No. Honest-1 provides the platform, training, and resources to be a successful franchise owner even if you don't have previous automotive industry experience However, our most successful owners have strong business acumen, management experience, and are actively involved in their local communities.
Honest-1 does not finance. However, we are an SBA Pre-Approved franchise and can recommend a number of qualified SBA lenders that will provide financing. Honest-1 will help you develop the business plan and package that you'll need to get financing.
RDs are responsible for selling and developing a large territory, which are typically comprised of 2.5 - 3 million people. With each franchise that you sell, you will share in a percentage of the fees and ongoing royalties, allowing you'll earn residual income from every new owner.
We have found that successful RDs generally have sales and marketing experience, corporate management experience and many have owned and managed their own businesses. Good networking skills and the ability to coach, train and support their owners are very important.
In order to qualify as a Region Developer, you must have a minimum net worth of $500,000, with at least $150,000 in liquid assets In addition, you must have a good credit rating. The Region Developer fee is $150,000 - $200,000.
Yes. We have a program that includes national franchise web portal advertising, broker / consultant group programs, and local and national franchise expos. Monthly coaching calls and one-on-one assistance from a member of our executive team with extensive franchise sales experience ensures ongoing training and support.
We've found that RDs are most successful when they focus on selling and developing other franchises, so they are typically prohibited from becoming Honest-1 owners themselves. If you would like to own stores, you must hire a general manager to run them.