Buying a Franchise Cost | Buying A Franchise Cost

Buying A Franchise Cost in Kingsport, TN

Looking to invest in a thriving industry? Learn about the costs of owning a Floyd's 99 Barbershop franchise and join a successful national chain offering more than just a haircut.

Are you considering becoming part of Floyd's 99 Barbershop? Let's delve into the exciting world of owning a franchise and explore the costs associated with this lucrative opportunity.

Initial Investment

When you're thinking about buying a franchise, one of the first questions on your mind is likely the initial investment required. Let's break down the costs involved in opening a Floyd's 99 Barbershop franchise:

Franchise Fee: As of 2024, the initial franchise fee for a Floyd's 99 Barbershop ranges from 40,000 to 50,000. This fee grants you access to an established brand, comprehensive training, and ongoing support.

Build-Out Costs: The total cost for building out a Floyd's 99 Barbershop location varies based on factors such as size, location, and local construction costs. Typically, the investment for build-out costs ranges from 250,000 to 400,000.

Equipment and Inventory: You will need to purchase the necessary equipment, furniture, and inventory to furnish and stock your barbershop. This investment generally falls within the range of 50,000 to 70,000.

Working Capital: It's important to have sufficient working capital to cover operating expenses, marketing initiatives, and other ongoing costs before your business becomes profitable. This may require an additional investment of 50,000 to 100,000.

Ongoing Fees

In addition to the initial investment, owning a Floyd's 99 Barbershop franchise entails certain ongoing fees and expenses. Here's what you can expect:

Royalty Fee: As a franchisee, you will pay a monthly royalty fee amounting to 6% of your gross sales. This fee contributes to the ongoing support and services provided by Floyd's 99 Barbershop.

Marketing Fee: A monthly marketing fee equivalent to 2% of your gross sales is allocated to regional and national marketing efforts that strengthen the brand and attract customers to all Floyd's 99 Barbershop locations.

Financial Support

To help potential franchisees finance their investment, Floyd's 99 Barbershop has relationships with third-party financing sources that can assist in securing loans for qualified candidates. Additionally, the company does not offer direct financing, but they may be able to refer you to lending sources.

City Focus: Kingsport, TN

As a potential franchisee in Kingsport, TN, it's crucial to consider the local market and demographic factors when assessing the potential costs and returns of owning a Floyd's 99 Barbershop location in this area. Kingsport offers a favorable environment for a barbershop franchise, with a thriving population and a growing interest in trendy, high-quality grooming services.

Conclusion

Owning a Floyd's 99 Barbershop franchise presents an exciting opportunity to tap into the booming hair care industry. With a combination of the initial investment, ongoing fees, and financial support options, potential franchisees can chart a profitable course within this dynamic market.

Ready to embark on your journey as a Floyd's 99 Barbershop franchisee? Contact us today to explore this remarkable opportunity and take the next step toward joining our esteemed network of successful entrepreneurs.