Do you still have a few questions before diving in and committing to the Ocean Basket application process? We've done our best to provide you with answers to most of the questions our new applicants have.
Are there opportunities to acquire existing restaurants?
Yes, there are opportunities to acquire existing restaurants. If a franchisee’s store is identified for sale it will be reflected on our What’s Available page. However, if the buyer is new to Ocean Basket, they must successfully complete the Ocean Basket Franchise Application process to be considered eligible to purchase the store.
What is a Disclosure Document and how do I obtain the document?
The disclosure document describes in detail how the Ocean Basket franchise works and how the company is organised. It gives the potential franchisee information about the brand that allows them to make an informed decision. Once you have completed the application form, one will be sent to you or you can download it here.
How do I find a perfect location?
Ocean Basket will assist you in locating a site that meets yours and our requirements. If you have a site in your area that you would like to suggest, please feel free to contact our Franchise Team and we will work with you to determine the feasibility of the location. Looking for a site with our franchisees is about working together to find a site that will benefit both of us.
Will I have a protected territory?
Yes, you will have a protected territory. The area is about 1km (depending on the location of your store) and would be stipulated in the franchise agreement.
Where are the Ocean Basket restaurants generally located?
Ocean Baskets are generally located in shopping centres (super regional, convenient, and neighbourhood). We also look at stand-alone sites.
Do I need previous restaurant or franchising experience to become an Ocean Basket franchise owner?
A franchising background will be beneficial and helpful as it makes us aware that you, as an individual, understand what franchising is all about. But it is not an absolute necessity.
How soon can I open my Ocean Basket once I have successfully completed training?
Timing depends on a few factors, most importantly, if you are buying an existing store or building a new store. Once the store is built, for a new store, or the sale transaction is completed, for an existing store, the 4 to 6 week training program would need to be completed before you can take over the store.
What are the requirements for an operating partner?
Operating partners should have a minimum of 20% ownership in the business. Operating partners must complete the full franchise assessment process and be approved by the Ocean Basket New Business Committee.
Can I own more than one store?
Yes, absolutely, although we will only look at a second store after a period of 18 months. We need to ensure that you can run a successful operation.
What support will Ocean Basket give me in setting up and operating my business?
Ocean Basket will give you all the support and training required for developing and operating your store. You will have a dedicated opening team who will work with you and guide you throughout the process. Once your store is opened, our team will be on site for the first 2 weeks to ensure the successful opening and running of your new store.
What is the length of the Franchise Agreement?
Our Franchise Agreements have a term of 5 years.
What are the minimum net worth requirements to qualify as a candidate?
To qualify you would need to have 50% of the set up costs or selling price of the store in cash.
What are the royalty and advertising fees?
Royalties – 4.5 % of turnover
Marketing – 2.5 % of turnover
How can I finance my business?
There are a few different ways to finance your business. As a general rule, a bank may lend up to 50% of the value of the purchase price of the investment. The franchisee is then required to fund the balance through cash. We would then need proof of the unencumbered funds available. Ocean Basket also helps with facilitating the finance application.
What are the costs associated with setting up a store?
Joining Fee – R 171 000 (incl. vat)
Stock Guarantee – R 100 000 (to be kept in a trust account)
If a new store is to be built, the development costs would be site and spec specific – on average R 14 000 per m².
What kind of training is required by Ocean Basket?
Before you may begin operating your store, you and your partners / managers and other employees identified, must attend the full Ocean Basket Training program (lasting 4 to 6 weeks) to Ocean Basket’s satisfaction. Ocean Basket offers comprehensive restaurant and business training and support, including in-depth brand induction.
Where do I order my food products from?
Ocean Basket’s wholesale division supplies the majority of your food products. Franchisees benefit from our group buying to access the best parcel pricing.
Will I receive guidance on purchasing restaurant equipment and supplies?
We offer a comprehensive specification document with all equipment requirements. Our development team will assist you in the final selection and approval of the equipment. We offer a turnkey solution. This includes build out and shop fitting of your store.
How many employees does it take to operate a unit?
Depending on the size of the store, you will need 25 to 30 staff in total.
I am interested in Ocean Basket Franchising in another country. What is the process to become an International Franchisee?
Please follow this link to find out information about which countries are available for Master Licenses. You will also be able to complete the requirements check and application form via this link.
I am a landlord with available property that would be great for Ocean Basket. Would Ocean Basket be interested in my location?
Please complete the contact form and give us some details about your location / property. We will review the details and get back to you.
When will I need to do a revamp on my store?
You will need to do a revamp on your store before the end of the 5 year term of the Franchise Agreement.