Risk Score
Pending analysis
Investment Range
$13,500 - $292,000
Franchise Fee
$5,000
Min Cash Required
$25,000
Total US Locations
1
Business Summary
Town Pride operates specialty retail shops that offer a curated collection of products, including their own proprietary brand, with a strong focus on local styles and products. The business model, developed from a wholesale operation, comes in two forms: a Full Franchise, which is a standalone shop, and a Shop within a Shop Franchise, which is added to an existing business.
Corporate History
Town Pride Franchising, LLC was established as a Delaware Limited Liability Company in 2024 to serve as the franchisor. Its affiliate, TownPride USA, LLC, which was formed in 2019, has been operating a wholesale distribution business since 2021. The retail store model that forms the basis of the Town Pride franchise system was first launched by this affiliate in Yarmouth, Maine, in 2023.
Financial Overview
Investment Range
$13,500 - $292,000
Franchise Fee (Low)
$5,000
Franchise Fee (High)
$30,000
Minimum Cash Required
$25,000
Royalty %
5%
Marketing %
1%
Equipment Costs (Low)
$1,500
Equipment Costs (High)
$25,000
Working Capital
$32,500
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
Town Pride Franchising, LLC is a newly formed company and its financial statements, which include only an opening balance sheet, raise questions about its ability to provide services and support to franchisees. The auditors provided an unqualified opinion on this initial balance sheet, but its limited history as a franchisor means there's less information to assess its financial strength.
Financing Details
Town Pride does not offer any direct or indirect financing options to its franchisees, nor does it guarantee any loans, leases, or other financial obligations for them. Franchisees must secure all necessary funding independently.
Performance Metrics
Total US Locations
1
Franchised Units
0
Corporate Units
1
Avg Square Footage
2,000
Franchising Since
2024
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
No
Litigation Summary
Town Pride has no litigation history to report.
Bankruptcy History
Town Pride has no bankruptcy history to report.
Agreement Terms
Initial Term
5 years
Renewal Term
5 years
Renewal Conditions
To renew their agreement, Town Pride franchisees must provide advance notice to the franchisor and be in full compliance with all contractual obligations. They must also renovate their business to meet Town Pride's current standards, sign the franchisor's then-current franchise agreement (which may have different terms), and execute a general release of claims.
Training & Support Program
Franchisor Assistance
Town Pride provides franchisees with pre-opening assistance, including reviewing potential locations and providing standard building plans and décor specifications for Full Franchises, or retail setup elements for Shop within a Shop Franchises. They offer guidance on staffing, hiring, and business plans, along with an initial training program. Full Franchises also receive 3-4 days of on-site opening support. After opening, Town Pride offers advice on business development and problem-solving, provides recommended pricing, and manages the marketing fund. They also maintain a brand website and provide email addresses for franchisees.
Initial Training Hours
50
Training Location
Corporate headquarters in Yarmouth, ME, franchisee's location, or virtual
Ongoing Support
After opening, Town Pride offers ongoing support to franchisees through telephone and electronic communication, providing advice on business improvement and operational problem-solving as deemed reasonable. In-person support is available for a fee. Town Pride also provides recommended procedures for administration, bookkeeping, accounting, and inventory control. They manage the Marketing Fund, maintain the brand's website including franchisee information, and provide email addresses.
Franchise Requirements
Ideal Candidate Profile
For a Shop within a Shop Franchise, Town Pride seeks candidates who have been in business for at least two years or have five or more years of experience in a related industry.
Industry Experience Required
Yes
Management Experience Required
No
Sales Experience Required
No
Technical Skills Required
No
Min Years Experience
2
Operational Details
Location Type
Retail
Owner Participation
Supervisory
Territory Type
Protected
Territory Size Requirements
Town Pride territories are defined around the business location, typically by a radius, to include a population of approximately 15,000 to 50,000 people. Other boundaries like county lines or geographical features may also be used. If the territory is not formally defined, it is considered to be the zip code of the business and surrounding zip codes totaling at least 15,000 in population.
Staffing Notes
Town Pride provides franchisees with suggested staffing levels, hiring guidelines, and operational instructions in its manual, which can be used for training new employees. The business must always be supervised on-site by either the Principal Executive or a general manager who has completed Town Pride's training program. Franchisees are solely responsible for all hiring decisions and employment conditions, and Town Pride may set minimum qualifications for various employee categories.