Over the years, I’ve been asked how to buy a Starbucks franchise dozens of times. But, for some strange reason my answer never seemed good enough for the people doing the asking.
That just changed.
My Old Answer To The Starbucks Franchise Question
The answer I used to give to people that asked me how they could buy a Starbucks franchise:
“You can’t buy a Starbucks franchise. That’s because they don’t sell franchises. They’re company-owned stores.”
My answer really bummed people out.
Now I have a different answer.
“Starbucks just started selling franchises. All you have to do (besides having enough money in the bank to afford one) is move to Europe. And set-up residence in England or France.”
Aren’t you pumped?
Starbucks Is Finally Selling Franchises
That’s right; the executive team at Starbucks has decided (finally) to take the leap and capitalize on their brand via the franchise business model.
In February, Starbucks opened its first franchise-owned store in the world.
The place: Liphook, a large village in the East Hampshire district of Hampshire, England. And now-all of a sudden, there are 45 franchise-owned stores in the U.K. And, they’re owned by only 9 franchisees.
The next stop: France.
Franchise Information Update From Starbucks Headquarters:
Thank you for your interest in the Starbucks Coffee Company franchising programme.
We have a number of excellent Franchise Partners onboard and are therefore not currently recruiting any further franchisees. We will update this page should the situation change , so we recommend you check the website on a quarterly basis.
Thank you from the Starbucks Team
Hat-tip to my friend, Dane Carlson on that news
How To Buy a Starbucks Franchise
It’s no big deal to buy a Starbucks coffee franchise. Especially if you live someplace else besides Europe.
Here are some of the things you’ll need to do if the Starbucks franchise development team approves your formal franchise application:
- Sell your house
- Sell your vehicle
- Pack up all of your belongings
- Quit your job
- Leave your extended family behind
- Cash out
- Purchase a new house
- Purchase a new car
- Become an official European citizen
There are probably a few other things you’ll have to do, but let’s leave that list just like it is for now.
Of course, you’d only have to tackle that list of things to do if you were actually awarded a franchise.
Starbucks Franchise Information
I grabbed some information for you about opening up a Starbucks franchise from their corporate website.
Investment- You will need to demonstrate £500k of liquid assets (Almost $700k US)
Experience- Food and beverage experience and currently own or run a multi-site business
Role- Hands-on at first
If you’re approved for franchise ownership, you’ll (with the help of their development team) secure an optimum location.
Once your location is approved, you’ll start the Starbucks immersion program which will allow you to learn the ins and outs of running your own Starbucks operation.
One more little thing:
They want you to open 20 stores within the next 5 years.
That’s right; they only want multi-unit franchisees.
The Starbucks Franchise Opportunity
In a nutshell, Starbucks has started franchising-but they’re very particular about who they want as franchisees and where they want their stores located.
- You’ll need to have a significant net worth to become the owner of a Starbucks franchise.
- You’ll need to live in Europe
- You’ll need to have food and beverage experience
And, it looks like you’ll need to be the current owner of a multi-unit food or beverage operation.
Those are very specific requirements.
If you meet them, owning a Starbucks franchise…owning 20 Starbucks locations could be an amazing opportunity.
That’s because Starbucks is an amazing brand.
And, when they start selling franchises gain, they’ll be even better.