Frequently Asked Questions
Below you will find some of the most frequently asked questions.
How long can I operate my franchise for?
We typically look at entering into a franchise agreement for ten years. At the end of the ten-year term, subject to your lease and providing you have met specific requirements you will automatically be entitled to a further ten-year term.
What are the costs of the franchise?
These have been outlined previously but to recap they are:
- An initial deposit of £5,000, which will be deducted from your initial franchise fee. This will reserve your territory for six months.
- An initial franchise fee of £25,000.
- A Management Service Fee of 6% of turnover.
- A Business Development Levy of 1% of turnover.
- POS maintenance support.
- For each additional restaurant that you open, there is a restaurant opening fee of £7,500.
Can I sell my franchise?
Yes. One of the major benefits of being a franchisee is that you are building an asset with a re-sale value. Should you wish to sell your Harper’s franchise, we will be able to advise and assist with this process. A condition of your agreement is that should we choose to sell then we have the first right to purchase (obviously at an acceptable price to both parties). We also have the right to approve any purchaser in the same way that we would approve any incoming franchisee.
Should I seek independent advice before entering into a Harper’s franchise?
It is essential for franchisees to obtain competent legal advice from an experienced franchise solicitor before entering into a franchise agreement. A list of experienced franchise solicitors can be found on the British Franchise Association’s website at www.thebfa.org.
Are Harper’s members of the British Franchise Association?
Yes we are Provisional Members which is the category for all new franchisors.
How do I obtain financing?
The franchise divisions of HSBC, RBS and Lloyds have all had our opportunity explained to them, are ready to accept funding requests and will look to fund 50-70% of the total investment. Harper’s will be able to recommend contacts that will be able to assist in the production of the business plan and we will facilitate an introduction to the franchise department of your bank of choice.
Where do I purchase my products?
We will provide you with an approved supplier list, and favourable prices are negotiated on group buying power.
How long does it take from applying to opening my restaurant?
This depends on whether we have a suitable property available in the chosen area, but typically the timescale is between two and three months, on possession of the site keys.
I am interested in developing a market outside of the UK – what should I do?
Harper’s is keen to expand and is always open to conversations from interested parties who are looking to take the Harper’s brand international. This would depend on various factors including previous business experience in this field. Interested parties are invited.
Do you give any parent company guarantees?
No. You will operate as an independent limited company. We are looking for franchise partners who have a proven track record or existing established businesses. Most major UK landlords will accept their financial covenant.