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Experimax franchise financing options

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

Overall costs for Experimax run anywhere from $191,150 to $269,650. 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 Experimax franchise may result in higher or lower fees.

Franchise fees

Experimax franchise fees total around $49,500, which is more than the $37,000 average for the 200 largest franchises.
Franchise Cost
Initial franchise fee $49,500 to $49,500
Estimated total $49,500 to $49,500

Equipment fees

Equipment fees total $82,400 for Experimax. This is less than the $180,023 average for the top 200 franchises.
Equipment Cost
Equipment package $69,900 to $94,900
Estimated total $69,900 to $94,900

Real estate fees

Real estate will set you back $1,750 for Experimax, thought it's less than the average of $788,376 for the top 200 franchises.
Real estate Cost
Real estate Varies to
Real estate service charge $0 to $3,500
Estimated total $0 to $3,500

Inventory costs

Initial inventory for Experimax shakes out to $19,000. This is less than the nationwide average of $53,119.
Inventory Cost
Other opening inventory $10,000 to $28,000
Estimated total $10,000 to $28,000

Marketing costs

Advertisement and marketing costs total up to $12,500 for Experimax, which is more than the nationwide average of $9,938.
Marketing Cost
Advertising $10,000 to $15,000
Marketing fee Currently, 1% of gross revenues or $500 per month, whichever is greater.
Estimated total $10,000 to $15,000

Insurance costs

Initial insurance costs for Experimax run $1,500. This means you'll be paying less than the overall nationwide average of $6,311.
Insurance Cost
Insurance $1,000 to $2,000
Estimated total $1,000 to $2,000

Administrative fees

Experimax administrative fees total up to $1,250 — which comes in under the overall nationwide average of $6,761.
Admin Cost
Opening supplies $750 to $1,750
Technology fee $120 or then current fee.
Audit Cost of financial review plus interest on underpayment.
Estimated total $750 to $1,750

Other expenses

Miscellaneous expenses for Experimax total $62,500 — less than the nationwide average of $69,970.
Other Cost
Up to six months' additional funds $50,000 to $75,000
Estimated total $50,000 to $75,000
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 Experimax is on the more costly side, we recommend following these steps to get fully financed:
  1. Go to the Experimax franchising website and review its financial requirements, including cash-on-hand requirements.
  2. Reach out to Experimax 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 $230,400 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?

You have several options when it comes to financing a Experimax — even if the cost is on the heavier side. What assets you have available will largely determine how much you need to borrow, and which option suits you best.
  • Online loan. A number of online business lenders offer amounts up to $1 million, with some extending up to $5 million.
  • Bank loan. Your personal credit will typically need to at least be good — 670 or higher — when it comes to getting a bank loan large enough to cover a significant portion of Experimax opening costs.
  • SBA loan. While your personal credit score doesn't need to be as good to qualify for an SBA loan, they usually cost more than standard term loans from banks or online lenders.
Also check if Experimax 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 $191,150. 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
OnDeck small business loans
$5,000
$250,000
600+ personal credit score, 1 year in business, $100,000+ annual revenue
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.
LendingClub personal loans for business
$1,000
$40,000
US citizen or permanent resident, verifiable bank account, steady source of income, ages 18+.
Get prequalified for a personal loan up to $40,000 to help you grow your business. Great for new business owners with at least fair credit.
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How Experimax stacks up

Compare how Experimax holds up against two similarly sized franchises.
Wyndham Hotels and Resorts Experimax My Salon Suite/Salon Plaza
Average Franchise fees NA $49,500 $50,000
Average Equipment fees $4,834,803 $82,400 $219,595
Average Real estate fees NA $1,750 NA
Average Training fees $4,193 NA $2,000
Average Inventory fees $874,770 $19,000 NA
Average Marketing fees $31,000 $12,500 NA
Average Licenses and permits fees $201,000 NA NA
Average Insurance fees $45,000 $1,500 NA
Average Admin fees NA $1,250 NA
Average Personnel fees $752,199 NA NA
Average Other fees $904,738 $62,500 $22,000

Bottom line

Experimax franchise costs run a total of $230,400. 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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