Editor's choice: OnDeck business lines of credit
- Business loan amounts up to $250k
- Repayment terms up to 18 months
- $100k in annual revenue required
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Our cost estimates are accurate as of 2021 from Franchise Direct and include opening fees and expenses only. The location you choose for your Clothes Mentor franchise may result in higher or lower fees.
|Initial franchise fee||$20,000 to $25,000|
|Estimated total||$20,000 to $25,000|
|Signs||$5,000 to $9,000|
|Fixtures and supplies||$30,000 to $40,000|
|Estimated total||$35,000 to $49,000|
|Leasehold improvements||$25,000 to $60,000|
|Estimated total||$25,000 to $60,000|
|Inventory||$50,000 to $70,000|
|Estimated total||$50,000 to $70,000|
|Grand opening advertising||$16,000 to $20,000|
|Local advertising||Minimum amount, when combined with cooperative advertising expenses, is 5% of total net sales.|
|Estimated total||$16,000 to $20,000|
|Legal and accounting||$0 to $4,000|
|Audit||Cost of audit plus 18% interest per year from due date.|
|Estimated total||$0 to $4,000|
|Miscellaneous pre-opening expenses||$14,000 to $20,000|
|Three months' additional funds||$20,000 to $25,000|
|Estimated total||$34,000 to $45,000|
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
|American Leak Detection||Clothes Mentor||Discovery Map|
|Average Franchise fees||$74,750||$22,500||$25,000|
|Average Equipment fees||$17,500||$42,000||$1,000|
|Average Real estate fees||NA||$42,500||NA|
|Average Training fees||NA||NA||NA|
|Average Inventory fees||NA||$60,000||NA|
|Average Marketing fees||NA||$18,000||NA|
|Average Licenses and permits fees||NA||NA||NA|
|Average Insurance fees||$1,875||NA||$375|
|Average Admin fees||$425||$2,000||NA|
|Average Personnel fees||NA||NA||NA|
|Average Other fees||NA||$39,500||$1,500|
A business line of credit is a useful tool. But as a startup, you may not qualify for the best interest rates with most lenders. Explore your options — and alternatives — for flexible funding as a new business.
The Restaurant Revitalization Grant offers grants of up to $10 million to make up for revenue lost during COVID-19.
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