Lendio franchise
2022 filing · April 29, 2022Growing
Lendio at a glance
A small-business financing service helping owners find and apply for loans and other funding through Lendio's lender marketplace. At the end of 2021 there were 121 Lendio locations in the US, all franchised.
The business
- Industry
- Business services
- Franchisor
- Lendio Franchising, LLC
- The company that sells the franchises
- Franchising since
- 2016
- 6 years of selling franchises
- Franchisor based in
- Lehi, Utah
What you pay
- Cost to open
- $46K–$117K
- Fee, build-out and opening working capital
- Franchise fee
- $46,000
- Or $34,500 for existing franchisees
- Royalty
- 30%–70% of revenue
- A business generation fee of 30% of gross revenue from the owner's own clients and 50% to 70% from clients served through Lendio's corporate accounts program, with a quarterly minimum
- Brand fund
- Yes
- 2% of gross revenue, with a monthly minimum
- Renewal fee
- See terms
- 20% of our then-current initial franchise fee
- Agreement length
- 5 years
- Territory
- Limited
- Limited protection
- Franchisor financing
- None offered
Where it is
- US locations, 2021
- 121
- Franchised and company-owned
- Franchised
- 121
- Company-owned
- 0
- Change in 3 years
- +74
- Franchised locations, 2019–2021
- States
- 29
- Most in California, Florida and Texas
From Lendio Franchising, LLC’s 2022 filing; revenue and net income from its audited financial statements, page 46; SBA status from the SBA Franchise Directory, October 28, 2026.
Franchisor revenue is the company that sells the franchises (royalties, fees and anything else it earns), not what a location makes.
Where it ranks
Lendio among all franchises with the same figure.
| Figure | Lendio | Among all franchises |
|---|---|---|
| Cost to open, midpointHalfway between the low and high estimate | $81,375 | Costs less than 92% of franchises |
| Franchise feePaid once, when you sign | $46,000 | Higher than 61% of franchises |
| US locationsFranchised and company-owned | 121 | More than 79% of franchises |
How much a Lendio franchise costs
Opening one Lendio costs an estimated $45,650 to $117,100. That covers the franchise fee and everything else needed to open, through the first months of working capital. It is one of the franchises under $50K.
The biggest costs are initial franchise fee ($34,500 to $46,000) and initial marketing expenditures ($3,000 to $12,000). Here is every line of the estimate as filed:
| What it pays for | Range | Low | High |
|---|---|---|---|
| Initial Franchise Fee | $34,500 | $46,000 | |
| Opening Kit | $1,500 | $7,500 | |
| Rent - 3 months | $0 | $9,000 | |
| Utility & Security Deposits | $0 | $1,000 | |
| Leasehold Improvements | $0 | $5,000 | |
| Furniture and Fixtures | $0 | $2,500 | |
| Computer System, Equipment & Supplies | $1,000 | $7,500 | |
| Business Licenses | $250 | $2,500 | |
| Legal and Accounting Fees | $1,000 | $2,500 | |
| Initial Marketing Expenditures | $3,000 | $12,000 | |
| Insurance | $1,000 | $1,500 | |
| Technology Fees -3 months | $900 | ||
| Travel Expenses for Initial Training | $1,000 | $7,200 | |
| Additional Funds - 3 months | $1,500 | $12,000 | |
| Total | $45,650 | $117,100 | |
Source: Lendio Franchising, LLC, 2022 filing, page 15
Lendio franchise fee
The franchise fee is $46,000, or $34,500 for existing franchisees. You pay it when you sign the franchise agreement.
Source: Lendio Franchising, LLC, 2022 filing, page 11
Royalty and ongoing fees
| Royalty | A business generation fee of 30% of gross revenue from the owner's own clients and 50% to 70% from clients served through Lendio's corporate accounts program, with a quarterly minimum. |
|---|---|
| Brand or marketing fund | 2% of gross revenue, with a monthly minimum. |
| Technology Fee | Currently $300 per month |
| Renewal Fee | 20% of our then-current initial franchise fee |
The typical franchise royalty is 6% of sales, plus 2% for marketing. See franchise fees and royalties to compare.
Source: Lendio Franchising, LLC, 2022 filing, pages 12 and 13
Other fees as filed, from page 12. The filing lists every fee, including late fees and audit costs.
Sales and earnings
No figures Lendio does not share sales or profit figures for its locations. Talking to current and former franchise owners is the usual way to learn what a location earns.
Source: Lendio Franchising, LLC, 2022 filing, page 34
Growth and closures
Share of franchised locations, 2021 / 2019–2021. Typical means the median: half of brands are above it, half below.
| Measure | Lendio | Typical business services brand | Typical franchise |
|---|---|---|---|
| GrowthNet change in franchised locations | +81% / +157% | 0% / +3.6% | +1.2% / +10% |
| ClosuresTerminated, not renewed or stopped operating | 3% / 55% | 5.9% / 25% | 3.9% / 16% |
| Bought backLocations the franchisor took back | 0% / 0% | 0% / 0% | 0% / 0% |
Typical business services brand is the median of the 114 brands in business services franchises with three years of counts.
How Lendio compares
Of the 324 business services franchises on this site, Lendio is the 81st cheapest to open and the 71st largest by number of locations.
| Figure | Lendio | Typical business services brand | Typical franchise |
|---|---|---|---|
| Cost to open, low end | $46K | $77K | $222K |
| Cost to open, high end | $117K | $136K | $477K |
| Franchise fee | $46K | $45K | $40K |
| US locations | 121 | 32 | 21 |
| Shares earnings figures | No | 187 of 324 | 2,147 of 3,352 |
Typical is the median across the 324 brands in business services franchises; typical franchise, across every brand here.
Locations opened and closed
| Year | Franchised | Company-owned | Opened | Closed |
|---|---|---|---|---|
| 2019 | 56 (+9) | 0 | +24 | −15 |
| 2020 | 67 (+11) | 0 | +20 | −9 |
| 2021 | 121 (+54) | 0 | +56 | −2 |
Closed or left counts terminations, non-renewals, locations bought back by the franchisor and locations that stopped operating.
See which brands grew most in the fastest-growing franchises rankings.
More in the guides: franchise failure rates.
Source: Lendio Franchising, LLC, 2022 filing, page 35
Where Lendio locations are
At the end of 2021, Lendio had franchised locations in 30 states and territories. The most are in California, Florida and Texas.
- California17
- Florida12
- Texas12
- New York8
- Michigan7
- Colorado6
| State | Franchised |
|---|---|
| California | 17 |
| Florida | 12 |
| Texas | 12 |
| New York | 8 |
| Michigan | 7 |
| Colorado | 6 |
| Pennsylvania | 6 |
| Tennessee | 6 |
| Arizona | 5 |
| South Carolina | 5 |
All 30 states
| Utah | 5 |
|---|---|
| Georgia | 4 |
| Maryland | 4 |
| Nevada | 3 |
| Washington | 3 |
| Arkansas | 2 |
| New Hampshire | 2 |
| Ohio | 2 |
| Alabama | 1 |
| District of Columbia | 1 |
| Idaho | 1 |
| Illinois | 1 |
| Kansas | 1 |
| Louisiana | 1 |
| Maine | 1 |
| Minnesota | 1 |
| Missouri | 1 |
| North Carolina | 1 |
| Oklahoma | 1 |
| Vermont | 1 |
Source: Lendio Franchising, LLC, 2022 filing, page 36
Who owns Lendio?
Lendio franchises are sold by Lendio Franchising, LLC. It is a subsidiary of Lendio, Inc.
From Lendio Franchising, LLC’s 2022 filing, page 8.
Lawsuits and bankruptcy
| Lawsuits and regulatory actions | None. The filing says no litigation has to be disclosed. |
|---|---|
| Bankruptcy | None. The filing says no bankruptcy has to be disclosed. |
Franchisors must disclose lawsuits and bankruptcies involving the company, its parents and affiliates, and its executives. Many cases are routine disputes with franchisees over fees or contracts; read the descriptions in the filing and ask current owners about anything that worries you.
Source: Lendio Franchising, LLC, 2022 filing, litigation on page 10, bankruptcy on page 11
Lendio filings
The figures on this page come from Lendio Franchising, LLC’s 2022 filing, issued April 29, 2022, on record with the NASAA Electronic Filing Depository.
| Filing | Issued | Registry | On this page |
|---|---|---|---|
| 2022 filing | April 29, 2022 | NASAA depository | Costs, fees and locations, 2019–2021 |
Each link opens the filing as a PDF. See the newest filings across all brands.
