Overall costs for Novus Glass run anywhere from $58,000 to $235,690. 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
Novus Glass franchise fees total around $10,500, which beats out the $37,000 average for the 200 largest franchises nationwide.
| Initial franchise fee |
$10,500 to $10,500 |
| Royalty fees |
6% of gross revenues from all products and services franchisees sell in their business, or the “minimum monthly royalty fees,” whichever is greater. |
| Branding noncompliance fee |
Up to $500 per month. |
| TAG network fees |
Franchisees must use any claims referral services the franchisor designates. The franchisor currently requires franchisees use the TAG Network, operated by an affiliate of the franchisor. There is an initial fee of $300 franchisees will pay when they start receiving referrals from the TAG Network. There are additional fees for referrals. The current maximum fees are $15 referral fee for booked windshield repair jobs and $25 referral fee on booked glass replacement jobs. |
| Estimated total |
$10,500 to $10,500 |
Equipment fees
Equipment fees total $67,745 for Novus Glass. This is less than the $180,023 average for the top 200 franchises.
| Furniture and fixtures |
$0 to $25,000 |
| Equipment packages |
$10,000 to $23,500 |
| Exterior building signage |
$5,000 to $10,000 |
| Vehicle |
$0 to $50,000 |
| Calibration package |
$0 to $11,990 |
| Estimated total |
$15,000 to $120,490 |
Real estate fees
Real estate will set you back $25,350 for Novus Glass, thought it's less than the average of $788,376 for the top 200 franchises.
| First month's rent |
$1,000 to $4,200 |
| Leasehold improvements and redecoration |
$2,500 to $40,000 |
| Security deposits |
$0 to $3,000 |
| Estimated total |
$3,500 to $47,200 |
Training fees
Novus Glass initial training costs total $20,000 — more than the nationwide average of $9,788.
| Initial training fee |
$14,000 to $14,000 |
| Salaries and expenses for two people to attend required training |
$3,000 to $9,000 |
| Other training |
$0 - $5,000 |
| Estimated total |
$17,000 to $23,000 |
Inventory costs
Initial inventory for Novus Glass shakes out to $2,500. This is less than the nationwide average of $53,119.
| Inventory and supplies |
$0 to $5,000 |
| Estimated total |
$0 to $5,000 |
Marketing costs
Advertisement and marketing costs total up to $5,500 for Novus Glass, beating out the nationwide average of $9,938.
| Franchise identification package |
$3,000 to $3,000 |
| Initial advertising campaign expenditures |
$0 to $5,000 |
| Marketing contributions |
2% of gross revenues from all products and services franchisees sell in their business. |
| Local advertising |
A minimum of 4% of gross revenues. |
| Estimated total |
$3,000 to $8,000 |
Insurance costs
Initial insurance costs for Novus Glass run $3,750. This means you'll be paying less than the overall nationwide average of $6,311.
| Insurance premiums |
$2,500 to $5,000 |
| Estimated total |
$2,500 to $5,000 |
Administrative fees
Novus Glass administrative fees total up to $1,500 — which comes in under the overall nationwide average of $6,761.
| Software package |
$1,500 to $1,500 |
| Website fees |
There is no regular maintenance fee but franchisees must pay the programming costs for custom changes to their web page. |
| Reimbursement of audit costs |
Dependent upon the costs to the franchisor in conducting an audit of the franchisee's business records. |
| Electronic data interchange |
Up to $2 per transaction. |
| Estimated total |
$1,500 to $1,500 |
Other expenses
Miscellaneous expenses for Novus Glass total $10,000 — less than the nationwide average of $69,970.
| Professional fees |
$0 to $3,000 |
| Three months' additional funds |
$5,000 to $12,000 |
| Estimated total |
$5,000 to $15,000 |
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 2019.
How to finance
The best way to finance Novus Glass 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 Novus Glass 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
How Novus Glass stacks up
Compare how Novus Glass holds up against two similarly sized franchises.
| Average Franchise fees |
NA |
$10,500 |
NA |
| Average Equipment fees |
NA |
$67,745 |
NA |
| Average Real estate fees |
NA |
$25,350 |
NA |
| Average Training fees |
NA |
$20,000 |
NA |
| Average Inventory fees |
NA |
$2,500 |
NA |
| Average Marketing fees |
NA |
$5,500 |
NA |
| Average Licenses and permits fees |
NA |
NA |
NA |
| Average Insurance fees |
NA |
$3,750 |
NA |
| Average Admin fees |
NA |
$1,500 |
NA |
| Average Personnel fees |
NA |
NA |
NA |
| Average Other fees |
NA |
$10,000 |
NA |
Bottom line
Novus Glass franchise costs run a total of $146,845. 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.
