Earnings Claims of Top Franchises Revealed

Earnings Claims of Top Franchises Revealed

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Franchise Costs: Detailed Estimates of ProTect Painters Franchise Costs (2015 FDD)

by Franchise Chatter on August 15, 2015

in Franchise Costs, Painting Franchise

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Detailed Estimates of ProTect Painters Franchise Costs Based on Item 7 (Estimated Initial Investment) of ProTect Painters’ 2015 Franchise Disclosure Document

1.  Initial Licensing Fee:  $14,900

2.  Territory Fee:  $30,000

  • A DMT will include approximately 25,000 to 30,000 targeted households within a contiguous area.
  • All Initial Fees must be paid 7 days before you attend Initial Training.

3.  Initial Package:  $10,000

  • You must purchase the Initial Package from the franchisor, which includes its proprietary Franchise Management Software System, marketing materials, tradeshow display items, public relations package, laptop/tablet computer, printer, trademarked office supplies, stationery, and the $1,000 Convention Allowance.
  • If this is a transfer, you must purchase a Transfer Initial Package from the franchisor at a price of $5,405.
  • If the agreement that you have with the Seller does not include a tradeshow display and/or computer that meets the franchisor’s specifications or it is more than 2 years old, the cost of the Transfer Initial Package will be increased by the price of the tradeshow display and/or computer.
  • There are no refunds, except if you attend the first Convention that is scheduled to occur after your successful completion of the Initial Training Program, $1,000 will be rebated to you as the Convention Allowance. If you do not attend the Convention, it will not be rebated to you.
  • Alternatively, the franchisor may rebate a portion of the Convention Allowance after attendance at a Regional Meeting.

4.  Office Equipment:  $0 to $750

  • The amount estimated for office equipment, fixtures, and furnishings includes desks, chairs, a file cabinet, wastebaskets, and other equipment and supplies necessary to begin the operation of the Franchised Business.
  • The low estimate is if you already have these items and the high end if you need to purchase them.

5.  Vehicle (3 months):  $1,500 to $2,500

  • Franchised Businesses begin operation with one vehicle that meets System Standards and specifications.
  • The approved vehicle list is available on the Internet website, although the franchisor reserves the right to revise the approved model and vendor for any future purchases/leases at any time.
  • As your Franchised Business grows, you will need to add additional vehicles.
  • The cost of purchasing and outfitting a vehicle typically costs around $24,900, plus applicable taxes.
  • The price listed here is the current three month lease price through the franchisor’s approved vendor, and a 48-month term, plus registration, including a maintenance program.

6.  Licenses/Deposits:  $1,050 to $2,400

  • As required by local and state laws and regulations.
  • Also includes the initial training and equipment costs for getting certified with the EPA.

7.  Travel and Living Expenses While Training:  $2,500 to $3,500

  • Out-of-pocket travel expenses vary depending on your proximity to the franchisor’s training centers in Ann Arbor, MI, Norcross, GA, and/or other locations determined by the franchisor; the type of transportation you use; and your individual expenses during the Initial Training period of 10 days.
  • For the purposes of this Item, the franchisor has estimated training cost for 1 individual.

8.  Prepaid Insurance Premiums (3 months):  $1,200 to $3,000

  • Typically, insurance companies require startup businesses to pre-pay a portion of their premiums. Premiums vary based on the state’s rates for workers’ compensation and general liability policy.

9.  Additional Funds (3 months):  $13,750 to $23,750

  • This item estimates your initial startup expenses for the first three months of operations, not including those expenses identified separately in the table.
  • The estimate of additional funds does not include an owner’s salary or draw; it does include basic initial painting supplies, advertising, and a cell phone that has GPS.

10.  Totals:  $74,900 to $90,800

  • The franchisor has relied on the management team’s general experience with franchising in the United States to compile these estimates.

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