Start a Iceworks Franchise in 2024

Franchise 500 Rank: N/R Not ranked last year

Initial investment: $40K - $44K

Units as of 2020: 1 0.0% over 3 years

Founded in 2014, Iceworks is an ice machine leasing service headquartered in Albuquerque, New Mexico. Iceworks’ main focus is delivering ice machines to businesses that need them, including schools, municipal buildings, hotels, sports venues, and other associated venues.

The roots of Iceworks date back to 2014 when two men delivered an ice machine to replace a broken one. This was the germination of an ice machine leasing service that has continued to this very day.

Iceworks provides service to their client list by ensuring that their customers have the most up-to-date ice machines with proper servicing and maintenance.

Why You May Want To Start an Iceworks Franchise

Having access to ice is typically a need in the United States. The customer demand is already pre-loaded due to this need for ice, especially in summer and hot climates. Even in colder climates, customers need ice to keep products cold. This is especially true for hotels and other businesses that always employ an ice machine.

Franchisees may institute contracts with local businesses to deliver and service ice machine units for a set period of time. This business method may result in success for the franchisee and provide a way for them to foster good relationships with their local customers.

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

Why Might Make an Iceworks Franchise a Good Choice?

Iceworks strives to deliver high-quality ice machines with minimal downtime. An ideal franchisee can communicate well with potential customers. They should also be quick to solve problems and deliver their products and services.

To be part of the Iceworks 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 an Iceworks Franchise

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

Before making any financial commitment or signing an agreement, 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 franchisees and ask the Iceworks franchising team questions.

If awarded a franchise, franchisees may receive support from the Iceworks franchise brand throughout the franchising process. In addition to pre-opening training, Iceworks franchisees receive support through grand opening support, site selection, and marketing. Potential Iceworks franchisees may also receive hands-on training and continued support after their franchise location has opened.

Company Overview

About Iceworks

Industry	Food
Related Categories	Miscellaneous Food/Beverage Businesses
Founded	2014
Leadership	Scott Hollingsworth & Jeffery Watson, CEOs
Corporate Address	11024 Montgomery Blvd. N.E., #240 Albuquerque, NM 87111

Business Overview

Franchising Since	2020 (4 years)
# of Units	1 (as of 2020)

Information for Franchisees

Here's what you need to know if you're interested in opening a Iceworks 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.	$24,900
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.	$39,800 - $44,100
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.	$24,900
Cash Requirement Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.	$24,900
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.	8%
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.	9%
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.

Third Party Financing	Iceworks has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

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	11 hours
Classroom Training	18 hours
Ongoing Support	Grand Opening Site Selection
Marketing Support	Social Media

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.	Yes
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