How Much Does it Cost?
Meals of Hope is one of the most affordable mission-driven franchise opportunities
If you’re exploring the Meals of Hope franchise opportunity, you want to own a mission-driven business committed to making a difference, strengthening communities, and helping people who need it most.
This is why the costs of owning a Meals of Hope franchise are affordable by design. We want to attract entrepreneurs who share our mission to fight hunger and have a drive to go out and fulfill this mission in their communities.
The total costs to own a Meals of Hope franchise range from $61,050 to $71,925. The cost of the first event is approximately $11,500. Remaining costs are associated with general business startup. The ongoing costs of owning a Meals of Hope franchise are also kept low, because you don’t need an office, you can get started with no employees, and you don’t need to carry inventory. Your only ongoing expenses are contributing to the brand/marketing fund and the costs associated with networking with potential clients.
Overhead costs are low to the Packing Partner, because Meals of Hope handles all of the inventory carrying costs, warehousing, transportation and logistics costs. No employees are required, and the Packing Partner can work from home (WFH/WFA). The sponsor organizations pay for the food ingredients, provide the venue, and secure the volunteers you need to make every event a success.
“We’re all in the business of feeding people – and that mission comes first,” says Jack Day, Director of Franchise Development. “But from a business perspective, Meals of Hope is designed to be affordable and profitable for our franchise owners. Our model keeps the ongoing costs of doing business low – the ongoing marketing costs and customer acquisition costs are minimal, and the costs of the events are covered by the sponsors. Our franchise owners get the chance to build a strong business while giving back, the sponsors get to support their local communities, and the volunteers get to participate in an exciting, fun and rewarding event that makes a difference where they live. It’s a win-win-win.”
Can I finance my Meals of Hope business?
Absolutely. While Meals of Hope doesn’t offer direct access to financing, we do have relationships with two fantastic third-party lenders: Tenet Financial Group and Benetrends Financial who can help you secure the capital needed to launch your business.
Tenet Financial Group
Three separate options for funding your franchise:
- 401(K)/ IRA Rollover
- Non-SBA Term Loans
- Home Equity Line of Credit
Tenent Financial Group Funding Options
Benetrends Financial
They offer several options and an online calculator.
Want a deeper dive into the costs and fees?
For a comprehensive overview of the costs and fees associated with owning a Meals of Hope franchise, please review Item 7 from our most recent franchise disclosure document below:
| Type of Expenditure | Amount | Method of Payment | When Due | To Whom Payment is Made |
|---|---|---|---|---|
| Franchise Fee | $40,000 | Lump sum | At signing of Franchise Agreement | Meals of Hope Logistics, Inc. (Franchisor) |
| Lease, utility & security deposits | $0 - $375 | Lump sum | As incurred | Third-party suppliers |
| Initial Inventory/Initial Packing Event (This is a tax-deductible donation) | $11,500 | As agreed | First 30 Days of Operating | Meals of Hope, Inc. 501 (c)(3) |
| Mobile Phone, Computer Equipment and Software | $0 - $1,000 | As agreed | Before opening | Third-party suppliers |
| Furniture and Fixtures | $50 - $850 | As agreed | Before opening | Third-party suppliers |
| Vehicle | $0 - $1,500 | As agreed | Before opening | Third-party suppliers |
| Pallet Jack | $400 | As agreed | Prior to first event | Third-party supplier |
| Licenses and Professional Services | $1,100 to $2,300 | As agreed | Prior to opening | Governmental authorities; services Providers |
| Prepaid Insurance Premium | $2,500 to $3,000 | Lump Sum | Before opening | Insurance carrier or agent |
| Training Expenses | $500 to $1,000 | As agreed | As incurred | Hotels, restaurants, services providers |
| Additional Funds (3 months) | $5,000 to $10,000 | $5,000 to $10,000 | Before opening and during the first 3 months of operation | Various |
Total | $61,050 to $71,925 |
