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Description
Investment Icon

What Are the Initial Investment Requirements for an N-Hance Franchise?

To open an N-Hance franchise, you should be prepared for a total initial investment ranging from $70,695 to $194,995. This includes a franchise fee of $22,500. Additionally, potential franchisees must have a net worth between $100,000 and $1,000,000 and should have cash readily available within the same range. Understanding these financial commitments is crucial before diving into the franchise business.

Fees Icon

What Ongoing Fees Should N-Hance Franchisees Expect?

N-Hance franchisees are required to pay a royalty fee of 2% on their gross sales. There is also a marketing fee of 5% to support brand promotion and visibility. These ongoing fees are essential for maintaining the franchise’s operational standards and ensuring consistent marketing efforts, which can significantly impact profitability.

Revenue Icon

What Are the Financial Performance Metrics for N-Hance Franchise Units?

On average, N-Hance franchise units generate an annual revenue of approximately $580,355, with a median revenue of $210,259. The lowest reported annual revenue per unit is $78,420, while the highest can reach up to $4,616,614. With a breakeven time of about 14 months and an investment payback period of 18 months, these metrics indicate a potentially lucrative opportunity for franchisees.

Breakeven Icon

What Support and Training Does N-Hance Offer Franchisees?

N-Hance provides comprehensive training and ongoing support to franchisees, which is crucial for success in the home improvement industry. Franchisees receive guidance on operations, marketing strategies, and customer service practices. This support system is designed to equip franchise owners with the necessary tools to effectively manage their business and maximize profitability, making it an attractive option for aspiring entrepreneurs.

N-Hance 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.

Net Worth Required icon The minimum total assets (minus liabilities) you must possess.

i Net Worth Required:

$100,000 - $1,000,000
Investment Payback icon The estimated period to recoup your total investment.

i Investment Payback:

18 Months
Franchise Fee icon The initial fee paid to join the franchise system.

i Franchise Fee:

$22,500
Royalty Fee icon Ongoing percentage of revenue paid to the franchisor.

i Royalty Fee:

2%
Marketing Fee icon Regular contribution toward the franchise’s advertising fund.

i Marketing Fee:

5%
Breakeven Time icon The estimated timeframe to recover your initial costs.

i Breakeven Time:

14 Months
Initial Investment icon The total amount required to launch the franchise.

i Initial Investment:

$70,695 - $194,995
Cash Required icon The minimum liquid capital you must have on hand.

i Cash Required:

$70,695 - $194,995
Average Revenue icon The typical yearly revenue generated per franchise location.

i Average Revenue:

$580,355
Median Revenue icon The middle value of yearly revenue among franchise locations.

i Median Revenue:

$210,259
Highest Revenue icon The largest reported annual revenue among franchisees.

i Highest Revenue:

$4,616,614
Lowest Revenue icon The smallest reported annual revenue among franchisees.

i Lowest Revenue:

$78,420
Industry icon A broad sector defining similar types of franchise businesses.

i Industry:

Home Based Franchises
Category icon A more specific division within the broader industry.

i Category:

Home Repair Services
Leadership icon The key individuals guiding the franchise’s strategy and growth.

i Leadership:

Bob DeGraff
Corporate Address icon The official business address of the franchisor’s headquarters.

i Corporate Address:

124 12th Ave. South, Suite 300, Nashville, Tennessee 37203
Funding Year icon Available financing options to help start the franchise.

i Funding Year:

2013
Parent Company icon The main organization that owns the franchise brand.

i Parent Company:

Belfor Franchise Group

N-Hance Franchise Unit Growth Summary

A breakdown of corporate, franchised, and total units, with yearly net changes.

The overall number of operating franchise locations.

Total Units i

288
The number of locations owned by independent franchisees.

Franchised Units i

288
The number of locations owned and run by the franchisor.

Corporate Units i

0
Units 2021 2022 2023
Total Units 381 315 288
Net Change YoY -66 -27
Franchised Units 381 315 288
Net Change YoY -66 -27
Corporate Units 0 0 0
Net Change YoY 0 0
Investment About

Investment Overview

The N-Hance franchise offers a low initial investment ranging from $70,695 to $194,995, making it an accessible option for aspiring entrepreneurs. With a franchise fee of $22,500, franchisees can enter the market with a manageable financial commitment. The cash required to start ranges from $70,695 to $194,995, ensuring that potential owners can gauge their financial capabilities before diving in.

Potential About

Revenue Potential

N-Hance franchises have demonstrated strong revenue potential, with an average annual revenue per unit of $580,355. This figure highlights the brand’s ability to generate income, providing franchisees with a solid foundation for profitability. The median annual revenue stands at $210,259, while the highest reported annual revenue reaches an impressive $4,616,614, showcasing the scalability of the business model.

Metrics About

Ongoing Fees

Franchisees are required to pay a royalty fee of 2% of gross sales, in addition to a marketing fee of 5%. These ongoing fees contribute to the overall operational support and brand visibility that N-Hance provides. Understanding these costs is crucial for franchisees as they plan their financial strategies and budget for operational expenses.

Fees About

Financial Performance

The N-Hance franchise boasts a breakeven time of 14 months and an investment payback period of 18 months. These metrics are essential for potential franchisees to consider, as they indicate the speed at which they can expect to recover their initial investment and start seeing profits. The financial performance data underscores the brand's strong market position and operational efficiency.

Breakeven About

Franchised Units Growth

N-Hance has shown a consistent presence in the franchise market with a total of 288 franchised units in 2023. This represents a slight decline from 381 units in 2021, indicating a need for strategic growth initiatives. Despite this reduction, the franchise remains a viable option for investors looking to enter a well-established brand with a proven track record.

Units About

Operational Costs

Franchisees can expect various operational costs, with total annual expenses ranging from $6,850 to $37,500. Key expense categories include rent, insurance, advertising, and additional funds for initial operations. Understanding these costs is vital for franchisees to maintain profitability and ensure smooth operations from the outset.

Frequently Asked Questions

The initial investment for an N-Hance franchise ranges from $70,695 to $194,995, which includes the franchise fee and other startup costs.