Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure
Sir Speedy franchise financing options
Compare costs, fees and where to get financing for a Sir Speedy.
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 feesSir Speedy franchise fees total around $12,500, which beats out the $37,000 average for the 200 largest franchises nationwide.
|Initial franchise fee||$0 to $25,000|
|Estimated total||$0 to $25,000|
Equipment feesEquipment fees total $89,285 for Sir Speedy. This is less than the $180,023 average for the top 200 franchises.
|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 feesSir Speedy initial training costs total $30,000 — more than the nationwide average of $9,788.
|Training and opening costs||$30,000 to $30,000|
|Estimated total||$30,000 to $30,000|
Other expensesMiscellaneous expenses for Sir Speedy total $137,500 — more than the nationwide average of $69,970.
|First 20 months' additional funds||$125,000 to $150,000|
|Estimated total||$125,000 to $150,000|
How to financeSince the estimated total for Sir Speedy is on the more costly side, we recommend following these steps to get fully financed:
- Go to the Sir Speedy franchising website and review its financial requirements, including cash-on-hand requirements.
- Reach out to Sir Speedy 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 $269,285 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 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.
Compare small business lendersYou 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.
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 Sir Speedy stacks upCompare 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 lineSir 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.
More guides on Finder
Startup business lines of credit
A business line of credit is a useful tool. But as a startup, you may not qualify for the best interest rates with most lenders. Explore your options — and alternatives — for flexible funding as a new business.
How the Restaurant Revitalization Fund works
The Restaurant Revitalization Grant offers grants of up to $10 million to make up for revenue lost during COVID-19.
How to start a t-shirt business
Revel in the freedom of running your own business by selling tees online.
Auntie Anne’s Pretzels franchise financing options
Find out how much it costs to open a Auntie Anne’s Pretzels and what financing options are available to you.
NorthStar Moving franchise financing options
Find out how much it costs to open a NorthStar Moving and what financing options are available to you.
Sears Maid Services franchise financing options
Find out how much it costs to open a Sears Maid Services and what financing options are available to you.
Deck the Walls franchise financing options
Find out how much it costs to open a Deck the Walls and what financing options are available to you.
Zoom Drain franchise financing options
Find out how much it costs to open a Zoom Drain and what financing options are available to you.
Casa de Corazon franchise financing options
Find out how much it costs to open a Casa de Corazon and what financing options are available to you.
Sears Handyman Solutions franchise financing options
Find out how much it costs to open a Sears Handyman Solutions and what financing options are available to you.
Ask an Expert