Does the Cream initial investment estimate include tenant improvement allowances?

According to Cream's 2025 Franchise Disclosure Document, the initial investment estimate does not include any tenant improvement allowance that a franchisee may negotiate. Tenant improvement allowances are financial contributions from the landlord to the tenant, designed to offset the costs of customizing the leased space.

The FDD indicates that the cost of leasehold improvements can vary significantly based on factors such as the size and configuration of the premises, pre-construction costs, and the cost of materials and labor. The low end of the estimate assumes minimal improvements to a 900 square foot retail space, while the high end assumes more extensive improvements to a blank, 1,400 square foot space.

Cream's affiliates opened 17 Jeni's Ice Creams Scoop Shops and relocated/renovated one between 2023 and 2024. For these 18 locations, the average leasehold improvement was $563,226, with a low of $327,536 and a high of $1,149,331. The average tenant allowance from the landlord was $67,513 with a low of $0 and a high of $113,027. This data highlights the variability in costs and the potential for negotiating tenant improvement allowances, which are not factored into Cream's initial investment estimates. A prospective franchisee should consider this when projecting their potential costs.