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 CMIT Solutions franchise may result in higher or lower fees.
|Initial fee and territory fee||$49,950 to $57,700|
|Royalty||6% of gross professional services (GPS) revenue, subject to a minimum royalty, which starts 12 months after franchisees complete the initial training program if they are a new franchisee.|
|Estimated total||$49,950 to $57,700|
|Initial business package, including laptop||$1,270 to $2,000|
|Estimated total||$1,270 to $2,000|
|Training fee and training expenses||$2,200 to $4,000|
|Estimated total||$2,200 to $4,000|
|Initial marketing package||$4,000 to $7,150|
|Three months' of marketing commitment||$7,500 to $7,500|
|Estimated total||$11,500 to $14,650|
|Licenses and permits||Cost|
|Business licenses and prepaid expenses||$550 to $1,500|
|Estimated total||$550 to $1,500|
|Technical staffing personnel||$9,000 to $15,000|
|Estimated total||$9,000 to $15,000|
|Three months' additional funds||$20,000 to $30,000|
|Estimated total||$20,000 to $30,000|
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
|Adventures in Advertising||CMIT Solutions||Kiddie Academy|
|Average Franchise fees||$30,000||$53,825||$135,000|
|Average Equipment fees||$3,100||$1,635||$379,750|
|Average Real estate fees||NA||NA||$62,500|
|Average Training fees||$3,000||$3,100||$6,500|
|Average Inventory fees||NA||NA||NA|
|Average Marketing fees||$8,750||$13,075||$35,000|
|Average Licenses and permits fees||NA||$1,025||$3,000|
|Average Insurance fees||NA||NA||$6,250|
|Average Admin fees||NA||NA||$32,500|
|Average Personnel fees||NA||$12,000||NA|
|Average Other fees||$13,500||$25,000||$87,500|
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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