How much does honest franchise cost?
Investment DetailsUnit NameInvestmentBrand FeeSingle₹25Lakh to ₹30Lakh₹5Lakh
How do franchise fees work?
Franchise marketing fees are usually based on your monthly revenue. For instance, if your average monthly revenue is $25, 000, and the franchisor charges a 2% marketing fee, you'll have to pay your franchisor $500. (That's $6, 000 annually.)
What is an automotive franchise?
Automotive franchises cover various services, including car product retail, repair services, valeting services, car washes, car sales, and rental businesses.
What types of assistance does the franchisor give a franchisee?
A franchisor will typically offer the following assistance to franchisees:Financial assistance. Not all franchisors offer financial assistance but some do have financing programs available to franchisees. ... Location selection. ... Training/operations manual. ... Advertising and marketing. ... Ongoing support.
How does a franchise owner get paid?
How do franchise owners get paid? Franchise owners can pay themselves a salary or depending on their business entity, they may be able to take a draw from their accumulated equity.
What's the average franchise fee?
between $25,000 to $50,000Franchise fees are typically between $25,000 to $50,000 on average. 2) Startup Costs: These are the expenses you'll incur to get your new business open and operating. Initial investment costs vary widely from franchise to franchise.
What franchise is the most profitable?
Most Profitable FranchisesDunkin'7-Eleven.Planet Fitness.JAN-PRO.Taco Bell.Orangetheory Fitness.Great Clips.Mac Tools.More items...•
Are car rental franchises profitable?
Is a car rental franchise profitable? Yes, car rental franchise owners can turn a profit in the first few years. The exact amount varies by location and fleet size. But some see profits of up to $150,000 to $200,000 annually.
How do I open a AutoZone franchise?
AutoZone's Store Development department considers hundreds of locations each year to accommodate our expansion needs. All AutoZone stores are company-owned; we don't offer franchises.
Do franchises pay taxes?
Franchise taxes are paid in addition to federal and state income taxes. The amount of franchise tax can differ greatly depending on the tax rules within each state and is not calculated on the organization's profit. Kansas, Missouri, Pennsylvania, and West Virginia all discontinued their corporate franchise taxes.
What is a franchise owner called?
A franchisee is a small-business owner who operates a franchise. The franchisee pays a fee to the franchisor for the right to use the business's already-established success, trademarks, and proprietary knowledge.
When you buy a franchise you are buying?
When you buy a franchise, you get the right to use the name, logo, and products of a larger brand. You'll also get to benefit from brand recognition, promotions, and marketing. But, it also means you have to follow rules from the larger brand about how you run your business.
What is the McDonald's franchise fee?
$45,000McDonald's Franchise Cost / Initial Investment / Income Most McDonald's owner/operators have entered the corporation by purchasing an existing restaurant. To open a McDonald's franchise, however, requires a total investment of $1-$2.2 million, with liquid capital available of $750,000. The franchise fee is $45,000.
How does the franchisee pay the franchise fee to the franchisor?
A royalty fee is an ongoing fee that a franchisee pays to the franchisor. This fee is usually paid weekly, monthly, or quarterly, and is typically calculated as a percentage of gross sales.
Can you negotiate franchise fees?
The initial franchise fee isn't typically negotiable. It would not look good for a franchisor to offer different initial franchise fees to different franchisees.
Are franchise fees refundable?
Fees and royalty clause This clause mentions the non-refundable franchise fees which the franchisee has to make to the franchisor and also the one-time fees if any. Royalty clause is the non-refundable portion of the payment (usually in percentage) which the franchisee are obliged to make to the franchisor.
What does a Honest-1 Auto Care Franchise Cost?
At Honest-1 there are a few investment options. A single unit start up cost range from $205,650 – $659,150 and a multi store development (3 stores) ranges from $774,875 – $2,314,875. In order to qualify, you must have a minimum net worth of $700,000 with at least $200,000 in liquid assets, and a good credit rating.
Honest-1 Auto Care: An Incredible Franchise Ownership Opportunity
Founded in 2003 as a much-needed break from the traditional auto shop image, Honest-1 Auto Care has grown into the country's most trusted family of automotive maintenance and repair centers and the most powerful franchise in the industry.
About
Since two thirds of auto care customers are female, we've created an atmosphere that's as appealing to women as it is to men. From our plush couches, large screen TVs, and Internet cafe to our secured children's play area and upscale bathroom decor, every aspect of our centers is designed to be inviting, clean, and comfortable.
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How much does an Honest-1 Auto Care franchise make?
As with any business, profits from an Honest-1 Auto Care franchise depend on a variety of factors. Typically, profits are proportionate to the size of investment. Demand for your products, labor costs, commercial lease rates and a number of other variables also play a huge role in your bottom line. For system-specific data, unlock this franchise .
How many franchise locations do they have?
As of the 2017 Franchise Disclosure Document, there are 69 franchised Honest-1 Auto Care locations in the USA.
Are there any Honest-1 Auto Care franchise opportunities near me?
Based on 2017 FDD data, Honest-1 Auto Care has franchise locations in 21 states. The largest region is the South with 27 franchise locations.
Do they provide any initial training and opening assistance?
Yes, they have an initial training program of 159 hours. This includes 109 hours of classroom training and 50 hours of on-the-job training. In their FDD they outline who’s in charge of the training. Unlock to find out more.
Do they offer Territory Rights?
Honest-1 Auto Care offers territory protections. For an explanation of territorial rights, unlock this franchise for important details.
Background
Every year the average age of the 249 million operating vehicles in the U.S. is growing older. With over $35 billion in maintenance and repairs per year, now is the time to take advantage of the great opportunity that Honest-1 is offering. Our philosophy is Honesty, Value and Support.
Support and Training Offered By Honest-1 Auto Care
Financial Assistance Provided: No Site Selection Assistance: Yes Lease Negotiation Assistance: Yes Recruiting Assistance: Yes Co-Operative Advertising: Yes Training: Unit:Honest-1? provides a complete training program for all of our franchisees and its employees called The Lift. Our training programs are designed to give you the knowledge, tools and skills needed in order to become a successful Center Operator.
Franchises Similar to Honest-1 Auto Care
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.
When was Honest 1 Auto Care founded?
Founded in 2003 as a much-needed break from the traditional auto shop image, Honest-1 Auto Care has grown into the country's most trusted family of automotive maintenance and repair centers and the most powerful franchise in the industry.
Is honest 1 auto care a franchise?
Honest-1 Auto Care is listed in the Franchise Directory under the Automotive category and the Retail category. It's also listed in the section for Franchises Under $250,000 .
What is a franchisee's territory?
Territory Granted: Franchisees are granted the right, and undertake the obligation, to operate an “Honest-1” center at a site the franchisor approves. The franchisor will not establish another “Honest-1” center, franchised or company-owned, within a specified territory surrounding the canter as set forth in the Franchise Agreement. The standard territory is a three-mile radius of the center location as set forth in the Franchise Agreement but the franchisor reserves the right to adjust the territory. The Franchise Agreement does not prohibit franchisees, the franchisor or other franchisees from servicing customers who reside outside their protected territory, but they are prohibited from actively soliciting outside of the protected territory.
How long is franchise training?
Training Overview: The training will last for approximately four weeks, for up to 25 to 50 hours per week, and training will be held on Monday through Friday of each week for a total of approximately 125 hours of classroom and on-site instruction. This initial training will serve as a follow-up and emphasis of the franchisees’ review of the manuals and various meetings/discussions to be held with the instruction team immediately following the signing of the Franchise Agreement. The franchisor will give the initial classroom training at its corporate headquarters or at a location it designates. The franchisor’s on-site training will be continued within an automotive center at its headquarters or at a location it designates. Although there is no fee to attend any training program at the location designated, franchisees must pay for their and/or their employees' transportation, lodging and meal expenses, wages and employee benefits, and materials fees, including the cost of the applicable training manuals while in training programs (excluding the initial store operational training program). Franchisees must pay the franchisor for three weeks of on-site coaching. Franchisees may need to attend additional training programs as directed by the franchisor.
How long does a franchise agreement last?
Term of Agreement and Renewal: The length of the initial franchise term is 20 years.
Do franchisees have to appoint a representative?
Obligations and Restrictions: If franchisees are a corporation or other form of legal entity, they must appoint a designated representative for the entity. The franchisor recommends that the designated representative hold an ownership interest in the entity but the franchisor does not require it.
Does franchising offer financing?
Financial Assistance: The franchisor does not offer direct or indirect financing. The franchisor does not guarantee a franchisee’s note, lease or obligation.
Does Franchise Direct sell your information?
Franchise Direct's reputation for integrity in the franchise industry has been established over our 20+ years in business. We NEVER sell your information or share it with anyone other than the companies from which you have requested information. Please view our privacy policy.
How much does an HonesT franchise make?
As with any business, profits from an HonesT franchise depend on a variety of factors. Typically, profits are proportionate to the size of investment. Demand for your products, labor costs, commercial lease rates and a number of other variables also play a huge role in your bottom line. For system-specific data, unlock this franchise .
Do they have computer and technology support in place?
Yes. HonesT offers comprehensive support for franchisees. Unlock this franchise to find out more details.
Do they offer financing support?
No, but you can click here to fill out our affordability calculator and understand your financing options.
What does it mean to find the best franchise?
Finding the best franchise means comparing several brands to determine the ideal fit for you.
