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American Leak Detection franchise financing options
Compare costs, fees and where to get financing for a American Leak Detection.
Estimated initial costs
Our cost estimates are accurate as of 2021 from Franchise Direct and include opening fees and expenses only. The location you choose for your American Leak Detection franchise may result in higher or lower fees.
Franchise feesAmerican Leak Detection franchise fees total around $74,750, which is more than the $37,000 average for the 200 largest franchises.
|Initial franchise fee||$29,500 to $120,000|
|Royalty fees||The applicable percentage of adjusted gross volume for each reporting month.|
|Estimated total||$29,500 to $120,000|
Equipment feesEquipment fees total $17,500 for American Leak Detection. This is less than the $180,023 average for the top 200 franchises.
|Work vehicle||$0 to $35,000|
|Estimated total||$0 to $35,000|
Insurance costsInitial insurance costs for American Leak Detection run $1,875. This means you'll be paying less than the overall nationwide average of $6,311.
|Insurance||$750 to $3,000|
|Estimated total||$750 to $3,000|
Administrative feesAmerican Leak Detection administrative fees total up to $425 — which comes in under the overall nationwide average of $6,761.
|Shipping||$100 to $750|
|Estimated total||$100 to $750|
How to financeSince the estimated total for American Leak Detection is on the more costly side, we recommend following these steps to get fully financed:
- Go to the American Leak Detection franchising website and review its financial requirements, including cash-on-hand requirements.
- Reach out to American Leak Detection about in-house financing for franchisees.
- If in-house financing isn't available, look for online loans, bank loans and SBA loans to help meet the $94,550 estimated opening costs.
- Compare lenders based on amounts, interest rates and what types of personal and business credit history they accept.
- Once you settle on a lender, gather all required documents, including account statements and assets.
- Apply for financing online or in person as required by the lender.
What types of financing is available?Consider one of the following options for covering a portion of the costs to open a American Leak Detection.
- Online loan. For a turnaround that's faster than a bank, an online business loan could be the way to go. Credit requirements are often more flexible than those of traditional bank loans, too.
- Credit card. Using a business credit card allows you to spend up to your preapproved limit. This means if extra expenses pop up, you can likely cover them without having to take out another type of financing.
- Bank loan. If you have stronger credit — typically a score of 670 or higher — a traditional bank loan may get you a more favorable interest rate than a credit card or online loan.
- SBA loan. Qualifying for an SBA loan is easier than a traditional bank loan, but it typically comes with fees and higher interest rates.
Compare small business lendersYou may not need financing to cover the estimated $30,350. But if you need funds for other business ventures, select the loan amount, your time in business and revenue and your personal credit score to compare a selection of lenders.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
How American Leak Detection stacks upCompare how American Leak Detection holds up against two similarly sized franchises.
|Office Pride||American Leak Detection||Clothes Mentor|
|Average Franchise fees||$35,000||$74,750||$22,500|
|Average Equipment fees||$2,750||$17,500||$42,000|
|Average Real estate fees||$1,400||NA||$42,500|
|Average Training fees||$1,050||NA||NA|
|Average Inventory fees||NA||NA||$60,000|
|Average Marketing fees||NA||NA||$18,000|
|Average Licenses and permits fees||NA||NA||NA|
|Average Insurance fees||NA||$1,875||NA|
|Average Admin fees||NA||$425||$2,000|
|Average Personnel fees||NA||NA||NA|
|Average Other fees||$1,100||NA||$39,500|
Bottom lineAmerican Leak Detection franchise costs run a total of $94,550. Before you decide to become a franchisee, compare the total costs against industry averages. And to learn more about financing read our guide to franchise financing.
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