Are you thinking about buying a franchise, but not sure what’s included in the cost? Franchise opportunities come in all shapes, sizes and industries. Depending on what you choose, the franchise package options available for purchase will vary based on services and types of support. We’ve put together a quick guide detailing some of the franchise costs, packages, and options out there, so you can take the right steps to open your own franchise business.
What’s included in franchise costs?
Many entrepreneurs start their search by looking for cheap franchise opportunities but fail to understand how important these fees are to get you up and running. The reality is when you buy a franchise, you’re buying the right to operate a business selling goods or services that already has a recognizable brand name and business model. Compare that to starting a business from scratch, where you must work to build your brand name from the ground up.
Types of franchise packages
Every franchise is different. Many franchise brands offer a variety of packages that require different investment costs. For example, Coverall gives franchised business owners the option to choose from different franchise packages. Below is what may be included in every level of investment.
- Your initial customer base offering
- Specialized and ongoing training
- Billing and collection services
- Customer service support
- Local and field support
- Targeted Local Marketing and Advertising.
Other common costs include inventory and supplies, working capital (day-by-day cash available for your business), or legal and accounting fees.
Keep in mind
: Your franchise costs may vary based off your initial desire of the size of your customer base.
Discovering financing options
No matter which package you choose, many franchise brands offer financial assistance to their franchise business owners. As you are narrowing down potential franchises, talk to the franchisor about their financing options. Coverall offers franchise owners in-house financing options for an added convenience.
Furthermore, your chosen franchise may offer discounts, like Coverall’s military veterans program
that gives up to 10%* off the initial franchise fees to U.S. military vets.
With a franchise commercial cleaning business
like Coverall, you make the decisions: you determine your own hours and schedule, hire your own team, and grow your business at your own pace.
Learn more about the benefits of owning your own commercial cleaning franchise by contacting Coverall today