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School of Rock franchise financing options

Compare costs, fees and where to get financing for a School of Rock.

Overall costs for School of Rock run anywhere from $265,000 to $484,600. 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 2021 from Franchise Direct and include opening fees and expenses only. The location you choose for your School of Rock franchise may result in higher or lower fees.

Franchise fees

School of Rock franchise fees total around $49,900, which is more than the $37,000 average for the 200 largest franchises.
Franchise Cost
Initial franchise fee $49,900 to $49,900
Royalty 8% of gross sales.
Estimated total $49,900 to $49,900

Equipment fees

Equipment fees total $52,250 for School of Rock. This is less than the $180,023 average for the top 200 franchises.
Equipment Cost
Furnishings and finishings $10,000 to $24,000
Equipment $15,000 to $25,000
Signage $7,000 to $14,000
Computer and software $3,000 to $6,500
Estimated total $35,000 to $69,500

Real estate fees

Real estate will set you back $210,350 for School of Rock, thought it's less than the average of $788,376 for the top 200 franchises.
Real estate Cost
Initial rent outlays $8,000 to $14,600
Site selection and leasehold improvements $125,000 to $250,000
Architectural fees $6,000 to $15,000
Utility costs and deposits $600 to $1,500
Estimated total $139,600 to $281,100

Training fees

School of Rock initial training costs total $2,400, which comes in under the nationwide average of $9,788.
Training Cost
Pre-opening training $1,800 to $3,000
Estimated total $1,800 to $3,000

Inventory costs

Initial inventory for School of Rock shakes out to $3,400. This is less than the nationwide average of $53,119.
Inventory Cost
Supplies $400 to $800
Opening inventory $2,300 to $3,300
Estimated total $2,700 to $4,100

Marketing costs

Advertisement and marketing costs total up to $10,000 for School of Rock, which is more than the nationwide average of $9,938.
Marketing Cost
Advertising $10,000 to $10,000
Estimated total $10,000 to $10,000

Licenses and permits costs

School of Rock initial licenses and permits will set you back $1,750. This comes out to less than $18,770 — the overall nationwide average.
Licenses and permits Cost
Permits and licenses $1,000 to $2,500
Estimated total $1,000 to $2,500

Insurance costs

Initial insurance costs for School of Rock run $1,750. This means you'll be paying less than the overall nationwide average of $6,311.
Insurance Cost
Prepaid insurance premiums $500 to $3,000
Insurance Cost of insurance and, if not obtained by franchisee, the franchisoru2019s procurement expense.
Estimated total $500 to $3,000

Other expenses

Miscellaneous expenses for School of Rock total $43,000 — less than the nationwide average of $69,970.
Other Cost
Miscellaneous opening expenses $3,500 to $7,500
Three months' additional funds $21,000 to $54,000
Estimated total $24,500 to $61,500
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 2021.

How to finance

Since the estimated total for School of Rock is on the more costly side, we recommend following these steps to get fully financed:
  1. Go to the School of Rock franchising website and review its financial requirements, including cash-on-hand requirements.
  2. Reach out to School of Rock 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 $374,800 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?

You have several options when it comes to financing a School of Rock — 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 School of Rock 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.
Also check if School of Rock 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 $265,000. 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.
Name Product Filter Values Min. Amount Max. Amount Requirements
Biz2Credit business loans
$25,000
$6,000,000
6+ months in business; $100,000+ monthly revenue; 500+ credit score
Get only the capital you need through secure, prescreened lenders with this highly rated company offering SBA, expansion, working capital and other loans.
OnDeck short-term loans
$5,000
$250,000
600+ personal credit score, 1 year in business, $100,000+ annual revenue, active business checking account
A leading online business lender offering flexible financing at competitive fixed rates.
Fora Financial business loans
$5,000
$500,000
6+ months in business, $12,000+ monthly revenue, no open bankruptcies
Get qualified for funding in minutes for up to $500,000 without affecting your credit score. Best for companies with at least six figures in annual revenue.
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.
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.
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How School of Rock stacks up

Compare how School of Rock holds up against two similarly sized franchises.
Pretzelmaker School of Rock Expedia CruiseShipCenters
Average Franchise fees $20,000 $49,900 $39,000
Average Equipment fees $88,250 $52,250 $34,050
Average Real estate fees $142,100 $210,350 $59,825
Average Training fees $3,000 $2,400 $1,123
Average Inventory fees $3,750 $3,400 NA
Average Marketing fees $4,000 $10,000 NA
Average Licenses and permits fees $2,000 $1,750 $1,000
Average Insurance fees $3,000 $1,750 $1,400
Average Admin fees NA NA NA
Average Personnel fees NA NA NA
Average Other fees $13,500 $43,000 $94,800

Bottom line

School of Rock franchise costs run a total of $374,800. 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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