If you are looking towards opening a PODS Enterprises Inc. Franchise, it will be nice for you to have a preview of what the company represents before going ahead to make enquiries about the total cost of opening the franchise in your location.
PODS Enterprises Inc. was founded in 1998 and they began franchising in 1999, about 21 years ago. The company has her corporate head office at 5585 Rio Vista Drive Clearwater, FL 33760, USA. Pods also provides franchising opportunities and currently they have 66 franchise units in the United States of America.
PODS utilizes a specially equipped truck and patented hydraulic lift technology to deliver, retrieve, store and even move across the country a container of up to 8x8x16 ft. PODS offers two business models, Storage and Moving. With Storage, customers load their unit and its stored at their house or at a local facility. With Moving, customers load the unit and it is delivered to their new location.
PODS makes moving easier and Less Stressful. PODS brand containers can be available within 24 hours. Then you decide how long you want to take; it doesn’t have to happen in one day. Depending on local ordinances, you can take up to 30 days.
You don’t have to worry about driving a big truck. You don’t have to worry about driving in winter, snowy months. Ground level loading eliminates the mountainous climb up the truck ramp with heavy items. PODS makes storage convenient and easy.
Storage Centers are climate monitored and have 24 hour video surveillance at most locations. You hold the key to your container. Plus their innovative tracking technology allows them to know the exact location of your container.
Here are areas where you are expected to spend money and the cost associated with it;
- Initial Investment Range: $1,200,000 – $2,000,000
- Franchise Fee: $75,000
- Royalty Fee: 5 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.
Please note that “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.
- Local Advertising Spend, Local Marketing Fund, or Cooperative Advertising Contribution: At least 1 percent per calendar year and the Due Date: for this is Monthly.
Please note that each local advertising Cooperative may elect to increase the monthly contribution if approved by a two – thirds majority of the members, and the minimum contribution is subject to adjustment by an amount not to exceed the increase in the CPI.
Centers owned by PODS Enterprises Inc. and its affiliates are also members of their respective local Cooperative and each company – owned Center has the same voting rights as the franchised locations within the Cooperative.
If the company – owned Centers comprise the majority of a given Cooperative, the maximum and minimum fees for that Cooperative will be consistent with the range stated in this Item 6.
- 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: This fee will vary under the circumstances and the Due Date is As incurred.
Please note that you must reimburse PODS Enterprises Inc. if it is held liable for claims arising out of your franchise operations.
- 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 PODS Enterprises Inc. 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 Pods is required to defend your unsuccessful claim against it.
- Veteran Incentives: This is open for negotiation with the company.
- Term of Agreement and Renewal: The length of the initial franchise term is 5 years. If requirements are met, franchisees can renew for one additional term of 5 years.
- Financial Assistance: PODS Enterprises Inc. has relationships with third – party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, and payroll et al.
- Liquid capital required: $400,000
- Net worth required: $1,000,000
- Investment: $1,200,000 – $2,000,000
- Franchise fee: $75,000.