James Franks, Red Mango’s vice president of franchise sales, said, “Red’s Real Deal is the first program of its kind and becomes effective immediately across 25 states. Under the program, Red Mango will purchase a new franchisee’s store for up to $275,000 and take over the franchised location if the franchisee is not satisfied with their investment.”
In a strong statement of confidence, Red’s Real Deal program commits the company to purchasing the franchisee’s Red Mango store for up to $275,000 if the franchisee is not satisfied with the store for any reason within the first six months of opening. The program also lowers the initial $35,000 franchise fee by $10,000 for franchisees who sign new franchise agreements in 2009 and contributes an additional $10,000 to the franchised location for local store marketing.
“The Red’s Real Deal program fully reflects our positive outlook for our franchise and the business model we’ve established,” says Franks. “It’s the most transparent and bold statement we could think of to express our intent to grow our network and our commitment to develop a system of satisfied franchisees. Other conditions and restrictions do apply, so interested parties should read the Red Mango Franchise Disclosure Document (FDD) for full details." The application to receive the FDD can be found at www.redmangofranchising.com.
“Red Mango has enjoyed enormous growth in recent months, and the interest to join our brand has exploded,” says Dan Kim, founder, president and CEO of Red Mango. “Just last week, we announced record franchise agreements which will add 128 more stores to our system from both new and existing franchisees. We look forward to continuing our growth with new franchisees, and we want to ensure that they are as passionate and satisfied with Red Mango as our existing franchisees. The Red’s Real Deal program provides new Red Mango franchisees a measure of safety which I hope will encourage qualified entrepreneurs to build their first store and personally experience the excitement of owning and operating a Red Mango store.”
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