- Franchise 500 Rank
-
N/R Not ranked last year
- Initial investment
-
$60K - $119K
- Units as of 2018
-
10 42.9% over 3 years
Company Overview
About iDropped
| Industry | Tech Businesses |
|---|---|
| Related Categories | Electronics Repairs/Sales, Electronics Stores, Miscellaneous Services |
| Founded | 2012 |
| Parent Company | iDropped Inc. |
| Leadership | Chad Altier, CEO |
| Corporate Address |
1201 Marshwood Rd. Throop, PA 18512 |
| Social |
Business Overview
| Franchising Since | 2014 (10 years) |
|---|---|
| # of employees at HQ | 4 |
| Where seeking |
This company is offering new franchises throughout the US. |
| # of Units | 10 (as of 2018) |
|
|
|
Information for Franchisees
Here's what you need to know if you're interested in opening a iDropped franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
|
Initial Franchise Fee
|
$30,000 |
|---|---|
|
Initial Investment
|
$60,100 - $119,089 |
|
Net Worth Requirement
|
$125,000 |
|
Cash Requirement
|
$75,000 |
|
Veteran Incentives
|
10% off franchise fee |
|
Royalty Fee
|
6% |
|
Ad Royalty Fee
|
2% |
|
Term of Agreement
|
10 years |
| Is franchise term renewable? | Yes |
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
| Third Party Financing | iDropped has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll |
|---|
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
| On-The-Job Training | 43.25 hours |
|---|---|
| Classroom Training | 8.75 hours |
| Ongoing Support |
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
|
| Marketing Support |
Ad Templates
Regional Advertising
Social Media
SEO
Website Development
Email Marketing
|
Operations
Additional details about running this franchise.
| Is absentee ownership allowed? | No |
|---|---|
|
Can this franchise be run from home/mobile unit?
|
No |
|
Can this franchise be run part time?
|
No |
| # of employees required to run | 1-3 |
|
Are exclusive territories available?
|
Yes |
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