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Senior Helpers franchise financing options

Compare costs, fees and where to get financing for a Senior Helpers.

Overall costs for Senior Helpers run anywhere from $107,800 to $147,800. 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 Senior Helpers franchise may result in higher or lower fees.

Franchise fees

Senior Helpers franchise fees total around $49,500, which is more than the $37,000 average for the 200 largest franchises.
Franchise Cost
Initial franchise fee $49,500 to $49,500
Royalty During the first year of operation, 5% of the gross sales from the preceding two-week period. Thereafter, the greater of 5% of the gross sales from the preceding two-week period, or the minimum periodic royalty payment.
Estimated total $49,500 to $49,500

Equipment fees

Equipment fees total $6,000 for Senior Helpers. This is less than the $180,023 average for the top 200 franchises.
Equipment Cost
Furniture, fixtures and equipment, including computer system $5,000 to $7,000
Estimated total $5,000 to $7,000

Real estate fees

Real estate will set you back $4,500 for Senior Helpers, thought it's less than the average of $788,376 for the top 200 franchises.
Real estate Cost
Lease, utility and security deposits $2,000 to $3,500
Leasehold improvements $0 to $3,500
Estimated total $2,000 to $7,000

Inventory costs

Initial inventory for Senior Helpers shakes out to $1,100. This is less than the nationwide average of $53,119.
Inventory Cost
Supplies $700 to $1,500
Estimated total $700 to $1,500

Marketing costs

Advertisement and marketing costs total up to $7,500 for Senior Helpers, beating out the nationwide average of $9,938.
Marketing Cost
Promotional items $2,000 to $4,000
Initial advertising $3,000 to $6,000
Estimated total $5,000 to $10,000

Licenses and permits costs

Senior Helpers initial licenses and permits will set you back $6,250. This comes out to less than $18,770 — the overall nationwide average.
Licenses and permits Cost
Business license and permits $0 to $12,500
Estimated total $0 to $12,500

Insurance costs

Initial insurance costs for Senior Helpers run $4,250. This means you'll be paying less than the overall nationwide average of $6,311.
Insurance Cost
Insurance $3,500 to $5,000
Estimated total $3,500 to $5,000

Administrative fees

Senior Helpers administrative fees total up to $700 — which comes in under the overall nationwide average of $6,761.
Admin Cost
Legal and professional fees $100 to $1,300
Estimated total $100 to $1,300

Personnel costs

Uniforms, name tags and the like make up personnel costs, and for Senior Helpers it will run you $25,000. The nationwide average cost of personnel fees comes in at $22,818, which means you'll be paying more than average to outfit your employees.
Personnel Cost
Additional staffing $22,000 to $25,000
Recruitment $1,000 to $2,000
Estimated total $23,000 to $27,000

Other expenses

Miscellaneous expenses for Senior Helpers total $23,000 — less than the nationwide average of $69,970.
Other Cost
Three months' additional funds $19,000 to $27,000
Estimated total $19,000 to $27,000
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 Senior Helpers is on the more costly side, we recommend following these steps to get fully financed:
  1. Go to the Senior Helpers franchising website and review its financial requirements, including cash-on-hand requirements.
  2. Reach out to Senior Helpers 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 $127,800 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 Senior Helpers — 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 Senior Helpers 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 Senior Helpers 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 $107,800. 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
OnDeck small business loans
$5,000
$250,000
600+ personal credit score, 1 year in business, $100,000+ annual revenue
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.
LendingClub personal loans for business
$1,000
$40,000
US citizen or permanent resident, verifiable bank account, steady source of income, ages 18+.
Get prequalified for a personal loan up to $40,000 to help you grow your business. Great for new business owners with at least fair credit.
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How Senior Helpers stacks up

Compare how Senior Helpers holds up against two similarly sized franchises.
BrightStar Care Senior Helpers Weed Man Lawn Care
Average Franchise fees $25,000 $49,500 $26,875
Average Equipment fees $3,250 $6,000 $13,540
Average Real estate fees $300 $4,500 NA
Average Training fees $7,595 NA $4,600
Average Inventory fees NA $1,100 NA
Average Marketing fees $500 $7,500 NA
Average Licenses and permits fees $4,402 $6,250 NA
Average Insurance fees NA $4,250 $3,000
Average Admin fees $3,250 $700 NA
Average Personnel fees $3,096 $25,000 NA
Average Other fees $41,181 $23,000 $1,975

Bottom line

Senior Helpers franchise costs run a total of $127,800. 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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