Soup Nazi - a first look at Soupman
About 25 Original SoupMan Cafés have opened (plus a wholesale business) since Yeganeh began to franchise his restaurants last year based on his original Soup Kitchen International in New York. One blogger feels that $7.95 for a bowl of soup from the Soupman (Soup Nazi from Seinfeld) is too pricey. He posted some pictures too.
Considering I paid about $5 for a grande, sugar-free Cinnamon Dolcé Latte at Starbucks today, 3 more dollars for hearty veggies and/or meat seems with the reasonable range.
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A bulky soup can have as much meat/veggie contents (less the bread) as a sandwich. I bet the fat content in the creamy soups rival Big Macs, though. I would favor Soupman over the others because the nastalgic buzz from Seinfeld will probably last through the 30-50 age demographic for another decade.
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1. The issues with the franchisor are much deeper than it appears.
1. The company is undercapitalized. An investment bank retained to raise capital for the franchisor had discontinued its efforts after having received commitments for approximately 25% of the targeted capital. This was a result of the poor operating results of the company and its underlying franchisees.
2. The company has been seeking an acquiror of its operations. Throughout this effort the issues and challenges brought to the attention of the company by its franchisees have been quietly addressed but none of the problems have been resolved.
3. The misrepresentations made by the franchisor to induce franchisees to acquire territories and open up an Original Soupman outlet are many: (a) understatement of food costs; (b) co-branding with Cremalita ice cream to balance overall sales in warm months was abandoned soon after first 12 stores opened for business; (c) mandated use of cups and bowls that are 25% larger than purported serving portions, resulting in giving away 25% more product than consumer was paying for and at the same time causing an increase in purchases of product from the company to replenish inventory.
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For everyone’s own good…stay away from Soupman. The Soup is great. But…don’t even think of it as a good investment….unless your idea of a good investment is to lose tons of $$….like hundreds of thousands. Franchisor is a horror and phony, misrepresents cost of investment and COGS, model has never worked…price point is too high to build any loyal following that will even support the operation to a break even point. Speak to the 12+ locations that already closed and the Franchisees all lost Hundreds of thousands, filed for bankruptcy and lost their homes. Didn’t know that many closed? Maybe because the Franchisor and their soldiers don’t disclose what they are required to.
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