Start a Gofer Ice Cream Franchise in 2024

Franchise 500 Rank: N/R Not ranked last year

Initial investment: $229K - $411K

Units as of 2022: 7 40.0% over 3 years

Gofer Ice Cream was founded in Connecticut in 2002. The idea was the brainchild of Jay Ragusa, who first thought of the name and concept five years earlier while earning his MBA.

Following an eight-year career on Wall Street, working as an analyst in UBS’s institutional investment management division, Ragusa transitioned into entrepreneur mode, launching Gofer Ice Cream.

Gofer Ice Cream offers a wide range of products, including razzles, milkshakes, ice cream floats, ice cream cakes, Gofer bites, sundaes, and more. The ice cream offered features flavor twist and flavor fusion, both of which may be considered revolutionary flavor innovations. Additionally, the soft-serve is put in homemade waffle cones, and select toppings can be added. The shops offer hard ice cream, soft serve, fat-free treats like “Gofer Lite,” yogurt, and smoothies, as well as Italian ice and sorbets, blended ice coffee, and ice cream cakes.

Since beginning to franchise in 2006, Gofer Ice Cream has opened several locations in the United States.

Why You May Want To Start a Gofer Ice Cream Franchise

Opening a Gofer Ice Cream franchise may offer a more predictable outcome than investing in a completely new brand that could struggle to thrive in an already crowded and competitive industry.

As you decide if opening a Gofer Ice Cream franchise is the right move for you, make sure you take time to explore the opportunity. Research the Gofer Ice Cream franchise and your local area to see if a Gofer Ice Cream franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.

Gofer Ice Cream has partnered with third-party financial lenders that may help cover the costs of the equipment, inventory, and startup. They also offer in-house financing for the accounts receivable and payroll if you qualify.

What Might Make a Gofer Ice Cream Franchise a Good Choice?

To be part of the Gofer Ice Cream franchise team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees. Franchisees will also need to meet the company’s set net worth and liquid capital requirements.

How To Open a Gofer Ice Cream Franchise

If awarded a Gofer Ice Cream franchise, franchisees receive great support from the Gofer Ice Cream brand throughout the franchising process. In addition to pre-opening training, Gofer Ice Cream franchisees receive support through brand awareness, marketing, research, and construction. Gofer Ice Cream franchisees also receive hands-on training and continued support after their franchise location has opened.

Before making any financial commitment or signing an agreement with Gofer Ice Cream, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing Gofer Ice Cream franchisees and ask the Gofer Ice Cream franchising team questions.

Company Overview

About Gofer Ice Cream

Industry	Food
Related Categories	Ice Cream
Founded	2002
Parent Company	Gofer Franchise Systems LLC
Leadership	Jay Ragusa, CEO
Corporate Address	869 High Ridge Rd. Stamford, CT 06905
Social	Facebook, LinkedIn, Instagram

Business Overview

Franchising Since	2006 (18 years)
# of employees at HQ	4
Where seeking	This company is offering new franchises throughout the US.
# of Units	7 (as of 2022)

Information for Franchisees

Here's what you need to know if you're interested in opening a Gofer Ice Cream franchise.

Financial Requirements & Ongoing Fees

Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee Definition: The initial fee paid to a franchisor to join their system What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.	$25,000
Initial Investment Definition: The total amount necessary to begin operation of the franchise What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.	$229,000 - $411,300
Net Worth Requirement Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.	$250,000
Cash Requirement Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.	$50,000
Veteran Incentives Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.	20% off franchise fee
Royalty Fee Definition: A ongoing fee paid to the franchisor on a regular basis. What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.	5%
Ad Royalty Fee Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts. What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.	2%
Term of Agreement Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.	10 years
Is franchise term renewable?	Yes

Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

In-House Financing	Gofer Ice Cream offers in-house financing to cover the following: accounts receivable, payroll
Third Party Financing	Gofer Ice Cream has relationships with third-party sources which offer financing to cover the following: startup costs, equipment, inventory

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training	56 hours
Classroom Training	21 hours
Ongoing Support	Grand Opening Online Support Security & Safety Procedures Lease Negotiation Field Operations Site Selection Proprietary Software Franchisee Intranet Platform
Marketing Support	Ad Templates Social Media SEO Website Development Email Marketing Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed?	No
Can this franchise be run from home/mobile unit? Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.	No
Can this franchise be run part time? Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.	No
Are exclusive territories available? Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.	Yes