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IKOR Franchise Costs & Fees

Date of Incorporation: 1991
Franchising Since: 2008
Headquarters: Kennett Square, Pennsylvania

Business Description: IKOR International, LLC is the franchisor. The distinguishing characteristics of the system include recognized programs for life management, which includes procedures for client evaluation, coordinating client healthcare, personal care and financial issues, and strategies for client asset management; its proprietary DATIKOR software; guidelines for providing personal guardianship and estate guardianship services; sales techniques and programs for marketing to institutions, professionals, families and others who engage IKOR businesses on behalf of seniors and the disabled persons; and, procedures for the operation and management of an IKOR business.

Franchise Offer: The franchisor franchises businesses offering life management, healthcare advocacy, financial advocacy, and personal and estate guardianship services to seniors and the disabled under the “IKOR” mark.

Financial Assistance: The franchisor does not offer direct or indirect financing and does not guarantee a franchisee’s note, lease or other obligations.

Training and Assistance: Prior to attending the Initial Training Program, franchisees must pass the exam to be a Certified Senior Advisor. The Operating Principal and Key Manager (if franchisees have a Key Manager) must attend and complete to the franchisor’s satisfaction the initial Training Program at least 15 days prior to the opening of the IKOR business. If franchisees are an entity, at least one of the trainees must be the general partner, principal shareholder, or manager as appropriate. If franchisees have a designated Key Manager, then he/she will be the other trainee. In addition, Nurse Advocates must attend and complete, to the franchisor’s satisfaction, the initial training program for Nurse Advocates at the next available initial training program before performing any billable Client work for franchisees. The Training Program will last approximately 10 business days. The training for Nurse Advocates will last approximately 4 business days. Both training programs involve classroom and practical experience. The franchisor will provide franchisees with templates and forms for training materials for them to use in training their personnel. To assist franchisees in the operation of their IKOR business, the franchisor may offer additional training programs and/or refresher courses to franchisees, their manager and/or their employees.

Territory: The territory is identified in the Franchise Agreement, is defined by ZIP codes or other geographic or political boundaries and will include a population of up to 200,000 people, determined in accordance with the most current US Census data. Except as otherwise provided in and during the term of the Franchise Agreement, for so long as franchisees comply with the terms and conditions of the Franchise Agreement, the franchisor will not establish and operate, nor license any party other than the franchisee to establish and operate, any IKOR Business under the system and the proprietary marks within the territory.

Term of Agreement and Renewal: The length of the initial franchise term is 5 years. If franchisees are in good standing and satisfy the renewal conditions, they have the right to renew the Franchise Agreement for 4 successive, additional 5-year periods, provided certain conditions are met.

Obligations and Restrictions: Upon executing the Franchise Agreement, franchisees will designate an individual to serve as their Operating Principal. The Operating Principal will have the full authority to act on their behalf in all matters related to the performance of the Franchise Agreement and the operation of the IKOR business. If franchisees are an individual, they will perform all the obligations of the Operating Principal. With the franchisor’s consent, franchisees may delegate the day-to-day operation of the IKOR Business to a full time manager (Key Manager). The IKOR Business must, at all times, be staffed with at least 1 person who has successfully completed the franchisor’s Initial Training Program before assuming any managerial responsibility. Franchisees must offer and sell all of the services that the franchisor requires and only the services that the franchisor authorizes for the system. Franchisees will not offer to sell or provide at or through the IKOR business any merchandise, products or services that have not been approved by the franchisor in writing, or use the premises for any other business purpose other than the operation of the IKOR Business.

Estimated Number of Units: 35

Investment Tables:
Initial Investment
Name of Fee Low High
Franchise Fee $35,000 $35,000
Leases and Security Deposits $2,500 $8,333
Initial Inventory $2,000 $4,000
Insurance $3,100 $4,500
Training Expenses $3,000 $6,000
Opening Marketing $4,000 $7,000
Furniture and Fixtures $2,000 $4,000
Computer Hardware and Software Requirements $4,000 $6,000
Utilities $1,500 $2,000
Business Licenses and Permits $100 $1,000
Professional Fees $3,000 $5,000
Additional Funds - 3 months $20,000 $50,000
ESTIMATED TOTAL $80,200 $132,833
Other Fees
Type of Fee Amount
Royalty 8% of Gross Receipts.
Brand Development Contribution 0.5% - 1.0% of Gross Receipts.
Local Marketing At least 1% of Gross Receipts.
Invoicing Fee $5 per invoice.
IT Maintenance Fee $250 per month.
Management Oversight Fee $100 per month per client.
Collection Costs, Attorneys’ Fees, Interest Fees and costs incurred/interest up to 18% or highest lawful interest rate for commercial transactions.
Insurance Cost of insurance; if franchisees fail to maintain insurance as required, the franchisor has the right to procure insurance on the franchisee’s behalf and charge an administrative fee of up to 18% in addition to the cost of the insurance.
Audit/Inspection Costs Cost of audit and/or inspection.
Financial Records and Report Cost of preparing unaudited financial statements
Taxes on Payments to the Franchisor Amount of tax or assessment.
Transfer Fee 50% of the then-current franchise fee for a franchise at the time of the transfer or 100% of the then-current franchise fee if a Franchisee Consultant or Broker commission is payable.
Renewal Fee 10% of the then current franchise fee at the time of the renewal for each renewal of a term approved by the franchisor.
Initial Training Expenses No fee for the franchisee, Operating Principal, Key Manager and Nurse Advocates. Franchisee must pay for meals, transportation, and lodging for all.
Refresher and Ongoing Training Courses Expenses Franchisee must pay for meals, transportation, and lodging for all, and the franchisor reserves the right to charge the then-current training fee for courses that the franchisor requires franchisees to attend, typically upon a significant change to the System. The franchisor does not currently expect the meeting fee to exceed $500 per attendee but it may exceed that amount in the future.
Conferences Franchisee must pay for meals, transportation, and lodging for all, and the franchisor reserves the right to charge to charge a fee to cover speakers, meals, and activities at any such conference.
Indemnification Amount of claim or judgment.
Supplier Approval/Testing Costs Costs of testing.
Post-Termination and Post-Expiration Expenses Costs and expenses associated with the franchisee’s ceasing of and de-identification with the business.
Insufficient Funds Any service charges the franchisor incurs.

The above information has been taken from the FDD of IKOR. Year of FDD: 2016

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