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Network In Action Franchise ProfileConsultant & Business Brokers > Business Coaching |
What is the Initial Investment for a Network In Action Franchise?
To open a Network In Action franchise, you will need to prepare an initial investment ranging from $37,710 to $42,700. This includes a franchise fee of $35,000, which is part of your startup costs. It's important to have cash on hand within this range to cover not just the franchise fee, but also any additional expenses that may arise during the launch phase.
What Are the Financial Performance Metrics for Network In Action?
Network In Action franchises have demonstrated an average annual revenue of $72,543 per unit, with a median revenue of $56,439. The financial performance can vary significantly, with the lowest recorded annual revenue at $10,737 and the highest at $303,376. Understanding these figures can help you gauge potential profitability and make informed decisions about your investment.
What Are the Ongoing Fees and Requirements for Franchisees?
Franchisees are required to pay a royalty fee of 6% on their revenue, along with a marketing fee of 15%. Additionally, aspiring franchisees should meet a net worth requirement of between $100,000 and $500,000. Being aware of these ongoing fees and financial criteria is crucial for maintaining profitability and ensuring compliance with franchise standards.
What is the Expected Breakeven Time for Network In Action Franchisees?
The breakeven time for a Network In Action franchise is approximately 12 months, with an investment payback period of just 9 months. This relatively quick return on investment can be attractive for potential franchisees, indicating that with the right approach, you could start seeing profits in less than a year after opening your franchise.
Network In Action 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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Network In Action 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 | 6 | 6 | 6 |
| Net Change YoY | 0 | 0 | |
| Franchised Units | 3 | 3 | 3 |
| Net Change YoY | 0 | 0 | |
| Corporate Units | 3 | 3 | 3 |
| Net Change YoY | 0 | 0 |
Investment Overview
The Network In Action franchise offers a low initial investment range of $37,710 to $42,700, making it accessible for aspiring entrepreneurs. The initial franchise fee is set at $35,000, with ongoing royalty fees of 6% and a marketing fee of 15%. This structure provides a solid foundation for franchisees to establish their business while benefiting from corporate support and brand recognition.
Financial Performance
Franchisees can expect average annual revenue of $72,543 per unit, with a median revenue of $56,439. The range of annual revenue varies significantly, from $10,737 to $303,376, highlighting the potential for profitability within the franchise. The breakeven time is approximately 12 months, and investment payback is estimated at just 9 months, which is attractive for new franchisees looking to recoup their initial investment quickly.
Franchise Growth
Network In Action has demonstrated steady growth, maintaining a consistent number of franchised and corporate units over the past three years. Each year from 2021 to 2023, there have been 3 franchised units and 3 corporate units, totaling 6 units annually. This stable growth indicates a solid foundation for franchisees considering joining the network.
Required Financials
To qualify for a Network In Action franchise, potential franchisees must have a net worth ranging from $100,000 to $500,000. This requirement ensures that franchisees have the financial stability to support their business operations and growth. Additionally, a cash requirement of $37,710 to $42,700 is necessary to cover initial startup costs.
Operational Insights
While specific financial metrics such as cost of goods sold and operating expenses are not disclosed, the average annual revenue suggests a viable business model. Franchisees should anticipate general and administrative expenses, contract labor, and salaries, which are typical in the industry. Understanding these operational costs is crucial for maintaining profitability and effective financial management.
Franchise Support
Network In Action provides comprehensive support for its franchisees, enabling them to navigate the challenges of business ownership. This support includes training, marketing resources, and ongoing assistance, which are essential for new franchisees to establish their operations successfully. The franchise's commitment to its franchisees fosters a collaborative environment aimed at mutual growth and success.
Frequently Asked Questions
The initial investment for a Network In Action franchise ranges from $37,710 to $42,700, which includes a franchise fee of $35,000.