Opening a Benjamin Franklin Plumbing location gives you the best in business management, resources, and other tools to scale your business and deliver an experience unlike any of your competitors. With the heavy price tag associated with starting your own plumbing business from scratch, franchising proves to be a cost-effective solution for entrepreneurs looking to start their own journey in the world of plumbing.
What Are the Costs of Opening a Benjamin Franklin Plumbing Location?
The cost of opening a location comes in two forms, one being one-time fees paid upon agreement and the other being on-going fees, which are paid monthly.
Here’s a breakdown of the costs associated with opening a Benjamin Franklin franchise:
With your one-time fee, you’ll receive everything you need to start up a new plumbing company or convert an existing one. Whatever path you take, you’ll have access to the tools and ongoing support you need to reach your goals with a new plumbing franchise.
- Start-up Franchise Fee – $43,000 for a location with a territory of up to 100,000 population.
- Conversion Franchise Fee – $12,900 - $38,700 if converting an existing plumbing business, depending on territory size and revenue.
The on-going franchise fees provide use of the Benjamin Franklin branding, the start-up equipment needed, and access to an expert team of marketers to get a website up and running and expand your online presence.
- Royalty Fee for a Start-up Franchise Royalty Fee – Up to 6% of gross revenue or $1,500 per month, whichever is greater.
- Conversion Franchise Royalty Fee – A graduated plan that starts at 2% of gross revenues per month in Year 1 and increases to the greater of 6% or $1,500 per month in Year 4.
- Marketing Fee – This fee is dependent on your Gross Revenue and contributes to the development and recognition of the Benjamin Franklin brand, as well as local marketing efforts.
- Technology Fee – $600 - $1050 per franchised business which allows us to provide you with all the equipment needed to get things started.
Financing Options May Be Available
Not only are we able to get new franchise owners up and running in as little as 30 days, but we’ve also made it even easier to get started as soon as possible by offering a variety of financing options for qualified individuals. Our plumbing franchise’s financing sets up franchise owners for success, offering the extra capital needed to relieve stress in the earliest days of operation. Whatever your financial situation may be, we’re ready to work with you to discover the best financing option to give you the best chance to succeed.
Explore The Best in Plumbing Franchising
Now that you know about the costs associated with franchising a Ben Franklin location, you should have a better idea of if we’re a good choice for you! If you’re still not sure or have any questions, be sure to contact us online or give us a call to learn more. We’re always more than happy to learn about your goals and to see if we’re the best fit for each other!
Want to learn more about franchising with Benjamin Franklin Plumbing? Check out these other posts:
- Benjamin Franklin Plumbing Named Top Franchise By Entrepreneur’s Franchise 500
- The 4 Steps to Franchising with Benjamin Franklin
- The Plumbing Market is Growing — What Does That Mean For You?
- Why Benjamin Franklin Plumbing Values Our Franchisees' Exit Strategy