Detailed Estimates of Geeks On Call Franchise Costs Based on Item 7 (Estimated Initial Investment) of Geeks On Call’s 2014 Franchise Disclosure Document
1. Initial Franchise Fee: $29,900
- Geeks On Call does not finance any fee. All fees are non-refundable.
2. Traveling and Living Expenses While Training: $500 to $1,000
- Initial training will be conducted at Geeks On Call’s offices in Independence, OH or at other mutually approved locations, and you will incur some travel and living expenses.
3. Real Estate and Improvements: $0 to $6,000
- The business can be operated from home and no special improvements are required. If working from home is not possible, you may incur additional expenses to lease or purchase minimal office space in which to operate the business.
- In the event you choose to lease or purchase business premises, an office space as small as 100 square feet is sufficient to operate the business as the business is primarily operated on site at the customer’s location. In most cases, the terms and conditions of all agreements relating to the purchase, lease, and alteration of the office will be negotiated solely by you.
4. Equipment: $0 to $3,000
- You will most likely have all the equipment needed to run the business, as it is any standard industry computer system, with Internet access, situated in a home office environment.
- If you do not need to obtain a computer, software, or communications equipment, you can obtain these from a local supplier as Geeks On Call does not provide them as part of the franchise fee. It is your responsibility, at your own expense, to obtain such computer and communications equipment necessary to operate the franchise.
- Currently, specific requirements as to the equipment needed include:
- (a) A device that enables you to send and receive email correspondence.
- (b) You must obtain and maintain a mobile device capable of making and accepting phone calls, sending and receiving text messages, and with Internet access for each person you employ or retain in the Territory. This device should have the ability to allow for electronic signatures (for electronic invoicing). Tablet devices such as the iPad are recommended but not required, although Geeks On Call may choose to require them in the future.
- (c) You have a word processor and printer sufficient to send letters, statements, and other appropriate correspondence to the franchisor and customers.
5. Miscellaneous Opening Costs: $1,000 to $2,000
- Additional Opening Costs may be required for a smart phone, Internet access, setting up a legal entity, and business insurance.
6. Opening Inventory: $0 to $1,000
- Geeks On Call provides a Business Starter Kit as part of the initial fee. This includes essential items needed to start the business, such as business cards, promotional leaflets, etc.
- A set of basic spare parts is useful but not obligatory as supplies can be purchased as and when needed, plus you may have a number of spare parts built up over time. The total cost to purchase a complete set of recommended spare parts would be under $1,000. These you can obtain from a local supplier of your choosing, or from a franchise recommended vendor.
7. Payroll (Technician Salary): $0 to $30,000
- You may choose to do the technical work yourself or hire technicians. Your payroll cost will depend on the technician’s experience level, cost of living, hours worked, and the prevailing wage rate.
8. Insurance: $300 to $1,000
9. Additional Funds (3 Months): $500 to $3,000
- This estimates your initial start-up expenses. These expenses are primarily a weekly advertising budget for local area promotion of between $100 and $150 per week.
- No staff is required and if there is a need for sub-contractors, they can be paid out of income received.
- Geeks On Call cannot guarantee you will not have additional expenses starting the business.
- Your costs will depend on factors such as how much you follow Geeks On Call’s methods and procedures; your management skill; experience and business acumen; local economic conditions; the local market for your services; competition; and the sales level reached.
10. Total: $32,200 to $76,900
- Geeks On Call has relied on its experience in the technology service business to compile these estimates. You should review these figures carefully with a business advisor before making any decision to purchase the franchise.
- Geeks On Call does not offer direct or indirect financing to you for any items.