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Below is an in-depth analysis and side-by-side comparison of The Spice and Tea Exchange vs CoffeeIcon including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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Investment | $183,650 - $369,250 | $150,700 - $244,400 |
Franchise Fee | $37,500 | $30,000 |
Royalty Fee | 7% | - |
Advertising Fee | 1% | - |
Year Founded | 2007 | 2012 |
Year Franchised | 2008 | 2017 |
Term Of Agreement | - | - |
Term Of Agreement | - | - |
Renewal Fee | - | - |
Business Experience Requirements |
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Experience | The Spice & Tea Exchange awards franchises to individuals willing to work within our proven system and commit to the highest standards in customer service, community relations, and business. Each area of interest and candidate is evaluated carefully and we invite anyone who shares our love of well-known and exotic spices, specialty loose leaf teas, and hand made blends to contact us for an opportunity to learn more... | - |
Financing Options |
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In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | Yes/Yes | -/- |
Start-up Costs | -/Yes | -/- |
Equipment | -/Yes | -/- |
Inventory | -/Yes | -/- |
Receivables | -/- | -/- |
Payroll | -/Yes | -/- |
Training & Support |
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Training | Our training team works right beside you, for 2 weeks, within your own store; to effectively show you how to implement our proven techniques and procedures. From product knowledge to retail displays and marketing, you will have an experienced professional with you from the initial delivery of your products through the Grand Opening of your store. On-The-Job Training: 4-106 hours Classroom Training: 28-49 hours | - |
Support | Newsletter Meetings/Conventions Grand Opening Online Support Field Operations Site Selection Proprietary Software Franchisee Intranet Platform | - |
Marketing | Ad Templates Social media SEO Email marketing Loyalty program/app | - |
Operations | Absentee Ownership Allowed Number of Employees Required to Run: 3 - 5 | - |
Expansion Plans |
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US Expansion | Yes | Yes |
Canada Expansion | - | - |
International Expansion | - | - |
Come in and smell the spices! This invitation is our tagline, and is merely the beginning of the indulgence of all your senses, as you walk into one of The Spice & Tea Exchange stores. Our business model and retail concept combines the love of food and fine seasonings with the charm of an old-world setting. The Spice & Tea Exchange management team has over 80 years of combined experience in creative and retail applications, and is setting the standard for this unique and specialized industry.