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101 Mobility Franchise ProfileHealthcare & Senior Care > Home Healthcare |
Initial Investment for a 101 Mobility Franchise
To become a franchisee with 101 Mobility, you’ll need to prepare for an initial investment ranging from $135,790 to $258,620. This includes a franchise fee that varies between $50,000 and $100,000. It's essential to ensure you have sufficient cash reserves, as the total cash required aligns with the overall investment range. Additionally, a net worth of $100,000 to $200,000 is necessary to qualify for this opportunity.
Ongoing Fees and Financial Commitments
As a 101 Mobility franchisee, you will be responsible for ongoing fees, including a royalty fee of 7% on your gross revenue and a marketing fee of 2%. These fees are crucial for maintaining brand standards and supporting marketing efforts, which can help drive customer traffic to your unit. Understanding these financial commitments is vital for effective budgeting and financial planning as you embark on your franchise journey.
Revenue Potential of a 101 Mobility Franchise
The average annual revenue per unit for a 101 Mobility franchise is approximately $1,325,000, with a median revenue of $1,010,712. While revenue can vary significantly, with the lowest reported annual revenue at $171,181 and the highest at $2,514,213, the potential for profitability is substantial. This revenue potential highlights the business's viability and can be a key factor in attracting aspiring franchisees.
Breakeven and Investment Payback Period
Franchisees can expect to reach breakeven within 12 months of operation, which is a positive indicator of the business's cash flow potential. Additionally, the investment payback period is also estimated at 12 months, making this franchise opportunity attractive for those looking for a quicker return on their investment. Understanding these timelines can help you set realistic financial expectations and operational goals as you start your franchise.
101 Mobility 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:
101 Mobility Franchise Unit Growth Summary
A breakdown of corporate, franchised, and total units, with yearly net changes.
Total Units
Franchised Units
Corporate Units
| Units | 2020 | 2021 | 2022 |
|---|---|---|---|
| Total Units | 170 | 171 | 181 |
| Net Change YoY | 1 | 10 | |
| Franchised Units | 154 | 155 | 165 |
| Net Change YoY | 1 | 10 | |
| Corporate Units | 16 | 16 | 16 |
| Net Change YoY | 0 | 0 |
Initial Investment
The 101 Mobility franchise requires a low to moderate initial investment, ranging from $135,790 to $258,620. This includes a franchise fee between $50,000 and $100,000, making it accessible for aspiring entrepreneurs looking to enter the mobility solutions market.
Ongoing Fees
Franchisees are subject to a royalty fee of 7% on gross sales and a marketing fee of 2%. These fees contribute to the overall support and resources provided by the franchisor, helping franchisees effectively promote their businesses and maintain operational standards.
Revenue Potential
The average annual revenue per unit for a 101 Mobility franchise is approximately $1,325,000, with a median revenue of $1,010,712. This strong revenue potential highlights the demand for mobility solutions and the franchise's ability to capture market share.
Breakeven and Payback
Franchisees can expect to break even within 12 months of operation, with an investment payback period also estimated at 12 months. This quick return on investment is appealing to many entrepreneurs, reducing the financial risk associated with starting a new business.
Franchise Growth
The 101 Mobility franchise has shown consistent growth, with 165 franchised units in 2022, up from 154 in 2020. This upward trend indicates a strong brand presence and increasing demand for mobility solutions across various markets.
Operational Expenses
Average running expenses for a 101 Mobility franchise include rent and utilities ranging from $20,000 to $50,000, marketing costs of $9,000 to $11,000, and employee salaries between $20,000 and $50,000. Understanding these costs is crucial for franchisees to manage their budgets effectively and optimize profitability.
Frequently Asked Questions
The initial investment for a 101 Mobility franchise ranges from $135,790 to $258,620, which includes the franchise fee and other startup costs.