Becoming A Franchise
Understanding the financial commitment is crucial to the Franchise Partner Process. The following list outlines what you need to know before pursuing an Onext Media franchise:
Getting Started
- A Network Deployment Fee of $80,000 is charged at the commencement of the 10-year franchise agreement, there are minimal additional costs.
- Onext and financial institutions require $10,000 equity in unencumbered cash (liquid capital, including cash, and savings, chequing or GIC accounts; RRSP's are not eligible), and the remainder can be financed.
- Onext does not provide any financing, but may assist in your loan application. You must secure your own financing.
Once Opened And Operating
As part of your Franchise Agreement, each Franchisee is required to pay the following fee:
- 40% Royalty Fee (Standard, some variations apply)
This fee is calculated as a percentage of gross sales, and is payable to you bi-monthly. This fee is in addition to any other operating costs.