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Chem-Dry franchise financing options
Compare costs, fees and where to get financing for a Chem-Dry.
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 Chem-Dry franchise may result in higher or lower fees.
Franchise feesChem-Dry franchise fees total around $23,500, which beats out the $37,000 average for the 200 largest franchises nationwide.
|Initial license fee||$23,500 to $23,500|
|Estimated total||$23,500 to $23,500|
Equipment feesEquipment fees total $65,145 for Chem-Dry. This is less than the $180,023 average for the top 200 franchises.
|New business set||$32,995 to $59,495|
|Cargo van||$0 to $35,000|
|Computer system||$800 to $2,000|
|Estimated total||$33,795 to $96,495|
Real estate feesReal estate will set you back $2,000 for Chem-Dry, thought it's less than the average of $788,376 for the top 200 franchises.
|Three months' rent||$0 to $4,000|
|Estimated total||$0 to $4,000|
Training feesChem-Dry initial training costs total $2,125, which comes in under the nationwide average of $9,788.
|Training and convention attendance expenses||$1,250 to $3,000|
|Training||$500 - $1,800|
|Estimated total||$1,250 to $3,000|
Marketing costsAdvertisement and marketing costs total up to $7,500 for Chem-Dry, beating out the nationwide average of $9,938.
|Three months' advertising||$5,000 to $10,000|
|Estimated total||$5,000 to $10,000|
Licenses and permits costsChem-Dry initial licenses and permits will set you back $2,200. This comes out to less than $18,770 — the overall nationwide average.
|Licenses and permits||Cost|
|Telephone and business license||$400 to $4,000|
|Estimated total||$400 to $4,000|
Insurance costsInitial insurance costs for Chem-Dry run $3,300. This means you'll be paying less than the overall nationwide average of $6,311.
|Insurance||$600 to $6,000|
|Estimated total||$600 to $6,000|
How to financeSince the estimated total for Chem-Dry is on the more costly side, we recommend following these steps to get fully financed:
- Go to the Chem-Dry franchising website and review its financial requirements, including cash-on-hand requirements.
- Reach out to Chem-Dry 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 $105,770 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?You have several options when it comes to financing a Chem-Dry — 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 Chem-Dry 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.
Compare small business lendersYou may not need financing to cover the estimated $64,545. 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 Chem-Dry stacks upCompare how Chem-Dry holds up against two similarly sized franchises.
|Average Franchise fees||$50,000||$23,500||NA|
|Average Equipment fees||$246,060||$65,145||$371,000|
|Average Real estate fees||$571,013||$2,000||$919,875|
|Average Training fees||$35,000||$2,125||NA|
|Average Inventory fees||$38,000||NA||$22,000|
|Average Marketing fees||$10,000||$7,500||NA|
|Average Licenses and permits fees||$11,610||$2,200||$31,750|
|Average Insurance fees||$4,148||$3,300||NA|
|Average Admin fees||$5,268||NA||NA|
|Average Personnel fees||NA||NA||$31,250|
|Average Other fees||$76,645||NA||$66,500|
Bottom lineChem-Dry franchise costs run a total of $105,770. 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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