This post was updated on May 10, 2017 to reflect information from Minuteman Press’s 2017 FDD (Item 7).
Detailed Estimates of Minuteman Press Franchise Costs Based on Item 7 (Estimated Initial Investment) of Minuteman Press’s 2017 Franchise Disclosure Document
- Except where noted otherwise, all amounts that you pay to Minuteman Press are non-refundable. Third party lessors and suppliers will decide if payments made to them are refundable.
1. Initial Franchise Fee: $23,000 or $47,500
- If you purchase an existing center, then the initial franchise fee of $47,500 shall not be payable. In this instance, you will be required to pay Minuteman Press a transfer/training fee of $23,000 or the then-current fee.
- If you are an existing franchisee, you will pay a reduced non-refundable franchise fee of $23,000 for an additional outlet.
2. Real Estate: $1,000 to $5,000
- You will need a retail location with sufficient space, between 750 and 1,200 square feet. Typically, a Minuteman Press Center is located in a strip center, standalone building, industrial center, or attached storefront. Rents vary widely depending on location, size, length of lease, and general market conditions.
3. Real Estate Security Deposit: $1,000 to $5,000
- Lease security deposits will vary depending upon a number of different factors, such as occupancy rate, length of lease, personal vs. corporate signature, and personal financial history of franchisee.
4. Equipment Package Deposit (if leased): $4,135
- Leasing your equipment reduces your initial investment by spreading out monthly payments for the use of your equipment rather than paying an initial sum for the purchase. You may lease the equipment package through an outside leasing or finance company rather than paying the lump sum amount for the purchase.
- Leasing the equipment does reduce your initial investment but likely will result in higher payments over the term of the lease because of interest payments and other charges.
- You and the lessor will determine the precise amount of any initial or periodic payments at the time of the transaction. Market forces will determine loan repayment totals and interest rates.
5. Equipment Package: $48,043
- Minuteman Press currently recommends and makes available to its new franchisees the 2016 equipment package. Details and specifications for this equipment package are included in Exhibit A of the franchise disclosure document.
6. Leased Equipment: $1,322
7. Equipment Package – Reconditioned (if available): $1,000 to $1,800
8. Software: $0 to $6,995
- You are also required to purchase Minuteman Press’s proprietary Management Software. If you purchase the equipment package from Minuteman Press, the software is included. If not, you will pay a $6,995 software license fee to Minuteman Press.
- If you purchase an existing center currently using third party software, FLEX, FOCUS, or an earlier version of Minuteman Press’s software such as MSS90 or MSS2000, you will pay to Minuteman Press a software license fee ranging from $495 to $6,995.
9. Insurance (6 months): $750 to $2,000
- The amount of insurance is an estimate of basic insurance during the first six months of operation. You are required to obtain, at your cost and expense, policies of insurance insuring the franchise, throughout the term of the agreement.
- Such insurance shall include coverage for Comprehensive General Liability, including product and complete operations, insurance against claims for bodily and personal injury, death, and property damage caused or occurring in connection with the operation of the franchisee’s business.
10. Shipping: $3,000 to $8,000
11. Utility Deposits: $0 to $1,000
- These amounts are estimates and could vary according to local regulations.
12. Business Licenses: $0 to $1,000
13. Additional Funds (0-6 months): $30,000 to $45,000
- Additional funds are estimates only and are intended to apply only during the initial phase of operation. These estimates do not preclude the investment by you of additional funds after the initial phase of operations is complete. You should not infer that your revenues will exceed your expenses at the end of the six month initial phase.
14. Approximate Total If You Lease Your Equipment Package: $64,207 to $119,957; Approximate Total If You Purchase Your Equipment Outright: $108,115 to $163,865