Starbucks is a well-known, long-running network of coffee shops. Given that Starbucks has more than 30,000 stores worldwide, it is understandable why so many businesspeople have thought about buying a franchise. However, the question of how much a Starbucks franchise owner can earn still stands.
The solution is not that easy. There is no way to purchase a Starbucks franchise because the company does not provide franchise possibilities. Instead, Starbucks runs as a franchise owned by the firm. As a result, becoming a licensed partner is necessary if you want to own a Starbucks location.
As a licensed partner, you’ll be in charge of running your store on a daily basis, which includes staff hiring and training, inventory control, and assuring client pleasure. You will be compensated with a portion of the sales from your store.
In 2019, Statista reported that the average revenue per Starbucks location in the US was $1.82 million. However, this figure can differ significantly based on the location and other elements. For instance, a Starbucks location in a busy city may generate more revenue than one in a small town.
The maximum income a licensed partner may earn varies as well. The average annual income for a Starbucks store manager, according to Glassdoor, is close to $50,000. However, depending on the manager’s location and level of expertise, this figure can range from $35,000 to $70,000.
So, even while owning a Starbucks outlet won’t make you rich, it can still be a successful business. Additionally, as a licensed partner, you’ll have the resources and support of a reputable business behind you.
Starting a home-based business is one alternative. Numerous business ventures can be started without a physical location or a substantial financial commitment. You might begin a freelance writing or graphic design firm, provide online bookkeeping services, or market handcrafted goods.
There are also choices for franchising that cost $30,000 or less if that’s something you’re interested in. You may put money into a home-based franchise like Tutor Doctor or Cruise Planners, for instance. These two franchises both provide flexible work arrangements and affordable startup fees.
In conclusion, running a Starbucks business can be successful even if it doesn’t make you rich. You will have the backing and resources of a reputable firm as a licensed partner. There are still other business options that you can start for $20,000 or less if you don’t have the money to invest in a Starbucks location. The key is to do your homework and select a business model that fits your abilities and interests, whether you decide to launch a home-based business or purchase a low-cost franchise.