How Much Does Starting a Benjamin Franklin Plumbing Franchise Cost?
Opening a Benjamin Franklin Plumbing franchise means having the opportunity to experience the significant upside of our business management, resources, and other tools. While the advantages of opening a Benjamin Franklin Plumbing franchise are many, the costs aren’t so much!
The cost of converting an existing business is between $37,556 - $204,261 and starting a new company requires an investment between $168,368 - $303,923.
Best of all, choosing to open a Benjamin Franklin Plumbing location is easier thanks to how quickly you can start operating your business. In many cases, franchise owners can start helping their community receive quality plumbing services within just 30 days of training. This makes the delay between your initial investment and working to grow it as short as possible!
What Does It Take to Join Benjamin Franklin Plumbing?
We’ve designed a business model that works great for owners of plumbing companies who are looking to convert their business to a franchise. In many instances, owners of existing companies qualify for discounts on fees and other types of financial assistance. This means that taking your business to its next level is simple when you choose Benjamin Franklin Plumbing.
If you're an entrepreneur looking to start a new business, we’re ready to start a discussion that will help you decide if starting a plumbing company is right for your goals. You don’t have to be an industry veteran to start a successful Benjamin Franklin Plumbing location, and we’re ready to show you how we’ll help you get to work!
- $43,000 for a start-up franchise with a territory of up to 100,000 population.
- $12,900 - $38,700 if converting an existing plumbing business, depending on territory size and revenue.
We may finance up to 75% of the Franchise Fee to qualifying candidates when signing the Franchise Agreement. Please see FDD for details.
- Royalty Fee for a Start-up Franchise: Up to 6% of gross revenue or $1,500 per month, whichever is greater.
- Royalty Fee for a Conversion Franchise: 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: Brand Fee is 1.5% of gross revenue. This fee contributes to the development and recognition of the Benjamin Franklin Plumbing brand.
- Technology Fee: $325 - $525 per franchised business
Discounts for Veterans
As a member of the International Franchise Association, we proudly participate in the VetFran® program. Using this program, veterans can receive a 30% discount on their first franchise fee. To qualify, you must be an honorably discharged veteran of the American or Canadian armed forces.
Starting a Plumbing Franchise Is a Simple Process
One of the best parts about owning your plumbing business is the lower operational costs compared to businesses that require a retail location.
To make the costs of opening a Benjamin Franklin Plumbing franchise more manageable, many of our first-time owners opt for financing. Since starting a new company is an important decision, financing can help relieve some of the uncertainty many owners feel during the earliest days of operation. Financing also helps ensure that you’ll have the extra capital to cover the operational costs of your new business. Best of all, you don’t have to make financing decisions alone—we’re ready to work with you to discover the best options available to you.
Our plumbing franchise owners have used financing such as:
- SBA Loans: A type of loan provided by the United States Small Business Administration. These loans are backed by collateral and require franchisees to submit documentation regarding their new business and current financial information.
- Home equity loans: You might be able to use the equity of your home to start your new Benjamin Franklin Plumbing franchise! Home equity loans are often inexpensive and offer tax benefits.
- Retirement funds: If you have a retirement fund such as an IRA or 401(k), you might be able to use money from it without a penalty. To find out if this is an option for you, speak with a qualified financial advisor.
Let’s explore what the future looks like for you and your plumbing company. Call us now at (855) 880-4024 or fill our our simple online form to discover more about how much your new franchise will cost to start.