Franchise Partnerships: What you need to know
Here at TRIB3, franchising is a true partnership. We know that signing a franchise agreement and starting a new business venture is a big commitment, so that’s why our team is available to help you every step of the way. Our goal? To establish a true partnership that suits your needs and gets you to your goal of owning your own TRIB3.
With the recent rise in entrepreneurialism due to the current economic climate and evolving workplace set ups, many people are looking to start their own business and be really hands on with its day to day operations. We are also encountering people who want to invest in a new business but want to outsource the management of it - perhaps diversifying from the industry in which they currently operate or as a side venture in a field they are passionate about. Luckily at TRIB3, we offer two partnership options once the franchise agreement is finalised and the exciting journey to opening a store has begun.
When starting your own TRIB3, you have the opportunity to be 100% involved in every part of the business. For example, our franchise partners in Madrid are the Store Managers as well as the owners. They teach classes to deliver the timetable and immerse themselves in the workout experience, whilst also managing the behind the scenes running of the store, including monitoring cash flow and tracking the P&L.
You can also choose our management partnership option, where TRIB3 takes responsibility for managing your store, in collaboration with you but without requiring you to be physically involved in day to day operations. For example, the targets and P&L will still be under your remit but we will manage the store, controlling costs and ensuring operational processes run smoothly as well as directly supporting the hiring of a world-class store team to drive performance and deliver a great customer experience. This kind of arrangement can sound very autonomous but, as franchising with us is about partnership, joint decision making is maintained throughout and you’ll have access to robust management information. Management partnerships just mean you can focus on the bigger picture and we will handle the rest, looking after your store just as we would one of our own.
Whichever option you chose, with our franchise agreement, you receive full access to the operational standards and procedures that underpin the TRIB3 business model. You will be following a tried and tested formula which significantly lowers the risks when starting your own business. Your franchise fee encompasses full property support, location finding and negotiation, design fit out, operational training, and systems set up. Plus, you’ll get a full pre-sell guide, brand and marketing toolkits and many other support tools to get you off to the strongest possible start. We also help with the recruitment of your customer experience team to ensure you’ve got the best people in your store to build an amazing community.
If you choose to run your own TRIB3 store, you’ll pay a 6% franchise fee from the time you start trading. With this fee, we provide you with constant support, ongoing analysis of your store's performance, and brand updates since we’re constantly innovating and refreshing our product offering and next-level experience for our TRIB3Rs. If you prefer that our TRIB3 team take full management responsibility, it’s an ongoing fee of 11%.
We welcome both styles of partnerships. Joining the TRIB3 family is based on finding the best fit that works for the franchisee. Our business model is designed to deliver next-level results for you and the amazing community you’ll build. Whichever option you choose, your store will be set up to our meticulous brand standard and designed to perform.
Book a call to discuss which franchise partnership option is right for you – either way, your dream TRIB3 store is waiting for you.