Tint World Franchise Costs: Estimated Initial Investment (Item 7, 2021 FDD)
1. Initial Franchise Fee: $49,950
- When you sign the Franchise Agreement, you must pay the Initial Franchise Fee of $49,950 for a single Center, which is fully earned by Tint World upon payment and is non-refundable under any circumstances.
2. Real Estate Deposits, Improvements: $25,000 to $70,000
- A suitable Center, as approved by Tint World, is normally rented.
- Its size should range from a minimum of 3,000 to 6,000 square feet of interior space with HVAC, lighting fixtures, electrical outlets, telephone, and internet wiring installed, and at least one or more overhead bay doors with a workshop area to work on cars.
- The location will need remodeling inside and outside, and must be brought up to Tint World’s current standards.
- The financial costs and terms of leases, such as rental amounts, renovations, and security deposits vary, depending on factors such as size, condition, and location of the premises, and whether or not the premises is already set up similar to Tint World’s service operation.
- Centers that are open as of 2020 with 3,000 to 6,000 square feet of interior space, reported monthly rental amounts (excluding maintenance, taxes, and insurance) that varied from $4,000 to $7,000, with an average of $6,000.
- The amounts reported for security deposits ranged from $4,000 to $7,000, with an average security deposit of $6,000.
- The amounts reported for real estate improvements varied from $25,000 to $65,000, with an average of $50,000 (when including landlord tenant improvement allowance and an average of 1 to 3-month free startup rent).
3. Showroom Displays, Furniture Package: $39,900
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- This includes showroom interactive video, graphical explanatory menus, car audio and electronics demo, sales counter, feature wall and shelving to display products, racing chairs, and tables.
4. Signage Package: $7,000 to $14,000
- This includes channel letter illuminated exterior building sign, building survey, sign permit, and installation.
5. Equipment Package: $14,000 to $25,000
- This includes 60” film plotter, compressor, air hoses, vehicle lifts, tire mounting machine, wheel balancer, floor jack, generator, battery charger, router, work bench, bench vice, bench grinder, drill press, toolbox, stools storage cabinet, parts bin, film wall rack, pushcart, fender covers, power tools, 200-piece specialty tool set, tint and film tools, glass peel boards, heat guns, steamer, electronics scope, programming tool, detaining tools, pressure washer, shop vac, ozone machine, buffers, pads, brushes, knives, blades, tapes, cutters, shop garbage pales, shop mop, buckets, floor squeegees, janitorial supplies, first aid kit, and other supplies.
6. Administrative, Marketing, Graphics Package: $6,000 to $7,000
- This includes administrative, point-of-sale materials and merchandise, brochures, catalogs, office forms, work orders, stationery, business cards, pens, storefront brand window graphics, work vehicle brand wrap, showroom signs, bay service banners, uniform shirts, hats, and other items.
7. Freight, Delivery, Setup Package: $5,000 to $7,000
- This amount will vary in relation to the initial order of various products and the geographic area of your Center. This amount includes your office showroom display setup by Tint World’s Operations Manager.
8. Software Package: $5,000
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- This includes (i) Tint World Point-of-Sale Software; (ii) PRO-CUT Film Cutting Software; (iii) QBO Accounting Software; (iv) Franchise HUB Communications and Marketing System; and (v) Microsoft Office 365 with 2 Email Exchange Accounts, and other software that may be required from time to time as provided in the Operations Manual.
9. Grand Opening Promotion Package: $7,000 to $10,000
- This will include a one-day long “grand opening event” to invite your local community of prospective customers to visit your Center and celebrate the opening, and for your staff to meet and greet customers during the period commencing 20 days before and ending 90 days after its opening.
- This amount will be payable to and administered through the National Advertising Fund (the “NAF”).
10. Computers, Hardware, Phone Package: $4,500 to $5,500
- This includes computers, printer, merchant hardware, and 4 IP phones.
11. Initial Inventory Package: $25,000 to $35,000
- This is initial stocking inventory and supplies required to begin operating.
12. Business Insurance: $500 to $700
- Tint World estimates that your initial business insurance premiums expenditure will range from $500 to $700 for the first 30 days, which goes towards a full year of liability insurance coverage, including hired/non-owned automobile coverage, and workers’ comp insurance for your employees.
- The insurance costs, requirements, and rates may vary from state to state.
13. Business License: $500 to $700
- This amount will vary in relation to the services you offer and the geographic area and city of your Center.
14. Accounting, Legal Expenses: $1,000 to $2,000
- This amount may vary in relation to the choice of advisors and depth of work you require.
15. Travel, Living, Training Expenses: $3,000 to $5,000
- This amount is based on 2 persons attending the initial training program and will vary in relation to travel expenses for air fare, lodging, meals, seasonality, and the geographic area you are traveling from.
16. Work Vehicle Expenses: $600 to $1,200
- You will need at least one new or used commercial-grade vehicle specified or approved by Tint World on which the Marks must be placed to operate your work vehicle in servicing residential and commercial service operations for in-home and in-office professional sales and installation of window films, and other products and services that Tint World offers.
- The vehicle may be one you already have, or you can purchase or lease one.
17. Miscellaneous Expenses: $1,000 to $2,000
- This amount will vary depending on you and outside elements in relation to finalizing and setting up your Center.
18. Additional Funds (Working Capital) for 3 Months: $35,000 to $60,000
- This amount is to cover initial startup expenses during your first 3 months to 6 months of pre-opening, post-opening, and general operating expenses.
- These expenses may include lease payments, advertising, payroll, supplies, utilities, professional services, loan fees, vehicle expenses, taxes, debt service, uniforms, recruitment, on-site training, and other variable costs and supplies. These startup expenses do not include an owner’s salary or personal living expenses.
- Tint World will, upon request, refer you to one or several potential sources for financing your franchise business. If you request and receive a loan approval through one of Tint World’s lending sources, you will be required to pay $1,500 for a loan packaging service fee to Tint World or the lending source upon your receiving a funding approval letter.
19. Total Estimated Initial Investment: $229,950 to $339,950
- Tint World relied on its affiliates’ over 30 years of experience in operating Centers to compile these estimates.
- Tint World does not offer financing directly or indirectly for any part of the initial investment. The availability and terms of financing will depend on factors such as the availability of financing generally, your creditworthiness, collateral you may have, and lending policies of financial institutions from which you request a loan.
- The estimate does not include any finance charge, interest or debt service obligation, or your living expenses.