Franchise Costs and Fees FAQs
Everybody wants to know about the fees and costs involved with buying a franchise. It’s one of the most asked questions without a doubt.
And it is for a very good reason: You have worked hard for your money, and now you want your money to work hard for you.
If you are reading this page, there is a good chance you know that you have to spend money to make money. There is also a good chance that you are willing and wanting to do this, IF you find the right opportunity.
If you are interested in learning more about franchise costs, the different fees involved with opening your own NTY Franchise resale franchise, or if you are just curious about how much it costs to own and operate your own franchise, please feel free to watch the video below.
If you prefer reading the text to watching the video, or if you would like to follow along while you watch, we have provided the transcription below. As always, please do feel free to arrange a phone call with us at your convenience to answer any additional questions.
Jim Wollman: We attract people from all walks of life, interests, backgrounds, and so on.
One thing in common is we do have a tendency to attract people who want to set up a serious business with a serious cash on cash return on investment.
It takes money to make money
Now if you want to have a bigger square footage home, you will have to pay more for that home. It’s the same thing in small businesses. We don’t set our investment levels for these businesses any higher than what is actually required to operate at a much higher level than any other kind of mom and pop business or resale business.
In fact, I have been doing this for 25 years, and have worked with hundreds of people and I can tell you that I have talked to people who have set up their own consignment stores or have done businesses outside of franchises.
Work smarter, not harder, to maximize the return on your investment
They work hard, and they are smart people who are driven to succeed but after years of blood sweat and tears, they are feeling good if they can achieve 200+k in sales revenue.
But most of our stores in our systems are doing between a half a million to a million in sales volume with the top performers exceeding a million dollars a year, with some exceeding 1.7M. So when I say that we are operating a much higher level, those are the numbers.
Now of course there are exceptions to what I am saying, but overall, we are playing at a much higher level with a much bigger expectation of sales and profitability. But this requires a more stout investment.