At Globe Live Media we explain how much money it costs to obtain a license to open a Starbucks store and what you must do to obtain one in the US.
Starbucks is one of the largest coffee shop chains in the United States and the world, and while it doesn’t technically offer consumers the opportunity to open franchises, it is possible to obtain a license that will allow you to basically open your own Starbucks. Of course, it must be noted that said license will imply a large outlay of money on your part.
According to a GoBankingRates report, the average cost to obtain a license for a Starbucks store is approximately $315,000. Approximately $700,000 in liquid assets would also be needed to be considered.
By 2021, out of 15,000 Starbucks stores around the world, 42% of them were Starbucks-licensed locations, demonstrating the popularity of this type of business.
Despite this, we must clarify that obtaining a Starbucks license is not entirely easy. This company only approves the issuance of licenses for those businesses that can be beneficial to expand the capitalization of Starbucks.
According to GoBankingRates, Starbucks prioritizes issuance of licenses in:
1) Active and popular business establishments.
4) Government or military installations.
5) Health institutions.
7) Recreational and tourism establishments.
Starbucks approves the issuance of store licenses at these institutions because of their potential for commercial success. In this way, the company guarantees that its name is associated with entrepreneurs who have a proven track record.
How can I get a Starbucks license?
The application process to obtain a Starbucks license is:
1) Visit the Starbucks portal and register as a potential licensee.
2) Complete the formal application.
3) Indicate your business location.
4) Provide information to the company about your current economic status, your assets and your financial responsibilities.
5) Add additional information about why your location would be appropriate for a Starbucks licensed store.
6) Submit your application and wait for a response.
Once you complete these steps, the Starbucks company will likely visit the location where you plan to have a licensed store and detail your financial and business process and the documents required for it.