frequently asked questions
Q: What/How is your assistance in terms of location?
A: Scouting for feasible locations is care of the applicant. Our assistance is currently limited to assessing the proposed site for approval.
Q: Can I place a school cart anywhere?
A: Our School Cart package is only limited to school premises where market is limited to Students and Faculty members.
Q: What is your minimum required space?
A: Required space should at least measure 4 Square Meters or 2 Meters x 2 Meters to have enough working space!
Q: On average, how long is your ROI (Return Of Investment)?
A: ROI takes 18 to 24 months or 2 years on average.
Q: What is your cost of goods sold?
A: On average, our COGS is 52%, where remaining 48% is your Gross Margin. Net Income will vary on your Operational Expenses!
Q: What are your modes of payment?
A: It should be paid in full during contract signing by either cash or check. Will you opt to choose credit card, there will be an additional service charge of 3.50%. On-line Payment or Bank Transfer is also accepted but for one time payment only
Q: How long is the average turnaround time from application to approval?(Signing to opening)
A: On average, after completion of requirements, it will take 3-4weeks before we can get the result of assessment of your proposed site. Once approved, you can sign the Franchise Agreement, settle payment, and prepare for opening. 3-4 weeks for Carts while 9 weeks to 12 weeks for customized store giving way for design and construction phase.
Q: How much is the renewal fee?
A: Renewal fee is 50% of the prevailing Franchise Fee. For example, for a School Cart with P100,000 franchise fee, you will need to pay P50,000 to have it renewedfor the next whole terms.
Q: Should I be corporate employee to franchise?
A: Definitely not! You may apply as a sole proprietor, as partnership, or as a corporation.
Q: Does Potato Corner charge royalty?
A: We have no royalty fee but there will be a monthly service fee of P5,000 (VATEX) once the store opens.