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.
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
Coverall 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 fees
Equipment 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 costs
Coverall initial licenses and permits will set you back $325. This comes out to less than $18,770 — the overall nationwide average.
| 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.
| 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.
| 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.
| 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 2019.
How to finance
The best way to finance Coverall 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 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
How Coverall stacks up
Compare 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 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.
