How much does a Letip franchise owner make?

Letip franchise earnings and revenue can vary significantly from one franchisee to another.
The Letip franchise owner profits can be influenced by labor costs, lease rates, hours worked as well as other factors.

Letip unfortunately does not disclose financials on how much Letip franchise owners make. This means they do not disclose sales or earnings for franchisees operating in the U.S.

Every franchisor is required by law to disclose income statements and balance sheets for how the franchisor is performing but not for the franchisee level. Unfortunately, Letip does not make it easy to understand franchisee financial performance. This can be seen as a red flag and it is important to be that much more diligent in your conversations with Letip franchisees. Do note that Letip is not alone as about 40% of franchises do not disclose franchisee financial performance.

At Vetted Biz, we suggest you to speak with 5 to 10 Letip franchisees to understand how much money they are making from their Letip business.

You should also speak to former Letip franchisees to understand why they left the system. Did they sell their Letip at a profit? Were they forced to close their Letip franchise down because it kept losing money?

What is the Letip franchise fee?

Owning a Letip franchise requires 17% royalty fee and 1% marketing fee. These two expenses represent the main ongoing costs you can expect to pay the franchisor throughout the franchise relationship. There may be other ongoing fees disclosed in the Letip Franchise Disclosure Document

Keep in mind, there is also an initial Letip franchise fee of $30,000 that is included in the initial investment amount of $38,110 to $115,400. Depending on the franchise agreement you sign, you might have to pay the full franchise fee again if you decide to extend the Letip franchise relationship. Consult with a licensed franchise attorney to understand exactly what you receive for paying the Letip franchise fee of $30,000.

Visit the Letip metrics tab to explore the financials for this business, royalty and marketing fees compare to other Professional Business Services franchises. You can also compare these fees for 2,000+ franchises currently offered in the U.S.

When was Letip founded?

Letip started offering franchises in 2019. Letip was founded 3 years ago in 2019.

At Vetted Biz, we recommend franchises have 3-5 corporate locations and 5+ years of experience before offering a franchise. There needs to be proof that the business model works and is replicable before offering the franchise to other!

How many Letip locations are in the U.S.?

As of 2020, there were 0 locations across the U.S. There are also 55 corporate locations. Most Professional Business Services franchises like Letip have more franchised locations than corporate locations.

How many Letip franchises opened over the past few years?

Over the prior 3 years we have data for, Letip has opened 0 outlets throughout the U.S. Visit the Letip metrics tab to explore how the openings compare to other Professional Business Services franchises.

How many Letip franchises closed over the past few years?

Over the prior 3 years we have data for, Letip has closed 0 outlets throughout the U.S

Visit the Letip metrics tab to explore how the openings compare to other Professional Business Services franchises.

Is Letip growing? Are they opening more locations than they are closing?

The net unit growth rate for Letip over the past 3 years is 0%. Over the last year we have data for, Letip had a net unit growth rate of 0%.

Without a comparison, this number doesn’t mean much. Compare how the Letip growth rate compares to 2,000+ other franchises and Industry franchises like Letip. More info in the Letip metrics tab.

Is Letip franchise eligible for an SBA Loan?

Letip is not eligible for SBA loans including the 7(a) loan last time we checked.

Letip franchise does not have a SBA Franchise ID and was not in the SBA Franchise Directory. The SBA Franchise Directory will only include business models like Letip that are reviewed and found eligible under SBA’s affiliation rules and other eligibility criteria.

To find out more about the SBA loan program for franchising click here.

Is Letip a franchise in the United States?

According to the SBA, Letip does not meet the Federal Trade Commission (FTC) definition of a franchise.

Many popular brands like Starbucks and Topgolf are not franchises in the U.S. but franchise outside of the United States. Be sure the franchisor provides you with an updated Franchise Disclosure Document as this is one of the key indicators that the business opportunity is truly a franchise in the U.S.

The FTC Franchise Rule requires franchisors to provide all potential franchisees with a disclosure document (FDD) containing 23 items of about the franchise, its officers, and other franchisees. Be sure that Letip provides you with an FDD if you are in discussion to buy a Letip

What is the Letip Franchise for Sale Rate?

The Letip systemwide health and franchisee satisfaction can be measured by the Letipfranchise for sale rate. The franchise for sale rate is calculated by the percentage of units transferred to new franchisees and reacquired by franchisor.

Letip franchise for sale rate over the past 3 years is 0%. Over the last year we have data for, Letip had a franchise for sale rate of 0%.

Without a comparison, this number doesn’t mean much. Compare how the Letip franchise for sale rate compares to 2,000+ other franchises and Industry franchises like Letip. More info in the Letip metrics tab.

What is the Letip Franchise Failure Rate?

Letip franchise failures comprise franchise terminations, franchise non-renewals, and franchises that ceased operations for other reasons. The failure rate is one of the most important franchise metrics to consider when investing in a franchise!

Letip failure rate over the past 3 years is 0%. Over the last year we have data for, Letip had a franchise failure rate of 0%.

Without a comparison, this number doesn’t mean much. Compare how the Letip franchise for sale rate compares to 2,000+ other franchises and Industry franchises like Letip. More info in the Letip metrics tab.

How can I find out more details on Letip franchise?

Visit the Letip metrics tab to explore franchise profitability, industry comparables and more. Become a Vetted Member today today for exclusive access on this franchise opportunity!