Overall costs for Comfort Keepers run anywhere from $69,860 to $109,700. See how the costs break down and what funding options might be right for your new venture into the franchise foray.
How COVID-19 affects franchising costs
Strict sanitation and employee protection measures during the coronavirus outbreak add to the typical costs you face when opening a new franchise. Paired with the unusually heavy amount of promotions that may be required by the franchise, you may not see as much in the way of profits starting out. For more information on what support is out there, read our guide to
loans for businesses affected by the coronavirus.
Estimated initial costs
Our cost estimates are accurate as of 2019 from
https://www.franchisedirect.com and include opening fees and expenses only. Your location may result in higher or lower fees.
Franchise fees
Comfort Keepers franchise fees total around $50,000, which is more than the $37,000 average for the 200 largest franchises.
| Combined deposit fee and initial franchise fee |
$50,000 to $50,000 |
| Estimated total |
$50,000 to $50,000 |
Equipment fees
Equipment fees total $5,750 for Comfort Keepers. This is less than the $180,023 average for the top 200 franchises.
| Furniture and equipment |
$3,500 to $8,000 |
| Estimated total |
$3,500 to $8,000 |
Real estate fees
Real estate will set you back $4,250 for Comfort Keepers, thought it's less than the average of $788,376 for the top 200 franchises.
| Business premises |
$3,400 to $5,100 |
| Estimated total |
$3,400 to $5,100 |
Training fees
Comfort Keepers initial training costs total $6,750, which comes in under the nationwide average of $9,788.
| Expenses related to initial training |
$3,000 to $6,000 |
| Caregiver training |
$1,500 to $3,000 |
| Estimated total |
$4,500 to $9,000 |
Marketing costs
Advertisement and marketing costs total up to $6,150 for Comfort Keepers, beating out the nationwide average of $9,938.
| Advertising, marketing and promotion |
$2,300 to $10,000 |
| Local advertising |
Minimum of $1,000 per month or 2% of Gross Revenue, whichever is greater. |
| Estimated total |
$2,300 to $10,000 |
Licenses and permits costs
Comfort Keepers initial licenses and permits will set you back $3,700. This comes out to less than $18,770 — the overall nationwide average.
| Licensure |
$0 to $7,400 |
| Estimated total |
$0 to $7,400 |
Insurance costs
Initial insurance costs for Comfort Keepers run $4,950. This means you'll be paying less than the overall nationwide average of $6,311.
| Insurance |
$3,100 to $6,800 |
| Estimated total |
$3,100 to $6,800 |
Administrative fees
Comfort Keepers administrative fees total up to $2,000 — which comes in under the overall nationwide average of $6,761.
| Organizational expenses, supplies and printing |
$650 to $1,150 |
| Telephone and utility deposits and fees |
$550 to $1,650 |
| Estimated total |
$1,200 to $2,800 |
Personnel costs
Uniforms, name tags and the like make up personnel costs, and for Comfort Keepers it will run you $480. The nationwide average cost of personnel fees comes in at $22,818, which means you'll be paying less to outfit your employees.
| Background screening |
$360 to $600 |
| Estimated total |
$360 to $600 |
Other expenses
Miscellaneous expenses for Comfort Keepers total $5,750 — less than the nationwide average of $69,970.
| Professional fees |
$1,500 to $10,000 |
| Estimated total |
$1,500 to $10,000 |
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 2019.
How to finance
The best way to finance Comfort Keepers comes down to your personal financial situation. What assets you have available will largely determine how much you need to borrow, and which option suits you best. Potential solutions include:
- Bank loan. Your personal credit plays a large role in getting a business term loan from a bank. Typically this type of funding is for larger amounts.
- Online loan. Credit requirements may be more flexible for an online loan than a bank loan, but amounts may max out at a lower amount — typically around $1 million.
- SBA loan. The good part about SBA loans is that they top out at $5 million, but your business has to meet a number of requirements.
- Credit card. Small costs that aren't fixed, such as stray inventory and supply purchases, may be better off on a business credit card. Just make sure you can pay it off quickly to avoid high APRs.
Also check if Comfort Keepers 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
How Comfort Keepers stacks up
Compare how Comfort Keepers holds up against two similarly sized franchises.
| Average Franchise fees |
NA |
$50,000 |
$21,863 |
| Average Equipment fees |
$2,000 |
$5,750 |
$37,500 |
| Average Real estate fees |
$500 |
$4,250 |
$700 |
| Average Training fees |
$35,975 |
$6,750 |
$975 |
| Average Inventory fees |
NA |
NA |
$2,000 |
| Average Marketing fees |
NA |
$6,150 |
$2,500 |
| Average Licenses and permits fees |
NA |
$3,700 |
$750 |
| Average Insurance fees |
NA |
$4,950 |
$2,500 |
| Average Admin fees |
$2,597 |
$2,000 |
NA |
| Average Personnel fees |
NA |
$480 |
NA |
| Average Other fees |
NA |
$5,750 |
$17,750 |
Bottom line
Comfort Keepers franchise costs run a total of $89,780. 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.
