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Pirtek Franchise Costs $216K – $619K (2024 Fees & Profits)

Pirtek was founded in 1979 in Australia and started franchising in 1986. As a leader in hydraulic and industrial hose services, Pirtek specializes in offering on-site mobile hose maintenance and replacement services, ensuring minimal downtime for industries that rely heavily on operational machinery. Since entering the United States in 1996, it has expanded into many franchises across the country.

Headquartered in Rockledge, Florida, the franchise is known for its 1-hour ETA mobile service, providing a crucial solution to minimize equipment downtime across critical sectors such as construction, manufacturing, and transportation. This quick-response service model positions Pirtek as an essential service provider, enhancing its competitiveness in the franchise market.

Pirtek supports its franchisees with extensive training and continuous operational support. It also offers a flexible investment approach, starting with a mobile service unit that can grow into a full-service center. This helps franchisees start small and expand as their business grows, making Pirtek a solid choice for those looking to enter the industry.

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Initial investment

Type of ExpenditureAmount
Initial Franchise Fee$55,000
Opening Set-up Fee$0 – $14,000
Initial Technology Start-up Fee$8,000 – $10,000
Computer System$3,000 – $5,000
Training$2,000 – $15,000
Leasehold Improvements$0 – $37,000
Signs and Shop Equipment$0 – $80,000
Mobile Sales & Service Units$20,000 – $30,000
Tracking System$300
Prepaid Rent and Security Deposit$700 – $5,000
Opening Inventory$55,000 – $120,000
Insurance Premiums$20,000 – $40,000
Utility Deposits and Business Licenses$400 – $3,000
Attorneys’ Fees$2,000 – $5,000
Additional Funds – 5 Months$50,000 – $200,000
Total Estimated Initial Investment$216,000 – $619,000

Note: The table above provides a snapshot of the main costs associated with starting the most common franchise format (as disclosed in the Item 7 of the Franchise Disclosure Document). For a complete overview of all the expenses involved with the various formats offered by the franchisor, please consult the Franchise Disclosure Document.

Franchise fees & Royalties

Initial Franchise Fee

The Initial Franchise fee is $55,000, which must be paid in full when you sign the Franchise Agreement.

Royalty Fee

A Royalty Fee, calculated as 4% of your Gross Sales, is payable monthly. This fee is due on or before the 10th day of the month following the month for which the fee is applicable.

Marketing Fees

Marketing Fees, which range from 1.5% to 3% of your Gross Sales, are also due monthly on or before the 10th day following the month in question.

Local Marketing

You are required to allocate an additional 0.375% to 0.75% of your Gross Sales towards local marketing initiatives.

Transfer Fee

A fee of $15,000 or 5% of the sale price is applicable in the event of a franchise transfer, and it is due at the time of the transfer.

Technology Fee

The monthly Technology Fee varies between $660 and $2,850, covering various technology and software services necessary for operations.

Renewal Fee

A Renewal Fee of $2,500 is required for the renewal of the franchise license, payable at the time of renewal.

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How to apply

1. Research and Understand the Brand

  • Explore Pirtek’s core values, services, and market presence.
  • Analyze customer reviews and the franchise’s business model to grasp the potential success and challenges.
  • Identify your local market demand for hydraulic and industrial hose replacement services.

2. Review the Franchise Disclosure Document (FDD)

  • Obtain and thoroughly review the FDD provided by Pirtek to understand the legal and financial commitments.
  • Pay attention to fees, initial investment requirements, royalties, and other obligations.
  • Consider consulting with a franchise attorney to better understand the terms.

3. Secure Financing

  • Assess your financial resources to cover the franchise fee, initial setup costs, and operational expenses.
  • Explore financing options such as loans, partnerships, or other credit facilities.
  • Prepare a solid business plan to aid in securing loans or attracting investors.

4. Choose a Suitable Location

  • Identify strategic locations that align with market research for high demand and visibility.
  • Evaluate factors such as accessibility, competition, and compliance with zoning laws.
  • Consider the demographics and economic status of potential locations to ensure they align with Pirtek’s target market.

5. Complete Franchise Application and Approval Process

  • Submit a detailed franchise application to Pirtek for review.
  • Participate in interviews and discussions with Pirtek representatives to demonstrate your understanding and commitment.
  • Await approval which might include background checks and financial assessments.

6. Undergo Training and Onboarding

  • Participate in all required training programs provided by Pirtek to understand their operating procedures, marketing strategies, and service standards.
  • Use this period to build relationships with other franchisees and the franchisor.
  • Ensure understanding of operational software, customer service protocols, and emergency response techniques.

7. Launch Your Franchise

  • Plan and execute a grand opening that leverages local press, promotional events, and community engagement.
  • Implement marketing strategies as Pirtek has guided you in attracting your initial customer base.
  • Continuously monitor and adapt business operations based on performance metrics and feedback to ensure long-term success.

Disclaimer

Disclaimer: This content has been made for informational and educational purposes only. We do not make any representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the information presented in the article. You should not construe any such information or other material as legal, tax, investment, financial, or other professional advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any franchises, securities, or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the franchise and/or securities laws of such jurisdiction.

All content in this article is information of a general nature and does not address the detailed circumstances of any particular individual or entity. Nothing in the article constitutes professional and/or financial and/or legal advice, nor does any information in the article constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content in this article before making any decisions based on such information or other content.

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