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BrightStar Care franchise financing options
Compare costs, fees and where to get financing for a BrightStar Care.
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 BrightStar Care franchise may result in higher or lower fees.
Franchise fees
BrightStar Care franchise fees total around $25,000, which beats out the $37,000 average for the 200 largest franchises nationwide.| Franchise | Cost |
|---|---|
| Initial franchise fee | $50,000 for the first 200,000 u2013 250,000 in population in the protected territory. Plus, $100 per each additional 1,000 people (pro rata) in the protected territory over 250,000. to |
| Estimated total | $50,000 to $0 |
Equipment fees
Equipment fees total $3,250 for BrightStar Care. This is less than the $180,023 average for the top 200 franchises.| Equipment | Cost |
|---|---|
| Furnishings | $1,700 to $3,500 |
| Signage | $300 to $1,000 |
| Estimated total | $2,000 to $4,500 |
Real estate fees
Real estate will set you back $300 for BrightStar Care, thought it's less than the average of $788,376 for the top 200 franchises.| Real estate | Cost |
|---|---|
| Utility deposits | $100 to $500 |
| Estimated total | $100 to $500 |
Training fees
BrightStar Care initial training costs total $7,595, which comes in under the nationwide average of $9,788.| Training | Cost |
|---|---|
| Employee travel and living expenses associated with training | $4,990 to $10,200 |
| Estimated total | $4,990 to $10,200 |
Marketing costs
Advertisement and marketing costs total up to $500 for BrightStar Care, beating out the nationwide average of $9,938.| Marketing | Cost |
|---|---|
| Marketing materials, including brochures and business cards | $500 to $500 |
| Estimated total | $500 to $500 |
Licenses and permits costs
BrightStar Care initial licenses and permits will set you back $4,402. This comes out to less than $18,770 — the overall nationwide average.| Licenses and permits | Cost |
|---|---|
| Business licenses and other required license | $200 to $8,603 |
| Estimated total | $200 to $8,603 |
Administrative fees
BrightStar Care administrative fees total up to $3,250 — which comes in under the overall nationwide average of $6,761.| Admin | Cost |
|---|---|
| Legal fees | $1,500 to $5,000 |
| Estimated total | $1,500 to $5,000 |
Personnel costs
Uniforms, name tags and the like make up personnel costs, and for BrightStar Care it will run you $3,096. The nationwide average cost of personnel fees comes in at $22,818, which means you'll be paying less to outfit your employees.| Personnel | Cost |
|---|---|
| Director of nursing, hired in advance of opening to meet licensure requirements | $0 to $6,192 |
| Estimated total | $0 to $6,192 |
Other expenses
Miscellaneous expenses for BrightStar Care total $41,181 — less than the nationwide average of $69,970.| Other | Cost |
|---|---|
| Three months' additional operating funds | $28,559 to $53,803 |
| Estimated total | $28,559 to $53,803 |
How to finance
Since the estimated total for BrightStar Care is on the more costly side, we recommend following these steps to get fully financed:- Go to the BrightStar Care franchising website and review its financial requirements, including cash-on-hand requirements.
- Reach out to BrightStar Care 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 $88,574 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 BrightStar Care.- 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 lenders
You may not need financing to cover the estimated $87,849. 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.
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How BrightStar Care stacks up
Compare how BrightStar Care holds up against two similarly sized franchises.| Schlotzsky's | BrightStar Care | Senior Helpers | |
|---|---|---|---|
| Average Franchise fees | $30,000 | $25,000 | $49,500 |
| Average Equipment fees | $269,350 | $3,250 | $6,000 |
| Average Real estate fees | $342,250 | $300 | $4,500 |
| Average Training fees | $48,500 | $7,595 | NA |
| Average Inventory fees | $20,000 | NA | $1,100 |
| Average Marketing fees | $20,000 | $500 | $7,500 |
| Average Licenses and permits fees | $1,950 | $4,402 | $6,250 |
| Average Insurance fees | $11,500 | NA | $4,250 |
| Average Admin fees | $6,500 | $3,250 | $700 |
| Average Personnel fees | NA | $3,096 | $25,000 |
| Average Other fees | $1,500 | $41,181 | $23,000 |
Bottom line
BrightStar Care franchise costs run a total of $88,574. 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.More guides on Finder
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