About MRI Franchise
MRINetwork is a professional staffing and recruiting franchise offering permanent placement and contract staffing services across a range of industries.
Operated under HireQuest, Inc., the brand has been franchising since 2022 and leverages decades of recruiting expertise through its Management Recruiters brand to connect employers with top talent in both direct hire and temporary staffing roles.
The franchise fee is $40,000.
MRI Franchise Cost & Fees
Minimum Investment
$44K
Average Investment
$70K
Maximum Investment
$96K
| Fee Type | Amount | Notes |
|---|---|---|
| Initial Franchise Fee | $40,000 | One-time payment upon signing |
| Royalty Fee | Recruiter Continuing Fee: 9% on first $500,000 of Net Cash In; 7% on $500,001 to $1,000,000; 5% on $1,000,001 to $2,000,000; and 3% on Net Cash In that exceeds $2,000,000. Contract Staffing Continuing Fee: 4.5% of Contract Staffing Payroll plus 18% of the Gross Margin. Minimum Annual Royalty: $12,000 less all Continuing Fees paid in the immediately preceding calendar year. of gross sales | Ongoing; paid monthly |
| Marketing/Ad Fund | 0.5% of Gross Funds | National brand fund |
| Total Investment Range | $44,050 – $96,090 | Includes build-out, inventory, working capital |
The investment range of $44K–$96K reflects variability in build-out costs, store size, lease terms, and market. The combined royalty (Recruiter Continuing Fee: 9% on first $500,000 of Net Cash In; 7% on $500,001 to $1,000,000; 5% on $1,000,001 to $2,000,000; and 3% on Net Cash In that exceeds $2,000,000. Contract Staffing Continuing Fee: 4.5% of Contract Staffing Payroll plus 18% of the Gross Margin. Minimum Annual Royalty: $12,000 less all Continuing Fees paid in the immediately preceding calendar year.) and marketing fee (0.5% of Gross Funds) are ongoing costs paid as a percentage of gross sales.
Investment Breakdown (Item 7)
| Item | Low | High |
|---|---|---|
| Initial Franchise Fee | $40,000 | $40,000 |
| Real Estate and Improvements | $0 | $2,000 |
| Computer Hardware | $0 | $4,500 |
| Applicant Tracking System | $900 | $2,100 |
| Online Recruiting Software | $1,100 | $6,100 |
| Cabling for Office | $0 | $1,900 |
| Internet | $0 | $300 |
| Office Furniture | $0 | $3,000 |
| Licensing Fees | $0 | $300 |
| Initial Office Supplies | $300 | $500 |
| Business Insurance | $1,750 | $2,000 |
| Professional Services | $0 | $2,500 |
| Miscellaneous | $0 | $500 |
| Salaries: Researcher | $0 | $6,240 |
| Account Executive | $0 | $9,000 |
| Project Coordinator | $0 | $9,000 |
| Printer (all in one) | $0 | $150 |
| Additional Funds (3 months) | $0 | $6,000 |
Additional Fees (Item 6)
| Fee Type | Amount |
|---|---|
| Transfer Fee | $5,000 |
| Renewal Fee | $0 |
| Audit Fee | Cost of Audit (not less than $1,000.00 if underreporting is found) |
| Overdue Account Fee | See Note 4. |
| Back Office Services Fee | $950 per month |
| Late Fee | 5% per month of the late payment |
| Overdue Report Fee | $50 per week |
| Interest | Lesser of 1.5% per month or maximum amount allowed by law |
| Additional Optional Training Fees | Varies |
| National Vendor Accounts | Varies based on services purchased |
| Annual Owners’ Meeting | Varies |
| Jump Start Fee | $5,000 |
| Non-Compliance Termination Fee | $15,000 |
| Indemnification | Will vary under circumstances |
| Collection Fees | See Note 13. |
| Direct Deposit Service Fee | $25 per month. |
| Security Deposit | 1% of Gross Funds until amount equals $15,000. |
| Workers’ Compensation Risk Fee | $200 per day. |
| Unemployment Claims Handling Fee | Up to 150% of the unemployment claims in excess of state unemployment premiums paid. |
| New Office Training | Costs of travel, room, and board to attend training. |
Training Program (Item 11)
| Detail | Information |
|---|---|
| Total Duration | 6 weeks (120-124 classroom hours, 168-238 on-the-job hours) |
| Classroom Training | 120-124 |
| On-the-Job Training | 168-238 |
| Training Location | Virtual (for most training), HireQuest in Goose Creek, SC (for Integration Training) |
| Additional Training | Additional optional training programs, meetings, and events are offered in person and virtually. Registration fees, travel, room, and board are the franchisee's responsibility. |
Territory Rights (Item 12)
| Detail | Information |
|---|---|
| Territory Type | Non-exclusive |
| Exclusive Territory | No |
| Description | Members who purchase a franchise receive a single site non-exclusive location. There are no minimum territorial rights under this franchise opportunity. There are no restrictions placed on you for soliciting and conducting your franchised business anywhere in the world. You may face competition from other franchisees, from outlets that we own, from other channels of distribution or competitive brands that we or our affiliates control. Existing members with legacy territories are under no obligation to permit another member to relocate in the legacy territory. If you choose to locate or relocate to a legacy territory, you may be required to pay a supplemental royalty to the existing member to obtain their consent. |
Renewal, Termination & Transfer (Item 17)
| Detail | Information |
|---|---|
| Initial Term | 10 years including any partial year |
| Renewal Term | at least five (5) years |
| Renewal Fee | $0 |
| Renewal Conditions | Franchisee must fully comply with the Agreement, execute general releases, and enter into Franchisor's then-standard form of franchise agreement for a new franchise, which may have materially different terms and conditions. Franchisee must also comply with current training requirements and upgrade operations to current standards and methods. |
| Transfer Fee | $5,000 |
| Transfer Conditions | Includes franchisor approval of new franchisee, payment of a $5,000 transfer fee, new franchisee assumes all obligations and completes training, and new franchisee executes a new Franchise Agreement including any personal guarantees. |
| Termination for Cause | Default of obligations under the franchise agreement, including failure to pay amounts when due, failure to comply with operational obligations, not generating sufficient Gross Funds ($3,000 within 6 months), bankruptcy, abandonment of business, material misrepresentation, engaging in conduct that unfavorably reflects on the System, failure to comply with laws/regulations, repeated noncompliance, seizure/foreclosure of business, levy of execution, conviction of felony/moral turpitude, unauthorized transfer, failure to comply with death/incapacity provisions, disclosure of trade secrets, prohibited employment practices, or failure to disclose non-compete restrictions. |
| Non-Compete Period | 24 months |
| Non-Compete Details | During the term of the franchise, franchisee and any shareholder owning more than 3% of capital stock, general partner, director, officer, manager, or key employee, or family member, cannot directly or indirectly engage in or hold ownership interest in any competing business (search, recruiting, placement, temporary staffing, employee leasing). After termination or expiration, for 24 months, franchisee, its principals, partners, members, and shareholders (and their family members) cannot have any interest in a competing business, solicit clients of the Franchise Business, or solicit/hire employees of the Franchise Business or other franchisees, or share confidential information with a competing business. |
Operations & Supply (Items 8 & 15)
| Detail | Information |
|---|---|
| Owner-Operator Required | Yes |
| Participation Details | A General Manager, which may be the franchisee or a person appointed by them, must directly supervise the Franchised Business on its premises and devote full time and best efforts to its operation (at least 32 hours per week). The General Manager must meet franchisor standards, not engage in other business activity without consent, and satisfy training requirements. |
| Required Suppliers | We may identify various “required suppliers” that your franchised business would be required to use. These required suppliers will meet our standards and requirements. We maintain a list of recommended suppliers, and we will update these lists periodically and reserve the right to change suppliers. We are the only approved supplier of this management and operations software for our franchised businesses. |
| Supply Restrictions | You may have to buy or lease items from the franchisor or a limited group of suppliers the franchisor designates. These items may be more expensive than similar items you could buy on your own. |
| Franchisor Revenue from Suppliers | $0 (0% of total revenue from required purchases in 2023) |
Financing (Item 10)
| Detail | Information |
|---|---|
| Financing Available | Yes |
| Description | Our affiliate HQ Financial Corporation offers limited financing to qualified franchisees for the purpose of financing your Franchise Business. Loans are to assist with the establishment of an MRI Franchised Business. Eligibility requirements include no outstanding obligations older than 30 days, satisfactory credit rating, agreement to extend Franchise Agreement term (if necessary), meeting current operating standards, and better than average qualifications. Interest rates are variable, agreed upon by both parties, typically a combination of points above the Prime Rate (e.g., 3 percentage points above Prime Rate, which was 7.5% in 2023, resulting in 10.5%). Security is required, including a security interest in trade accounts, notes receivable, and franchise rights. Franchisor may change or discontinue the financing program at any time. |
MRI Franchise Earnings — Item 19
Average Revenue
$21K
Median Revenue
$20K
Revenue Range
$27 – $202K
Sample Size
162 units
Past financial performance does not guarantee future results. Individual results will vary.
MRI Litigation & Risk Flags
Clean Litigation RecordMRI has no pending litigation actions listed in their FDD. There is also no bankruptcy history disclosed.
Litigation and bankruptcy data is sourced from Items 3 and 4 of the FDD. Always verify current status directly from the most recent FDD.
MRI System Growth
Total Units
170
Franchised
170
Company-Owned
0
MRI currently operates 170 franchised locations and 0 company-owned units. Unit count data is sourced from Item 20 of the FDD.
Unit History (Item 20)
| Year | Opened | Closed | Total |
|---|---|---|---|
| 2021 | 3 | 17 | 246 |
| 2022 | 6 | 29 | 203 |
| 2023 | 6 | 16 | 170 |
Transfers: 7 | Closures: 62
State Registrations
Registered in 14 states: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, Wisconsin
Franchisor Financials (Item 21)
Revenue
$37.9M
Net Income
$6.1M
Total Assets
$103.8M
Audited by FORVIS, LLP for year ending December 31.
MRI Franchise — FAQ
The total investment to open a MRI franchise ranges from $44,050 to $96,090, per their Franchise Disclosure Document. This includes the initial franchise fee of $40,000. The investment covers build-out, inventory, equipment, signage, working capital, and other startup costs.
MRI charges a royalty fee of Recruiter Continuing Fee: 9% on first $500,000 of Net Cash In; 7% on $500,001 to $1,000,000; 5% on $1,000,001 to $2,000,000; and 3% on Net Cash In that exceeds $2,000,000. Contract Staffing Continuing Fee: 4.5% of Contract Staffing Payroll plus 18% of the Gross Margin. Minimum Annual Royalty: $12,000 less all Continuing Fees paid in the immediately preceding calendar year. of gross sales, plus a 0.5% of Gross Funds contribution to the marketing/advertising fund. These fees are paid on an ongoing basis.
You can download the MRI Franchise Disclosure Document free on this page. The FDD is a public document filed with state franchise registries. Always also request the current FDD directly from MRI to ensure you have the most up-to-date version.
According to the Item 19 financial performance representation in their FDD, MRI franchise owners report average revenue of $21K and median revenue of $20K. This is based on a sample of 162 units. Past performance does not guarantee future results.
MRI has been franchising since 2022. The FDD shows an investment range of $44,050-$96,090, a Recruiter Continuing Fee: 9% on first $500,000 of Net Cash In; 7% on $500,001 to $1,000,000; 5% on $1,000,001 to $2,000,000; and 3% on Net Cash In that exceeds $2,000,000. Contract Staffing Continuing Fee: 4.5% of Contract Staffing Payroll plus 18% of the Gross Margin. Minimum Annual Royalty: $12,000 less all Continuing Fees paid in the immediately preceding calendar year. royalty, and includes an Item 19 earnings disclosure. There is no pending litigation. Review the full FDD and contact current franchisees listed in Item 20 before making any investment decision.
The franchise fee is $40,000 and the total investment ranges from $44,050 to $96,090 depending on location size and market. A minimum of $6,000 in liquid capital is required. Contact the franchisor directly for current net worth and liquid capital requirements, territory availability, and application details.
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Data Source & Disclaimer: This website is for informational purposes only. It is not an offer to sell or buy a franchise. This profile is based on publicly available FDD data sourced from state franchise registry filings. All information is for research purposes only and does not constitute legal, financial, or investment advice. Data may be outdated or contain errors. Always obtain the current FDD directly from MRI and consult a qualified franchise attorney before making any investment decision. FranchiseOverview.com is operated by Franchising Compliance, LLC and is not affiliated with MRI or any of its subsidiaries. To report an inaccuracy: info@franchiseoverview.com