Honest-1 Auto Care®
Date of Incorporation: 2003
Franchising Since: 2003
Address: Las Vegas, Nevada
Description: Honest-1 Auto Care offers automotive repair and various automotive tune-up and brake services, lubrication, oil changes, the sale of tires and rims and other related automotive services to the general public.
Franchise Offer: Honest-1 Auto Care offers franchises for outlets that will offer automobile products and services like tune-ups, brakes, oil changes, tires and rims and general repair services. The franchisor offers franchises for single locations and multiple locations. We also offer area representative franchises.
Financial Assistance: Honest-1 Auto Care, Inc. does not offer any direct or indirect financing nor do they guarantee any note, lease or obligation.
Training and Assistance: The franchisee must successfully complete the initial training at least 2 weeks before starting to operate their Honest-1 Auto Care center. The training will last for 2 weeks, for 8 hours per day, and training will be held for a total of 80 hours of classroom and on-site instruction. Although there is no fee to attend any training program in Las Vegas, Nevada, the franchisee must pay for themselves and/or their employees' transportation, lodging and meal expenses, wages and employee benefits, and materials fees, including the cost of the applicable training manuals while in training programs. The franchisee is not required to attend any additional training programs.
Territory: The franchisee is granted the right, and they may undertake the obligation, to operate an Honest-1 Auto care center at a site that the franchisor has approved. The franchisee may relocate their Honest-1 Auto Care center to any site that meets the franchisors’ site selection criteria and is approved by them in writing. The franchisor will not establish another Honest-1Auto Care center, franchised or company-owned, within a 2 mile radius of the franchisees center location.
Term of Agreement and Renewal: The term of the franchise agreement is 20 years with an option to renew for an additional 10 years if the franchisee is in good standing.
Obligations and Restrictions:The franchisor strongly believes that the success of the franchised business will depend to a large extent on the franchisee’s personal and continued efforts, supervision and attention. Unless the franchisor permits otherwise in writing, the franchisee must devote full time, energy and best efforts to the management and operations of the Honest-1 Auto Care center.
Total Number of Units: 22 units
Investment Table:
Initial Investment:
| Name of Fee | Low | High |
|---|---|---|
| Initial Franchise Fee | $25,000 | $25,000 |
| Leasehold Improvements | $0 | $15,000 |
| Equipment Package | $56,000 | $73,000 |
| Signage | $16,000 | $29,000 |
| First and Last Month's Rent and Security | $16,500 | $30,000 |
| Utility Deposits | $l,000 | $2,000 |
| Opening Inventory and Supplies | $8,000 | $14,000 |
| Grand Opening Advertising | $3,000 | $5,000 |
| Training Expenses | $5,000 |
$5,000 |
| Miscellaneous Pre- Opening Costs | $l,000 | $3,500 |
| Advertising Fee -3 months | Not Calculable | Not Calculable |
| Royalty - 3 months | Not Calculable | Not Calculable |
| Additional Funds - 3 months | $25,000 | $50,000 |
| Total estimated Initial Investment | $156,500 | $231,500 |
Ongoing Fees:
| Name of Fee | Amount |
|---|---|
| Royalty | 6% of weekly gross sales |
| National/Regional Advertising | 1% of weekly gross |
| Local Advertising | Minimum 3% of weekly gross sales |
| Transfer/Training | $25,000 if the franchisee is an Area Representative or 50% of the then current initial franchise fee |
| Rental Markup | $0-$1,000 per month |
| Refresher Training | No charge |
| Renewal | No Charge |
| Audit | Cost of inspection or audit |
| Interest | Lesser of 2% above prime or highest contract rate of interest allowed by law |
| Confidential Operating Manuals | $500 |
| Costs and Attorneys' Fees | Will vary under circumstances |
| Indemnification | Will vary under circumstances |
| Relocation Expenses | Costs of relocation |
| Income Taxes | In addition to monthly royalty fees, the franchisor has the right to collect from the franchisee the cost of all income taxes, sales taxes and other taxes arising as a result of our licensing of intellectual property to the franchisee in the state where the franchise is located, as well as any assessment on the royalty fees, advertising contributions and any other income the franchisor receives from the franchisee. |
Date of FDD: 2007
The above information has been taken from the UFOC/FDD of Honest-1 Auto Care, Inc.
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