La Toque Cuivrée tops several rankings for the best fluted in Bordeaux. The outsider of the Bordeaux specialty reshuffles the cards of the market of this pastry, until then presented as a high-end delicacy. After years of opening several stores, the company is taking off by chaining new addresses in recent years. In February 2022, La Toque Cuivrée has 16 shops in Bordeaux and the surrounding area, two in the Bassin d’Arcachon, one in Libourne, Paris, Toulouse and La Rochelle. Inevitably, entrepreneurs and franchise enthusiasts are wondering. What is the profitability of the brand? Is it possible to become a franchisee of La Toque Cuivré?
Franchising is a mode of operation that could bring several advantages to the company, which is positioned as a reference brand in Bordeaux. Franchising is an operation that allows a company, franchisor, to collaborate with one or more other companies, franchisees. This means makes it possible to set up a rapid presence at the national level in particular. Indeed, this makes it possible to establish new points of presence in order to radiate the know-how over a larger area.
Therefore, this larger presence ensures greater notoriety and visibility. This also allows for a controlled investment. In particular, the franchisee will take charge of the creation of the point of sale. The franchisor will have to assume the costs ancillary to the franchise such as the recruitment of franchisees, support, or the creation of new services. However, these costs are absorbed by the entrance fees paid by the franchisees. Finally, at a time when consumers are increasingly turning to online consumption, the presence of franchises in several cities in the territory could make it possible to set up collection points for orders.
La Toque Cuivrée, from the factory outlet to the brick-and-mortar boutiques
Created in 1999 in Artigues-près-Bordeaux, La Toque Cuivrée remained for a long time an isolated factory outlet. At that time, the reference of the Bordeaux canelé, Baillardran already had several shops in Bordeaux. No one will have seen La Toque Cuivrée coming, which will take 10 years before opening a second shop. Then, the company gradually accelerates its development, so that in 2013, it already has 8 stores. It took a major turn at this time by inaugurating a few months apart 5 beautiful addresses in the city center and on the left bank of Bordeaux.
With its policy of democratization of the canelé, La Toque Cuivrée makes the competition cringe. For good reason, since the opening of its first factory outlet, the company has not betrayed its positioning. It effectively proves that a market exists for quality canelés at a price 3 times lower than the competition. Outside the city center of Bordeaux, important for the image of the brand, the majority of shops are located on the outskirts, along roads with easy parking. Simplicity, accessibility, authenticity… A recipe that makes the brand a reference and puts an end to the Baillardran monopoly by occupying another market segment.
A company that remains secret about its turnover and its development policy
However, the success of the brand also results from the aura of mystery and secrecy that floats around. Indeed, the company remains very discreet about its financial results or its strategy. Nor does it have a known development policy and even has fun cultivating the idea that it is guided by consumer demands to open new stores. In any case, to date, La Toque Cuivrée masters all the points of sale. For good reason, the brand is not a franchise and nothing suggests that it plans to change its model. It must be said that with the ongoing trial with its biggest competitor, the period is not necessarily conducive to great revolutions.
In terms of turnover, La Toque Cuivrée no longer communicates since 2015. At that time, it had a turnover of €3,503,800. The balance sheet total then increased by 18.95% between 2014 and 2015. The turnover is no longer shared since, on the other hand, the balance sheet total is still accessible and indicates that it has doubled in 4 years. It was 3,370,748 euros in 2015 and reached 6,525,814 in 2019. (1)
This is still half as much as its main competitor but perhaps the nerve of the war is less on turnover than on sales volume or rapid growth.
- Company Profile THE COPPER TOQUE, Verif