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AtWork Franchise ProfileBusiness Services Franchises > Staffing |
What is the Initial Investment for an AtWork Franchise?
To own an AtWork franchise, your initial investment ranges from $153,500 to $210,500. This includes a franchise fee of $40,000. It's important to have sufficient cash on hand, with a requirement of $66,000 to $102,500. Additionally, you must meet a net worth requirement of $250,000 to $500,000. Being financially prepared is crucial for navigating the startup phase effectively.
What Are the Ongoing Fees for AtWork Franchisees?
AtWork franchisees are subject to ongoing fees that include a royalty fee of 7% on gross sales and a marketing fee of 2%. These fees are essential for maintaining brand presence and ensuring ongoing support from the franchisor. Understanding these financial commitments is key to managing your franchise's profitability.
What is the Revenue Potential for AtWork Franchisees?
The average annual revenue per AtWork franchise unit is approximately $3,331,516, with a median annual revenue of $1,708,297. However, revenues can vary significantly, ranging from as low as $73,458 to as high as $33,467,109. This variance highlights the importance of location, management, and market conditions in determining your franchise's success.
How Quickly Can You Expect to Break Even with an AtWork Franchise?
Franchisees can expect to reach breakeven within 12 months of operation. The investment payback period is estimated at 24 months, making AtWork a relatively quick-return opportunity compared to other franchises. This timeline is crucial for potential franchisees to consider when evaluating their financial plans and expectations.
AtWork 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.
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AtWork Franchise Unit Growth Summary
A breakdown of corporate, franchised, and total units, with yearly net changes shown in the chart and table.
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| Units | 2021 | 2022 | 2023 |
|---|---|---|---|
| Total Units | 73 | 85 | 88 |
| Net Change YoY | 12 | 3 | |
| Franchised Units | 71 | 81 | 82 |
| Net Change YoY | 10 | 1 | |
| Corporate Units | 2 | 4 | 6 |
| Net Change YoY | 2 | 2 |
Investment Overview
The AtWork franchise offers a compelling investment opportunity with a low initial investment range of $153,500 to $210,500. The initial franchise fee is set at $40,000, and franchisees can expect ongoing royalty fees of 7% along with a 2% marketing fee. A cash requirement of $66,000 to $102,500 ensures that franchisees have the necessary liquidity to operate effectively.
Revenue Potential
The average annual revenue per AtWork unit is impressive, standing at approximately $3.33 million, with a median revenue of about $1.71 million. Franchisees can expect a wide revenue range, with the lowest annual revenue recorded at $73,458 and the highest at $33.47 million, indicating significant potential for profitability depending on location and management.
Financial Performance
AtWork units face a breakeven time of just 12 months, allowing franchisees to recover their initial investment relatively quickly. The average investment payback period is 24 months, providing a clear timeline for financial returns. However, it's essential to consider the average operating expenses, which can significantly impact profitability.
Corporate Structure
AtWork has shown steady growth in its franchise network, with 82 franchised units in 2023, up from 71 in 2021. The company also operates 6 corporate units, reflecting a balanced approach to franchise development and corporate ownership. This structure allows for effective support and oversight of franchisees.
Operating Expenses
Franchisees should be prepared for various annual operating expenses, which can range from $113,000 to $218,500. Key expenses include rent and utilities ($18,000 - $42,000), salaries ($60,000 - $120,000), and marketing efforts ($5,000 - $7,500). Understanding these costs is crucial for maintaining profitability and ensuring operational efficiency.
Franchise Support
AtWork provides comprehensive support to its franchisees, including training, marketing resources, and ongoing operational assistance. This support system is designed to help franchisees navigate the challenges of running a business and to maximize their chances of success in the competitive franchise landscape.
Frequently Asked Questions
The initial investment for an AtWork franchise ranges from $153,500 to $210,500, which includes the franchise fee, equipment, and other startup costs.