Detailed Estimates of MaidPro Franchise Costs Based on Item 7 (Estimated Initial Investment) of MaidPro’s 2018 Franchise Disclosure Document
1. Initial Franchise Fee: $0 to $17,000
- Initial Franchise Fee for a Select Market Franchise with an estimated territory of 20,000 qualified households is $17,000.
- If you are a qualified veteran of the United States armed forces, the Initial Franchise Fee without the purchase of additional territory for a Select Market Franchised Business is $14,000.
- If you are a conversion franchisee, the Initial Franchise Fee is waived but you still have to pay $0.85 per each qualified household purchased over 20,000 qualified households.
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, MA.
- MaidPro provides this training at no cost for up to two individuals.
- These are your estimated expenses for one to two persons for travel, lodging, and food 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 Manual. 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, additional supplies and equipment may be recommended.
- 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: $5,300 to $7,200
- This is an estimated initial fee for closing on a leased standard passenger 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 car 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, which includes MaidPro’s current recommended monthly local advertising during the first 3 months of operation.
8. Real Estate: $5,550 to $9,300
- MaidPro does not require you to have an office location for your Select Market Franchise, however it is recommended.
- It is not expected that you will purchase real estate to operate the Franchise. Therefore, there is no initial investment included in the summary above for real estate.
- Nevertheless, you should be aware of the rents you likely will pay for the premises for your Franchise 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.
- All associated costs for this recommended office location have been added to this estimate.
10. Additional Funds for 3 Months: $17,800 to $22,000
- Includes payroll costs, insurance, etc.
11. Optional Original Territory: $0 to $8,500
- For larger territories, additional qualified households can be purchased for $0.85 each.
12. Total: $57,560 to $98,300
- MaidPro does not offer financing to you for any items except for $5,000 of the Select Market Initial Franchise Fee.
- 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 26 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.
- The total estimated initial investment necessary to begin operation of a MaidPro Franchise in an Enterprise Market ranges from $65,210 to $142,550.
Enterprise Multi-Unit Market
- The total estimated initial investment necessary to begin operation of a MaidPro Franchise in an Enterprise Multi-Unit Market ranges from $159,610 to $207,450.