CONCERTO NETWORKS Franchise Startup Cost, Profit & Opportunities
The Concerto Networks Franchise offers services that includes computer and networking services and also business technology consulting. Concerto Networks was founded in 2002 with its corporate headquarters located in San Diego, California. It began franchising a year later after it was founded in 2003. Its current CEO is Raymond Hivoral.
Financial Requirements for Concerto Networks Franchise
The Concerto Networks Franchise requires that interested franchise candidates meet up its financial requirements before this franchise opportunity will be handed to them. These financial requirements are compulsory to all interested franchise candidates.
The requirements include an Initial Investment starting from $12,500, a Net-Worth requirement of $20,000 and a Liquid Cash requirement of $15,000. With inability to meet these financial requirements comes a denial or disqualification of the franchise candidate from ownership of the franchise opportunity.
Concerto Networks Franchise Ongoing Fees
Interested franchise candidates are also required to pay ongoing fees to the franchisor. The franchise candidate stands disqualified if unable to meet up the fee payments. The ongoing fees payable to the franchisor by the franchisee includes an Initial Franchise fee starting from $1,250 to $12,500, an Ongoing Royalty fee of $199/mo and an included Ad Royalty fee.
Concerto Networks Franchise Training and Support
Training is given to new Concerto Networks franchisees. However, it is not only restricted to new franchisees, as there are periodic training programs and update courses organized for existing franchisees.
These trainings are of immense benefit to them, as they are updated on current industry happenings and the innovations within the industry, all in a bid to help them reorganize their franchise outlets to adjust to reality and current happenings.
The compulsory training program for new franchisees covers a period of 5 days at its corporate headquarters. Support given to its franchisees includes newsletter publications which have a periodic frequency.
Also, grand opening, meetings, security, field operations, a toll-free line, and internet support are provided to all Concerto Networks franchisees.
Concerto Networks Franchise Financing Options
This franchisor has financing options that ensure that franchisees do not bear the burden of doing business alone. The financing options cover certain aspects of the business as may be chosen by the franchisor. Areas covered by the financing option may be changed as deem fit by the franchisor without consultation with franchisees.
For Concerto Network franchisees, the financing option is not public, but is believed that the details will be disclosed at the point of registration to the franchisee through the Franchise Disclosure Document (FDD).
How Profitable is Concerto Networks Franchise?
This is usually an area of interest for franchise candidates, as one of the most likely reasons of buying into a franchise opportunity is to make profits. Hence, franchisees buying into the Concerto Networks franchise all expect to make good profits.
For franchise candidates, this question is invaluable as it forms part of the final decisions taken to invest or not to. Profitability is dependent on how hard the franchisee works, and the frequency of services rendered. Within a given territory, dedication by the franchisee can see healthy revenue growths within reasonably short periods.
Renewal of contract by the franchisee depends on the initial agreement entered into between both parties, that is, between the franchisor and the franchisee. However, some franchisors offer a contract renewal depending on how well the franchisee runs this franchise.
For others, there is absolutely no contract renewal, as a specified contract term is fixed, and once it elapses, marks the end of the franchise contract between the two parties.
Still yet, some franchisors allow the resale of the franchise by franchise candidate, although this can be either sold to the franchisor, or to a third party but the franchisor must be informed.
For the Concerto Networks franchise, this has not been made available, but it is believed that this would be fully disclosed in the Franchise Disclosure Document (FDD).
The ownership of this franchise opportunity is flexible as it allows for absentee ownership. This means that franchisees can own the Concerto Networks franchise without having to always be on ground to monitor its operations.
However, it is required by the franchisor that the franchisee employs the services of a manager, who will have to undergo training provided by the franchisor in order to be fully equipped to run this franchise in the absence of the franchisee.
How to Open Concerto Networks Franchise
To join the Concerto Networks Franchise, certain procedural steps must be taken which includes first indicating interest in this franchise opportunity. The medium through which this is possible is through the website of the franchisor.
An online application form is found in the franchise section of the website. This form should be carefully filled and submitted by the franchise candidate. Once submitted, the application is screened for eligibility to ensure that only the most qualified franchise candidates are allowed to own a part of this franchise opportunity.
If the application is deemed qualified, a franchise representative from the franchisor contacts the franchise candidate for further discussions which includes giving the franchise candidate the Franchise Disclosure Document to enable him/her understand the terms of agreement.
A time frame of at most 10 days is usually given as required by US federal laws. It is advised that the Concerto Networks franchise disclosure document should be reviewed with the assistance of a franchise lawyer to avoid unnecessary pitfalls.