FIGARO | Philippine Franchise

To become a Figaro franchise owner, you need to complete a background review and submit necessary documents. This includes a letter of intent, a pre-qualification form, valid IDs, resumes of the applicant and managing personnel, and financial statements or bank certificates. According to The Figaro Coffee Group, Step 1 involves the applicant gathering these documents and sending them via a Google Drive link.

Here's a more detailed breakdown:

1. Background Review:

Letter of Intent: A formal expression of your interest in becoming a Figaro franchise owner. Franchise Pre-qualification Form: A blank form provided by The Figaro Coffee Group to gather information about your suitability. Valid IDs: Two valid IDs for the franchise applicant(s). Comprehensive Resumes: Detailed resumes of both the franchise applicant and the person who will manage the business, including reference persons. Financial Statements: If you are using a corporation or sole proprietorship, provide the past 3 years of audited financial statements (AFS) and General Information Sheet (GIS). If incorporating a new company, submit AFS and GIS of your main business. Bank Certificates: If you don't have (F) or (G) above, provide bank certificates indicating quarterly bank balances for the past 3 years.

2. Subsequent Steps:

Once the background review is complete, you'll likely proceed to further discussions with The Figaro Coffee Group about the specifics of your franchise plan.  According to the Philippine Franchise Association (PFA), the franchise fee varies depending on the type of store (cart, kiosk, or full store).  The franchise agreement typically has a term of 8 years.

3. Contact Information:

You can find more information and contact them via email at franchise@figarocoffee.com. You can also visit the Figaro Coffee Group website: figaro.ph.

The estimated investment for a Figaro Coffee franchise is between Php 19,000,000 to 20,000,000, which includes a franchise fee of Php 4,000,000 plus VAT. The franchise term is eight years, with renewal options every four years. Additional costs include monthly royalty fees (5% of gross sales), a national marketing support fund (2% of gross sales), and a local store marketing fund (1% of gross sales).

Here's a more detailed breakdown:

Initial Investment: Php 19,000,000 to 20,000,000. Franchise Fee: Php 4,000,000 plus VAT. Security Deposit: Php 1,000,000. Renewal Fee: 40% of the prevailing franchise fee. Monthly Royalty Fee: 5% of gross sales. Monthly National Marketing Support Fund: 2% of gross sales. Monthly Local Store Marketing Fund: 1% of gross sales. Space Requirements: 120 to 150 sqms, minimum. Franchise Term: Eight years, renewable every 4 years.