How much does it cost to open Christian Brothers franchise?
1. Initial Franchise Fee: $121,500 to $135,000 You pay Christian Brothers an initial franchise fee of $135,000. This initial franchise fee is paid in two installments. The first installment is in the amount of $85,000 and is due at the earlier of your signing the Franchise Agreement or your signing the Receipt and Acknowledgement Letter Agreement.
How much does Christian Brothers charge for regional marketing?
Christian Brothers can require you to contribute up to $20,000 per year to the Regional Marketing Group Fund. Christian Brothers currently collects $2,500 per year, which is subject to change. Due Date: Last business day of each month. As of the date of the current Disclosure Document, Christian Brothers has established regional marketing groups.
Does Christian Brothers offer military discounts?
If you are a current or former member of the United States Armed Forces and have been or will be honorably discharged, Christian Brothers offers you a discount of 10% off the initial franchise fee. Christian Brothers may not be able to purchase the Land that you have approved and Christian Brothers has agreed to attempt to acquire.
Why is the equipment purchased by Christian Brothers?
The equipment is purchased by Christian Brothers in order to obtain better pricing than individual purchasers could obtain, and it only charges you its cost. The costs for equipment purchases are refundable prior to delivery. 3.
Is Christian Brothers a good franchise to own?
Leadership and Core Values are strong year over year, and franchisees rate the support and financial opportunity of the business high. Christian Brothers Automotive conducted their franchise review in November 2021, and collected feedback from 82% of the active franchisees (158).
Who is the owner of Christian Brothers Automotive?
Jim Foster - President/Owner - Christian Brothers Automotive | LinkedIn.
How many Christian Brothers Automotive locations are there?
We have more than 250+ locations nationwide. Contact us today to find a Christian Brothers Automotive facility near you!
What year did Christian Brothers Automotive begin selling franchises?
1996It was in this year, 1996, that Christian Brothers Automotive became a registered franchisor and started offering its franchise throughout Texas. Many of Christian Brothers' earliest franchisees arrived through Mark's Sunday school class at Spring Branch Bible Church.
What is Christian Brothers Automotive?
The Christian Brothers Automotive is a distinct automobile business that is built on the foundation of exquisite service. The company aims to offer a unique automotive experience to its customers through the Nice Difference vision. The Christian Brothers Automotive Nice Difference system entails:
How much financing does a franchise get?
Franchisees will get 50-percent financ ing of the initial franchise fee. The other half must be paid in cash. The funding offered is a four-year period with an APR of 6 percent. The franchisor will not receive indirect or direct fees for placing financing.
What is The Mr. Appliance Franchise Cost?
For your home and office appliance needs and repairs, there’s only one name you can trust if you’re in the United States or Canada. Mr. Appliance is a reliable company with decades of experience. The company has been offering franchising opportunities since 1996. So, if you want a money-making venture, learn more about Mr. Appliance’s franchise terms and costs.
What is a franchise agreement territory?
The franchise store must adhere to the Franchise Agreement territory requirement as set by the franchisor. The franchisor grants franchisees an exclusive geographic area. This will entail a geographic territory, referred to as “territory.”
How long does it take to complete franchising training?
Once Phase I is completed to the franchisor’s satisfaction, an owner and manager should complete Phase II training. It takes about ten days to complete, with the topics Business and Systems covered. Meanwhile, the training location depends on the franchisor. It could be in one of their offices in Waco, Texas. It may be in other locations or could be conducted through video calls.
How long is franchising phase 1?
The duration of Phase I will be 15 hours or longer, conducted within a one to three-week period. In some instances, the franchisor MAY require a Franchise Consultant to join the training. However, the training may take longer depending on the attendees’ knowledge and experiences. As for the location, the franchisor may assign a location, or it could be held over video conference.
How long does franchising training last?
The franchisor will hold an initial training period for the franchisees and a manager. However, if it’s an entity or a corporation, a managing owner (at least 10% interest) must undergo training. The location of the training could be held at a franchise store or a support center. Initial training includes the “Franchise Induction Program.” It lasts ten days and can be extended depending on the franchisee.
How much does Christian Brothers franchise cost?
You pay Christian Brothers an initial franchise fee of $135,000. This initial franchise fee is paid in two installments.
How much is the second installment of a Christian Brothers franchise?
The second installment is in the amount of $50,000 and is due on or before three business days after Christian Brothers informs you in writing that the building permits have been obtained, and that either the Land has been purchased or the Land has been leased for the building where your franchise will operate. You may be able to include the second installment in your small business financing, depending on your personal circumstances and creditworthiness.
What happens if you fail to comply with your obligations under the franchise agreement?
If you fail to comply with your obligations under the Franchise Agreement, Christian Brothers is entitled to retain the full amount of the initial franchise fee as liquidated damages in the event of termination of your Franchise Agreement.
What happens if Christian Brothers terminates a contract?
In the event a Termination Event occurs after Christian Brothers has executed a Contract and either (a) has submitted site plans to the appropriate authority for approval in connection with the purchase of the Land, or (b) has performed due diligence in connection with the acquisition of the Land, then Christian Brothers will retain all of your initial $85,000 deposit.
What is royalty fee based on?
The Royalty Fee is based on the “Split Profits” for the previous month.
Why are Christian Brothers equipment purchased?
The equipment is purchased by Christian Brothers in order to obtain better pricing than individual purchasers could obtain, and it only charges you its cost.
What is the transaction fee for a business?
9. Transaction Fee: the greater of 7% of the gross value of the business or $50,000
How much does a Christian Brothers Automotive franchise cost?
Christian Brothers Automotive has a franchise fee of up to $135,000, with a total initial investment range of $454,250 to $582,400.
How many Christian Brothers franchises are there in the USA?
As of the 2020 Franchise Disclosure Document, there are 210 franchised Christian Brothers Automotive locations in the USA.
How many franchise locations do they have?
As of the 2020 Franchise Disclosure Document, there are 227 franchised Christian Brothers Automotive locations in the USA.
What does it mean to find the best franchise?
Finding the best franchise means comparing several brands to determine the ideal fit for you.
Background
Whether we are in a recession or prosperity, the automotive repair industry has thrived, due greatly to the fact that Americans rely on their cars. Thus, it is safe to say that maintaining and repairing a car isn't a luxury - it is a necessity.
Support and Training Offered By Christian Brothers Automotive
In terms of support and training, the franchisee can expect over 275 hours of comprehensive training that covers:
Franchises Similar to Christian Brothers Automotive
The International Franchise Professionals Group (IFPG) is an internationally recognized membership-based franchise organization. IFPG Franchise Consultants guide aspiring business owners through the process of identifying and investing in franchise businesses. The IFPG represents more than 550 franchises.
