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Spherion franchise financing options
Compare costs, fees and where to get financing for a Spherion.
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 Spherion franchise may result in higher or lower fees.
Franchise feesSpherion franchise fees total around $35,000, which beats out the $37,000 average for the 200 largest franchises nationwide.
|Initial franchise fees||$35,000 to $35,000|
|Estimated total||$35,000 to $35,000|
Equipment feesEquipment fees total $41,660 for Spherion. This is less than the $180,023 average for the top 200 franchises.
|Computer system||$3,650 to $7,200|
|Furniture and fixtures||$15,500 to $40,000|
|Equipment||$4,650 to $10,500|
|Hardware installation||$720 to $1,100|
|Estimated total||$24,520 to $58,800|
Real estate feesReal estate will set you back $7,193 for Spherion, thought it's less than the average of $788,376 for the top 200 franchises.
|Real property||$3,125 to $10,000|
|Utility expenses||$160 to $1,100|
|Estimated total||$3,285 to $11,100|
Training feesSpherion initial training costs total $6,563, which comes in under the nationwide average of $9,788.
|Training expenses||$3,750 to $9,375|
|Estimated total||$3,750 to $9,375|
Inventory costsInitial inventory for Spherion shakes out to $780. This is less than the nationwide average of $53,119.
|Startup supplies||$510 to $1,050|
|Estimated total||$510 to $1,050|
Marketing costsAdvertisement and marketing costs total up to $16,250 for Spherion, which is more than the nationwide average of $9,938.
|Opening advertising||$7,500 to $25,000|
|Estimated total||$7,500 to $25,000|
Licenses and permits costsSpherion initial licenses and permits will set you back $630. This comes out to less than $18,770 — the overall nationwide average.
|Licenses and permits||Cost|
|Business franchises||$160 to $1,100|
|Estimated total||$160 to $1,100|
Insurance costsInitial insurance costs for Spherion run $4,975. This means you'll be paying less than the overall nationwide average of $6,311.
|Insurance||$2,100 to $7,850|
|Estimated total||$2,100 to $7,850|
Other expensesMiscellaneous expenses for Spherion total $113,875 — more than the nationwide average of $69,970.
|Professional fees||$1,050 to $5,200|
|Additional funds for 12 months||$51,500 to $170,000|
|Estimated total||$52,550 to $175,200|
How to financeSince the estimated total for Spherion is on the more costly side, we recommend following these steps to get fully financed:
- Go to the Spherion franchising website and review its financial requirements, including cash-on-hand requirements.
- Reach out to Spherion 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 $226,925 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 Spherion — 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 Spherion 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 $129,375. 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 Spherion stacks upCompare how Spherion holds up against two similarly sized franchises.
|Five Star Painting||Spherion||Window World|
|Average Franchise fees||$45,000||$35,000||$17,500|
|Average Equipment fees||$27,725||$41,660||$32,500|
|Average Real estate fees||$3,000||$7,193||$51,800|
|Average Training fees||$2,500||$6,563||$1,050|
|Average Inventory fees||NA||$780||$750|
|Average Marketing fees||$32,500||$16,250||$20,000|
|Average Licenses and permits fees||$875||$630||$1,500|
|Average Insurance fees||$5,000||$4,975||$6,000|
|Average Admin fees||$1,850||NA||$4,000|
|Average Personnel fees||NA||NA||$40,000|
|Average Other fees||$11,025||$113,875||$45,000|
Bottom lineSpherion franchise costs run a total of $226,925. 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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