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Updated RecentlyMetroNaps vs Office Evolution Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of MetroNaps vs Office Evolution including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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| Investment | $55,000 - $160,000 | $60,825 - $1,485,150 |
| Franchise Fee | $25,000 | $45,000 |
| Royalty Fee | 5% | 7.5% |
| Advertising Fee | - | 3% |
| Year Founded | 2003 | 2003 |
| Year Franchised | 2005 | 2013 |
| Term Of Agreement | 5 years | - |
| Term Of Agreement | 5 years | - |
| Renewal Fee | - | - |
Business Experience Requirements |
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| Experience | Franchisees must enjoy contributing to the success of their small business clients and fostering an environment that's positive, collaborative and supports that goal. The preferred candidate will be able to demonstrate a strong financial standing, sufficient liquidity and the resources necessary to develop a location/territory. To be considered for an Office Evolution franchise, you must meet the following requirements: *Have at least $150,000 in cash or liquid assets and total net worth of $300,000 *Provide $35,000 franchise fee per location | |
Financing Options |
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| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/No | -/Yes |
| Start-up Costs | No/No | -/Yes |
| Equipment | No/Yes | -/Yes |
| Inventory | No/No | -/Yes |
| Receivables | No/No | -/Yes |
| Payroll | No/No | -/Yes |
Training & Support |
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| Training | - | We offer training updates for your staff On-The-Job Training: 15 hours Classroom Training: 25 hours |
| Support | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet | Office Evolution has established an expert support team that has developed the operational processes, experience and marketing that has built our concept to what it is today. Not only will you receive start-up support for the important aspects of the business including technology, phone systems, and real estate, you will continue to receive support after you open. We will hold regular conferences to provide updated tools and ideas, offer training updates for your staff and share new developments and experiences from other franchisees in other markets. Purchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform |
| Marketing | Ad slicks | Co-op Advertising Ad Templates Regional Advertising Social media SEO Website development Email marketing |
| Operations |
Number of employees needed to run franchised unit: 1 - 1
Absentee ownership of franchise is allowed. | Absentee Ownership Allowed Number of Employees Required to Run: 1 |
Expansion Plans |
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| US Expansion | Yes | Yes |
| Canada Expansion | No | Yes |
| International Expansion | Yes | - |
Company Overviews
About MetroNaps
Looking for a company to support your regular afternoon snooze session? MetroNaps takes napping to the franchise world with its space-age-looking napping pods. The company promotes the benefits of sleep on workplace productivity, and it's expanding to spas, health clubs, airports and corporate offices. Who doesn't need a little peace and tranquility these days?
About Office Evolution
Exciting Growth Opportunities Ahead for Business Services
Founded in 2003, Office Evolution has always approached private office space and virtual office space
markets from a unique, entrepreneurial perspective. Our determination
to offer sole proprietors and small businesses real business solutions
has turned the idea of expensive executive offices and impersonal virtual office and co-working spaces
on its head. Our efforts have resulted in a growing number of business
centers located in key metro areas throughout the United States.
More and more people are seeking self-employment as an alternative to a possibly fickle and often frustrating corporate reality. Self-employment rates have been growing at an average of 4.5 percent annually most of this decade, adding roughly 1 million people per year, and across the country, enrollment in entrepreneurship programs at universities is booming, according to a recent Entreprenuer.com article by Jason Daley. With the advent of mobile computing and cloud technology, the opportunities for entrepreneurs are exploding. They no longer need an office, staff and equipment to get started in business and the cost of entry can be very low.
The best strategy is to stay flexible, keep things simple and focus on their business: a virtual office could be the perfect solution!
The total investment necessary to begin operation of an Office Evolution
franchised business is between $286,825 and $1,485,150. This includes
$63,324 to $65,150 that must be paid to the franchisor or its
affiliate(s).
The total investment necessary to begin operation of an Office Evolution acquisition business is between $133,325 and $990,150.
This includes $63,325 to $65,150 that must be paid to the franchisor or
its affiliate(s).
The total investment necessary to begin operation of
an Office Evolution conversion business is between $60,825 and $590,150.
This includes $18,325 to $590,150 that must be paid to the franchisor
or its affiliate(s).
#267 in Franchise 500 for 2020.