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Five Star Painting franchise financing options
Compare costs, fees and where to get financing for a Five Star Painting.
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 Five Star Painting franchise may result in higher or lower fees.
Franchise feesFive Star Painting franchise fees total around $45,000, which is more than the $37,000 average for the 200 largest franchises.
|Initial franchise fee||$45,000 to $45,000 + $200 per 1,000 additional population over minimum|
|Estimated total||$45,000 to $45,000|
Equipment feesEquipment fees total $27,725 for Five Star Painting. This is less than the $180,023 average for the top 200 franchises.
|Vehicle||$2,000 to $39,500|
|Equipment, supplies and inventory||$2,400 to $11,550|
|Estimated total||$4,400 to $51,050|
Real estate feesReal estate will set you back $3,000 for Five Star Painting, thought it's less than the average of $788,376 for the top 200 franchises.
|Real estate||$0 to $6,000|
|Estimated total||$0 to $6,000|
Training feesFive Star Painting initial training costs total $2,500, which comes in under the nationwide average of $9,788.
|Training, travel, lodging and food||$1,000 to $4,000|
|Estimated total||$1,000 to $4,000|
Marketing costsAdvertisement and marketing costs total up to $32,500 for Five Star Painting, which is more than the nationwide average of $9,938.
|Advertising, promotional and local marketing spending for marketing startup phasee||$15,000 to $50,000|
|Estimated total||$15,000 to $50,000|
Licenses and permits costsFive Star Painting initial licenses and permits will set you back $875. This comes out to less than $18,770 — the overall nationwide average.
|Licenses and permits||Cost|
|Deposits, permits and licenses||$0 to $1,750|
|License fee||6% of gross sales except for roll-in sales. In addition, minimum license fees apply.|
|Estimated total||$0 to $1,750|
Insurance costsInitial insurance costs for Five Star Painting run $5,000. This means you'll be paying less than the overall nationwide average of $6,311.
|Insurance||$1,000 to $9,000|
|Estimated total||$1,000 to $9,000|
Administrative feesFive Star Painting administrative fees total up to $1,850 — which comes in under the overall nationwide average of $6,761.
|Software and other fees||$1,250 to $1,250|
|Call center fee||$600 to $600|
|Audit||Cost of audit plus expenses, plus any amount owed as shown by the audit, plus interest and late fees.|
|Estimated total||$1,850 to $1,850|
Other expensesMiscellaneous expenses for Five Star Painting total $11,025 — less than the nationwide average of $69,970.
|Professional fees||$250 to $5,000|
|Six months' additional funds||$6,200 to $10,600|
|Estimated total||$6,450 to $15,600|
How to financeSince the estimated total for Five Star Painting is on the more costly side, we recommend following these steps to get fully financed:
- Go to the Five Star Painting franchising website and review its financial requirements, including cash-on-hand requirements.
- Reach out to Five Star Painting 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 $129,475 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 Five Star Painting — 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 Five Star Painting 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 $74,700. 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 Five Star Painting stacks upCompare how Five Star Painting holds up against two similarly sized franchises.
|GoliathTech||Five Star Painting||Spherion|
|Average Franchise fees||$38,000||$45,000||$35,000|
|Average Equipment fees||$68,150||$27,725||$41,660|
|Average Real estate fees||$1,550||$3,000||$7,193|
|Average Training fees||$4,000||$2,500||$6,563|
|Average Inventory fees||NA||NA||$780|
|Average Marketing fees||$750||$32,500||$16,250|
|Average Licenses and permits fees||NA||$875||$630|
|Average Insurance fees||NA||$5,000||$4,975|
|Average Admin fees||NA||$1,850||NA|
|Average Personnel fees||NA||NA||NA|
|Average Other fees||$12,000||$11,025||$113,875|
Bottom lineFive Star Painting franchise costs run a total of $129,475. 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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