As a way of expressing gratitude and recruiting exceptional franchisees, Famous Brands International, the parent company of TCBY Yogurt and Mrs. Fields Cookies, announced it will waive the franchise fee for the first 50 qualifying military veterans who join the brand starting this month. The company is committed to giving away $1.75 million in free franchise fees through the program.
According to the Small Business Association, about one quarter of the country's 23.5 million veterans are interested in starting or buying their own business. Eager to help meet that demand, Famous Brands is doing their part by helping veterans accomplish the dream of small business ownership, helping to make it more attainable and affordable post-military service. The program waives the franchise fee of $35,000 per unit.
“Military veterans are reliable, tenacious, and driven—all qualities that align perfectly with our company culture and result in long-term success,” says chief operating officer David Bloom. “We have seen great success with our current veteran franchise partners, so we are happy to waive 50 franchise fees so these recognized individuals receive an opportunity to own their own business.”
Additionally, TCBY and Mrs. Fields are both part of the International Franchise Association’s VetFran program, which offers ongoing incentives, training, and mentoring to military veterans interested in a franchising career path.
Together, TCBY and Mrs. Fields have more than 900 locations in 33 countries. Famous Brands is now focusing on developing the two legacy brands through dual-branded stores. In addition to an updated design, the new stores offer three different revenue streams for owners: TCBY, Mrs. Fields, and Mrs. Fields in-store gifting station via MrsFields.com. Total initial investment for a dual-branded store ranges from $150,000-$450,000 depending on unit size.