| Franchise Aplication | | Franchise Overview | | Industry Overview | | Pictures | | Store Layout | | Investment | | Sample programs |
| Expenditure | Amount |
Method of Payment | When pament is due |
To Whom payment is to be made |
|---|---|---|---|---|
| Initial Franchise Fee | $34,500 | Two Installments |
On submitting the price guarantee and invitation and on signing the Franchise Agreement (see item 5) |
Express Financial Centers (see note 1) |
| Real Property (see note 2) |
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Leasehold Improvements (see note 3) (see note 4) | $10,000=$20,000 | As incurred | As arranged | Contractors and Suppliers |
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Exterior Signage (see note 4) | $1000-$4,000 | Lump Sum | As arranged | Contractors and Suppliers |
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Furniture and Fixtures (see Note 4) | $10,000-$40,000 | Lump Sum | As Arranged |
Contractors and Suppliers |
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Cash Registers and Computer Systems (see note 4) ( See note 5) | $3,500-$9,500 | Lump Sum | As Arranged |
Contractors and Suppliers |
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Opening Inventory (See Note 6) | $35,000-$100,000 |
| As Arranged |
Contractors and Suppliers |
| Opening Advertising | $2,500-$5,000 | As Incured | As Arranged |
Local Advertising Agency, Providers of Media |
| Initial Training(See Note 8) | $100-$1,000 | As Incurred | As Arranged | THird Parties |
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Cellular Phone Opening Inventory (see Note 9) | $0-$2,000 | Lump Sum | As arranged | Service Providers |
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Additional Funds- 3 months (See Note 10) | $3,000-$10,000 | As Incurred | As Incurred | Third Parties |
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Attorney Fees, Business Licenses, State fees | $1,000-$7,500 | As Incurred | As Incurred | Third Parties |
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TOTAL ESTIMATED INITIAL INVESTMENT (exclusive of real estate and realted costs): $45,600 to $89,500. | |
| Note 1 |
If you and we are unable to mutually agree on a location or a protected area with one year after the Franchise Agreement is signed, either party may terminate the Franchise Agreement effective upon notice. In the event of such a termination, we will refund, without interest, the portion of the initial franchise fee you have paid (less any expenses), provided you and your Owners sign a general release in form and substance satisfactory to us. |
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| Note 2 |
The total estimated initial investment does not include the cost of real estate or constructing a building. The cost of purchasing a site and constructing a building for a Express Financial Center Business will vary considerably, depending on such factors as location, size and the local real estate market. We are unable to estimate these costs. We anticipate that a Express Financial Center Business typically will not require the building of a new structure, but instead will be developed in an existing structure with approximately 1,000-1,500 square feet. |
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| Note 3 |
This item reflects our estimate of leasehold improvements for developing a Express Financial Center Business in an in-line location leased from a third party. These costs may vary significantly due to factors such as: (1) the size and condition of the existing structure, (2) material and labor costs, (3) the nature of the previous tenant, (4) the configuration of the premises, and (5) the geographic location of the Business. We are unable to estimate typical leasing costs or tenant allowances for improvements, which will vary considerably, depending on the size, condition and location of the premises and local real estate market conditions. Landlord in some cases pay for a portion or all of these costs. |
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| Note 4 |
If you and we sign a Project Management Agreement (Exhibit C), you will not be required to make payments as part of your initial investment for Leasehold Improvements, Exterior Signage, Furniture and Fixtures, and Cash Registers and Computer Systems, which will be provided to you in connection with the Project Management Agreement. The estimated fee in connection with the Project Management Agreement will vary depending on a variety of factors including the size of the location, the condition of the leasehold, improvements, the equipment package, and the distance from suppliers of equipment, as well as other factors. In general, we expect that the fee will fall within the range of the sum of the estimated fees for Leasehold Improvements, Exterior Signage, Furniture and Fixtures, and Cash Registers and Computer Systems, included in the table above. |
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| Note 5 |
Each teller station costs about $2,000 for the computer system depending on options ordered. Most stores would start with two computer systems buying added stations as needed. An additional $1,000 should be budgeted for a general computer system. $500 should be budgeted for a printer. |
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| Note 6 |
Your opening inventory will primarily consist of cash that you will use to make loans and cash checks. |
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| Note 7 |
This item covers the minimum amount required for opening advertising. |
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| Note 8 |
This item includes the costs of transportation, lodging and food while you attend training. |
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| Note 9 |
If you sell cellular phones this covers the cost of the estimated opening inventory. |
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| Note 10 |
This is an estimate of certain pre-opening expenses not covered in other items, as well as working capital requirements for the first 3 months of operations (in addition to the cash inventory described above). Pre-opening expenses include such items as professional fees, organizational expenses, and salaries for employees during the 30-day period before opening. Working capital for the first 3 months includes general operating expenses, such as lease payments, payroll, payroll expenses, facility expenses, insurance, security and repairs and maintenance. These figures are estimates and we cannot assure you that you will not have additional expenses in starting the business. Your actual cost will depend on factors such as your management skill, experience and business acumen; local economic conditions; the local market for the business; the prevailing wage rate; competition in the market place; and the sales level reached during the start-up phase. These amounts do not include any estimates for debt service or owners salary. |
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Except as otherwise noted, none of these payments are refundable. These paymnets are only estamates and your costs may be hightr, depending on your particular circumstances. You should review these figures carefully with a business advison, accountant or attorney before making any decision to purchase a franchise. We do not offer any financing fore your original investment. The availability and terms of financing with third-party lenders will depend on factors such as the availability of financing generally, your credit-worthness and policise of lending intuitions concerning the type of business to be oppened. | |