|
Mobility Plus Showroom & Mobile Franchise ProfileRetail Franchises > Specialty Retail |
What Are the Initial Costs to Open a Mobility Plus Franchise?
To open a Mobility Plus showroom and mobile franchise, you should be prepared for an initial investment ranging from $125,188 to $221,188. This includes a franchise fee of $29,500. It’s essential to have cash on hand between $40,000 and $100,000 to cover startup expenses. Additionally, you’ll need to meet net worth requirements between $100,000 and $500,000. Understanding these financial commitments is crucial for planning your entry into the franchise.
What Are the Ongoing Fees Associated with Mobility Plus?
As a Mobility Plus franchisee, you will be responsible for ongoing fees, including a royalty fee of 7% of your gross revenue and a marketing fee of 2%. These fees are vital for maintaining brand standards and supporting marketing efforts. Being aware of these costs will help you budget effectively and ensure that your franchise remains profitable over time.
What Are the Revenue Expectations for a Mobility Plus Franchise?
Mobility Plus franchises have the potential for significant revenue, with an average annual revenue per unit estimated at $1,300,000. The median annual revenue is $339,650, while some units can generate as much as $1,500,000 annually. Understanding these revenue ranges can help you gauge the financial viability of your investment and set realistic expectations for your business performance.
What Is the Breakeven and Payback Period for a Mobility Plus Franchise?
The breakeven time for a Mobility Plus franchise is approximately 18 months, which means you can expect to recover your initial investment within this timeframe. Additionally, the investment payback period is around 12 months, indicating a relatively quick return on investment. These metrics are critical for assessing the financial health of your franchise and planning for future growth.
Mobility Plus Showroom & Mobile Franchise Financial Requirements
Below, you’ll find an overview of the initial investment needed to launch the business, along with the ongoing fees required by the franchisor to maintain operations over time.
The minimum total assets (minus liabilities) you must possess.
Net Worth Required:
The estimated period to recoup your total investment.
Investment Payback:
The initial fee paid to join the franchise system.
Franchise Fee:
Ongoing percentage of revenue paid to the franchisor.
Royalty Fee:
Regular contribution toward the franchise’s advertising fund.
Marketing Fee:
The estimated timeframe to recover your initial costs.
Breakeven Time:
The total amount required to launch the franchise.
Initial Investment:
The minimum liquid capital you must have on hand.
Cash Required:
The typical yearly revenue generated per franchise location.
Average Revenue:
The middle value of yearly revenue among franchise locations.
Median Revenue:
The largest reported annual revenue among franchisees.
Highest Revenue:
The smallest reported annual revenue among franchisees.
Lowest Revenue:
A broad sector defining similar types of franchise businesses.
Industry:
A more specific division within the broader industry.
Category:
The key individuals guiding the franchise’s strategy and growth.
Leadership:
The official business address of the franchisor’s headquarters.
Corporate Address:
Available financing options to help start the franchise.
Funding Year:
The main organization that owns the franchise brand.
Parent Company:
Mobility Plus Showroom & Mobile Franchise Unit Growth Summary
A breakdown of corporate, franchised, and total units, with yearly net changes.
Total Units
Franchised Units
Corporate Units
| Units | 2020 | 2021 | 2022 |
|---|---|---|---|
| Total Units | 0 | 0 | 0 |
| Net Change YoY | 0 | 0 | |
| Franchised Units | 0 | 0 | 0 |
| Net Change YoY | 0 | 0 | |
| Corporate Units | 0 | 0 | 0 |
| Net Change YoY | 0 | 0 |
Investment Overview
The Mobility Plus Showroom & Mobile franchise offers an appealing investment opportunity with a low initial investment ranging from $125,188 to $221,188. The franchise fee is set at $29,500, with ongoing royalty and marketing fees of 7% and 2%, respectively. To ensure financial stability, prospective franchisees need a cash requirement between $40,000 and $100,000 and a net worth of $100,000 to $500,000.
Revenue Potential
Franchisees can expect significant revenue potential, with average annual revenues per unit estimated at $1,300,000. The median annual revenue stands at $339,650, while the highest revenue recorded reaches up to $1,500,000. This diverse revenue range indicates the scalability of the franchise, appealing to both new and experienced investors.
Breakeven and Payback
The Mobility Plus franchise showcases a promising financial outlook with a breakeven time of approximately 18 months. Franchisees can expect to recoup their initial investment within 12 months, providing a relatively quick return on investment. This rapid payback period enhances the franchise's attractiveness for aspiring entrepreneurs.
Marketing Support
Franchisees benefit from a structured marketing support system, including a 2% marketing fee that contributes to local and national advertising campaigns. This investment helps to strengthen brand visibility and attract customers, ensuring franchisees have the resources needed to effectively promote their businesses in the community.
Operational Expenses
Understanding operational expenses is crucial for franchise success. Annual costs include local marketing ($1,500), insurance ($5,250), professional fees ($3,000), and technology fees ($4,788), among others. The total estimated annual running expenses amount to $86,582, allowing franchisees to budget effectively and maintain profitability.
Corporate Growth Strategy
As of 2022, the Mobility Plus franchise has not yet established franchised or corporate units. This presents a unique opportunity for early investors to join a brand poised for growth. As the franchise expands its footprint, early adopters may benefit from being part of a developing network, potentially leading to increased market share and brand recognition.
Frequently Asked Questions
The initial investment for a Mobility Plus franchise ranges from $125,188 to $221,188, which includes the franchise fee and other startup costs.