Many people nowadays want to take the path of being self-employed. But starting a business from scratch can be risky and exhausting. The viable solution is to franchise from a credible company such as Discovery Map. This is an excellent niche to work on as more people enjoy DIY travels. With printed maps strategically placed in key locations, you are sure to get profit from your advertisers. Let’s learn more about how you can start this business. Likewise, let’s find out the estimated Discovery Map Franchise Cost.
Franchise Description
Discovery Map International is a map publishing franchise with headquarters in Waitsfield, Vermont. It started in 1981 and produces interesting hard-drawn maps which are popular for travelers. They opened the business for franchising in 1999.
Discovery Map franchise is about an advertising program found in local tourist maps and guides. You can get your earnings from advertisers such as local attractions or theme parks, resorts, stores, hotels or inns, and restaurants, to name a few. To date, the business is also using the digital platform to create maps for travelers.
What’s great about Discovery Map is that you can find local establishments that are not highly visible online. You’d be able to find unpopular yet worthy attractions. Plus, you could experience the local culture. The maps are found in different establishments such as restaurants, shops, and even hotels.
Franchisee Training
The franchisees and their managers will have to undergo training in the Discovery Map system. The first leg of the training usually ends within four days. This is conducted at the company’s headquarters in Vermont.
The initial training does not have a cost, and you could bring another person apart from yourself. However, transportation, accommodation, and other expenses will be shouldered by the trainees.
The franchisor will now provide five days for map mock-up development. Extension or additional time to complete the initial map drawing is given, if necessary. If the franchisor sees the need for additional training, the franchisee could attend as well.
Territory
Franchisees can enjoy limited exclusive rights in a territory. This is also referred to as the ‘area of exclusive rights.’ Take note that there is no minimum territory required, and the franchisor will not allow another franchisee in that same area.
Franchisee Obligations
The franchisees must close deals according to the minimum agreed advertising spaces to paying advertisers in their area. While the franchisor encourages the franchisee to be involved in the business’ day-to-day operations, this is not mandatory.
If the franchisee decides to hire someone to manage the business, the franchisor must approve them as well. Likewise, those who are active in managing the operations, and those who own at least 20% of the business must attend the training as recommended by the franchisor.
Franchisees are only to offer products or services that have been pre-approved by the franchisor. In addition, they should offer the products and services required by the franchisor.
Term of Agreement
The initial term of the franchise is ten years. If the franchisee has a great track record, the franchise term could be renewed for two additional five-year terms.
Financial Assistance
The franchisor offers financial assistance to its franchisees if they are qualified based on their set of requirements.
Did You Know?
Apart from the estimated Discovery Map Franchise Cost, it’s also beneficial that you know some of the key information about the company. This will give you an idea if the business culture and direction suits you well.
Prints Nearly 20 Million Maps Per Year
With millions of maps published every year, you can conclude that the business is thriving and has a market. While they are also using digital maps today, the actual print outs seem to be a go-to option for most travelers. If your potential advertisers wonder if there is a ‘reach,’ this data could already be a selling point.
Where’s The Map Geek
Discovery Map also has a way to engage people. They have this ongoing competition where you need to find the Map Geek and get a chance to win a $100 gift card. You can send your entries directly to the Discovery Map’s website.
Covers Over 130 Destinations in the US and Canada
As of the moment, Discovery Map has published maps for more than 130 destinations, not just in the US but also in Canada. The best part is that they are aggressive in expanding their operations. And this means you have a lot of opportunities waiting for you.
Impeccable Support Team
One of the reasons why Discovery Map has been getting more franchisees year after year is due to their reliable support. This encourages even a non-entrepreneur to try out the business. If you are having doubts about putting up a franchise, working with the Discovery Map team is a breeze.
Impressive Website
As we’ve already mentioned, they also have digital copies of maps. Just go to their website, and you can easily choose the destination you’re about to go to. At least you can prepare your itinerary and will waste no time once you are there. And if you want to get amazing merchandise such as masks and neck gaiter, you can easily check out their New Merchandise page and join the community of travel enthusiasts by wearing the brand.
Discovery Map Franchise Cost
Your Investment
To see if you are financially capable of starting this franchise, please review the Discovery Map Franchise Cost below.
Name of Fee
Low
High
Initial Franchise Fee
$25,000
$25,000
Map Layout and Production Services
$1,800
$3,000
Map Drawing
$2,500
$4,000
Ad Production Services
$2,000
$3,000
Travel and Living Expenses while Training
$500
$1,500
Office Equipment and Fixtures
$1,500
$3,250
Computer System
$800
$1,200
Licenses/Deposits
$100
$250
Supplies & Misc. Expense
$500
$1,000
Insurance
$250
$500
Sales Expense
$500
$750
Additional Funds
$500
$2,500
ESTIMATED TOTAL
$35,950
$45,950
Other Costs
Type of Fee
Amount
Royalty
10% of total gross sales, except 25% of sales of web ads.
Advertising
1% of total gross sales.
Additional Initial and Optional Training
$500 per day, per person; the franchisor reserves the right to increase this fee.
Audits
Cost of audit plus interest on underpayment.
Late Fee
Late payment fee of 1.5% per month or the maximum interest rate permitted by state law if less, from date these amounts were originally due until paid. Fee of $100 per late or incomplete submission.
Transfer, Assignment Fee
20% of the then-current franchise fee.
Renewal Fee
20% of the then-current franchise fee.
Costs and Attorneys’ Fees
Will vary under the circumstances.
Indemnification
Will vary under the circumstances.
Map Layout and Production Services
$70-$95 per hour, subject to annual increase of up to 5%, compounded, $500-$700.
Discovery Map Publication System (DPS) Fee
$2,000 per year, subject to annual increase of up to 5%, compounded.
Web Ad Program
25% of franchisee’s web ad program sales revenue net of approved discounts and 3rd party costs.