YogaFit franchise financing options

Overall costs for YogaFit run anywhere from $41,000 to $227,000. 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 2021 from Franchise Direct and include opening fees and expenses only. The location you choose for your YogaFit franchise may result in higher or lower fees.

Franchise fees

YogaFit franchise fees total around $25,000, which beats out the $37,000 average for the 200 largest franchises nationwide.

Franchise	Cost
Initial franchise fee	$25,000 to $25,000
Royalty	The greater of 5% of Gross Revenues or $500 per month.
Estimated total	$25,000 to $25,000

Equipment fees

Equipment fees total $3,250 for YogaFit. This is less than the $180,023 average for the top 200 franchises.

Equipment	Cost
Exterior signage	$2,500 to $4,000
Estimated total	$2,500 to $4,000

Real estate fees

Real estate will set you back $98,500 for YogaFit, thought it's less than the average of $788,376 for the top 200 franchises.

Real estate	Cost
Leasehold improvements	$0 to $170,000
Rent	$9,000 to $18,000
Estimated total	$9,000 to $188,000

Training fees

YogaFit initial training costs total $1,750, which comes in under the nationwide average of $9,788.

Training	Cost
Training expenses	$500 to $3,000
Estimated total	$500 to $3,000

Marketing costs

Advertisement and marketing costs total up to $5,500 for YogaFit, beating out the nationwide average of $9,938.

Marketing	Cost
Grand opening marketing	$4,000 to $7,000
Estimated total	$4,000 to $7,000

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 2021.

How to finance

Since the estimated total for YogaFit is on the more costly side, we recommend following these steps to get fully financed:

1. Go to the YogaFit franchising website and review its financial requirements, including cash-on-hand requirements.
2. Reach out to YogaFit 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 $134,000 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 YogaFit — 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 YogaFit 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 YogaFit 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 $41,000. 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.

How YogaFit stacks up

Compare how YogaFit holds up against two similarly sized franchises.

	Sears Handyman Solutions	YogaFit	Zoom Drain
Average Franchise fees	$52,500	$25,000	$35,000
Average Equipment fees	NA	$3,250	NA
Average Real estate fees	$5,000	$98,500	$6,000
Average Training fees	$3,250	$1,750	$1,750
Average Inventory fees	$1,750	NA	NA
Average Marketing fees	NA	$5,500	$52,500
Average Licenses and permits fees	NA	NA	NA
Average Insurance fees	$2,000	NA	NA
Average Admin fees	NA	NA	NA
Average Personnel fees	NA	NA	NA
Average Other fees	$12,500	NA	$76,750

Bottom line

YogaFit franchise costs run a total of $134,000. 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.