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California Closets franchise financing options

Compare costs, fees and where to get financing for a California Closets.

Editor's choice: OnDeck business lines of credit

  • Business or practice ownership not required
  • No hard annual revenue or time-in-business criteria
  • Multiple loans OK
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Overall costs for California Closets run anywhere from $79,500 to $258,500. See how the costs break down and what funding options might be right for your new venture into the franchise foray.

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 California Closets franchise may result in higher or lower fees.

Franchise fees

California Closets franchise fees total around $55,000, which is more than the $37,000 average for the 200 largest franchises.
Franchise Cost
Initial franchise fee $40,000 to $70,000
Estimated total $40,000 to $70,000

Real estate fees

Real estate will set you back $63,000 for California Closets, thought it's less than the average of $788,376 for the top 200 franchises.
Real estate Cost
Rent $6,000 to $120,000
Estimated total $6,000 to $120,000

Training fees

California Closets initial training costs total $12,500 — more than the nationwide average of $9,788.
Training Cost
Initial training fee $12,500 to $12,500
Estimated total $12,500 to $12,500

Insurance costs

Initial insurance costs for California Closets run $13,000. This means you'll be paying more than the overall nationwide average of $6,311.
Insurance Cost
Insurance $10,000 to $16,000
Estimated total $10,000 to $16,000

Administrative fees

California Closets administrative fees total up to $5,500 — which comes in under the overall nationwide average of $6,761.
Admin Cost
Legal and accounting $1,000 to $10,000
Estimated total $1,000 to $10,000

Other expenses

Miscellaneous expenses for California Closets total $20,000 — less than the nationwide average of $69,970.
Other Cost
Three months' additional funds $10,000 to $30,000
Estimated total $10,000 to $30,000
All costs were found using the 200 largest franchises nationwide using Franchise Direct's list of more than 300 franchises, and are accurate as of 2021.

How to finance

Since the estimated total for California Closets is on the more costly side, we recommend following these steps to get fully financed:
  1. Go to the California Closets franchising website and review its financial requirements, including cash-on-hand requirements.
  2. Reach out to California Closets about in-house financing for franchisees.
  3. If in-house financing isn't available, look for online loans, bank loans and SBA loans to help meet the $169,000 estimated opening costs.
  4. Compare lenders based on amounts, interest rates and what types of personal and business credit history they accept.
  5. Once you settle on a lender, gather all required documents, including account statements and assets.
  6. Apply for financing online or in person as required by the lender.

What types of financing is available?

You have several options when it comes to financing a California Closets — even if the cost is on the heavier side. What assets you have available will largely determine how much you need to borrow, and which option suits you best.
  • Online loan. A number of online business lenders offer amounts up to $1 million, with some extending up to $5 million.
  • Bank loan. Your personal credit will typically need to at least be good — 670 or higher — when it comes to getting a bank loan large enough to cover a significant portion of California Closets opening costs.
  • SBA loan. While your personal credit score doesn't need to be as good to qualify for an SBA loan, they usually cost more than standard term loans from banks or online lenders.
Also check if California Closets franchise financing is available. You may be able to get some of the costs covered for less than you would with other traditional funding options.

Compare small business lenders

You may not need financing to cover the estimated $79,500. 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.
Name Product Filter Values Min. Amount Max. Amount Requirements
OnDeck small business loans
$5,000
$250,000
600+ personal credit score, 1 year in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
Fora Financial business loans
$5,000
$500,000
6+ months in business, $12,000+ monthly revenue, no open bankruptcies
Get qualified for funding in minutes for up to $500,000 without affecting your credit score. Best for companies with at least six figures in annual revenue.
First Union Lending business loans
$5,000
$5,000,000
450+ credit score, 1+ year in business, $25,000+ monthly revenue, no open bankruptcies
Unsecured funding and more for all credit types.
Lendio business loans
$500
$5,000,000
Operate business in US or Canada, have a business bank account, 560+ personal credit score
Submit one simple application to potentially get offers from a network of over 300 legit business lenders.
ROK Financial business loans
$10,000
$5,000,000
Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
A connection service for all types of businesses — even startups.
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How California Closets stacks up

Compare how California Closets holds up against two similarly sized franchises.
Ace Handyman Services California Closets College Hunks Hauling Junk/College Hunks Moving
Average Franchise fees $57,500 $55,000 $50,000
Average Equipment fees $4,300 NA $4,000
Average Real estate fees $1,225 $63,000 $5,400
Average Training fees NA $12,500 $3,250
Average Inventory fees NA NA NA
Average Marketing fees NA NA NA
Average Licenses and permits fees $1,115 NA $1,750
Average Insurance fees $2,150 $13,000 $2,750
Average Admin fees NA $5,500 NA
Average Personnel fees NA NA NA
Average Other fees $25,000 $20,000 $55,750

Bottom line

California Closets franchise costs run a total of $169,000. 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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