What does Beard Papas estimate the insurance deposit to be equal to?

According to Beard Papas's 2025 Franchise Disclosure Document, the estimated initial insurance deposit is equal to three months of monthly insurance premium payments. This deposit is required to obtain the minimum required insurance coverage. The FDD also states that the actual payments for insurance and the timing of those payments will be determined based on the agreement between the franchisee and their insurance company and agent.

For a prospective Beard Papas franchisee, this means they should budget for an initial insurance deposit equivalent to three months' worth of premiums. The estimated range for insurance deposits is between $500 and $4,000. It is important to note that this is just an estimate, and the actual cost may vary depending on the insurance company and the specific coverage required.

Beard Papas recommends consulting with an insurance agent before signing the Franchise Agreement to get a more accurate estimate of insurance costs. This will help the franchisee to better prepare their initial investment and budget accordingly. Understanding the insurance requirements and costs is a crucial step in evaluating the financial feasibility of opening a Beard Papas franchise.