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Comfort Keepers franchise financing options
Compare costs, fees and where to get financing for a Comfort Keepers.
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 Comfort Keepers franchise may result in higher or lower fees.
Franchise feesComfort 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 feesEquipment 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 feesReal 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 feesComfort 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 costsAdvertisement 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 costsComfort Keepers initial licenses and permits will set you back $3,700. This comes out to less than $18,770 — the overall nationwide average.
|Licenses and permits||Cost|
|Licensure||$0 to $7,400|
|Estimated total||$0 to $7,400|
Insurance costsInitial 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 feesComfort 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 costsUniforms, 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 expensesMiscellaneous 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|
How to financeSince the estimated total for Comfort Keepers is on the more costly side, we recommend following these steps to get fully financed:
- Go to the Comfort Keepers franchising website and review its financial requirements, including cash-on-hand requirements.
- Reach out to Comfort Keepers 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 $89,780 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 Comfort Keepers.
- 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.
Compare small business lendersYou may not need financing to cover the estimated $69,860. 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 Comfort Keepers stacks upCompare 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 lineComfort 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.
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