Does the Crawlspace Medic initial investment estimate include the cost of custom vehicle wrapping?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
YOUR ESTIMATED INITIAL INVESTMENT
| Type of Expenditure | Amount | Method of Payment | When Due | To Whom Payment is Made | |
|---|---|---|---|---|---|
| Initial Franchise Fee1 | $59,000 | Lump sum payment in cash or available funds. | Upon signing the Franchise Agreement. | Payable to us | |
| Design and | $0 to | As incurred | Before opening | Third-Party Providers | |
| Architectural Fees2 | $3,000 | ||||
| Construction, Leasehold Improvements 2 | $0 to $20,000 | As incurred | Before opening | Contractor/Third-Party providers | |
| Furniture and | $1,000 to | As incurred | Before opening | Third-Party Providers | |
| Fixtures2 | $5,000 | ||||
| Equipment (Including | $10,000 to | Lump sum | Before opening | Third-party providers and | |
| Vehicle)3 | $53,000 | us | |||
| Signage (including | $600 to | As incurred | Before opening | Third-party providers or | |
| vehicle)4 | $3,000 | Us | |||
| CRM/Back Office | $2,500 to | Lump Sum | Before opening | Third-party providers | |
| System5 | $4,300 | ||||
| Initial Inventory6 | $0 to $800 | As incurred | Before opening | Payable to us | |
| Facility Occupancy | $0 to | As incurred | Before opening | Landlord | |
| Costs7 | $2,500 | ||||
| Lease, Utility, and | $1,300 to | As incurred | Before opening | Utility providers | |
| Security Deposits8 | $2,600 | ||||
| Insurance Deposits | $2,000 to | As arranged | Before opening | Insurance company | |
| and Premiums9 | $8,000 | ||||
| Pre-opening Travel and Training Expense10 | $5,000 to $10,000 | As incurred | Before opening | Airline, hotel, restaurants | |
| Initial Launch | $5,000 to | As incurred | Prior to opening | Third parties | |
| Marketing | $10,000 | ||||
| Professional Fees11 | $1,000 to $8,000 | As arranged | Before opening | Attorneys, accountants | |
| Business Permits and | $500 to | As incurred | Before opening | Licensing Authorities | |
| Licenses12 | $1,500 | ||||
| Office Equipment and | $1,000 to | As incurred | Before opening | Third-party providers | |
| Supplies13 | $1,500 | ||||
| Additional funds – 3 | $40,000 to | As incurred | After opening | Various | |
| Months14 | $60,000 | ||||
| TOTAL15 $118,900 to $242,200 |
Notes:
-
- The initial franchise fee is the same for all similarly situated franchisees. Refer to Item 5 of this Disclosure Document for available discounts
-
- This estimate is for the costs for the development of a Franchised Business with approximately 1,000 square feet of warehouse and office space, for the design and architectural fees and the furniture and fixtures for the same.The difference in the low and the high improvement cost estimates is due to the difference in size of the location. There are many variables that may impact your overall costs including landlord contribution, the size of your location, rates for construction, personnel, freight, vendor pricing and taxes, overall costs and efficiencies in your market. Your cost for developing your location may be higher or lower than the estimates provided.
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 16–20)
What This Means (2024 FDD)
According to Crawlspace Medic's 2024 Franchise Disclosure Document, the initial investment estimate does include the cost of custom vehicle wrapping. The table provided in Item 7 lists "Signage (including vehicle)" with an estimated cost between $600 and $3,000.
Note 3 in Item 7 clarifies that the equipment costs, ranging from $10,000 to $53,000, include the vehicle itself, the wrapping of the vehicle, and other associated costs. Crawlspace Medic requires franchisees to have a vehicle that meets the specifications outlined in the Operations Manual, and the vehicle must be wrapped according to their standards. The lower end of the equipment estimate assumes the franchisee already owns a suitable vehicle.
Note 4 in Item 7 specifically states that the signage estimate includes the cost to install custom vehicle wrapping on the business vehicle, which must be wrapped to Crawlspace Medic's specifications. Therefore, prospective franchisees should budget between $600 and $3,000 for vehicle signage, including wrapping, as part of their initial investment.