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NrGize Lifestyle Cafe franchise financing options
Compare costs, fees and where to get financing for a NrGize Lifestyle Cafe.
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 NrGize Lifestyle Cafe franchise may result in higher or lower fees.
Franchise feesNrGize Lifestyle Cafe franchise fees total around $17,800, which beats out the $37,000 average for the 200 largest franchises nationwide.
|Initial franchise fee||$5,600 to $30,000|
|Estimated total||$5,600 to $30,000|
Real estate feesReal estate will set you back $19,250 for NrGize Lifestyle Cafe, thought it's less than the average of $788,376 for the top 200 franchises.
|Lease review fee||$0 to $2,500|
|First three months' rent and security deposit||$6,000 to $30,000|
|Real estate||Varies to|
|Estimated total||$6,000 to $32,500|
Inventory costsInitial inventory for NrGize Lifestyle Cafe shakes out to $3,750. This is less than the nationwide average of $53,119.
|Opening inventory, including food and paper||$2,500 to $5,000|
|Estimated total||$2,500 to $5,000|
Marketing costsAdvertisement and marketing costs total up to $3,500 for NrGize Lifestyle Cafe, beating out the nationwide average of $9,938.
|Grand opening marketing||$2,000 to $5,000|
|Estimated total||$2,000 to $5,000|
Insurance costsInitial insurance costs for NrGize Lifestyle Cafe run $3,000. This means you'll be paying less than the overall nationwide average of $6,311.
|Business insurance||$1,000 to $5,000|
|Estimated total||$1,000 to $5,000|
Administrative feesNrGize Lifestyle Cafe administrative fees total up to $725 — which comes in under the overall nationwide average of $6,761.
|PCI compliance costs||$150 to $1,300|
|Depository account||$3,000 (Must be replenished on a regular basis.)|
|Audit||Cost of audit plus interest at Default Rate on underpayments or the maximum rate permissible by law.|
|Estimated total||$150 to $1,300|
Other expensesMiscellaneous expenses for NrGize Lifestyle Cafe total $10,125 — less than the nationwide average of $69,970.
|Miscellaneous opening costs||$4,750 to $15,500|
|Estimated total||$4,750 to $15,500|
How to financeSince the estimated total for NrGize Lifestyle Cafe is on the more costly side, we recommend following these steps to get fully financed:
- Go to the NrGize Lifestyle Cafe franchising website and review its financial requirements, including cash-on-hand requirements.
- Reach out to NrGize Lifestyle Cafe 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 $58,150 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?Consider one of the following options for covering a portion of the costs to open a NrGize Lifestyle Cafe.
- 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.
Compare small business lendersYou may not need financing to cover the estimated $22,000. 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 NrGize Lifestyle Cafe stacks upCompare how NrGize Lifestyle Cafe holds up against two similarly sized franchises.
|Mainstream Boutique||NrGize Lifestyle Cafe||The Grout Doctor|
|Average Franchise fees||$29,000||$17,800||$14,000|
|Average Equipment fees||NA||NA||$250|
|Average Real estate fees||NA||$19,250||NA|
|Average Training fees||$1,000||NA||NA|
|Average Inventory fees||$22,500||$3,750||NA|
|Average Marketing fees||$1,750||$3,500||$7,500|
|Average Licenses and permits fees||NA||NA||NA|
|Average Insurance fees||NA||$3,000||NA|
|Average Admin fees||NA||$725||NA|
|Average Personnel fees||NA||NA||NA|
|Average Other fees||NA||$10,125||$1,500|
Bottom lineNrGize Lifestyle Cafe franchise costs run a total of $58,150. 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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