Frequently Asked Questions…
We invite you to make a list of your own questions to discuss with us. This is only a partial list of some of the most frequently asked questions and is intended to give you a better idea of what’s involved in purchasing and operating a PortraitEfx franchise.
Q. How much does it cost to develop a PortraitEfx franchise?
A. Our Initial Franchise Package which consists of the franchise fee, equipment, marketing and supply package (virtually everything you’ll need to start your business) is $29,500. We also suggest you have between $4,000 and $7,000 in additional funds for other start-up costs and miscellaneous expenses and/or purchases. (Please refer to Item 7 of the PortraitEfx UFOC for complete details.)
Q. What is included in the equipment, marketing and supply package?
A. This is a complete business start-up package that includes the initial franchise fee of $20,000 and $9,500 in professional camera equipment which includes a NikonD200 camera, a complete studio lighting system, an I-Mac G-5 dual-core computer loaded with the memory and software you’ll use, a complete stationery package and our initial direct mail marketing campaign. (Please refer to Exhibit C of the PortraitEfx UFOC for a complete listing.)
Q. What if I already have my own equipment?
A. We don’t require you to purchase anything you don’t need. If you already have items that are on our equipment and supply list, or that are comparable and acceptable to us, we will gladly reduce the price of the equipment package according to our cost guide.
Q. What kind of training will I receive?
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Your initial training will cover all of the essential fundamentals needed to get your business started right. As a new PortraitEfx franchisee, you will have access to our proprietary web-based introductory training program followed by five days of high-impact, hands-on training at our corporate headquarters in Dallas, Texas. You will also receive a comprehensive confidential operation manual and the PortraitEfx Professional Photographer Certification upon completion of your initial training. Optional advanced trainings that offer unlimited possibilities for growing your business are also available.
Q. Can I work out of my home?
A. Yes, you can. To keep costs down and enhance your lifestyle, we encourage new franchisees to initially work from their homes and/or on-location. Then, as you grow your business, you have the option to move into a commercial studio location if you choose. If you currently have a studio location, we want to help you grow it and for those who want immediate separation of home and work, we have a plan for you as well.
Q. Do I need prior experience in the photography industry?
A. No, not at all. Our training modules are designed for you. Whether you’re a newcomer to photography, an aspiring amateur, or if you’re already working as a professional photographer, we’ll provide a solid foundation to build your business and provide the training, support and tools that will enable you to achieve more in less time, maximize profitability, attract more customers and clients than you ever thought possible as well as stand out from the competition.
Q. Is financing available?
A. Yes, financing is an option for qualified candidates. PortraitEfx offers in-house financing for $10,000 of the total franchise package (currently $29,500). Your monthly payment (which is deferred for the first 4 months) is only $202.76 based on a 5 yr. note at 8% interest.
Q. How much are the royalty fees?
A. Royalties are based on 5% of your gross sales with a minimum of $200 per month. Royalty payments do not begin until the 1st day of the second month after you attend your initial training.
Q. How much can I make as a PortraitEfx franchise owner?
A. PortraitEfx, Inc. makes no claims as to your earnings potential. However, we believe your earnings will be determined by how hard you work and how closely you follow the PortraitEfx programs.
Q. Is my territory exclusive?
A. We will not award another franchise within your territory and you have total exclusivity with accounts such as schools, preschools, daycares and churches that have established locations within your territory.
Q. How is a franchise territory determined?
A. Your territory is defined by zip code and will include a minimum population base of 100,000. You will be provided with a listing of zip codes that make up your territory and a map which clearly illustrates your franchise area.
Q. What is the term of my franchise agreement?
A. The initial term of your agreement is 10 years. You then have the option to renew for no additional franchise fee, provided your franchise is in good standing.
Q. How do I get started?
A. First, complete and submit the online “Request For Consideration” form (available at www.portraitefx.com/rfc.php). Upon receipt of your request, we will contact you by phone to discuss the interview process, the information received, available territories, and provide a more detailed business overview. We will also answer any questions you may have at that time. After the interview and assuming there is a mutual interest, we will send a copy of our UFOC, franchise agreement and other materials for your review. Once the necessary disclosure requirements have been met, you may then finalize the purchase of your Franchise Agreement, schedule your training and be on your way to becoming a PortraitEfx franchise owner. |