Franchise Summary
Description
THE SPICE & TEA EXCHANGE stores are retail stores that sell spices, herbs, teas, spice blends, rubs, olive oil, and related products and accessories we may designate or approve (each, a "Store"). The franchises offered are for the development and operation of a Unit Franchise or an Area Development Business. Unit Franchises operate individual Stores. Area Development franchises develop and operate multiple Stores.
Company Background
The Spice & Tea Exchange is a retail store that sells spices, herbs, teas, spice blends and related products. With over 5 million customers served since opening in 1972, the company has decided to expand their mission by offering franchise opportunities for those who want what we offer: freshness and flavor.
Franchise Opportunity
The spice and tea industry is projected to reach $39 billion by 2020. With the growth of this industry, there's an opportunity for you to open a store in your area. We're looking for franchisees with experience in retail, food service or hospitality who want to join our team. Our stores are designed with customers' needs in mind and include an interactive shopping environment that educates consumers about spices, herbs and teas from around the world!
Corporate Structure
The Spice & Tea Exchange Franchising, LLC is a Florida Limited Liability Company formed on August 14, 2008, and their principal business address is 2708 Alt 19 N, Suite 601, Palm Harbor, Florida 34683. They began offering franchises for THE SPICE & TEA EXCHANGE® Stores on August 25, 2008.
Earnings Transparency
This Franchise discloses slightly more information about the financial performance of their franchisees compared to other franchises in the same industry
Why do some franchises disclose more than others?
There are many reasons why a brand may choose to not include item 19 on their FDD: they could be a newer franchise, they may be in a unique industry that is not super profitable or well-known yet
Financial Performance of "Standard" Units
Average Revenue Per Unit
Compared vs. Food Retail (Grocery, Specialty Foods) Industry$485,562 / unit
Franchise Type: Standard
Average Revenue During 2021
Franchise Types Available
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Employee Contact Database
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Distribution of The Spice & Tea Exchange Franchisees
The Spice & Tea Exchange Franchise System Development in 2022
FAQ
How much investment do I need to start my own The Spice & Tea Exchange business?
Franchisees typically require at least $194 to $395 investment to get their The Spice & Tea Exchange business started
What are the initial franchise fees for The Spice & Tea Exchange?
Franchisees typically need to pay at least $133 in fees directly to The Spice & Tea Exchange in order to earn the right to launch their business
How much money can I make with a The Spice & Tea Exchange franchise? What are
the average revenues for a typical The Spice & Tea Exchange business?
We estimate that the average revenue of an individual
The Spice & Tea Exchange unit is approximately
$485,562. We based this on Item 19 in franchise disclosure
document
How long do I need to commit to running a The Spice & Tea Exchange unit? What
is my contractual commitment?
The Spice & Tea Exchange franchisees are typically required to sign up to a
10 year contract initially. The renewal length
is 5 years. You can of course exit early but
don’t expect to get any refund!
Accessibility
The Franchisor's investment costs ranges from
$194,650 to $395,250
which is
Much Lower
than the $0 to $0 average in the Food Retail (Grocery, Specialty Foods) industry
What determines the investment cost?
Item 7 of the Franchise Disclosure Document lays out the full list of initial investment costs, including the fee payable to the franchisor, security deposits, equipment, professional fees etc
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