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Experimax franchise financing options
Compare costs, fees and where to get financing for a Experimax.
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 feesExperimax franchise fees total around $49,500, which is more than the $37,000 average for the 200 largest franchises.
|Initial franchise fee||$49,500 to $49,500|
|Estimated total||$49,500 to $49,500|
Equipment feesEquipment fees total $82,400 for Experimax. This is less than the $180,023 average for the top 200 franchises.
|Equipment package||$69,900 to $94,900|
|Estimated total||$69,900 to $94,900|
Real estate feesReal 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||Varies to|
|Real estate service charge||$0 to $3,500|
|Estimated total||$0 to $3,500|
Inventory costsInitial inventory for Experimax shakes out to $19,000. This is less than the nationwide average of $53,119.
|Other opening inventory||$10,000 to $28,000|
|Estimated total||$10,000 to $28,000|
Marketing costsAdvertisement and marketing costs total up to $12,500 for Experimax, which is more than the nationwide average of $9,938.
|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 costsInitial insurance costs for Experimax run $1,500. This means you'll be paying less than the overall nationwide average of $6,311.
|Insurance||$1,000 to $2,000|
|Estimated total||$1,000 to $2,000|
Administrative feesExperimax administrative fees total up to $1,250 — which comes in under the overall nationwide average of $6,761.
|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 expensesMiscellaneous expenses for Experimax total $62,500 — less than the nationwide average of $69,970.
|Up to six months' additional funds||$50,000 to $75,000|
|Estimated total||$50,000 to $75,000|
How to financeSince the estimated total for Experimax is on the more costly side, we recommend following these steps to get fully financed:
- Go to the Experimax franchising website and review its financial requirements, including cash-on-hand requirements.
- Reach out to Experimax about in-house financing for franchisees.
- 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.
- Compare lenders based on amounts, interest rates and what types of personal and business credit history they accept.
- Once you settle on a lender, gather all required documents, including account statements and assets.
- 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.
Compare small business lendersYou 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.
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 Experimax stacks upCompare 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 lineExperimax 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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