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ServPro franchise financing options
Compare costs, fees and where to get financing for a ServPro.
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 ServPro franchise may result in higher or lower fees.
Franchise feesServPro franchise fees total around $60,000, which is more than the $37,000 average for the 200 largest franchises.
|Initial franchise fee||$60,000 to $60,000 plus $667 per 1,000 population over maximum|
|Estimated total||$60,000 to $60,000|
Equipment feesEquipment fees total $18,500 for ServPro. This is less than the $180,023 average for the top 200 franchises.
|Vehicle||$2,000 to $35,000|
|Estimated total||$2,000 to $35,000|
Real estate feesReal estate will set you back $1,500 for ServPro, thought it's less than the average of $788,376 for the top 200 franchises.
|Real estate||$0 to $3,000|
|Estimated total||$0 to $3,000|
Inventory costsInitial inventory for ServPro shakes out to $6,175. This is less than the nationwide average of $53,119.
|Supplies||$3,850 to $8,500|
|Estimated total||$3,850 to $8,500|
Marketing costsAdvertisement and marketing costs total up to $875 for ServPro, beating out the nationwide average of $9,938.
|Advertising and promotion||$250 to $1,500|
|Estimated total||$250 to $1,500|
Licenses and permits costsServPro initial licenses and permits will set you back $1,625. This comes out to less than $18,770 — the overall nationwide average.
|Licenses and permits||Cost|
|Deposits, permits and licenses||$700 to $2,550|
|Estimated total||$700 to $2,550|
Administrative feesServPro administrative fees total up to $2,988 — which comes in under the overall nationwide average of $6,761.
|Legal and professional fees, accounting services, onu00adline tax table service and training||$975 to $1,500|
|Xactimate or other third-party estimating and pricing software and training||$1,000 to $2,500|
|Estimated total||$1,975 to $4,000|
How to financeSince the estimated total for ServPro is on the more costly side, we recommend following these steps to get fully financed:
- Go to the ServPro franchising website and review its financial requirements, including cash-on-hand requirements.
- Reach out to ServPro 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 $91,663 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 ServPro.
- 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 $68,775. 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 ServPro stacks upCompare how ServPro holds up against two similarly sized franchises.
|Sport Clips||ServPro||Matco Tools|
|Average Franchise fees||$42,250||$60,000||$7,000|
|Average Equipment fees||$62,650||$18,500||$5,300|
|Average Real estate fees||$97,000||$1,500||$220,072,580|
|Average Training fees||NA||NA||NA|
|Average Inventory fees||$5,000||$6,175||$69,000|
|Average Marketing fees||$30,000||$875||NA|
|Average Licenses and permits fees||$2,250||$1,625||NA|
|Average Insurance fees||$1,900||NA||$1,920|
|Average Admin fees||NA||$2,988||$3,743|
|Average Personnel fees||NA||NA||NA|
|Average Other fees||$64,500||NA||$1,075|
Bottom lineServPro franchise costs run a total of $91,663. 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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