Do you want to open a construction business by buying Precision Concrete Cutting franchise? If YES, here is how much it cost to open Precision Concrete Cutting franchise successfully. If you are looking towards opening a Precision Concrete Cutting Franchise, it will be nice for you to have a preview of what the company represents before going inquiring about the total cost of opening the franchise in your location.
Precision Concrete Cutting was founded in 1991 and they began franchising in 2002, about 18 years ago. The current CEO is Aaron Ollivier and they have their corporate head office at 3191 N. Canyon Rd. Provo, UT 84604. As of 2018, the company operates 294 franchises in the United States and 47 outside the country.
Precision Concrete Cutting (PCC) is a trip hazard removal company that has developed a patented and proprietary method of correcting sidewalks to conform to the strict regulations of the Americans with Disabilities Act.
PCC franchises fulfill the federally mandated need to remove trip hazards on public walkways. Federal legislation requires cities, school districts, hospitals, churches, shopping malls, universities, apartment complexes, and other large buildings all to be in compliance.
Anywhere there is concrete there is a need for PCC. PCC is the market leader in both technology and price. Its uniquely engineered equipment removes trip hazards quickly, and leaves a finished surface that addresses the Americans with Disabilities Act (ADA) requirements.
Financial Investment Required to Open Precision Concrete Cutting Franchise
Please note that Precision Concrete Cutting (PCC) has the franchise fee of up to $195,000, with total initial investment range of $215,000 to $241,500. Here are areas where you are expected to spend money and the cost associated with it;
1. Initial Franchise Investment: $215,000 – $241,500
2. Franchise Fee: $195,000
Please note they are looking for hard-working individuals that want to excel while owning and operating their own business. Prior experience in sales or management is a plus, but not required. Our franchises come from a variety of backgrounds from prior CEOs, CFOs, Sales Managers, to ex-Pro Athletes. You’ll need a minimum of $120K to start the franchise, but many of our franchisees are able to get financing easily.
3. Royalty Fee: 9 percent of Gross Sales
And the Due Date for this fee is Paid by electronic funds transfer every Friday for the preceding Reporting Period. The amount of the Royalty Fee for any renewal term will be that provided in the Franchise Agreement executed for such renewal term.
“Gross Revenues” include all revenues generated from the provision of any and all services and/or the sale of any and all products and, whether by the franchisee or a third-party provider, that relate to or arise from the Franchised Business. It does not include taxes collected from customers.
- Liquidated Damages Under Area Development Agreement: This fee varies but the Due Date is Payable within 30 days of the termination of the Development Agreement.
- Audit Costs: All costs and expenses associated with the audit, reasonable accounting and legal costs.
- Indemnity: Will vary under circumstances.
- Insurance: Reimbursement of costs the franchisor’s out-of-pocket costs.
- Equipment, Supply, or Supplier Testing or Inspecting: Fee not to exceed the actual costs of inspecting and testing. (Due Date: Due on receipt of invoice.)
Please note that This fee covers the cost of testing or inspecting equipment, supplies, or suppliers you propose.
- POS Hardware and Software: Depends upon vendor and products purchased. (Due Date: Depends upon vendor and products purchased.)
- Attorneys’ Fees and Costs: Will vary under circumstances. (Due Date: As incurred.)
Payable to Precision Concrete Cutting (PCC) if it is forced to retain independent counsel and seek damages or injunctive relief to enforce the Franchise Agreement (whether or not suit is filed) or if Precision Concrete Cutting (PCC) is required to defend your unsuccessful claim against it.
- Term of Agreement and Renewal: The length of the initial franchise term is 20 years. If requirements are met, franchisees can renew for one additional term of 10 years.
- Financial Assistance: Precision Concrete Cutting (PCC) offers in-house financing to cover the following: franchise fee Veteran Incentives which is 10% off franchise fee.
- Initial Investment: $215,000 – $241,500
- Net-worth Requirement: $150,000
- Liquid Cash Requirement: $72,000
- Ongoing Initial Franchise Fee: $195,000 – $195,000
- Ongoing Royalty Fee: 9%
- Ad Royalty Fee: $3.5K/yr.
- Total Investment: $120,000