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The Goddard School franchise financing options
Compare costs, fees and where to get financing for a The Goddard School.
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 The Goddard School franchise may result in higher or lower fees.
Franchise feesThe Goddard School franchise fees total around $135,000, which is more than the $37,000 average for the 200 largest franchises.
|Initial franchise fee||$135,000 to $135,000|
|Royalty||7% of gross receipts of the school; The royalty fee is reduced during the first year to 2% of gross receipts for months 1-3, 4% for months 4-6, and 6% for months 7-12, if the franchisee is an existing franchisee purchasing an additional (new) franchise for a reduced initial license fee.|
|Estimated total||$135,000 to $135,000|
Equipment feesEquipment fees total $253,500 for The Goddard School. This costs more than the $180,023 average for the top 200 franchises.
|Furniture, fixtures and equipment||$191,000 to $231,000|
|Signs||$10,500 to $10,500|
|Computer hardware, telephone, interactive white board and digital signage package||$21,000 to $21,000|
|Security system||$11,000 to $11,000|
|Estimated total||$233,500 to $273,500|
Real estate feesReal estate will set you back $105,000 for The Goddard School, thought it's less than the average of $788,376 for the top 200 franchises.
|Site development assistance fee||$35,000 to $35,000|
|Optional land acquisition cost||Varies to|
|Optional building construction and site work||Varies to|
|Three months' rent||$55,000 to $85,000|
|Estimated total||$90,000 to $120,000|
Training feesThe Goddard School initial training costs total $36,000 — more than the nationwide average of $9,788.
|Initial training and opening assistance fee||$35,000 to $35,000|
|Convention deposit||$1,000 to $1,000|
|Estimated total||$36,000 to $36,000|
Marketing costsAdvertisement and marketing costs total up to $84,150 for The Goddard School, which is more than the nationwide average of $9,938.
|Initial advertising contribution||$50,000 to $55,000|
|Marketing materials, stationery, forms and curricular resources||$17,800 to $24,500|
|Three months' advertising contribution||$10,500 to $10,500|
|Estimated total||$78,300 to $90,000|
Personnel costsUniforms, name tags and the like make up personnel costs, and for The Goddard School it will run you $4,250. The nationwide average cost of personnel fees comes in at $22,818, which means you'll be paying less to outfit your employees.
|Background check, up to four individuals||$3,000 to $5,500|
|Estimated total||$3,000 to $5,500|
Other expensesMiscellaneous expenses for The Goddard School total $162,450 — more than the nationwide average of $69,970.
|Miscellaneous opening costs||$73,000 to $113,000|
|Three months' additional funds||$48,300 to $90,600|
|Estimated total||$121,300 to $203,600|
How to financeSince the estimated total for The Goddard School is on the more costly side, we recommend following these steps to get fully financed:
- Go to the The Goddard School franchising website and review its financial requirements, including cash-on-hand requirements.
- Reach out to The Goddard School 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 $780,350 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 The Goddard School — 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 The Goddard School 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 $697,100. 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 The Goddard School stacks upCompare how The Goddard School holds up against two similarly sized franchises.
|Pirtek||The Goddard School||Signal 88 Security|
|Average Franchise fees||$42,000||$135,000||$100,000|
|Average Equipment fees||$169,300||$253,500||$21,025|
|Average Real estate fees||$23,050||$105,000||NA|
|Average Training fees||NA||$36,000||$1,500|
|Average Inventory fees||$65,500||NA||NA|
|Average Marketing fees||NA||$84,150||$500|
|Average Licenses and permits fees||NA||NA||$5,175|
|Average Insurance fees||$30,000||NA||$2,475|
|Average Admin fees||$3,500||NA||NA|
|Average Personnel fees||NA||$4,250||$5,000|
|Average Other fees||$150,000||$162,450||$5,500|
Bottom lineThe Goddard School franchise costs run a total of $780,350. 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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