|
Remedy Intelligent Staffing Franchise ProfileEmployment & Staffing Franchises > Temporary Staffing |
What Are the Initial Investment Requirements for a Remedy Intelligent Staffing Franchise?
To open a Remedy Intelligent Staffing franchise, you can expect an initial investment ranging from $152,238 to $258,678. This includes a franchise fee of $39,950. Additionally, you will need to have a net worth of between $100,000 and $250,000 and sufficient cash on hand to cover the initial costs. Understanding these financial commitments is crucial for aspiring franchisees to ensure they are adequately prepared for the investment.
What Are the Ongoing Fees Associated with Remedy Intelligent Staffing?
Once you become a franchisee, you will be responsible for ongoing royalty and marketing fees. The royalty fee is set at 7% of your unit's gross revenue, while the marketing fee is 5.37%. These fees support the brand's national marketing initiatives and ongoing franchisee support, which are essential for maintaining a competitive edge in the staffing industry.
What Is the Average Revenue Potential for a Remedy Intelligent Staffing Franchise?
The average annual revenue per unit for a Remedy Intelligent Staffing franchise is approximately $462,891, with a median annual revenue of $240,000. However, revenues can vary significantly, with the lowest reported at $24,666 and the highest reaching an impressive $65,315,712. This revenue potential highlights the scalability of the business model and the importance of effective operational management.
How Quickly Can You Expect to Break Even with a Remedy Intelligent Staffing Franchise?
Franchisees can anticipate breaking even within about 12 months of operation, with an investment payback period of approximately 24 months. This relatively quick return on investment can be appealing for entrepreneurs looking to enter the staffing industry, as it suggests a potentially lucrative opportunity if managed effectively.
Remedy Intelligent Staffing 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:
Remedy Intelligent Staffing Franchise Unit Growth Summary
A breakdown of corporate, franchised, and total units, with yearly net changes.
Total Units
Franchised Units
Corporate Units
| Units | 2018 | 2019 | 2020 |
|---|---|---|---|
| Total Units | 69 | 74 | 75 |
| Net Change YoY | 5 | 1 | |
| Franchised Units | 69 | 74 | 75 |
| Net Change YoY | 5 | 1 | |
| Corporate Units | 0 | 0 | 0 |
| Net Change YoY | 0 | 0 |
Initial Investment
The initial investment to open a Remedy Intelligent Staffing franchise ranges from $152,238 to $258,678. This includes the franchise fee of $39,950 and other startup costs, making it accessible for aspiring entrepreneurs looking to enter the staffing industry.
Franchise Fees
Franchisees are required to pay a royalty fee of 7% on gross sales and a marketing fee of 5.37%. These fees contribute to the overall support and resources provided by the franchisor, helping franchisees effectively market their businesses and maintain operational standards.
Financial Performance
Remedy Intelligent Staffing franchises report an average annual revenue of $462,891. The financial metrics indicate a gross profit margin of 18.9%, with operating expenses accounting for 17.1% of revenue. This performance suggests a solid potential for profitability in the staffing sector.
Breakeven and Payback
Franchisees can expect to reach breakeven within 12 months of operation, with an investment payback period of approximately 24 months. This timeline is crucial for new investors to understand their return on investment and plan their financial strategy accordingly.
Franchise Growth
Since 2018, Remedy Intelligent Staffing has shown consistent growth in the number of franchised units, increasing from 69 in 2018 to 75 in 2020. This upward trend indicates a strong demand for staffing services and the brand's potential for expansion in various markets.
Corporate Structure
Remedy Intelligent Staffing operates under a franchise model with no company-owned units as of 2020. This structure allows franchisees to run their businesses independently while benefiting from the established brand and support systems provided by the franchisor.
Frequently Asked Questions
The initial investment for a Remedy Intelligent Staffing franchise ranges from $152,238 to $258,678, which includes the franchise fee of $39,950.