Understanding Your Franchise Investment
Naturally, if you’re considering entrepreneurship, finances are top of mind. Let’s break down the monetary information that details everything you need about becoming a franchise owner with The Covery Wellness Spa.
Entering any sort of business endeavor requires a thorough understanding of the support you can expect to receive, along with the expectations that you’ll meet. Because of this, we share investment information openly. You deserve to make the most informed decisions for your life, after all.
Cost of Owning a Covery Wellness Spa
Throughout the process of joining our network of friendly, knowledgeable professionals, there are ample opportunities to ask questions, receive advice from those who have been where you are, and make choices based on how much you want to put into your business from the start.
To start, the liquid capital required is $150,000.
While some fees are standard, like the initial franchisee fee of $39,500, others can vary dramatically. For example, your office lease. These costs change depending on the location of your business, along with the level of appeal you want in a space, and any cost not included in the rent. Since we’re a national franchise, our network extends throughout the country, and we understand the nuances of choosing your territory. We’re happy to help you decide where to set a base and the fees associated with it.
Other flexible expenditures to consider are:
- Technology and Equipment – There are oftentimes leasing options available to offset the cost.
- Marketing and Payroll – You choose how big your team is, and we offer superior marketing support.
- Supplies and Inventory – This will depend on the services you choose to provide customers.
- Furniture and Fixtures – How elegant and upscale are you hoping to be?
- Licensing and Insurance – These depend on local requirements and recurring fees, also reflecting the services you offer.
The best way to ensure that you’re spending your money in ways that will optimize your ROI is to have guidance. Rather than going into your business blind and trying to make decisions alone, we provide the training and resources you need to start and scale your new wellness spa.
*Pro Tip: As you research franchise ownership, check for any special pricing offered. At The Covery Wellness Spa, we are grateful to veterans for all they’ve done and the impact they make, which is why we’re proud to offer a 25% discount on the initial franchise fee for any veteran.