SCHOOL OF ROCK FRANCHISE STARTUP COSTS & EARNINGS
Here’s a breakdown of startup costs when opening your school of rock franchise
If you’ve been dreaming of starting a music school, one of the first things you’ll want to know is how much your initial investment and franchise startup costs will run. Average costs for opening a School of Rock location range from $271,500 – $494,100.
The chart below from the School of Rock franchise disclosure document (FDD) shows how your investment is allocated during the startup phase of your franchise.
|TYPE OF EXPENDITURE||AMOUNT||METHOD OF PAYMENT||DUE||PAYMENT MADE TO|
|Initial franchise fee||$49,900||Lump sum||At signing of franchise agreement||Franchisor|
|Initial rent outlays||$8,000 - $14,600||Lump sum||At signing of lease agreement||Landlord|
|Site selection and leasehold improvements||$125,000 - $250,000||As arranged||Before opening; as incurred||Contractors / Suppliers|
|Furnishings and finishings||$10,000 - $24,000||As arranged||Before opening||Suppliers|
|Equipment||$15,000 - $25,000||As arranged||Before opening||Franchisor / Suppliers|
|Security Cameras||$6,500 - $9,500||As arranged||Before opening||Suppliers|
|Signage||$7,000 - $14,000||As arranged||Before opening||Suppliers|
|Supplies||$400 - $800||As arranged||Before opening||Suppliers|
|Pre-opening training||$1,800 - $3,000||As arranged||Before opening||Suppliers|
|Advertising||$10,000||As arranged||Before opening and within 30 days after opening||Suppliers|
|Opening inventory||$2,300 - $3,300||Lump sum as arranged||Before opening as incurred||Franchisor / Suppliers|
|Computer / software||$3,000 - $6,500||As arranged||Before opening as incurred||Suppliers|
|Permits & licenses||$1,000 - $2,500||As arranged||As incurred||Government authorities|
|Architectural fees||$6,000 - $15,000||As arranged||As incurred||Supplier|
|Prepaid insurance premiums||$500 - $3,000||As arranged||As incurred||Insurance broker|
|Utility costs & deposits||$600 - $1,500||As arranged||Before opening as incurred||Suppliers|
|Miscellaneous opening expenses||$3,500 - $7,500||As arranged||As incurred||Consultants|
|Additional funds for 3 months||$21,000 - $54,000||As arranged||As incurred||Suppliers / employees / others|
|TOTAL COSTS:||$271,500 - $494,100|
If you’d like to take a closer look at our financial picture, including average startup costs or franchisee earnings, you can request a copy of the full FDD by filling out our no-obligation form.
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Understanding franchisee earnings & how much you could make
Our franchisees come from all sorts of backgrounds, but something they all share is a passion for music. Whether they’re experienced entrepreneurs or musicians themselves, they get the coaching and guidance they need from School of Rock to maximize profit after opening their franchises.
We can’t predict how much you’ll make owning a School of Rock franchise, but we can show you how much franchisees have earned in years past. Qualified franchise candidates will receive a copy of our FDD, which includes earnings reported by our owners as well as more detailed information about franchise startup costs and what you get for your initial investment.
To qualify as a candidate, our minimum requirements are $125,000 in liquid assets and $350,000 in net worth (a single candidate or the sum of the assets of a group of investors). School of Rock’s initial investment on a single location ranges from $271,500 to $494,100. If you meet the requirements and need financing to open your school, one of our financial partners can help you find solutions to fund your business.
FRANCHISE STARTUP COSTS & FEES
LIQUID CAPITAL REQUIRED
NET WORTH REQUIRED
Receive your copy of our Franchise Disclosure Document (FDD)
Turn your passion into profit. All you have to do is fill out the contact form here. If you meet our minimum requirements, we’ll walk you through the franchise disclosure document (FDD) step by step.
Passion for music and music education is crucial in our business. At School of Rock, transforming lives through music is our sole reason for being, and our business model is based on turning that passion into profit. And to do that, it’s important to fully understand the financial ins and outs of the School of Rock business model.
Ready to learn more about franchise startup costs and earnings? Contact us to get started, and we’ll share the financial details with all qualified candidates.
School of Rock Franchise Startup Costs FAQ
How much does a School of Rock franchise make?
According to the FTC, we cannot legally promise prospective franchisees how much money they can make. But we will offer you information on our business model, the opportunity to talk to current franchisees and our corporate executives so you can evaluate the opportunity and do your due diligence.
Our goal is to provide you with all of the resources you need to analyze all of the possibilities School of Rock offers. To find out more about buying a franchise, contact us or download our Franchise Information Report.
How much does it cost to open a School of Rock?
The average costs for opening a School of Rock location range from $271,500 to $494,100. If you want to learn more about how these costs are allocated, and take a look into startup costs or franchisee earnings, you can request a copy of the full Franchise Disclosure Document (FDD).
What’s the typical break-even point for School of Rock franchise owners?
We don’t make promises about your potential earnings, but during the due diligence process you will talk to franchisees and get some more details on how they run their business, the opening process and some other details. You can find more about the average school sales by downloading our Franchise Information Reporting or contacting our Franchise Development team.
Can I receive financing to help fund my School of Rock franchise?
Yes. The qualified candidates can count on the help of our financial partners. The minimum requirements are $125k liquid assets, which involves cash and securities that can be converted to cash quickly, such as stocks, tax refunds, savings accounts with access to them and 401ks available for a rollover. The minimum net worth is 350k and it includes long and short-term assets (money in investment accounts, the value of stocks or bonds, market value of the real estate, market value of the automobile) after the liabilities, such as loans, mortgages and credit card balances. Unqualified candidates will not qualify for financial assistance.
According to the Federal Reserve, liquid assets are assets that can be converted to cash quickly if needed to meet financial obligations.
How much are School of Rock’s royalties?
School of Rock locations have 8% in royalties taken out monthly. Contact us to read our Franchise Disclosure Document.
How much is the School of Rock franchise fee, and how long is it valid for?
The initial franchise fee is $49,900, and is valid for 10 years. Franchisees who are military/veterans will receive a discount on their initial franchise fee.
Request Franchise Information
You can call us (877) 556-6184 to learn more about your School of Rock franchise opportunity, or fill out the form on this page to download our Executive Summary, which includes more in-depth information on our business model and the franchising process.
SCHOOL OF ROCK IS AN EQUAL OPPORTUNITY FRANCHISE COMPANY
At School of Rock, we believe diversity cultivates creativity and innovation, inspires high-quality decisions and promotes economic growth. Our company is committed to advancing diversity and inclusion within our schools and throughout our system. People of all ethnicities, genders, orientations, religions and backgrounds are welcome and encouraged to join the School of Rock family if they are able to meet the franchising requirements.