Safe Ship franchise financing options

Overall costs for Safe Ship run anywhere from $30,850 to $98,300. 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 2022 from Franchise Direct and include opening fees and expenses only. The location you choose for your Safe Ship franchise may result in higher or lower fees.

Franchise fees

Safe Ship franchise fees total around $19,900, which beats out the $37,000 average for the 200 largest franchises nationwide.

Franchise	Cost
Initial franchise fee	$14,900 to $24,900
Estimated total	$14,900 to $24,900

Equipment fees

Equipment fees total $4,750 for Safe Ship. This is less than the $180,023 average for the top 200 franchises.

Equipment	Cost
Signs	$3,500 to $6,000
Estimated total	$3,500 to $6,000

Real estate fees

Real estate will set you back $16,175 for Safe Ship, thought it's less than the average of $788,376 for the top 200 franchises.

Real estate	Cost
Security deposit	$750 to $1,000
Other deposits	$200 to $1,000
Leasehold improvements	$5,000 to $24,400
Estimated total	$5,950 to $26,400

Inventory costs

Initial inventory for Safe Ship shakes out to $500. This is less than the nationwide average of $53,119.

Inventory	Cost
Inventory	$0 to $1,000
Estimated total	$0 to $1,000

Insurance costs

Initial insurance costs for Safe Ship run $850. This means you'll be paying less than the overall nationwide average of $6,311.

Insurance	Cost
Insurance	$700 to $1,000
Estimated total	$700 to $1,000

Personnel costs

Uniforms, name tags and the like make up personnel costs, and for Safe Ship it will run you $1,400. The nationwide average cost of personnel fees comes in at $22,818, which means you'll be paying less to outfit your employees.

Personnel	Cost
Wages	$0 to $2,500
Uniforms	$100 to $200
Estimated total	$100 to $2,700

Other expenses

Miscellaneous expenses for Safe Ship total $21,000 — less than the nationwide average of $69,970.

Other	Cost
Professional fees	$500 to $2,500
Three months' additional funds	$5,200 to $33,800
Estimated total	$5,700 to $36,300

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 2022.

How to finance

Since the estimated total for Safe Ship is on the more costly side, we recommend following these steps to get fully financed:

1. Go to the Safe Ship franchising website and review its financial requirements, including cash-on-hand requirements.
2. Reach out to Safe Ship 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 $64,575 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 Safe Ship.

• 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 Safe Ship 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 $30,850. 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.

How Safe Ship stacks up

Compare how Safe Ship holds up against two similarly sized franchises.

	Rusty Taco	Safe Ship	Corporate Caterers
Average Franchise fees	$25,000	$19,900	$49,500
Average Equipment fees	$18,000	$4,750	$27,500
Average Real estate fees	$342,500	$16,175	$5,650
Average Training fees	NA	NA	NA
Average Inventory fees	NA	$500	$13,250
Average Marketing fees	NA	NA	NA
Average Licenses and permits fees	$4,975	NA	NA
Average Insurance fees	$18,000	$850	$1,500
Average Admin fees	NA	NA	NA
Average Personnel fees	NA	$1,400	NA
Average Other fees	$45,000	$21,000	$3,250

Bottom line

Safe Ship franchise costs run a total of $64,575. 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.