When you invest in a SpeedPro franchise, the rewards go beyond the daily excitement of building your business. Many franchise owners discover a hidden advantage that adds long-term value and tax benefits that traditional employees simply don’t have access to.
Owning a business gives you the flexibility to manage your income, structure your expenses, and take advantage of deductions designed to support entrepreneurs. Here are a few potential benefits worth exploring with your CPA or financial advisor:
Deductible Operating Expenses
Royalties, marketing contributions, supplies, and technology fees are often considered normal business expenses and may be deducted to help lower your taxable income. These everyday costs are part of running your SpeedPro business and can add up to meaningful savings.
Example: If your SpeedPro studio brings in $300,000 in revenue and you spend $60,000 on supplies, marketing, and software, those costs could reduce your taxable income to $240,000.
That means you only pay taxes on the amount after those deductions.
Equipment & Buildout Deductions
From wide-format printers to computers and leasehold improvements, your initial investments may qualify for depreciation or Section 179 expensing. That means you could deduct a large portion of those costs right away, reducing your tax burden while investing in your business infrastructure.
Example: If you buy a printer for $40,000 and your accountant applies Section 179, you could deduct the entire $40,000 that same year, potentially saving around $10,000–$12,000 in taxes (depending on your tax rate).
Amortization of the Franchise Fee
The one-time $49,500 franchise fee isn’t just the key to joining the SpeedPro network; it may also be amortized over time, offering a potential tax-efficient way to account for this startup expense.
Example: If you amortize that $49,500 fee over 15 years, that’s a $3,300 annual deduction. Each year, you reduce your taxable income by that amount without spending any additional cash.
Business Travel & Professional Services
Traveling for training, visiting vendors, or attending business events? These expenses, along with professional services such as legal or accounting support, can often be deducted as legitimate business costs. It’s another way entrepreneurship gives you control over your financial picture.
Example: If you spend $2,000 traveling for franchise training and $3,000 on your CPA and legal fees, that’s $5,000 in potential deductions. At a 25% tax rate, that’s $1,250 less you owe at tax time.
Wealth-Building Opportunities
Many franchisees fund their business through 401(k)/IRA rollovers, turning their retirement savings into an income-generating asset. Instead of relying solely on traditional employment, you’re building equity in a business that can grow, scale, and even be sold in the future.
Example: If you use $150,000 from a 401(k) to start your SpeedPro, you’re investing pre-tax dollars into a business that could return $100,000+ per year in owner income all while building equity in an asset you control.
More Than a Business: It’s a Financial Strategy
Owning a SpeedPro franchise is about more than creating income; it’s about building long-term financial flexibility. Between potential deductions, wealth-building opportunities, and the support of a proven franchise model, SpeedPro helps entrepreneurs craft a smarter path to ownership.
Always consult a qualified CPA or tax advisor to understand which of these benefits apply to your situation and how to make the most of your business investment.