5/10

Franchimp Summary Rating

3 /10
Higher than 73% of peers

Franchise Summary

Description
Our franchisees operate ExtraMile convenience stores at facilities where they also operate Chevron or Texaco motor fuel stations.
Company Background
ExtraMile is a franchise company that operates convenience stores at facilities where they also operate Chevron or Texaco motor fuel stations. ExtraMile's success relies on the dedication of our franchisees and their employees, who are committed to offering friendly service and fresh food for travelers.
Franchise Opportunity
For many Americans, it is not easy to find a healthy snack that fits into their busy lifestyle. We believe in the power of convenience. People often only have time for an unhealthy choice when they are on-the-go. This can lead to weight gain and other health problems down the road. ExtraMile was created as a solution to this problem by providing people with healthy options at convenient locations near where they live or work. At ExtraMile you will find fresh fruit, nuts, snacks and drinks designed for adults who want to maintain a balanced diet while also staying active throughout their day. Our stores are located inside Chevron gas stations and offer customers the option of purchasing quality fuel with healthier food options all under one roof!

Earnings Transparency

7 /10
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

$72,682 / unit

Franchise Type: Standard

Average Revenue During 2020

$72,682
$72,682
Industry Low
$2,523,340
Industry High

Management Team

# Name Position

Distribution of ExtraMile Franchisees

ExtraMile Franchise System Development in 2020

FAQ

How much investment do I need to start my own ExtraMile business?
Franchisees typically require at least $182 to $534 investment to get their ExtraMile business started
What are the initial franchise fees for ExtraMile?
Franchisees typically need to pay at least $3 in fees directly to ExtraMile in order to earn the right to launch their business
How much money can I make with a ExtraMile franchise? What are the average revenues for a typical ExtraMile business?
We estimate that the average revenue of an individual ExtraMile unit is approximately $72,682. We based this on Item 19 in franchise disclosure document
How long do I need to commit to running a ExtraMile unit? What is my contractual commitment?
The standard length for an initial franchise contract is 10 years. Renewals are also generally 10 years

Accessibility

3 /10
The Franchisor's investment costs ranges from $513,394 to $880,343 which is Much Higher 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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