SYNERGY HomeCare Investment


The following chart reflects the estimated cost of start-up through the first three months of operation including the franchise fee. Your Franchise Development Representative is available to provide further detail and answer any questions you may have.

Synergy HomeCare Franchise investment chart with estimated startup costs

We anticipate that you will incur the above estimated initial expenditures in the establishment of your Franchised Business. All fees paid to our Affiliates or us are non-refundable under any circumstances once paid except as provided in Item 5. Fees paid to vendors or other suppliers may or may not be refundable depending on your vendors and suppliers.

NOTES

(1) Franchise Fee: The Franchise Fee is described in greater detail in Item 5 of this Disclosure Document.

(2) Real Estate/Rent: You must lease or otherwise provide a suitable facility for the operation of the Franchised Business. You will need approximately 200 to 250 square feet of space in a shared office or executive office environment. Your lease costs can vary based upon variances in square footage, cost per square foot and required maintenance costs. We assume that you will have to pay the first month’s rent and a security deposit equal to one month’s rent in advance. The rent you pay is typically not refundable, but
your security deposit may be under certain circumstances. This covers rent for three (3) months.

(3) Utility Deposits: If you are a new customer of your local utilities, you may have to pay deposits with local utilities for services such as electric, telephone, gas and water. The deposit will vary depending upon the policies of the local utilities.

(4) Leasehold Improvements: You may need to make certain improvements to your office space to accommodate your Franchised Business or to comply with our standards and specifications. The cost of leasehold improvements will vary based upon size, condition and location of the premises, local wage rates and material costs.

(5) Furniture, Fixtures & Equipment: You will be required to purchase or lease office furniture and any equipment necessary for providing the various services offered by SYNERGY HomeCare Businesses. Although some of these items may be leased, the range shown represents the actual purchase price.

(6) Software: You must purchase a license to use scheduling software from us or our approved vendor. Currently, you will sign a scheduling software license agreement with the approved vendor and pay the vendor all applicable fees. We will pay the initial start-up license fee and training fee for you to use the scheduling software. You must pay the vendor the monthly usage fee for the scheduling software. The current monthly usage fee ranges from $150 – $500 per month, and is subject to change by the software
vendor. You must also purchase QuickBooks, the cost of which will vary depending on competition among suppliers, among other things. See Item 11 for a description of the software you must purchase.

(7) Computers and Printer: You must purchase certain computers and printers to operate the software and QuickBooks. See Item 11 for a description of the computers and printers you must purchase.

(8) Insurance (including Fidelity/Crime Coverage): You must secure policies for the following types of insurance: “all-risk” property, business interruption, general liability, automotive liability, professional liability, employment practice liability, wage and hour insurance, worker’s compensation, coverage under the Franchise Agreement’s indemnity provisions, and a fidelity/crime insurance (or the equivalent), as required by Section 15 of the Franchise Agreement or any other insurance as required by law. Your cost of insurance may vary based on the location of the Franchised Business, value of the leasehold improvements, amount of inventory, number of employees and other factors. Typically, you will pay quarterly for insurance (including fidelity/crime insurance) coverage. The estimated cost is first 3 months of insurance (including fidelity/crime insurance) coverage.

(9) Signage: This range includes the cost of all signage used in the Franchised Business, which may include a plaque or lettering for an office door, and magnetic signs or custom painting on service vehicles, or auto wraps. The costs will vary based upon the size, location of the Franchised Business, local wage rates and other factors.

(10) Office Equipment and Supplies: You must purchase general office supplies including stationery, business cards and typical office equipment, such as a computer and printer. Factors that may affect your cost of office equipment and supplies include local market conditions, the size of the Franchised Business, suppliers and other factors.

*NOTE: This is an estimate only of the capital needed to open and operate your SYNERGY HomeCare franchise during the initial 3 months after you open your business. SYNERGY HomeCare Franchising, LLC cannot guarantee that you will not have additional start-up expenses.

To get more details about the above investment summary, contact a SYNERGY HomeCare Franchise Development Representative who can answer your questions and provide you our Franchise Disclosure Document.

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