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Senior Helpers franchise financing options
Compare costs, fees and where to get financing for a Senior Helpers.
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 Senior Helpers franchise may result in higher or lower fees.
Franchise feesSenior Helpers franchise fees total around $49,500, which is more than the $37,000 average for the 200 largest franchises.
|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 feesEquipment fees total $6,000 for Senior Helpers. This is less than the $180,023 average for the top 200 franchises.
|Furniture, fixtures and equipment, including computer system||$5,000 to $7,000|
|Estimated total||$5,000 to $7,000|
Real estate feesReal 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.
|Lease, utility and security deposits||$2,000 to $3,500|
|Leasehold improvements||$0 to $3,500|
|Estimated total||$2,000 to $7,000|
Inventory costsInitial inventory for Senior Helpers shakes out to $1,100. This is less than the nationwide average of $53,119.
|Supplies||$700 to $1,500|
|Estimated total||$700 to $1,500|
Marketing costsAdvertisement and marketing costs total up to $7,500 for Senior Helpers, beating out the nationwide average of $9,938.
|Promotional items||$2,000 to $4,000|
|Initial advertising||$3,000 to $6,000|
|Estimated total||$5,000 to $10,000|
Licenses and permits costsSenior 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 costsInitial insurance costs for Senior Helpers run $4,250. This means you'll be paying less than the overall nationwide average of $6,311.
|Insurance||$3,500 to $5,000|
|Estimated total||$3,500 to $5,000|
Administrative feesSenior Helpers administrative fees total up to $700 — which comes in under the overall nationwide average of $6,761.
|Legal and professional fees||$100 to $1,300|
|Estimated total||$100 to $1,300|
Personnel costsUniforms, 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.
|Additional staffing||$22,000 to $25,000|
|Recruitment||$1,000 to $2,000|
|Estimated total||$23,000 to $27,000|
Other expensesMiscellaneous expenses for Senior Helpers total $23,000 — less than the nationwide average of $69,970.
|Three months' additional funds||$19,000 to $27,000|
|Estimated total||$19,000 to $27,000|
How to financeSince the estimated total for Senior Helpers is on the more costly side, we recommend following these steps to get fully financed:
- Go to the Senior Helpers franchising website and review its financial requirements, including cash-on-hand requirements.
- Reach out to Senior Helpers 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 $127,800 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 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.
Compare small business lendersYou 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.
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 Senior Helpers stacks upCompare 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 lineSenior 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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