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Engineering for Kids franchise financing options

Compare costs, fees and where to get financing for a Engineering for Kids.

Overall costs for Engineering for Kids run anywhere from $45,350 to $86,650. 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 2021 from Franchise Direct and include opening fees and expenses only. The location you choose for your Engineering for Kids franchise may result in higher or lower fees.

Franchise fees

Engineering for Kids franchise fees total around $16,750, which beats out the $37,000 average for the 200 largest franchises nationwide.
Franchise Cost
Initial franchise fee $11,250 to $22,250
Royalty fees The greater of: (a) the Applicable Royalty Rate(s) multiplied by the Gross Sales for the Period, or (b) a Minimum Royalty, which will be $200 per month beginning in the 7th month after the franchisee signs the Franchise Agreement.
Estimated total $11,250 to $22,250

Equipment fees

Equipment fees total $8,675 for Engineering for Kids. This is less than the $180,023 average for the top 200 franchises.
Equipment Cost
Furniture, fixtures and equipment $5,000 to $7,500
Office equipment and supplies $1,150 to $3,700
Estimated total $6,150 to $11,200

Real estate fees

Real estate will set you back $24,000 for Engineering for Kids, thought it's less than the average of $788,376 for the top 200 franchises.
Real estate Cost
Rent $7,500 to $15,000
Leasehold improvements $10,000 to $15,000
Utility deposits $0 to $500
Estimated total $17,500 to $30,500

Training fees

Engineering for Kids initial training costs total $1,200, which comes in under the nationwide average of $9,788.
Training Cost
Training expenses $900 to $1,500
Estimated total $900 to $1,500

Inventory costs

Initial inventory for Engineering for Kids shakes out to $7,000. This is less than the nationwide average of $53,119.
Inventory Cost
Opening inventory and supplies $5,000 to $9,000
Estimated total $5,000 to $9,000

Licenses and permits costs

Engineering for Kids initial licenses and permits will set you back $125. This comes out to less than $18,770 — the overall nationwide average.
Licenses and permits Cost
Business licenses $50 to $200
Estimated total $50 to $200

Other expenses

Miscellaneous expenses for Engineering for Kids total $8,250 — less than the nationwide average of $69,970.
Other Cost
Professional fees $500 to $2,000
Three months' additional funds $4,000 to $10,000
Estimated total $4,500 to $12,000
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 2021.

How to finance

Since the estimated total for Engineering for Kids is on the more costly side, we recommend following these steps to get fully financed:
  1. Go to the Engineering for Kids franchising website and review its financial requirements, including cash-on-hand requirements.
  2. Reach out to Engineering for Kids about in-house financing for franchisees.
  3. If in-house financing isn't available, look for online loans, bank loans and SBA loans to help meet the $66,000 estimated opening costs.
  4. Compare lenders based on amounts, interest rates and what types of personal and business credit history they accept.
  5. Once you settle on a lender, gather all required documents, including account statements and assets.
  6. 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 Engineering for Kids.
  • 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 Engineering for Kids 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 $45,350. 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.
Name Product Filter Values Min. Amount Max. Amount Requirements
Biz2Credit business loans
up to $6 million
up to $6 million
6+ months in business; $100,000+ monthly revenue; 500+ credit score
Get only the capital you need through secure, prescreened lenders with this highly rated company offering SBA, expansion, working capital and other loans.
OnDeck short-term loans
$5,000
$250,000
600+ personal credit score, 1 year in business, $100,000+ annual revenue, active business checking account
A leading online business lender offering flexible financing at competitive fixed rates.
Fora Financial business loans
$5,000
$500,000
6+ months in business, $12,000+ monthly revenue, no open bankruptcies
Get qualified for funding in minutes for up to $500,000 without affecting your credit score. Best for companies with at least six figures in annual revenue.
Lendio business loans
$500
$5,000,000
Operate business in US or Canada, have a business bank account, 560+ personal credit score
Submit one simple application to potentially get offers from a network of over 300 legit business lenders.
ROK Financial business loans
$10,000
$5,000,000
Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
A connection service for all types of businesses — even startups.
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How Engineering for Kids stacks up

Compare how Engineering for Kids holds up against two similarly sized franchises.
Camp Bow Wow Engineering for Kids Wayback Burgers
Average Franchise fees $41,250 $16,750 $35,000
Average Equipment fees $8,000 $8,675 $126,500
Average Real estate fees $510,500 $24,000 $149,750
Average Training fees NA $1,200 $5,500
Average Inventory fees NA $7,000 $13,250
Average Marketing fees NA NA $5,000
Average Licenses and permits fees NA $125 NA
Average Insurance fees NA NA $2,750
Average Admin fees NA NA NA
Average Personnel fees NA NA NA
Average Other fees $32,000 $8,250 NA

Bottom line

Engineering for Kids franchise costs run a total of $66,000. 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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