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Sears Handyman Solutions franchise financing options
Compare costs, fees and where to get financing for a Sears Handyman Solutions.
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 Sears Handyman Solutions franchise may result in higher or lower fees.
Franchise feesSears Handyman Solutions franchise fees total around $52,500, which is more than the $37,000 average for the 200 largest franchises.
|Initial franchise fee||$35,000 to $70,000|
|Royalty||6% of Gross Revenue (subject to Minimum Quarterly Royalty)|
|Estimated total||$35,000 to $70,000|
Real estate feesReal estate will set you back $5,000 for Sears Handyman Solutions, thought it's less than the average of $788,376 for the top 200 franchises.
|Real estate||$0 to $10,000|
|Estimated total||$0 to $10,000|
Training feesSears Handyman Solutions initial training costs total $3,250, which comes in under the nationwide average of $9,788.
|Training, travel, lodging and food||$1,000 to $5,500|
|Estimated total||$1,000 to $5,500|
Inventory costsInitial inventory for Sears Handyman Solutions shakes out to $1,750. This is less than the nationwide average of $53,119.
|Inventory||$1,000 to $2,500|
|Estimated total||$1,000 to $2,500|
Insurance costsInitial insurance costs for Sears Handyman Solutions run $2,000. This means you'll be paying less than the overall nationwide average of $6,311.
|Insurance||$1,000 to $3,000|
|Estimated total||$1,000 to $3,000|
Other expensesMiscellaneous expenses for Sears Handyman Solutions total $12,500 — less than the nationwide average of $69,970.
|Three months' additional funds||$5,000 to $20,000|
|Estimated total||$5,000 to $20,000|
How to financeSince the estimated total for Sears Handyman Solutions is on the more costly side, we recommend following these steps to get fully financed:
- Go to the Sears Handyman Solutions franchising website and review its financial requirements, including cash-on-hand requirements.
- Reach out to Sears Handyman Solutions 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 $77,000 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 Sears Handyman Solutions.
- 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 $43,000. 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 Sears Handyman Solutions stacks upCompare how Sears Handyman Solutions holds up against two similarly sized franchises.
|Jump!Zone||Sears Handyman Solutions||YogaFit|
|Average Franchise fees||$40,000||$52,500||$25,000|
|Average Equipment fees||NA||NA||$3,250|
|Average Real estate fees||$215,000||$5,000||$98,500|
|Average Training fees||NA||$3,250||$1,750|
|Average Inventory fees||NA||$1,750||NA|
|Average Marketing fees||$10,000||NA||$5,500|
|Average Licenses and permits fees||NA||NA||NA|
|Average Insurance fees||$3,000||$2,000||NA|
|Average Admin fees||NA||NA||NA|
|Average Personnel fees||NA||NA||NA|
|Average Other fees||$50,000||$12,500||NA|
Bottom lineSears Handyman Solutions franchise costs run a total of $77,000. 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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