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Rainbow International Restoration franchise financing options
Compare costs, fees and where to get financing for a Rainbow International Restoration.
Estimated initial costs
Our cost estimates are accurate as of 2022 from Franchise Direct and include opening fees and expenses only. The location you choose for your Rainbow International Restoration franchise may result in higher or lower fees.
Franchise feesRainbow International Restoration franchise fees total around $40,000, which is more than the $37,000 average for the 200 largest franchises.
|Initial franchise fee||$40,000 to $40,000 + $400 per 1,000 additional population over minimum|
|Estimated total||$40,000 to $40,000|
Equipment feesEquipment fees total $92,000 for Rainbow International Restoration. This is less than the $180,023 average for the top 200 franchises.
|Vehicle||$2,000 to $34,000 (van) - $40,000 (box truck)|
|Equipment, supplies and inventory||$70,000 to $78,000|
|Estimated total||$72,000 to $112,000|
Training feesRainbow International Restoration initial training costs total $8,300, which comes in under the nationwide average of $9,788.
|Training, travel, lodging and food||$6,400 (All 4 trainings- WRT, Business, ASD, FRST) to $10,200|
|Estimated total||$6,400 to $10,200|
Marketing costsAdvertisement and marketing costs total up to $20,000 for Rainbow International Restoration, which is more than the nationwide average of $9,938.
|Advertising, promotional and local marketing spending for marketing startup phase||$15,000 to $25,000|
|Estimated total||$15,000 to $25,000|
Licenses and permits costsRainbow International Restoration initial licenses and permits will set you back $2,638. This comes out to less than $18,770 — the overall nationwide average.
|Licenses and permits||Cost|
|Deposits, permits and licenses||$1,675 cert./mold/rebuild to $3,600|
|License fee||2% to 8% of Gross Sales except for roll-in sales and Reconstruction Services. In addition, minimum license fees apply.|
|Estimated total||$1,675 to $3,600|
Insurance costsInitial insurance costs for Rainbow International Restoration run $11,250. This means you'll be paying more than the overall nationwide average of $6,311.
|Insurance, including annual general liability, pollution, workers' compensation and office||$7,500 to $15,000|
|Estimated total||$7,500 to $15,000|
Personnel costsUniforms, name tags and the like make up personnel costs, and for Rainbow International Restoration it will run you $495. The nationwide average cost of personnel fees comes in at $22,818, which means you'll be paying less to outfit your employees.
|Recruiting and onboarding||$495 to $495|
|Estimated total||$495 to $495|
Other expensesMiscellaneous expenses for Rainbow International Restoration total $58,750 — less than the nationwide average of $69,970.
|Professional fees||$2,500 to $5,000|
|Six to nine months' additional funds||$40,000 to $70,000|
|Estimated total||$42,500 to $75,000|
How to financeSince the estimated total for Rainbow International Restoration is on the more costly side, we recommend following these steps to get fully financed:
- Go to the Rainbow International Restoration franchising website and review its financial requirements, including cash-on-hand requirements.
- Reach out to Rainbow International Restoration 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 $233,433 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?You have several options when it comes to financing a Rainbow International Restoration — even if the cost is on the heavier side. What assets you have available will largely determine how much you need to borrow, and which option suits you best.
- Online loan. A number of online business lenders offer amounts up to $1 million, with some extending up to $5 million.
- Bank loan. Your personal credit will typically need to at least be good — 670 or higher — when it comes to getting a bank loan large enough to cover a significant portion of Rainbow International Restoration opening costs.
- SBA loan. While your personal credit score doesn't need to be as good to qualify for an SBA loan, they usually cost more than standard term loans from banks or online lenders.
Compare small business lendersYou may not need financing to cover the estimated $185,570. 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 Rainbow International Restoration stacks upCompare how Rainbow International Restoration holds up against two similarly sized franchises.
|The Little Gym||Rainbow International Restoration||Wireless Zone|
|Average Franchise fees||$49,500||$40,000||$13,000|
|Average Equipment fees||$84,950||$92,000||$13,000|
|Average Real estate fees||$97,500||NA||$30,000|
|Average Training fees||$7,500||$8,300||$5,250|
|Average Inventory fees||NA||NA||$62,500|
|Average Marketing fees||$19,000||$20,000||$5,000|
|Average Licenses and permits fees||NA||$2,638||NA|
|Average Insurance fees||$2,750||$11,250||NA|
|Average Admin fees||NA||NA||$20,500|
|Average Personnel fees||NA||$495||NA|
|Average Other fees||$7,000||$58,750||$9,000|
Bottom lineRainbow International Restoration franchise costs run a total of $233,433. 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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