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Hood Guyz franchise financing options

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

Overall costs for Hood Guyz run anywhere from $45,500 to $55,500. 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 Hood Guyz franchise may result in higher or lower fees.

Franchise fees

Hood Guyz franchise fees total around $20,750, which beats out the $37,000 average for the 200 largest franchises nationwide.
Franchise Cost
Initial franchise fee $18,500 to $23,000
Estimated total $18,500 to $23,000

Equipment fees

Equipment fees total $9,500 for Hood Guyz. This is less than the $180,023 average for the top 200 franchises.
Equipment Cost
Equipment package $9,500 to $9,500
Estimated total $9,500 to $9,500

Training fees

Hood Guyz initial training costs total $2,750, which comes in under the nationwide average of $9,788.
Training Cost
Training expenses $2,500 to $3,000
Estimated total $2,500 to $3,000

Other expenses

Miscellaneous expenses for Hood Guyz total $17,500 — less than the nationwide average of $69,970.
Other Cost
Three months' additional funds $15,000 to $20,000
Estimated total $15,000 to $20,000
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 Hood Guyz is on the more costly side, we recommend following these steps to get fully financed:
  1. Go to the Hood Guyz franchising website and review its financial requirements, including cash-on-hand requirements.
  2. Reach out to Hood Guyz 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 $50,500 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 Hood Guyz.
  • 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 Hood Guyz 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 $45,500. 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 short-term 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.
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.
National Funding business loans
$5,000
$500,000
Be in business at least one year and make at least $150,000 in annual sales. Other loan types have additional requirements.
Working capital loans and equipment financing, some high-risk industries may be eligible.
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How Hood Guyz stacks up

Compare how Hood Guyz holds up against two similarly sized franchises.
Corporate Caterers Hood Guyz Kono Pizza
Average Franchise fees $49,500 $20,750 $25,000
Average Equipment fees $27,500 $9,500 $10,000
Average Real estate fees $5,650 NA $1,000
Average Training fees NA $2,750 NA
Average Inventory fees $13,250 NA NA
Average Marketing fees NA NA NA
Average Licenses and permits fees NA NA $2,000
Average Insurance fees $1,500 NA $2,000
Average Admin fees NA NA NA
Average Personnel fees NA NA $500
Average Other fees $3,250 $17,500 $12,850

Bottom line

Hood Guyz franchise costs run a total of $50,500. 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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