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Miracle Method Surface Refinishing franchise financing options

Compare costs, fees and where to get financing for a Miracle Method Surface Refinishing.

Overall costs for Miracle Method Surface Refinishing run anywhere from $73,500 to $118,041. 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 Miracle Method Surface Refinishing franchise may result in higher or lower fees.

Franchise fees

Miracle Method Surface Refinishing franchise fees total around $51,500, which is more than the $37,000 average for the 200 largest franchises.
Franchise Cost
Initial franchise fee $45,000 to $58,000
Royalty The greater of 5.5% of gross revenues in the territory or the minimum royalty based on the size of the territory.
Estimated total $45,000 to $58,000

Equipment fees

Equipment fees total $11,122 for Miracle Method Surface Refinishing. This is less than the $180,023 average for the top 200 franchises.
Equipment Cost
Computer hardware and software $1,000 to $2,000
Vehicle $4,364 to $8,729
Office equipment and supplies $1,150 to $5,000
Estimated total $6,514 to $15,729

Training fees

Miracle Method Surface Refinishing initial training costs total $9,040, which comes in under the nationwide average of $9,788.
Training Cost
Training expenses $4,310 to $13,770
Estimated total $4,310 to $13,770

Marketing costs

Advertisement and marketing costs total up to $12,500 for Miracle Method Surface Refinishing, which is more than the nationwide average of $9,938.
Marketing Cost
Initial marketing program $10,000 to $15,000
Estimated total $10,000 to $15,000

Licenses and permits costs

Miracle Method Surface Refinishing initial licenses and permits will set you back $2,750. This comes out to less than $18,770 — the overall nationwide average.
Licenses and permits Cost
Business licenses and permits $2,500 to $3,000
Estimated total $2,500 to $3,000

Other expenses

Miscellaneous expenses for Miracle Method Surface Refinishing total $8,859 — less than the nationwide average of $69,970.
Other Cost
Professional fees $1,000 to $2,000
Three months' additional funds $4,176 to $10,542
Estimated total $5,176 to $12,542
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 Miracle Method Surface Refinishing is on the more costly side, we recommend following these steps to get fully financed:
  1. Go to the Miracle Method Surface Refinishing franchising website and review its financial requirements, including cash-on-hand requirements.
  2. Reach out to Miracle Method Surface Refinishing 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 $95,771 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 Miracle Method Surface Refinishing.
  • 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 Miracle Method Surface Refinishing 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 $73,500. 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
Biz2Credit business loans
$25,000
$250,000
6+ months in business; $150,000+ 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 Miracle Method Surface Refinishing stacks up

Compare how Miracle Method Surface Refinishing holds up against two similarly sized franchises.
Fresh Coat Miracle Method Surface Refinishing Skyhawks Sports Camps
Average Franchise fees $44,900 $51,500 $22,750
Average Equipment fees $3,500 $11,122 $900
Average Real estate fees $500 NA $375
Average Training fees $1,000 $9,040 $1,500
Average Inventory fees NA NA NA
Average Marketing fees NA $12,500 NA
Average Licenses and permits fees NA $2,750 $1,500
Average Insurance fees $4,000 NA $2,000
Average Admin fees NA NA NA
Average Personnel fees NA NA NA
Average Other fees NA $8,859 $1,500

Bottom line

Miracle Method Surface Refinishing franchise costs run a total of $95,771. 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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