Cost: Low-Moderate. Between $50,000-$100,000.
Financing: Average. Third party financing will likely require some collateral and/or available liquid assets.
Learning Curve: Moderate-Challenging. You may be required to acquire a new set of skills pertinent to the franchise system.
Training: Training will include textual materials and hands-on application.
Other Operating Requirements: You may be required to keep a home office or base where you will store your equipment and/or supplies. Your turnkey costs may or may not include the purchase of a vehicle with corporate signage. Extensive marketing, promotion, and travel will be required. The franchisor may encourage a commercial presence such as a retail or industrial unit. Your territory could be restricted. Ongoing support could be conducted via telephone, email and/or in the field. Royalties could be either percentage-based or a flat fee paid monthly.
Best Suited For: Individuals who prefer a hands-on business model. Unlike a home-based franchise, service-based franchises may demand unusual hours of operation. You must enjoy working with people and be a problem-solver. These franchise opportunities will require constant upgrading of skills and staying up-to-date with industry innovations or issues. You may be required to hire a support staff to meet the demands of your growing business.
