Initial franchise fee:
The initial franchise fee is £19,950 + VAT
The ongoing fees:
The Management Services Fee is 8% of turnover. In addition, a Marketing Levy of 1% is payable. This marketing levy is ring fenced by the franchisor to be spent on marketing activities for the benefit of the network.
Other investment required:
Franchisees will need to fund the deposit on their first vehicle. This is typically 20% of the cost of the vehicle. Lease or finance costs will then be monthly. In addition, around £15,000 of working capital will be required to cover costs whilst the business grows and reaches cash flow break even
Bank funding may be available, subject to status for 50% of this, leaving a liquid capital requirement of £17,500.
Templated financial forecasts are provided for the franchisee, who will then complete these with their own figures and forecasts, based on information provided by Aura Journeys. Aura Journeys will work with each franchisee through their training period, and on an on-going basis to understand their business goals, and to help them to achieve these goals.
What you can earn in the early years
We recommend that a franchisee does the first 40 hours per week of the driving themselves, before contracting drivers to cover additional hours. This saves the cost of paying a driver, and allows for more profit to be generated. Should the franchisee choose to do so, they can take as much or as little drawings themselves from the business as cash flow allows.
Live and historical sales data from the core head office business, together with financial data from the franchise network can be made available to prospective franchisees, once they have signed a non-disclosure agreement as part of their due-diligence and decision making.
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We would love to talk to you about what you are looking for and whether an Aura Journeys franchise may match up… If you would like to arrange a chat, or simply request further information at this stage, please use the buttons below…