What is the estimated cost range for insurance premiums for a Kitchen Solvers franchise?
Kitchen_Solvers Franchise · 2025 FDDAnswer from 2025 FDD Document
YOUR ESTIMATED INITIAL INVESTMENT
| Type of Expenditure | Amount1 | Method of Payment | When Due | To Whom Payment is to be Made | |
|---|---|---|---|---|---|
| Initial Franchise Fee1 | $60,000 | Lump sum | Upon execution of Franchise Agreement | Us | |
| Pre-Opening | $2,000 to $3,000 | As Incurred | As Incurred | Third parties for travel | |
| Training3 | and living expenses | ||||
| Supplies Package4 | $5,900 | As incurred | Upon execution of Franchise Agreement | Us | |
| Local Marketing5 | $9,000 | As Incurred | As Incurred | Third Party Suppliers | |
| Rent/Leasehold | $0 to $4,500 | As incurred | As incurred | Landlord/Third Party | |
| Improvements6 | (Showroom) | Suppliers | |||
| Office Equipment & | $0 to $4,500 | As incurred | Before opening | Third-party suppliers | |
| Computer System7 | |||||
| Vehicle8 | $0 to $2,100 | Lump sum | Before opening | Third-party suppliers | |
| Vehicle and/or Trailer | $1,000 to $2,500 | Lump Sum | Before opening | Third-party suppliers | |
| Wrap9 | |||||
| Insurance Premiums10 | $1,000 to $3,500 | As Incurred | Before opening | Insurance companies | |
| Utility Deposits and | $100 to $750 | Lump Sum | Before opening | Third-party suppliers | |
| Business Licenses11 | |||||
| Attorney’s Fees12 | $500 to $1,000 | Lump sum | As incurred | Attorney | |
| Bookkeeping Tech | $300 | As incurred | As incurred | Third-party suppliers | |
| Fees13 | |||||
| Accounting Fees14 | $750 to $1,500 | As Incurred | As incurred | Third-party suppliers | |
| Back Office | $0 to $450 | As incurred | As incurred | Third-party suppliers | |
| Expenses15 | |||||
| Installation Tools16 | $0 to $7,250 | As incurred | As incurred | Third-party suppliers | |
| Technology Fees17 | $807 | As Incurred | As Incurred | Us | |
| Type of Expenditure | Amount1 | Method of Payment | When Due | To Whom Payment is to be Made | |
| Additional Funds (3- | $20,000 to $30,000 | As incurred | As Incurred | Employees, third-party | |
| month period)18 | suppliers, etc. | ||||
| TOTAL19 | $101,857 to $136,807 | #### Notes: |
- (1) The above chart assumes that you did not qualify for any discounts, and that you paid the standard Initial Franchise Fee.
- (2) These are the estimated initial investments for beginning operations for a KITCHEN SOLVERS Business.
Source: Item 7 — Estimated Initial Investment (FDD pages 16–21)
What This Means (2025 FDD)
According to Kitchen Solvers' 2025 Franchise Disclosure Document, the estimated cost for insurance premiums ranges from $1,000 to $3,500. This estimate covers three months of premiums for a single territory and includes general liability, workers' compensation, commercial auto, and any other insurance coverage that Kitchen Solvers designates. These premiums are paid to insurance companies and are due before opening the Kitchen Solvers business.
It is important to note that this is just an estimate, and the actual cost of insurance may vary. Factors that could affect the cost of insurance include the franchisee's location, the number of employees, and the amount of coverage desired. Prospective franchisees should obtain quotes from multiple insurance providers to ensure they get the best possible rate.
Insurance is a crucial aspect of protecting a Kitchen Solvers franchise. General liability insurance protects against claims of bodily injury or property damage caused by the business's operations. Workers' compensation insurance covers medical expenses and lost wages for employees who are injured on the job. Commercial auto insurance covers vehicles used for business purposes. Franchisees must maintain adequate insurance coverage to protect themselves from financial losses.
Given the importance of insurance and the potential for variability in costs, it is advisable for prospective Kitchen Solvers franchisees to consult with an insurance professional to determine the appropriate level of coverage for their specific circumstances. Understanding the types of insurance required and the factors that influence premiums will help franchisees budget effectively and protect their investment.