Coverall franchise financing options

Overall costs for Coverall run anywhere from $15,544 to $48,846. See how the costs break down and what funding options might be right for your new venture into the franchise foray.

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 fees

Coverall franchise fees total around $26,910, which beats out the $37,000 average for the 200 largest franchises nationwide.

Franchise	Cost
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 fees

Equipment fees total $613 for Coverall. This is less than the $180,023 average for the top 200 franchises.

Equipment	Cost
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 costs

Coverall 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 costs

Initial insurance costs for Coverall run $2,341. This means you'll be paying less than the overall nationwide average of $6,311.

Insurance	Cost
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 costs

Uniforms, 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.

Personnel	Cost
Apparel	$0 to $100
Estimated total	$0 to $100

Other expenses

Miscellaneous expenses for Coverall total $1,957 — less than the nationwide average of $69,970.

Other	Cost
Miscellaneous pre-opening costs	$0 to $200
Four months' additional funds	$314 to $3,400
Estimated total	$314 to $3,600

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 2022.

How to finance

The 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:

1. Review the financial requirements on the Coverall franchising website.
2. Compare banks, online lenders and business credit cards and determine which financing type best suits your needs.
3. Once you settle on a financing type, compare lenders based on credit history requirements, amounts offered and interest rates.
4. 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.

Also check if Coverall 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

You 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.

How Coverall stacks up

Compare how Coverall holds up against two similarly sized franchises.

	RE/MAX	Coverall	Baskin-Robbins
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 line

Coverall 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.