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Miracle Method Surface Refinishing costs and fees

The average cost to open one of the 200 biggest franchises in the US is $1,202,874 — see how Miracle Method Surface Refinishing compares.

Updated

Fact checked
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.

How COVID-19 affects franchising costs

Strict sanitation and employee protection measures during the coronavirus outbreak add to the typical costs you face when opening a new franchise. Paired with the unusually heavy amount of promotions that may be required by the franchise, you may not see as much in the way of profits starting out. For more information on what support is out there, read our guide to loans for businesses affected by the coronavirus.

Estimated initial costs

Our cost estimates are accurate as of 2019 from https://www.franchisedirect.com and include opening fees and expenses only. Your location 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 2019.

How to finance

The best way to finance Miracle Method Surface Refinishing comes down to your personal financial situation. What assets you have available will largely determine how much you need to borrow, and which option suits you best. Potential solutions include:
  • Bank loan. Your personal credit plays a large role in getting a business term loan from a bank. Typically this type of funding is for larger amounts.
  • Online loan. Credit requirements may be more flexible for an online loan than a bank loan, but amounts may max out at a lower amount — typically around $1 million.
  • SBA loan. The good part about SBA loans is that they top out at $5 million, but your business has to meet a number of requirements.
  • Credit card. Small costs that aren't fixed, such as stray inventory and supply purchases, may be better off on a business credit card. Just make sure you can pay it off quickly to avoid high APRs.
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

Data indicated here is updated regularly
Name Product Filter Values Min. Amount Max. Amount Requirements
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.
Fora Financial business loans
$5,000
$500,000
1+ year in business, $250,000+ annual revenue, no open bankruptcies
Get qualified for funding in minutes for up to $500,000 without affecting your credit score. Great for SBA loan applicants.
First Down Funding business loans
$5,000
$300,000
At least 2 years in business, an annual revenue of $300,000+, and a minimum credit score of 400
Alternative financing up to $300K with highly competitive rates.
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.
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.
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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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