Discovery Map is a business that creates illustrated tourist maps showcasing local attractions and businesses. The franchise offers advertising opportunities to businesses looking to reach tourists and visitors through these maps.
Key Insights
- Discovery Map has a long-standing presence, evolving from its foundational concept to become a recognizable name in local advertising and community connection. Its growth reflects a sustained commitment to providing unique marketing solutions.
- The business operates by creating visually engaging, hand-drawn maps that highlight local businesses and attractions. These maps are distributed throughout communities, offering a tangible and memorable way for consumers to discover and engage with their surroundings.
- Operating within the local advertising and tourism sectors, the franchise taps into markets driven by consumer interest in local experiences and discoverability. This industry relies on connecting consumers with businesses in a readily accessible format.
Franchise Fee and Costs to Open
Exploring the financial picture of Discovery Map gives insight into both the upfront commitment and the potential revenue opportunity. According to FDD Item 7, opening this franchise typically involves an investment in the range of $29,050 - $36,300, along with a franchise fee of $25,000 - $25,000.
Financial Performance and Revenue
Yearly gross sales of $52,290 and estimated earnings of $7,321 - $9,413 show the potential financial performance of this franchise. These figures are crucial for prospective franchisees as they help to project revenue and profitability. They offer insight into the business's ability to generate income and can be used to compare its performance against other investment opportunities. The Franchise Payback Period of 4.4-6.4 provides an estimation of the time it might take for an owner to recover their initial investment. This metric is a key consideration for anyone evaluating the financial viability of a franchise, as it relates directly to the speed at which the business can become profitable. A shorter payback period can indicate a faster return on capital, which is a significant factor in making an informed decision about a franchise investment.
Training and Resources
Discovery Map provides comprehensive initial training for new franchisees. This program, typically lasting two weeks, is conducted at Discovery Map's headquarters. The franchisor offers a robust support system, including operational guidance and marketing resources. Discovery Map also recommends leveraging its established brand identity and proven business models for success.
Legal Considerations
Legal considerations for a Discovery Map franchisee are defined by the Franchise Disclosure Document (FDD) and the Franchise Agreement. This franchise does not disclose lawsuits or bankruptcy information in its FDD, but prospective franchisees should still review all terms thoroughly. Consultation with a qualified attorney is essential before making commitments.
Challenges and Risks
A franchisee might consider the unique landscape of local competition, discerning how a Discovery Map offering can differentiate itself. The operational complexity of managing a diverse set of local businesses and ensuring consistent quality across all listed partners requires careful attention. Furthermore, understanding and potentially mitigating reliance on specific local suppliers or service providers will be a key consideration for sustained success.
Franchise Datasheet
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