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2021 Franchise 500 Rank
N/R Not ranked last year
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Initial investment
$31K - $42K
Units as of 2013
11

Company Overview

About MyLoopCard

Founded
2007
Leadership
Justin Herman, CEO

Franchising Overview

Franchising Since
2009 (12 years)
# of employees at HQ
3
Where seeking

This company is seeking new franchisees throughout the US.

This company is seeking new franchisees worldwide.

# of Units
11 (as of 2013)

Franchisor Information

Corporate Address
241 Federal Plaza W.
Youngstown, OH 44503

Information for Franchisees

Here’s what you need to know if you’re interested in opening a MyLoopCard 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
$29,500
Initial Investment
$31,000 - $42,000
Net Worth Requirement
$100,000
Cash Requirement
$30,000
Veteran Incentives
10% off franchise fee
Royalty Fee
$50/mo.
Term of Agreement
5 years
Is franchise term renewable?
Yes

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

Classroom Training
as needed
Additional Training
Online/phone training
Ongoing Support
Purchasing Co-ops
Meetings & Conventions
Toll-Free Line
Online Support
Marketing Support
Co-op Advertising
Ad Templates
National Media
Marketing Planning & Support

Operations

Additional details about running this franchise.

Is absentee ownership allowed?
No
Can this franchise be run from home/mobile unit?
Yes
Can this franchise be run part time?
No
# of employees required to run
1
Are exclusive territories available?
Yes

Franchise 500 Ranking History

Compare where MyLoopCard landed on this year’s Franchise 500 Ranking versus previous years.

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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise by Entrepreneur Media. Our franchise listings and rankings are solely research tools you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise. That should include reviewing the franchisor's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees.
Updated: February 8th, 2021