Joining a Franchise That Is “THTK:” Totally Honest and Totally Kind Essay Example
Franchise Players features Q&A interviews with franchisees on Entrepreneur. Share your advice and tips by emailing us. Yogurtland embodies the THTK philosophy: totally honest and totally kind.
Sung Ok was originally drawn to Yogurtland five and a half years ago due to their philosophy and successful product in the fro-yo industry. As a franchisee with five Yogurtland locations in California and Texas, Sung Ok believes that sky's the limit for the company. In addition to opening three more locations in 2015, he hopes to potentially grow to 50 stores.
Name: Sung OkFranchise owned: Five Yogurtland locations in California and Texas, with three more set to open in 2015.How long have you owned a franchise? Five and a half years.Related:Why franchising? I wanted to be involved in a business where I can potentially grow to 50
...stores.
I was inspired by Yogurtland's innovative self-serve frozen yogurt concept, which motivated me to pursue owning a franchise. Previously, I managed and owned a Full Service Hand Car Wash and Detail Center in Fountain Valley, California. I decided to invest in this particular franchise due to my admiration for their corporate team's adherence to the "THTK" business philosophy - Totally Honest and Totally Kind. My estimated expenses for launching the franchise totaled $430,000, inclusive of a $35,000 franchise fee, general construction costs of $170,000, machines and equipment costs of $200,000 as well as an additional startup cost and miscellaneous expense budget of $25,000. In order to run my business effectively today, I draw heavily upon my previous experiences as a business owner.
Challenges, Advice, and Expansion Plans for Franchisees: Starting a franchise from scratch in an unfamiliar city can be
a daunting task with obstacles such as delays due to city agency processes. However, as an experienced Yogurtland franchise owner, I suggest future franchisees practice patience while working in teams and focusing on branding to protect your brand. As someone who has established strong relationships with corporate and neighboring franchisees, I plan to continue expanding my Yogurtland franchise while also offering guidance on securing permanent U.S. residence for foreign investors.
YL Investment Fund 1, LP. is providing a business opportunity for obtaining S. residency through a Yogurtland franchise EB-5 program. Moreover, several new Yogurtland outlets are set to open in Texas in 2015.
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