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SpeedPro Imaging franchise financing options
Compare costs, fees and where to get financing for a SpeedPro Imaging.
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 SpeedPro Imaging franchise may result in higher or lower fees.
Franchise feesSpeedPro Imaging franchise fees total around $165,345, which is more than the $37,000 average for the 200 largest franchises.
|Initial franchise fee||$49,990 to $49,900|
|Startup fee||$115,400 to $115,400|
|Estimated total||$165,390 to $165,300|
Equipment feesEquipment fees total $975 for SpeedPro Imaging. This is less than the $180,023 average for the top 200 franchises.
|Technology monthly fee for the first three months||$975 to $975|
|Estimated total||$975 to $975|
Real estate feesReal estate will set you back $23,000 for SpeedPro Imaging, thought it's less than the average of $788,376 for the top 200 franchises.
|Leaseholds improvements||$0 to $30,000|
|Rent and security deposit||$3,000 to $12,000|
|Utility deposits||$0 to $1,000|
|Site selection||The franchisoru2019s expenses.|
|Estimated total||$3,000 to $43,000|
Training feesSpeedPro Imaging initial training costs total $2,500, which comes in under the nationwide average of $9,788.
|Training and travel expenses||$2,000 to $3,000|
|Estimated total||$2,000 to $3,000|
Marketing costsAdvertisement and marketing costs total up to $10,000 for SpeedPro Imaging, which is more than the nationwide average of $9,938.
|Initial marketing fee||$10,000 to $10,000|
|Estimated total||$10,000 to $10,000|
Licenses and permits costsSpeedPro Imaging initial licenses and permits will set you back $500. This comes out to less than $18,770 — the overall nationwide average.
|Licenses and permits||Cost|
|Business permits and licenses||$0 to $1,000|
|Estimated total||$0 to $1,000|
Insurance costsInitial insurance costs for SpeedPro Imaging run $1,050. This means you'll be paying less than the overall nationwide average of $6,311.
|One year of business insurance premiums||$800 to $1,300|
|Estimated total||$800 to $1,300|
Other expensesMiscellaneous expenses for SpeedPro Imaging total $65,000 — less than the nationwide average of $69,970.
|Professional fees||$1,500 to $3,500|
|Three months' working capital||$50,000 to $75,000|
|Estimated total||$51,500 to $78,500|
How to financeSince the estimated total for SpeedPro Imaging is on the more costly side, we recommend following these steps to get fully financed:
- Go to the SpeedPro Imaging franchising website and review its financial requirements, including cash-on-hand requirements.
- Reach out to SpeedPro Imaging 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 $268,370 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 SpeedPro Imaging — 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 SpeedPro Imaging 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 $233,665. 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 SpeedPro Imaging stacks upCompare how SpeedPro Imaging holds up against two similarly sized franchises.
|College Nannies, Sitters and Tutors||SpeedPro Imaging||Crestcom|
|Average Franchise fees||$45,000||$165,345||$69,500|
|Average Equipment fees||$10,250||$975||$1,863|
|Average Real estate fees||$5,000||$23,000||$250|
|Average Training fees||$2,250||$2,500||$2,470|
|Average Inventory fees||NA||NA||NA|
|Average Marketing fees||$20,000||$10,000||$8,700|
|Average Licenses and permits fees||NA||$500||NA|
|Average Insurance fees||$7,000||$1,050||$1,150|
|Average Admin fees||$2,000||NA||$1,450|
|Average Personnel fees||NA||NA||NA|
|Average Other fees||$40,000||$65,000||$6,888|
Bottom lineSpeedPro Imaging franchise costs run a total of $268,370. 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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