Detailed Estimates of MaidPro Franchise Costs Based on Item 7 (Estimated Initial Investment) of MaidPro’s 2021 Franchise Disclosure Document
1. Initial Franchise Fee: $20,000
- The Initial Franchise Fee for a franchise with an estimated territory of 20,000 Qualified Households is $20,000.
2. Travel and Living Expenses While Training: $3,800 to $4,500
- MaidPro does not charge you for its training programs for new franchisees. This training consists of both Pre-Opening SmoothStart Training, which is a self-paced program conducted via telephone through the use of the MaidPro Intranet, and also In-House Corporate Training provided at MaidPro’s corporate location in Boston, Massachusetts or another location MaidPro designates or by remote/virtual means.
- MaidPro provides this training at no cost for up to two individuals.
- These are your estimated expenses for one to two persons for travel/transportation, lodging/hotel, and food/meals while attending the In-House Corporate Training in Boston.
3. Equipment: $5,650 to $7,650
- MaidPro will designate the amount of equipment needed in the confidential manuals (“Manuals”). Your costs will vary.
- The equipment is comprised of general cleaning equipment, including a set of vacuum cleaners and cleaning supplies. Depending upon your initial employee structure, MaidPro may recommend additional supplies and equipment.
- A conversion franchisee may have previously purchased some or all of these items.
4. Miscellaneous Opening Costs: $6,160 to $8,850
- Includes computer, software, incorporation fees, etc.
- The cost of equipment you purchase will vary depending on the amount purchased by you, the supplier you choose, and the current economic condition in your area.
5. Cost for Initial Vehicle with Signage (lease): $5,300 to $7,200
- This is an estimated initial fee for leasing a vehicle that is less than 7 years old. Costs will vary based on type of vehicle leased.
- The estimate does not include ongoing gas and maintenance expenses.
- If you purchase the vehicle you use, the initial investment could be significantly higher.
- MaidPro requires that the vehicle display the MaidPro car wrap. The cost for the wrap has been included in the estimate.
- A conversion franchisee may have previously purchased a vehicle, but the vehicle will need to be re-branded with the MaidPro wrap.
6. Initial Printing Materials: $1,300
- This is an estimate for the initial costs of miscellaneous stationery needs during setup.
7. Advertising – Initial 3 Months: $12,000
- This is an estimated cost for advertising during the first 3 months of operation, which includes MaidPro’s current required minimum monthly local advertising spend of $2,000 for the first 24 months after opening of your Franchised Business. After 24 months, the Manual governs the amount in relation to your Gross Consumer Sales.
8. Real Estate: $5,550 to $9,300
- MaidPro does not require you to have an office location for your Franchised Business, however it is recommended.
- It is not expected that you will purchase real estate to operate the Franchised Business. Nevertheless, you should be aware of the rents you likely will pay for the premises for your office. You should anticipate leasing approximately 600 to 1,000 square feet of space.
- While MaidPro does not specify where you must locate the office, it must be within your territory, you both must agree upon a suitable location, and MaidPro must provide its consent.
- MaidPro anticipates that in most parts of the country you will pay monthly rent of approximately $0.85 to $1.50 per square foot.
- Most landlords provide some, and under certain circumstances, all of the leasehold improvements as consideration for the lease.
- Most leases will carry additional common area maintenance, insurance, and tax expenses.
- You will generally be required to make a rent deposit (equal to 1 to 2 months of your base rent, plus a security deposit) and utility deposits.
9. Insurance: $2,000 to $12,000
- You must purchase and maintain throughout the term of the Franchise Agreement, insurance MaidPro requires.
10. Additional Funds for 3 Months: $17,800 to $22,000
- Includes payroll costs, professional fees, etc.
11. Optional Additional Territory: $0 to $5,000
- For larger territories, additional Qualified Households can be purchased for $1.00 each. The high estimate assumes a purchase of 5,000 additional Qualified Households.
12. Total: $79,560 to $109,800
- MaidPro does not offer financing to you for any items, except for the amounts disclosed in Item 5 for certain specified franchisee prospects.
- MaidPro is unable to estimate whether you will be able to obtain financing from third parties or the terms of any third-party financing. All costs given, except for the Initial Franchise Fee, are estimates only. Your actual costs will vary depending on location and a number of other factors. None of your expenses are fully refundable.
- These estimates are based on MaidPro’s 29 years of experience in the operations of home cleaning services and information provided to MaidPro by its franchisees. These are estimates only and can vary for many reasons. You should review these estimates with an advisor before you make any decision to purchase a franchise.
- Many of the expenses listed are not within MaidPro’s direct control and are determined more by general and local economic conditions than MaidPro’s actions.