Footprints Floors Franchise Costs: Estimated Initial Investment (Item 7, 2021 FDD)
- These estimated initial expenses are Footprints Floors’ best estimate of the costs you may incur in establishing and operating your Footprints Floors Franchise.
- Because this is a mobile business and most of Footprints Floors’ franchisees will operate their Footprints Floors Business out of their residence, the estimates do not include estimates for items such as real property, real estate deposits, leases, leasehold improvements, fixtures, fixed assets, remodeling, construction, decorating costs, utility deposits, or security deposits.
- Footprints Floors does not offer direct or indirect financing for these items.
- All expenditures paid to Footprints Floors or its affiliates are uniform and nonrefundable under any circumstances once paid. All expenses payable to third parties are non-refundable, except as you may arrange for deposits and other payments.
1. Initial Franchise Fee: $62,000
2. Training Expenses: $500 to $5,000
- Footprints Floors provides training at its training center in Denver, Colorado or at another location designated by Footprints Floors.
- You must pay for airfare, meals, transportation costs, lodging, and incidental expenses for all initial training program attendees.
- The low estimate assumes you live in the Denver, Colorado area and will have fewer training related expenses.
3. Furniture and Office Supplies: $50 to $1,000
- This includes estimates for office furniture and office supplies.
- The low end assumes you already have office furniture or do not choose to have an office.
4. Computer System: $0 to $3,000
- This includes the estimate for one desktop or laptop computer capable of running the latest Windows or Mac operating system, one printer, one scanner, QuickBooks Online account, Microsoft Office, and Adobe PDF.
- The low end assumes you already have all of the hardware and software, which you may use.
5. Insurance: $50 to $150
- You must obtain and maintain, at your own expense, the insurance coverage Footprints Floors requires, and satisfy other insurance-related obligations.
- If you have had prior issues or claims from previous operations unrelated to the operation of a Footprints Floors Business, your rates may be significantly higher than those estimated above.
6. Professional Fees: $300 to $1,000
- Footprints Floors strongly recommends that you hire a lawyer, accountant, or other professional to advise you on this franchise offering and to assist you in setting up your Footprints Floors Business.
- Rates for professionals can vary significantly based on area and experience.
7. Business Licenses and Permits: $0 to $2,000
8. Vehicle: $300 to $4,000
- This item includes one vehicle which you will use in the operation of the Footprints Floors Business (“Vehicle”).
- You may use a vehicle you currently own as your Vehicle, provided it meets Footprints Floors’ specifications and that Footprints Floors approves your Vehicle prior to use; otherwise you will be required to lease or purchase a Vehicle.
- You are required to add a wrap or other marketing decals to your Vehicle, which must be approved by Footprints Floors.
- The low estimate represents use of a vehicle which you currently own as the Vehicle. The high estimate represents the total payments for the first three months for a leased Vehicle.
- This chart does not include estimates for items such as purchasing your Vehicle, acquiring a license, insurance, registration, or other permits for your Vehicle, or otherwise making improvements to your Vehicle, except for a wrap. Your initial investment will be higher than the figures listed if you purchase the Vehicle.
- Footprints Floors may revoke its approval of a Vehicle if the Vehicle no longer meets Footprints Floors’ minimum standards.
9. Franchise Starter Package: $1,080
- The Franchise Starter Package includes one laser measuring device, $200 in apparel credit to Footprints Floors’ designated online apparel storefront, initial marketing materials, business cards, proposal forms, and estimate notepads.
10. Miscellaneous Costs: $0 to $500
- This estimate includes office supplies, mobile telephone fees, high-speed internet, and business entity filing fees.
11. Virtual Office Membership Fee: $100
- Most Footprints Floors franchisees will operate their Footprints Floors Businesses out of their homes, but some Footprints Floors franchisees choose to secure a virtual office. You are not required to have office space or a showroom.
- The estimate in the table above is for a typical one-year membership fee for a virtual office space for your Footprints Floors Business that is paid in addition to monthly rent. Your actual payment may vary depending upon your location and your market’s rates.
12. Additional Funds for 3 Months: $5,750 to $17,750
- These amounts represent Footprints Floors’ estimate of the amount needed to cover your expenses for the initial three-month start-up phase of your Footprints Floors Business.
- It includes advertising; the first three months of lease payments for a virtual office (estimated to be $80 per month); the first three months of the Technology Fee (currently $250 per month); the first three months of the Managed Website Services Fee (currently $500 per month); and other prepaid expenses, accounting and professional fees, and other operational expenses.
- The additional funds do not include payroll costs during the first three months of operation, nor any draw or salary for you. These figures also do not include standard pre-opening expenses, Royalties, advertising fees payable under the Franchise Agreement, or debt service, and assume that none of your expenses are offset by any sales generated during the start-up phase.
- Footprints Floors’ estimates are based on its experience and its current requirements for Footprints Floors franchises.
- Additional funds for the operation of your Footprints Floors Franchise will be required after the first three months of operation if sales produced by the Footprints Floors Franchise are not sufficient to produce positive cash flow.
13. Total Estimated Initial Investment: $70,130 to $97,580