you to obtain independent financial and/or business advice on this.

  5. How long does the whole process take?

    Each applicant’s journey through the franchise recruitment process does depend on the individual’s circumstances and the opportunity you are applying for. On average, our applicants reach the final assessment steps of our recruitment process within 6-10 weeks.

    All of our applicants are required to complete their own due diligence on the Soul Origin brand and location you are applying for and demonstrate this knowledge and research throughout the recruitment process.

  6. Do I need prior experience in the retail food business? Do I need to hire qualified cooks or chefs to prepare the Soul Origin menu?

    You do not need to have any previous retail food business or coffee experience; Soul Origin provides a 5-week training program to all new franchise partners.

    A real benefit of being a Soul Origin franchise partner is you don’t need qualified cooks or chefs to prepare the food. The food is all prepared fresh daily, by our franchise partners and in-store team members who have been trained in the back of house kitchen preparation, procedures, food safety and hygiene practices.

    Soul Origin does have an expectation that all applicants and incoming franchise partners must have a willingness to learn, a can-do attitude, a positive outlook and a love & belief in the Soul Origin brand, values and products – we can teach you the rest!

  7. Will I be able to sell my store in the future?

    Yes, your store is yours to sell. Your franchise agreement outlines the requirements for a sale, and the prospective buyer will need to go through our standard recruitment and selection process.

  8. As a Soul Origin franchise partner, am I required to work in my store full time?

    Soul Origin franchise partners are required to initially work full time in their store for a minimum 6-12 months from the store opening or handover. This is a mandatory requirement for all Soul Origin franchise partners.

    We believe through our experience that our more successful stores are where the franchise partner is actively working in store and involved in their store as much as possible.

  9. Can I own more than one store?

    Yes, we encourage all franchise partners who wish to multi-site, to express their interest and start the Soul Origin multi-site application process. We have many successful multi-site operators in our network and continue to work closely with franchise partners who wish to expand.

  10. What type of on-going support will I receive from Soul Origin?

    Soul Origin has many specialists working across all departments, located at our support office in Sydney to assist all franchise partners. Our support office has dedicated departments in Franchising, Leasing, Product & Supply Chain, Marketing and Finance amongst others. All franchise partners have a dedicated Area Coach that will oversee a number of stores within your area. We also have an experienced Coffee department that support our partner network in their on-going quality of brewing the perfect cup of coffee.

  11. Will I be able to sell my store in the future?

    Yes, your store is yours to sell. Your franchise agreement outlines the requirements for a sale, and the prospective purchaser will need to go through the Soul Origin franchise recruitment and selection process.

  12. Do I need to be an Australian Citizen or hold Australian Permanent Residency to be a franchise partner at Soul Origin?

    Yes. All Soul Origin franchise partners and business guarantors must be an Australian Citizen or hold Australian Permanent Residency to purchase a Soul Origin store.

  13. How do I apply? How can I find out more information?

    Please complete and submit an online enquiry on the franchising section of the Soul Origin website and a member of the Franchising Team will be in contact shortly to discuss your enquiry further.

    You will then be provided with a Soul Origin information booklet and an application form to complete. We look forward to hearing from you soon and discussing the start of your journey to become Soul Origin franchise partner!