As you begin thinking about owning a franchise, there are many considerations to take into account. One of the biggest is funding. If you’re interested in an insurance restoration franchise that is resistant to economic downturns in the construction industry, we have an opportunity waiting for you.
Insurance restoration is an industry that is always busy. When clients’ properties are damaged by any of several causes, the costs of the repairs are usually covered by property or business insurance. Clients call you to provide end-to-end restoration services and to be their point of contact in navigating the insurance maze. You are not only their mitigation expert and general contractor, but also the one who helps them get their claims process completed properly.
As you compare disaster restoration franchises to invest in, you want to know the costs of starting the business. In the interests of transparency, here are some numbers from our franchise disclosure document that outline the basic costs of starting a franchise with us. It is important to note that the costs vary significantly depending on the amount of infrastructure you have in place.
One cost that is the same for all franchisees, however, is the franchise fee. That is $45,000.
A new business set can be between $13,500 and $43,500. This would include the equipment necessary to run the business and to do the work that your clients require to clean up a variety of types of disaster.
Supplemental territory fees can be between $0 and $5,000, and leasehold improvements, site and lease fees can be between $3,500 and $27,500. Disaster recovery vehicle and vehicle fees can be between $0 and $45,000.
The costs for inventory, insurance, uniforms, and miscellaneous expenses can run between $16,600 and $32,370, and training and travel for training can be between $7,300 and $15,150. The costs for marketing and working capital range between $23,000 and $42,500.
So the total costs of opening an insurance restoration franchise can be between $116,075 and $257,375. We offer some funding options that can help you to get your business up and running.
You can apply for approval to purchase a franchise, and the information that we share with you as you move through the discovery and buying process will be legally binding. To share that information, you’ll have to have a completed and approved application on file. You can access the application on our website. We have a franchise development executive who can help you complete the form.