How does VENETI currently offer franchising internationally?
VENETI offers international franchising opportunities through the Master Franchise model.
This method of franchising identifies a specific country or geography within a country and defines an agreed upon number of stores that must be built within the predetermined geography within a specific timeframe. The franchisee in this method of franchising will have exclusive development rights to the predetermined geography for a defined period of time, usually 10 years. The franchisee is given a development schedule that defines when each store must be opened.
Do franchisees have to pay royalty fees in the VENETI franchise?
Yes, they are equal to a % of the total net sales paid on a monthly basis.
How does the advertising work? Is there a standard % of sale that must be used as advertising fund or is it up to the franchisee to decide?
All franchisees will be required to spend a minimum % of their net sales locally for advertising and marketing.
What is the franchising fee a franchisee will have to pay for the development and exclusive rights of VENETI in a specific country?
Franchisees who enter into a Master Franchise Agreement and who have “purchased” the Exclusive VENETI Rights for a specific country, will have to pay a Franchise Fee that will depend on the country in question. 50% of this amount will be due upon the signing of the Master Franchise Agreement.
Can a Franchisee in one country or specific area of development be granted the right to sub-franchise?
It is extremely important for VENETI to secure its brand image and to minimize any potential to lose brand integrity. Consequently, VEVETI avoids granting the option to sub-franchise to any of its franchisees.