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Coverall franchise financing options
Compare costs, fees and where to get financing for a Coverall.
Estimated initial costs
Our cost estimates are accurate as of 2022 from Franchise Direct and include opening fees and expenses only. The location you choose for your Coverall franchise may result in higher or lower fees.
Franchise feesCoverall franchise fees total around $26,910, which beats out the $37,000 average for the 200 largest franchises nationwide.
|Initial franchise fee||$13,500 to $40,320|
|Royalty||5% of Gross Dollar Volume.|
|Franchise application fee||$85|
|Estimated total||$13,500 to $40,320|
Equipment feesEquipment fees total $613 for Coverall. This is less than the $180,023 average for the top 200 franchises.
|Initial equipment and supply package||u00a0$920 - $2,275|
|Office supplies and equipment||$0 to $100|
|Vehicle||$225 to $900|
|Estimated total||$225 to $1,000|
Licenses and permits costsCoverall initial licenses and permits will set you back $325. This comes out to less than $18,770 — the overall nationwide average.
|Licenses and permits||Cost|
|Corporate filings, banking, business license and permits||$175 to $475|
|Nonconviction janitorial fidelity bond or alternative nonconviction janitorial fidelity bond||$5.95 or $11.45|
|Estimated total||$175 to $475|
Insurance costsInitial insurance costs for Coverall run $2,341. This means you'll be paying less than the overall nationwide average of $6,311.
|General liability insurance, monthly||$116 to $351|
|Franchise owner on the job accident insurance||2.4% of monthly Gross Dollar Volume for the first shareholder or member owner, plus $15.00 per month for each additional shareholder or member owner to|
|Automobile insurance||$1,200 to $3,000|
|Workersu2019 compensation insurance||$11.88 u2013 $22.52 per $100 of payroll dollars incurred by the franchised business to|
|Estimated total||$1,330 to $3,351|
Personnel costsUniforms, name tags and the like make up personnel costs, and for Coverall it will run you $50. The nationwide average cost of personnel fees comes in at $22,818, which means you'll be paying less to outfit your employees.
|Apparel||$0 to $100|
|Estimated total||$0 to $100|
Other expensesMiscellaneous expenses for Coverall total $1,957 — less than the nationwide average of $69,970.
|Miscellaneous pre-opening costs||$0 to $200|
|Four months' additional funds||$314 to $3,400|
|Estimated total||$314 to $3,600|
How to financeThe average cost to open one of the 200 biggest franchises in the US — $334,892 — is well over the estimated total initial costs for $32,195. Securing funds will likely be easier at lower amounts, just follow these steps:
- Review the financial requirements on the Coverall franchising website.
- Compare banks, online lenders and business credit cards and determine which financing type best suits your needs.
- Once you settle on a financing type, compare lenders based on credit history requirements, amounts offered and interest rates.
- Gather all required documents and apply online or in person.
What types of financing is available?Consider one of the following options for covering a portion of the costs to open a Coverall.
- 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 $15,544. 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 Coverall stacks upCompare how Coverall holds up against two similarly sized franchises.
|Average Franchise fees||$17,500||$26,910||$18,750|
|Average Equipment fees||$28,250||$613||$140,143|
|Average Real estate fees||NA||NA||$113,300|
|Average Training fees||$4,000||NA||$5,000|
|Average Inventory fees||$2,250||NA||$6,500|
|Average Marketing fees||NA||NA||$4,000|
|Average Licenses and permits fees||NA||$325||NA|
|Average Insurance fees||NA||$2,341||$5,900|
|Average Admin fees||$36,750||NA||NA|
|Average Personnel fees||NA||$50||$600|
|Average Other fees||$41,500||$1,957||$45,000|
Bottom lineCoverall franchise costs run a total of $32,195. 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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