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Sir Speedy franchise financing options

Compare costs, fees and where to get financing for a Sir Speedy.

Overall costs for Sir Speedy run anywhere from $244,285 to $294,285. 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 2022 from Franchise Direct and include opening fees and expenses only. The location you choose for your Sir Speedy franchise may result in higher or lower fees.

Franchise fees

Sir Speedy franchise fees total around $12,500, which beats out the $37,000 average for the 200 largest franchises nationwide.
Franchise Cost
Initial franchise fee $0 to $25,000
Estimated total $0 to $25,000

Equipment fees

Equipment fees total $89,285 for Sir Speedy. This is less than the $180,023 average for the top 200 franchises.
Equipment Cost
Purchased equipment, excluding computer hardware and software $59,837 to $59,837
Leased equipment, for 12 months $29,448 to $29,448
Estimated total $89,285 to $89,285

Training fees

Sir Speedy initial training costs total $30,000 — more than the nationwide average of $9,788.
Training Cost
Training and opening costs $30,000 to $30,000
Estimated total $30,000 to $30,000

Other expenses

Miscellaneous expenses for Sir Speedy total $137,500 — more than the nationwide average of $69,970.
Other Cost
First 20 months' additional funds $125,000 to $150,000
Estimated total $125,000 to $150,000
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 2022.

How to finance

Since the estimated total for Sir Speedy is on the more costly side, we recommend following these steps to get fully financed:
  1. Go to the Sir Speedy franchising website and review its financial requirements, including cash-on-hand requirements.
  2. Reach out to Sir Speedy 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 $269,285 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 Sir Speedy — 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 Sir Speedy 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 Sir Speedy 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 $244,285. 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
up to $6 million
up to $6 million
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.
Lendio business loans
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
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.
OnDeck short-term loans
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.
Fundbox lines of credit
6 + months in business, $100,000+ in annual revenue, 600+ credit score
Get flat rate, short-term financing based on the financial health of your business, not your credit score.

Compare up to 4 providers

How Sir Speedy stacks up

Compare how Sir Speedy holds up against two similarly sized franchises.
National Property Inspections Sir Speedy World Gym
Average Franchise fees $34,900 $12,500 $27,500
Average Equipment fees $1,125 $89,285 $183,500
Average Real estate fees NA NA $633,000
Average Training fees $738 $30,000 $5,000
Average Inventory fees NA NA $7,500
Average Marketing fees $575 NA NA
Average Licenses and permits fees $300 NA $12,500
Average Insurance fees $625 NA $15,000
Average Admin fees $1,400 NA $50,000
Average Personnel fees $250 NA NA
Average Other fees $1,775 $137,500 $37,500

Bottom line

Sir Speedy franchise costs run a total of $269,285. 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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