One of the distinct advantages of opening a franchise, as opposed to starting your small business from scratch, is knowing what your startup costs are going to be ahead of time — and a home improvement franchise with Floor Coverings International is no exception. We believe it’s important to let prospective franchisees know what to expect when it comes to the cost of opening their business. So, how much does it cost to own a franchise with us? Let’s take a look at some of the expenses, here — and what you’re paying for.
An Initial Franchise Fee
No matter what franchise brand you decide to invest in, one of the first expenses you’ll encounter is a one-time franchise fee. All franchisors charge one, and in our case, you can expect to pay $57,900. Your franchise fee gets you immediate access to our proven business model, our proprietary operations manual, and thorough pre-opening franchisee training, among other benefits. You’ll take part in a 45-day in-home study program that includes courses and other resources that’ll prepare you for opening. You’ll also spend three weeks at our headquarters in suburban Atlanta going over additional necessary training. We do everything we can to make sure you’re ready to hit the ground running, from the moment of your grand opening and going forward!
Additionally, as part of your home improvement franchise with us, you’ll be required to purchase an Opening Package. This important package includes carpet and hard surface flooring samples, a laser measuring device, training materials, a license to use our proprietary software program, advertising brochures and materials, a public relations start-up campaign, a van graphics package, our branded stationery, yard signs, showroom displays, and display racks. Your package is important for many reasons, because it contains just about everything you’ll need to begin your business with us.
Marketing your new franchise is extremely important, especially during the first few months of operations as you work to establish yourself in your community. That’s why we require you to spend between $40,000 and $60,000 on local advertising within the first four months of operation. After that, we’ll require you to spend 6% of your gross sales annually on local marketing and promotion. We know the importance of getting the word out, and are here to help you devise marketing strategies that will best reach your target audience.
You can also count on expenses associated with staff, software, office supplies, travel, and insurance, among other necessities. In total, you can expect to pay somewhere between $226,400 – $340,100 to get your home improvement franchise up and running with us. When you do, you’ll begin to enjoy the freedom that comes with being your own boss, and with our mobile flooring franchise system. Because you won’t need a traditional storefront, your overhead will be much lower than it would be otherwise, and our proven business model will let you capitalize on a thriving industry right away.
How much does it cost to own a franchise with us? Reach out today for more information!June 13, 2019