This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Buying a Cheap Franchise Can Get Expensive

2. The Grout Medic
Start-up minimum: $13,800
Steven Seabaugh, director of franchise development for tile and grout specialist The Grout Medic says for $13,800 an entrepreneur can get everything needed to buy a franchise, including tools, equipment, inventory and magnetic signage for vehicles.

But when all is said and done, Seabaugh says it will be more like $30,000.

On top of the franchise fees and training, new franchisees should allot about $2,000 for hotel, airline and spending during their week of training, $2,000 for office furniture, about $3,000 if they decide to finance a new car, $3,000 for operating capital and $6,000 for the first three months of local marketing, he says.

"You can be frugal and do it for under $30,000 ... but for $30,000 I feel extremely comfortable in talking to people about having a start-up," Seabaugh says.

The company emphasizes how quickly new franchisees take appointments -- after their week of training, upon returning to their territory, appointments have already been set up for them. "The very next week you can go out and start generating income," he says.

Grout Medic has about 35 franchisees, who are allowed to own more than one territory.
3 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
NATH $36.23 -2.24%
PZZA $76.23 0.82%
AAPL $126.60 0.94%
FB $86.91 1.34%
GOOG $521.84 0.26%

Markets

DOW 17,757.91 +138.40 0.79%
S&P 500 2,077.42 +14.31 0.69%
NASDAQ 5,013.1230 +26.2560 0.53%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs