In addition to strong character traits such as leadership, dedication, and business savvy, potential Signarama franchisees will also need to fit the bill financially.
While opening a franchise can be a fantastic investment opportunity, franchisees will need sufficient funding for a successful launch. Below are some of the costs you can expect to invest in order to get your Signarama franchise off the ground.
The franchise fee of $49,500 is due at the time that your contract is signed. The franchise fee is set based on a number of factors including company expenses for grant and acquisition, uniqueness of the business, complexity levels, and overall revenue streams, to name a few.
Liquid capital is an asset that is readily convertible. Liquid capital is an important determinant in whether or not the business will be financially stable until it begins to turn a profit. In order to open a Signarama franchise, you must have a minimum of $49,500 in liquid capital.
As a Signarama new franchisee, you can expect an approximate total investment of $185,000 to $195,000. This includes the $49,500 franchise fee. Investment costs include everything you will need to have your store fully operational – including supplies, machinery, rent, insurance and other expenses.
As a Signarama franchisee, you will pay 6% of your gross sales revenue in royalties. This is a recurring expense that covers items such as ongoing support and other resources provided by the brand.