Start a Meals of Hope Franchise in 2024

Franchise 500 Rank: N/R Not ranked last year

Initial investment: $61K - $72K

Units as of 2024: 8 700.0% over 3 years

Company Overview

About Meals of Hope

Industry	Food
Related Categories	Miscellaneous Food/Beverage Businesses, Meal Prep/Delivery
Founded	2007
Parent Company	Meals of Hope Inc.
Leadership	Stephen Popper, President & CEO
Corporate Address	2221 Corporation Blvd. Naples, FL 34109-2017
Social	Facebook, Twitter, LinkedIn, Instagram

Business Overview

Franchising Since	2021 (3 years)
# of employees at HQ	19
Where seeking	This company is offering new franchises throughout the US.
# of Units	8 (as of 2024)

Information for Franchisees

Here's what you need to know if you're interested in opening a Meals of Hope franchise.

Financial Requirements & Ongoing Fees

Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee Definition: The initial fee paid to a franchisor to join their system What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.	$40,000
Initial Investment Definition: The total amount necessary to begin operation of the franchise What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.	$61,050 - $71,925
Net Worth Requirement Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.	$75,000 - $100,000
Cash Requirement Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.	$15,000 - $25,000
Veteran Incentives Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.	10% off franchise fee
Ad Royalty Fee Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts. What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.	5%
Term of Agreement Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.	5 years
Is franchise term renewable?	Yes

Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

In-House Financing	Meals of Hope offers in-house financing to cover the following: equipment, inventory, accounts receivable
Third Party Financing	Meals of Hope has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, accounts receivable, payroll

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training	3 hours
Classroom Training	15.5 hours
Ongoing Support	Newsletter Meetings & Conventions Toll-Free Line Grand Opening Online Support Security & Safety Procedures Lease Negotiation Field Operations Site Selection Proprietary Software Franchisee Intranet Platform
Marketing Support	Co-op Advertising Ad Templates Regional Advertising Social Media SEO Website Development Email Marketing Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed?	Yes
Can this franchise be run from home/mobile unit? Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.	Yes
Can this franchise be run part time? Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.	Yes
Are exclusive territories available? Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.	No

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Additional Rankings

Curious to know where Meals of Hope ranked on other franchise lists? Find out below.

Ranked #135 in 2024

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Disclaimer

The information on this page is not intended as an endorsement or recommendation of any particular franchise or business opportunity by Entrepreneur Media. Our listings and rankings are solely research tools you can use to compare opportunities. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise or business opportunity. That should include reviewing the company's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees/licensees/dealers.

Updated: December 12th, 2022

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Meals of Hope

Company Overview

About Meals of Hope

Business Overview

Information for Franchisees

Financial Requirements & Ongoing Fees

Financing Options

Training & Support Offered

Operations

Additional Rankings

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