How to Franchise: Famous Belgian Waffles
Starting out as a simple kiosk in 2012, Famous Belgian Waffles has rapidly grown into one of the most prolific franchises in the country. Well-loved by many Pinoys due to its simplicity and affordability, it’s now hard to find a mall without the sweet aroma of their hot waffles drifting through the air.
Are you interested to be a Famous Belgian Waffles franchise owner? Keep reading to learn more about Famous Belgian Waffles’ franchising details.
About Famous Belgian Waffles
This unique waffle-on-the-go concept was the brainchild of entrepreneur Euclid Cezar, CEO of Innovention Food Resources. Upon realizing the lack of new snack products in the market, Euclid sought to introduce a fresh concept and came up with Famous Belgian Waffles (FBW) in 2012.
The first kiosk opened in SM North EDSA in September 2012. It was an instant success, with plenty of mallgoers swarming the kiosk throughout its opening weeks. It quickly expanded to 100 locations in its first year due to the large number of interested franchisees.
Unlike your run-of-the-mill waffle, FBW comes in a sandwich form with many fillings to choose from. Aside from the bestselling chocolate waffle which sells for an affordable P35.00, there are plenty of other items on the menu such as Blueberry custard, Strawberry custard, Chocolate hazelnut, Banana peanut butter, and Tuna garlic ranch, among others.
Franchise Fee and Inclusions
Since its launch in September 2012, the brand has always been open to franchising. A detailed franchise kit is available on their website for interested parties. Currently, Famous Belgian Waffles offers three franchising options with varying franchise fees.
Franchise Option 1: Standard Food Cart
- Estimated franchise cost: P616,000
- Floor area requirement: 3-6 sqm
Franchise Option 2: Kiosk
- Estimated franchise cost: P728,000
- Floor area requirement: 6-8 sqm
Franchise Option 3: Counter
- Estimated franchise cost: P817,600
- Floor area requirement: at least 8 sqm
The estimated franchise costs shown above are inclusive of 12% VAT. For all three options, the franchise term is three years (subject to renewal), with a royalty fee of 10% of net purchases. A marketing fee of 3% of net sales is also charged whenever applicable.
Other initial expenditures include business registration costs to government agencies, allowances for personnel and training officers, site renovation costs (if applicable), delivery fees (for locations outside Metro Manila) and three months’ worth of working capital. These other costs have an estimated total of P120,000.
The franchise package includes the following:
- Use of trademark
- Business operating system
- Site evaluation and securing of lease
- Store set-up
- Pre-operating training and orientation
- Opening assistance
- Ongoing support
According to Innovention Food Resources, the owner and operator of Famous Belgian Waffles franchise, franchisees can earn a net profit before tax of around P105,780 per month. This translates to a payback period of 7-9 months depending on the franchise option.
Franchise Contact Details
Head office: Magnitude Realty State Corp, 186 E Rodriguez Jr Avenue, Quezon City, Philippines
Phone numbers: (02) 425-2591; 0917-559-4318
Are you looking for other food cart franchising opportunities? Check out PinoyMoneyTalk’s List of Philippine companies available for Franchising
Information and Image Sources: Famous Belgian Waffles official website (famousbelgianwaffle.com), josiahgo.com, Inquirer.net
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