What Are The Startup Costs For a TeamLogic IT Franchise?
How much does it take to start Franchise Business Review’s top-rated technology franchise?
Startup costs for TeamLogic IT, which has been named Franchise Business Review’s top technology franchise for five years in a row (2012, 2013, 2014, 2015 and 2016), range from $104,750 to convert an existing business to $143,300 to launch a new franchise.
That includes a $40,000 to $45,000 franchise fee that pays for the rights to operate as part of the brand; a week of intensive training at TeamLogic IT University; the creation of marketing, advertising and collateral material, as well as radio scripts; the creation of a local website for your business; a vetted list of 1,500-2,000 businesses within your territory that match the criteria for an ideal client; and access to our Business Management Software System for accessing a library of technical and business knowledge, and reaching out to other TeamLogic IT owners and technicians for troubleshooting support. TeamLogic IT also uses part of the fee to fund the first three months of local marketing for your business, which gives you time to focus on operations during your startup phase.
Because our veterans have already proven their capacity for leadership and following systems and processes, TeamLogic IT is pleased to offer, through our partnership with VetFran, $5,000 off the initial franchise for any honorably discharged or retired military veteran who desires to fulfill their dream of entrepreneurship. This offer makes helps to make TeamLogic IT an especially affordable opportunity for our country’s brave men and women, who have given so much in the way of service to our nation.
We look for candidates with liquidity of $50,000 and a net worth of $300,000.
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 |
|---|---|---|---|---|
| Total Estimated Initial Investment | $104,750 to $143,300 | |||
| Initial Franchise Fee | $40,000 to $45,000 | Lump sum | Upon execution of the franchise agreement | Us |
| Software Fee | $2,100 to $3,500 (subject to change) | Monthly Lump Sum | Prior to Opening for Business | Us & Approved Outside Vendors |
| QuickBooks Online | $100 - $150 per month | Per Vendors Direction | Prior to Opening for Business | Pay Vendor Directly |
| Vehicle Lease and Graphics Package (Optional) | $0 to $350 (lease)/ $100 to $3,000 | Lease payment/ Lump sum | As agreed | Approved outside vendor |
| Initial Equipment | From $3,000 to $5,000 | Lump sum | Prior to Opening for Business | Various outside suppliers |
| Real Estate Leasehold Improvements | Monthly rent: $750 - $1,500 | As incurred | As agreed | Lessor |
| Additional Funds 6 to 8 months | $58,700 to $84,800 | As incurred | As agreed | Various |