What is the maximum estimated cost for a Bor Restoration business vehicle and wrap?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
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| Type of Expenditure | Amount | Method of | When Due | To Whom Payment is to be |
|---|---|---|---|---|
| (Note 1) | Payment | Made | ||
| IFF | $44,000 | Lump sum | At the signing of Franchise Agreement. | Us |
| Opening Package | $127,000 | Lump-sum | At the signing of the Franchise Agreement. | An Approved Vendor, An Affiliate, or Us. |
| BOR Software | $3,999 | Lump-sum | At the signing of the Franchise Agreement. | Us. |
| Technology | $2,995 | Lump-sum | At the signing of the Franchise Agreement. | Us. |
| Startup Fee | ||||
| Rent and Rental | $0 to $300 | As incurred | Before opening. | Landlord. |
| Improvements | ||||
| (Note 2) | ||||
| Office Furniture, | $0 to $300 | As incurred | Before opening. | Vendors. |
| Fixtures, and | ||||
| Equipment (Note | ||||
| 2) | ||||
| Microsoft Office | $174 | As incurred | Before opening. | Approved Vendor. |
| 365 and Constant | ||||
| Contact (Note 3) | ||||
| Initial Training Expenses (Note 4) | $1,000 to $2,500 | As incurred | Before training. | Airlines, Hotels, Restaurants. |
| Business Vehicle and Wrap (Note 5) | $1,000 to $35,000 | As incurred | Before opening. | Vendor. |
| Business Vehicle | $0 to $1,500 | As incurred | Before opening. | State or Local Government. |
| Tax, Title, and | ||||
| License (Note 5) | ||||
| Business Vehicle | $500 to $1,000 | As incurred | Before opening. | Insurer. |
| Insurance (Note 5) | ||||
| Grand Opening Cost (Note 6) | $500 | As incurred | Before opening. | Advertiser. |
| Insurance and | $4,750 to $5,200 | As incurred | When incurred. | Professionals. |
| Professional | ||||
| Services (Note 7) | ||||
| Additional Funds - 3 months (Note 8) | $9,000 to $15,000 | As incurred | When incurred. | Used for your personal expenses as needed. |
| TOTAL (Note 9) | $194,918 to $239 |
Source: Item 7 — (FDD pages 15–18)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, the estimated initial investment for a business vehicle and wrap ranges from $1,000 to $35,000. This cost is expected to be incurred before opening and is paid to a vendor. The FDD also states that the final cost for the business vehicle will depend on the model chosen, its age and condition, and the franchisee's location, and that the cost could be substantially more than the estimate.
Bor Restoration requires franchisees to have a late model truck, such as a one-quarter-ton pickup or equivalent, and a fourteen-foot enclosed trailer or box truck. The vehicle may be used but no more than ten years old and free from body damage and rust. It must also be bright white. The vehicle must be wrapped with Bor Restoration's approved package, which costs at least $1,000 and must be purchased from their approved vendor.
Prospective franchisees should consider the wide range in this estimate when planning their initial investment. The condition and type of vehicle selected will greatly impact the overall cost. It is important to research vehicle options and obtain quotes for the wrap from the approved vendor to refine this estimate. Franchisees should also factor in potential additional costs beyond the $35,000 upper estimate to account for unforeseen expenses or the need for a higher-end vehicle.