BODYBRITE USA Franchise Startup Cost, Profit & Opportunities
The BodyBrite USA franchise specialized in the provision of IPL (Intense Pulsed Light) hair removal and skin care services prides itself as one of the foremost body care franchises with the most investor friendly opportunity that is easy to buy, easy to run and also easy to make money with.
Other body care services provided by the BodyBrite USA franchise include Body Face Neck Contouring and skin tightening, oxygen treatments and teeth whitening.
Founded in 2011, the BodyBrite USA franchise has Chris Hardy as its CEO, and a corporate headquarters is located at Minneapolis, Minnesota. The franchise arm of the BodyBrite franchise began operations a year after it was founded.
The opportunities available to investors are immense, as it presents a track record of excellence through its business model that has stood the test of time, and led to the growth of the franchise. Also, the BodyBrite franchise opportunity presents a business that has minimal employees, thus, ensuring that while functioning at peak levels, the franchisee has little worries over huge wage bills.
BodyBrite USA Franchise Startup Cost
BodyBrite USA franchise has certain franchise startup costs the investor/prospective franchisee must incur. These startup costs are mainly made up of an Initial Investment sum ranging from $114,383 to $117,500.
Others startup costs include a liquid cash requirement of $50,000, and a net-worth requirement of $150,000. These form the bulk of the franchisors startup costs, and are included in BodyBrite’s ownership requirements.
BodyBrite USA Franchise Fee
As part of the franchisors ownership requirements, all its franchisees are expected to pay a franchise fee. This franchise fee is in the form of an Initial franchise fee which starts from $29,000.
There are financing options for the franchise fee, and this is covered in a third-party relationship the franchisor maintains with financing sources that provide financing covering the franchise fee.
BodyBrite USA Franchise Ongoing Costs
There are ongoing costs incurred by all BodyBrite USA franchisees. These are costs the franchisee must pay the franchisor in the form of royalties for the ownership and use of the franchisor’s business model and name.
The BodyBrite USA franchise’s ongoing costs consist of an ongoing royalty fee of 6%, plus an advert royalty fee of 300/mo. The ongoing costs for the BodyBrite USA franchise differ according to the franchise size bought by the franchisee.
Larger sized franchises pay higher ongoing costs, while smaller sized franchises pay lesser ongoing costs to the franchisor.
BodyBrite USA Franchise Training and Support
The BodyBrite USA franchise has put in place a training session for all its new and existing franchisees to ensure that necessary skills for the efficient running of their franchises are passed across comprehensively.
For its existing franchisees, this training session holds through the provision of refresher courses aimed at equipping and updating their knowledge on current industry trends. For its new franchisees, the training session is mandatory, and includes their managers, to ensure that the franchise is properly managed even in the absence of the franchisee.
The BodyBrite USA franchise training session lasts a period of 8 days which consists of classroom training sessions lasting 5 days, and hands-on training extending 2 to 3 days. These are all held at the franchisors corporate headquarters. Support includes annual conferences, a toll-free line, and internet services.
BodyBrite USA Franchise Application and Terms of Agreement
After having exhausted the agreed terms under its contract which lasts a single term of 10 years, the franchisor has made provisions for the renewal of its franchise contract with the franchisee.
The renewed term under the franchisors renewal agreement lasts a double term of 5 years each. However, to qualify for a franchise renewal, certain conditions specified by the BodyBrite USA franchise have to be fully met.
How to Start a BodyBrite USA Franchise?
To be considered for a BodyBrite USA franchise requires that the prospective franchisee first indicate his/her interest through visiting the franchisors website on http://www.bodybriteusa.com/franchise there is a franchise information request form available on the website. This is where the prospective franchisor must carefully fill.
The form requires personal details to be supplied, including other details such as “available liquid capital” among others. Once filled, this form should be submitted.
If your application qualifies for consideration, the franchisor contacts you, using your contact details supplied in the franchise information request form for further investment discussions leading to the eventually ownership of the franchise. Before formally owning the BodyBrite USA franchise, the prospective franchisee is given a Franchise Disclosure Document (FDD) containing all the terms of agreement of the franchise contract.
The form is required to remain in the possession of the franchise candidate for a period of 10 days. During this period, he/she is expected to seek the services of a franchise lawyer to provide adequate guidance on the implications of the content of the document.
If satisfied, he/she is expected to provide proof of having sought legal services to the franchisor, before finally signing the contract.
This article has focused on the details needed for owning a BodyBrite USA franchise. The information supplied is targeted at entrepreneurs/investors interested in this franchise opportunity. It is believed that it would help the franchise candidate make informed investment choices.