Potato Corner Franchise – Cost, Profit, Requirements, Review

POTATO CORNER

In this article, we will talk about a successful food franchise from the Philippines called “Potato Corner”. It is globally renowned for its delicious and savoury French fries.

JOURNEY OF POTATO CORNER

Potato Corner was started in 1992 by Jose Magsaysay Jr., Ricky Montelibano, Danny Bermejo, and George Wieneke. It is a Filipino food franchise that is famous worldwide for its delicious French fries. The first stall was opened on October 16, 1992, at SM Megamall in the Philippines under Cinco Corporation.

After their initial success, they considered expanding through franchising. Early franchise agreements were informal, with the initial franchisee signing a document obtained from the Internet. They secured funding for expansion and grew rapidly in the local market.

Potato Corner’s delicious French fries, which are loaded with flavours like BBQ, chilli BBQ, sour cream and onions, and cheddar cheese, have gained immense popularity. Nowadays, they serve not only potato dishes but also several varieties of chicken. The main advantage of owning a Potato Corner franchise is the combination of delicious food and a proven business approach. Franchisees get constant support from the franchise team as well as training on how to start and manage the venture.

Potato Corner is present in over 20 countries worldwide, including the Philippines, Indonesia, the United States, Panama, Australia, Thailand, Hong Kong, Cambodia, Singapore, Vietnam, Malaysia, Kuwait, Myanmar, Saudi Arabia, Canada, the United Kingdom, New Zealand, the United Arab Emirates, and China.

COST POTATO CORNER FRANCHISE

• Potato Corner offers franchises with fees of up to $35,000.
• It requires a total investment of between $186,500 and $596,000.
• To qualify, you need a net worth of $30,000 to $60,000 and liquid assets of at least $50,000.
• The initial investment includes a franchise fee of $35,000, an ongoing royalty fee of 6%, and an additional advertising royalty of 1% to 2%.

FRANCHISE PROFIT OF POTATO CORNER

The charm of Potato Corner lies in its simplicity, it focuses on selling one thing incredibly well that is delicious crispy fries.

A Potato Corner franchise has the potential to make a lot of money depending on where it is located, its sales, how well it is managed, and the quality of service. Although the initial investment may seem small compared to larger franchises, it is important to understand that Potato Corner focuses on a specific area. Investors and entrepreneurs looking for a reliable business plan will be attracted to Potato Corner’s simple approach. With a solid strategy, obtaining a franchise can yield significant profits.

POTATO CORNER’S ESTIMATED FRANCHISE COSTS FOR VARIOUS COUNTRIES:

• In the United States, starting a Potato Corner French Fry Store requires an investment of approximately $186,500 to $596,000.
• In Canada, the investment ranges from CAD 236,540 to CAD 755,920.
• In Australia, it’s around AUD 262,520 to AUD 838,920.
• In India, the investment varies from Rs 140.70 to Rs 449.64 lakhs.
• In Panama, it’s between 186,520 and 596,060 Panamanian balboas.
• In Brazil, it’s approximately 1.06 to 3.38 million reals.
• In the UK, it ranges from 140,810 to 449,995 British pounds.
• In the Philippines, it’s between 9.41 to 30.07 million PHP.

GUIDE TO LAUNCHING YOUR OWN POTATO CORNER FRANCHISE!

Step 1: Requirements

• Fill out a letter of intent.
• Provide 2 valid IDs (e.g., SSS, voter’s, postal, passport, PhilHealth, Pag-Ibig, UMID).
• Complete an application form
• Conduct a market study and site analysis (include actual photos and area measurements).
• Obtain a draft lease offer/contract from the lessor if you are leasing
• Step 2: Preliminary interview

Step 3: Site inspection and approval (2-3 weeks)

Step 4: Grant meeting (award of site)

Step 5: Contract signing and payment

Step 6: Store construction or store opening preparations

Step 7: Store opening!

CONCLUSION

If you are considering owning a Potato Corner franchise, it can be a lucrative investment. The most distinctive feature of Potato Corner is undoubtedly its delicious and flavorful French fries. Apart from this, it also has a solid business model and loyal customer following, which contributes to its success as a franchise business.

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