What Are the Startup Costs for a TeamLogic IT Franchise?
For life and business coaches looking for an affordable business opportunity, TeamLogic IT is a wise choice
If you’re ready to enter into a new career as business owner, it’s important to choose a brand that is not only affordable, but also has the opportunity for long-term growth potential. Forbes magazine recently named TeamLogic as the No. 4 low-cost franchise opportunity for 2019.
The total costs to invest in a TeamLogic IT franchise are $142,709 to launch a new franchise, and this cost includes a franchise fee, which ranges from $40,000 to $45,000. Your franchise fee gives you access to our training platform, marketing support, a vetted list of up to 2,000 small businesses in your area to reach out to, and access to our Business Management Software System, which is a library of resources of technical and business knowledge.
The minimum requirements to ownership are $50,000 in liquid capital and $300,000 in net assets.
For veterans: Through our partnership with VetFran, TeamLogic IT is proud to offer $5,000 off the initial franchise fee to honorably discharged veterans who have served our country.
Financing: While TeamLogic IT doesn’t offer financing directly, we do have access to third-party lenders who can counsel you through the process of securing financing.
Want a deeper dive into the costs & fees associated with owning a TeamLogic IT Franchise?
Here is a look at other startup costs, as outlined in the Item 7 section of our Franchise Disclosure Document.
|Investment||Amount||Method of Payment||When Due||To Whom Payment is Made|
|Initial Franchise Fee||$40,000 to $45,000||Lump sum||Upon execution of the franchise agreement||Us|
|Advertising Cooperative Association Fee||Ranges from $0-$500 monthly. Determined by local Advertising Cooperative Association (“ACA”). Optional||Defined by local ACA||We cannot form, change or dissolve an ACA without a majority vote of the ACA’s members. See Item 11. Paid directly to ACA.|
|Marketing||$2,000||Monthly, paid to various vendors||Monthly; paid to various vendors||You are required to spend a minimum of $2000 monthly for local marketing for the entire contract. Paid to various vendors.|
|Help Desk Service Fee||$1,200 (subject to change by vendor)||One-time set up/on- boarding fee||One time set-up fee if no lapse in use||Pay Vendor directly|
|E-Mail Hosting||Ranges from $3.36 to $16.80 per email user||Monthly||Monthly||Payable to approved outside vendor|
|Software Fee||$2,100 to $3,500
(subject to change)
|Monthly||Prior to Opening for Business||Us & Approved Outside Vendors|
||$100 - $150 per month||Per Vendors Direction||Prior to Opening for Business||Pay Vendor Directly
|VEHICLE LEASE AND GRAPHICS||$0 to $350 (lease)/ $100 to $3,000 (graphics)||Lease payment/ Lump sum||As agreed||Approved outside vendor|
|Initial Equipment||$4,125 to $7,400||Lump sum||Prior to Opening for Business||Various outside suppliers|
|Real Estate Leasehold Improvements||$750 - $1,500||As incurred||As agreed||Lessor|
|Additional Funds 10 to 12 months||$60,540 - $78,092||As incurred||As agreed||Various|
|Total Estimated Initial Investment||$110,918 to $142,709|