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Screenmobile Franchise ProfileHome Based Franchises > Home Repair Services |
What Are the Initial Investment Requirements for a Screenmobile Franchise?
To open a Screenmobile franchise, you will need to prepare for an initial investment ranging from $161,049 to $222,592. This includes a franchise fee of $49,500. It's essential to have a cash reserve within the same range to cover startup costs. Additionally, potential franchisees must meet a net worth requirement of $250,000 to $500,000, ensuring they have the financial stability to support their new business venture.
What Are the Ongoing Fees Associated with a Screenmobile Franchise?
Franchisees of Screenmobile are required to pay a royalty fee of 7% on their gross sales, along with a marketing fee of 4%. These ongoing fees are crucial for maintaining brand standards and supporting marketing efforts that drive customer traffic. Understanding these costs is vital for budgeting and ensuring your franchise remains profitable in the long term.
What Is the Average Revenue Potential for a Screenmobile Franchise?
Screenmobile franchises have the potential to generate significant revenue, with an average annual revenue per unit of $432,423. The median revenue stands at $302,780, while some units report revenues as low as $18,925 and as high as $3,002,951. This wide range highlights the importance of location, management, and market demand in determining financial success.
What Is the Breakeven Timeline for a Screenmobile Franchise?
New Screenmobile franchisees can expect to reach breakeven within approximately 24 months of operation. This timeline is crucial for planning your financial strategy and understanding when your investment may start to yield returns. Additionally, the investment payback period aligns with this breakeven timeframe, indicating that careful management and operational efficiency can lead to profitability relatively quickly.
Screenmobile 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:
Screenmobile Franchise Unit Growth Summary
A breakdown of corporate, franchised, and total units, with yearly net changes.
Total Units
Franchised Units
Corporate Units
| Units | 2021 | 2022 | 2023 |
|---|---|---|---|
| Total Units | 129 | 141 | 145 |
| Net Change YoY | 12 | 4 | |
| Franchised Units | 128 | 140 | 145 |
| Net Change YoY | 12 | 5 | |
| Corporate Units | 1 | 1 | 0 |
| Net Change YoY | 0 | -1 |
Investment Overview
The Screenmobile franchise offers a relatively low initial investment ranging from $161,049 to $222,592. The initial franchise fee is set at $49,500, with ongoing royalty and marketing fees of 7% and 4% of gross sales, respectively. Potential franchisees should be prepared to meet a net worth requirement between $250,000 and $500,000 to ensure adequate financial backing for their business operations.
Financial Performance
Average annual revenue for a Screenmobile unit stands at $432,423, with a median revenue of $302,780. However, revenue can vary significantly, with the lowest reported annual revenue at $18,925 and the highest reaching an impressive $3,002,951. This performance highlights the potential for strong earnings, although individual results may vary based on location and management.
Breakeven and Payback
Franchisees can expect to reach breakeven within approximately 24 months, making the Screenmobile franchise an appealing option for those looking for a quicker return on investment. Additionally, the investment payback period is also estimated at 24 months, allowing owners to recoup their initial investment in a relatively short timeframe.
Franchise Growth
The Screenmobile franchise has shown steady growth in its number of franchised units, increasing from 128 in 2021 to 145 in 2023. This growth indicates a healthy demand for mobile screen repair services, as well as the brand’s ability to attract and support new franchisees in the market.
Operational Insights
Franchisees face various operating expenses, with total average running expenses estimated at $45,792 annually. Key expenses include marketing and advertising at $22,500, utilities at $2,500, and insurance at $12,000. Understanding these costs is crucial for effective budgeting and financial planning within the franchise.
Brand Recognition
Screenmobile has established itself as a leader in the mobile screen repair industry, providing a unique service that meets consumer needs for convenience and quality. With a focus on customer satisfaction and a commitment to excellence, the brand has built a strong reputation, making it an attractive option for aspiring franchise owners looking to enter a growing market.
Frequently Asked Questions
The initial investment for a Screenmobile franchise ranges from $161,049 to $222,592, which includes the franchise fee and other startup costs.