Overall costs for Caring Transitions run anywhere from $58,312 to $82,112. 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 Caring Transitions franchise may result in higher or lower fees.
Franchise fees
Caring Transitions franchise fees total around $44,900, which is more than the $37,000 average for the 200 largest franchises.
| Initial franchise fee |
$44,900 to $44,900 |
| Estimated total |
$44,900 to $44,900 |
Equipment fees
Equipment fees total $2,750 for Caring Transitions. This is less than the $180,023 average for the top 200 franchises.
| Furniture and equipment |
$500 to $1,000 |
| Computer system |
$1,000 to $3,000 |
| Estimated total |
$1,500 to $4,000 |
Real estate fees
Real estate will set you back $1,775 for Caring Transitions, thought it's less than the average of $788,376 for the top 200 franchises.
| Initial rent, telephone, bank and other deposits |
$350 to $2,000 |
| Monthly office rental payment |
$200 to $1,000 |
| Estimated total |
$550 to $3,000 |
Training fees
Caring Transitions initial training costs total $1,675, which comes in under the nationwide average of $9,788.
| Travel and living expenses while training |
$750 to $1,500 |
| Certified relocation transition specialist training and test |
$0 to $1,100 |
| Estimated total |
$750 to $2,600 |
Marketing costs
Advertisement and marketing costs total up to $3,500 for Caring Transitions, beating out the nationwide average of $9,938.
| Grand opening promotion |
$3,000 to $4,000 |
| Estimated total |
$3,000 to $4,000 |
Insurance costs
Initial insurance costs for Caring Transitions run $2,000. This means you'll be paying less than the overall nationwide average of $6,311.
| Insurance |
$1,000 to $3,000 |
| Estimated total |
$1,000 to $3,000 |
Administrative fees
Caring Transitions administrative fees total up to $112 — which comes in under the overall nationwide average of $6,761.
| Web hosting service |
$100 |
| Membership and association fees |
$500 |
| Estatesales.net |
$112 to $112 |
| Legal expenses |
Amount of expense advanced plus 18% interest. |
| Estimated total |
$112 to $112 |
Personnel costs
Uniforms, name tags and the like make up personnel costs, and for Caring Transitions it will run you $2,500. The nationwide average cost of personnel fees comes in at $22,818, which means you'll be paying less to outfit your employees.
| Sales employee |
$2,500 to $2,500 |
| Estimated total |
$2,500 to $2,500 |
Other expenses
Miscellaneous expenses for Caring Transitions total $11,000 — less than the nationwide average of $69,970.
| Six months' additional funds |
$4,000 to $18,000 |
| Estimated total |
$4,000 to $18,000 |
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 Caring Transitions is on the more costly side, we recommend following these steps to get fully financed:
- Go to the Caring Transitions franchising website and review its financial requirements, including cash-on-hand requirements.
- Reach out to Caring Transitions 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 $70,212 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 Caring Transitions.
- 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.
Also check if Caring Transitions 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 $58,312. 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.
How Caring Transitions stacks up
Compare how Caring Transitions holds up against two similarly sized franchises.
| Average Franchise fees |
$19,950 |
$44,900 |
$34,900 |
| Average Equipment fees |
$42,700 |
$2,750 |
$1,125 |
| Average Real estate fees |
$3,000 |
$1,775 |
NA |
| Average Training fees |
NA |
$1,675 |
$738 |
| Average Inventory fees |
NA |
NA |
NA |
| Average Marketing fees |
$3,750 |
$3,500 |
$575 |
| Average Licenses and permits fees |
$4,000 |
NA |
$300 |
| Average Insurance fees |
$3,250 |
$2,000 |
$625 |
| Average Admin fees |
$1,250 |
$112 |
$1,400 |
| Average Personnel fees |
NA |
$2,500 |
$250 |
| Average Other fees |
NA |
$11,000 |
$1,775 |
Bottom line
Caring Transitions franchise costs run a total of $70,212. 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.
