Franchise Qualifications: 3 Requirements Potential Owners Should Meet

Franchising is an exciting business opportunity for those wanting to be their own boss, but you might find yourself wondering if you are qualified for franchise ownership or if you meet the requirements.

Thankfully, getting started as a franchisee is a viable option for people from all different business backgrounds! With franchising, you get the benefit of investing in an established brand with processes that have been fine-tuned over the years to lead you to ownership success. You get all the perks of being a business owner without any of the hassle of starting an entirely new business from the ground up.

Most franchise brands have a set of requirements and initial costs necessary to open a new location.

Below, we’ll review some of the different franchise requirements we have here at TWO MEN AND A TRUCK® to help give you a better look inside the franchising process!

Initial franchise investment fees

The first and most important step to beginning your franchising journey is having the necessary investment capital to purchase a new location.

At TWO MEN AND A TRUCK, the requirements for a Metro Market (standard market size) run between $164,000 and $435,600 and the costs for a Mod Market (smaller market size) run between $105,5000 and $242,100. This initial investment will cover plenty of different areas as you start up, including training, insurance, six months of working capital, and licensing costs.

Moving assets

As you can imagine, it’s important to have moving resources available when starting your franchise!

All new TWO MEN AND A TRUCK franchisees are expected to invest in at least two moving trucks, a physical office building, and a minimum of $8,000 in moving equipment before opening their doors. Similarly, you’ll need to hire and build a team at your location to book and complete moves for customers in your area!

Miscellaneous details for your specific region

Each area of the country is different when it comes to opening a new moving franchise, from different rules and regulations to state licensing requirements and more.

When getting ready to open your new TWO MEN AND A TRUCK franchise, you’ll need to work with our First Gear training team to determine what details will be necessary for your location and ensure you have the necessary moving permits and other documentation to start serving your customers.

To learn more about how to get started with your franchising journey and learn more about our franchising requirements, click here!