What is the estimated range for the first year of insurance coverage for a Belocal franchise?
Belocal Franchise · 2025 FDDAnswer from 2025 FDD Document
| Type of Expenditure | Amount | Method of | When Due | To Whom |
|---|---|---|---|---|
| Low – High | Payment | Payment Is to Be Made | ||
| Initial Franchise Fee (1) | $735 | As Arranged | Execution of Franchise Agreement | Us |
| Office Furniture & | $0 to $2,650 | As Arranged | Before |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 31–33)
What This Means (2025 FDD)
According to Belocal's 2025 Franchise Disclosure Document, the estimated cost for insurance coverage for the first year ranges from $400 to $650. This figure represents the cost of insurance premiums for one year. Belocal requires franchisees to obtain and maintain a minimum amount of insurance, as specified in Item 8 of the FDD. Prospective franchisees will pay this cost as a lump sum before opening their Belocal franchise to an insurance broker or agent.
The actual cost of insurance may vary depending on several factors. These include the location of the franchised business, the franchisee's experience with the insurance carrier, and the loss experience of the carrier. These factors are beyond Belocal's control, so franchisees should check with their local insurance carrier for precise costs.
It is also advisable for prospective Belocal franchisees to consult with their insurance agent or broker about any additional insurance coverage they may want to carry above the minimum requirements set by Belocal. This will ensure they have adequate protection for their specific business circumstances.