Most franchise conversations in India go like this: the brand quotes a number, you sign, and you discover six more line items after the ink dries. That's not how TBWX runs, and it's the single biggest reason our partners trust us enough to tell their friends.
Here's the full 2026 ledger. Every rupee, every line item.
The headline: Rs 3 to 5 Lakhs total
The range depends on format (kiosk vs small outlet vs full outlet with seating) and city (tier-2 real estate is cheaper than metro).
Kiosk format (60-120 sq ft): Rs 3 Lakhs
Small outlet (150-250 sq ft): Rs 3.5-4 Lakhs
Full outlet with seating (250-500 sq ft): Rs 4-5 Lakhs
Larger outlet = more initial investment, higher monthly revenue potential. The unit economics scale similarly across formats.
Line-by-line (full outlet format, Rs 4-5 Lakhs total)
### 1. Franchise fee: Rs 1,25,000 (one-time)
What it covers: rights to operate under the TBWX brand, use of recipes, operations playbook, initial training, territorial protection for your agreed area.
This is the only fee to TBWX that's pure 'brand access.' Everything else on this page is assets you own or expenses you'd have with any business.
### 2. Kitchen equipment: Rs 1,50,000-1,80,000
Belgian waffle iron (commercial grade): Rs 35,000
Bubble waffle iron: Rs 28,000
Poffertjes griddle: Rs 15,000
Commercial blender + soft-serve machine: Rs 45,000
Two-burner stove + panini press: Rs 25,000
Refrigeration (under-counter + visi-cooler): Rs 40,000
Prep tables + storage racks: Rs 15,000
All equipment is sourced through TBWX's approved vendor list at franchise pricing. You own the hardware — it's not leased.
### 3. Initial inventory: Rs 40,000-60,000
Starter pack of batter mixes, toppings (Nutella, Kitkat, Oreo, cream cheese, ganache), fresh-produce opening stock, packaging (boxes, cone holders, cups), cleaning supplies.
Enough for 10-14 days of sales. After that you re-order through our supply network or local approved vendors.
### 4. Branding and interior: Rs 60,000-1,20,000
Outdoor signage + neon 'Just Waffle It' branding: Rs 40,000-60,000
Indoor wall treatments in TBWX dark-luxe aesthetic: Rs 15,000-40,000
Menu boards, counter branding, seating if applicable: Rs 5,000-20,000
Range depends on site size and whether you're doing seating. Interior cost for a kiosk format is near zero.
### 5. POS and tech: Rs 15,000-25,000
Touchscreen POS terminal + printer: Rs 15,000
WiFi + router setup: Rs 5,000
TBWX ordering tech onboarding: included in franchise fee.
Zomato + Swiggy merchant setup is handled by our brand team — you don't pay a setup fee on the delivery platforms, but you pay their usual commission on sales (22-27% depending on platform).
### 6. Licenses and registration: Rs 15,000-30,000
FSSAI food license: Rs 7,500
GST registration: free, professional fees Rs 2,500
Shops and Establishment license: Rs 2,000-5,000 (state-dependent)
Trade license: Rs 3,000-10,000 (city-dependent)
Fire safety NOC if required: Rs 2,000-5,000
TBWX guides you through every license through our partner compliance team. You pay the government fees and a small service charge to the compliance partner.
### 7. Opening marketing: Rs 25,000-50,000
Launch-week Meta + Google Ads budget: Rs 15,000
Local influencer seeding (3-5 creators): Rs 10,000-25,000
Google Business Profile photography: Rs 5,000
Opening event collateral: Rs 5,000
This is where new franchise partners tend to under-invest. We strongly recommend the full Rs 50,000 for outlet launches in tier-1 cities; Rs 25,000 is acceptable in tier-2/3.
What TBWX covers (not in your budget)
Three common franchise surprises that TBWX absorbs:
1. Recipe training and trainer travel: Our master trainer comes to your outlet for the 3-day setup training. You don't pay travel or per-diem.
2. Zomato/Swiggy menu photography and listing setup: Our content team handles menu photography, description writing, and listing configuration. You don't pay for this.
3. Ongoing menu R&D: New flavor launches (typically one per quarter) come with updated recipes and training videos at no extra cost.
Ongoing monthly costs (post-launch, not upfront)
These are NOT part of the Rs 3-5 Lakhs investment. But for full transparency:
Rent: Rs 25,000-80,000 depending on city and site size.
Staff salaries (3 operators): Rs 45,000-75,000 total.
Royalty to TBWX: 5% of gross sales.
Raw material refresh: 30-35% of monthly sales (variable).
Zomato/Swiggy commission: 22-27% of orders from those platforms.
Electricity + utilities: Rs 8,000-15,000.
Monthly marketing contribution to brand fund: 1% of gross sales.
The 'what could go wrong' honest list
In the spirit of transparency, three things that genuinely could add cost:
Site-specific civil work. If your site needs electrical upgrades (higher load for kitchen equipment), water line extensions, or plumbing, that's Rs 20,000-80,000 extra that isn't on our ledger. Get a site survey done before signing a lease.
Local signage approvals. Some municipalities have expensive signage permission fees — especially metro cities. Factor in Rs 10,000-30,000 for this in Delhi, Mumbai, Bangalore, Hyderabad.
Working capital cushion. We recommend partners keep Rs 50,000-1,00,000 in liquid working capital for the first 3 months. This is not a cost — it's a buffer for any cash-flow blip.
So — Rs 3 Lakhs or Rs 5 Lakhs?
If you're doing a kiosk in a smaller town on a reasonable rent, Rs 3 Lakhs is real.
If you're doing a full outlet with seating in a tier-1 city, budget Rs 5 Lakhs + Rs 1 Lakh working capital cushion. That's your honest entry ticket.
Our typical breakeven for the full outlet format is 6-8 months. For a kiosk, it's usually 5-7 months because the operating cost base is lower.
Next step
If these numbers work for you, [apply for a franchise](/franchise/apply). Our team calls within 24 hours with city-specific numbers and a site fit assessment.
If you want more detail, see [how TBWX franchisees recover investment](/blog/tbwx-franchise-breakeven-how) and [the signup-to-first-sale timeline](/blog/tbwx-franchise-signup-to-first-sale-timeline).