Signing out of account, Standby...
- 2022 Franchise 500 Rank
#456 Ranked #412 last year
- Initial investment
$20K - $48K
- Units as of 2021
79 203.8% over 3 years
Here’s what you need to know if you’re interested in opening a Network In Action franchise.
Network In Action is a marketing company that hosts monthly meetings for small business owners to network. The company was founded in 2015 by Scott Talley and began franchising in 2016. Network In Action has over 55 franchise units across the United States, with its headquarters in Houston, Texas.
Why You May Want to Start a Network In Action Franchise
Network In Action's monthly meetings may open up an entirely new market of business owners to each other. There are millions of small businesses in the United States, and each one of them requires a marketing plan. The average business owner may not have enough time to attend weekly networking meetings, but Network In Action has made networking easier and accessible.
The Network In Action model may be ideal for professionals seeking to leave the corporate world. Franchisees are typically mid- to upper-level managers, executives, and entrepreneurs seeking to join a growing market.
As a franchisee, your responsibility is to provide leadership to the organization and create a group of business owners you wish to work with every month. You may form relationships with the local small business owners looking to improve their businesses' outcomes while utilizing Network In Action's state-of-the-art technology.
What Might Make a Network In Action Franchise a Good Choice?
To be part of the Network In Action team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. You should also be prepared for ongoing fees that will include royalty fees and renewal fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.
Additional services accessible to franchisees include training, marketing programs, and consultation services. You will complete an extensive amount of training to learn how to run your business. Once the basics are complete, the franchisor will be there for ongoing support.
Network In Action has recently been ranked in Entrepreneur’s Franchise 500. This ranking is based on an evaluation of more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.
How Do You Open a Network In Action Franchise?
As you decide if opening a Network In Action franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Network In Action franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. You may want to speak to existing franchisees and ask the Network In Action team questions as part of your due diligence. You may also want to speak to a franchise attorney and a financial planner to prepare yourself for the possibility of opening a Network In Action franchise.
About Network In Action
- Franchising Since
- 2016 (6 years)
- # of employees at HQ
- Where seeking
This company is seeking new franchisees throughout the US.
- # of Units
- 79 (as of 2021)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Network In Action 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
- $17,000 - $40,000
Definition: The initial fee paid to a franchisor to join their system
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
- Initial Investment
- $19,710 - $47,700
Definition: The total amount necessary to begin operation of the franchise
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
- Net Worth Requirement
Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company
What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.
- Cash Requirement
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
- Royalty Fee
Definition: A ongoing fee paid to the franchisor on a regular basis.
What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
- Term of Agreement
- 10 years
Definition: The length of time your franchise agreement will last.
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
- Is franchise term renewable?
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- In-House Financing
- Network In Action offers in-house financing to cover the following: franchise fee, startup costs
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- Classroom Training
- 38 hours
- Additional Training
- Online training
- Ongoing Support
NewsletterMeetings & ConventionsToll-Free LineOnline SupportSecurity & Safety ProceduresProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
Ad TemplatesSocial MediaWebsite DevelopmentEmail MarketingLoyalty Program/App
Additional details about running this franchise.
- Is absentee ownership allowed?
Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations.
- Can this franchise be run from home/mobile unit?
Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.
- Can this franchise be run part time?
Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.
- Are exclusive territories available?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.
Work with a free franchise expert and get what you need to start a Network In Action franchise.
Franchise 500 Ranking History
Compare where Network In Action landed on this year’s Franchise 500 Ranking versus previous years.
Curious to know where Network In Action ranked on other franchise lists? Find out below.
Ranked #456 in 2022
Franchise 500 Ranking
Ranked #112 in 2021
Ranked #29 in 2021
Top New Franchises
Ranked #98 in 2021
Fastest-Growing Franchises (U.S. & Canada)
Ranked #40 in 2021
Top Franchises for Less Than $50,000
Ranked #1 in Networking Groups in 2021
Best of the Best
Ranked #1 in 2022
#1 in Networking Groups Category
Are you eager to see what else is out there? Browse more franchises that are similar to Network In Action.
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