- Franchise 500 Rank
-
N/R Not ranked last year
- Initial investment
-
$248K - $607K
- Units as of 2021
-
4 0.0% over 3 years
Company Overview
About Insurance Lounge
Business Overview
| Franchising Since | 2021 (3 years) |
|---|---|
| # of employees at HQ | 24 |
| Where seeking |
This company is offering new franchises in the following US states: Alaska, Alabama, Arkansas, Arizona, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Iowa, Idaho, Kansas, Kentucky, Louisiana, Massachusetts, Maine, Missouri, Mississippi, Montana, North Carolina, New Hampshire, New Jersey, New Mexico, Nevada, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Vermont, West Virginia, Wyoming |
| # of Units | 4 (as of 2021) |
|
|
|
Information for Franchisees
Here's what you need to know if you're interested in opening a Insurance Lounge franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
|
Initial Franchise Fee
|
$10,000 - $50,000 |
|---|---|
|
Initial Investment
|
$248,000 - $607,000 |
|
Cash Requirement
|
- $100,000 |
|
Royalty Fee
|
10%/20% |
|
Ad Royalty Fee
|
2% |
|
Term of Agreement
|
5 years |
| Is franchise term renewable? | Yes |
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
| Third Party Financing | Insurance Lounge has relationships with third-party sources which offer financing to cover the following: startup costs, equipment, inventory, accounts receivable, payroll |
|---|
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
| On-The-Job Training | 16 hours |
|---|---|
| Classroom Training | 36 hours |
| Ongoing Support |
Meetings & Conventions
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
|
| Marketing Support |
Ad Templates
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App
|
Operations
Additional details about running this franchise.
| Is absentee ownership allowed? | No |
|---|---|
|
Can this franchise be run from home/mobile unit?
|
No |
|
Can this franchise be run part time?
|
No |
|
Are exclusive territories available?
|
No |
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