Furniture Medic Franchise
Saturday, May 15, 2010 at 07:53PM On-site furniture repair and restoration
Joseph Lunsford wasn't looking to start a business when he moved into a new home and realized that several pieces of his furniture had been damaged in transit, but start one he did. He founded Furniture Medic in 1992 in response to his dissatisfaction with the long turnaround time that was common with most refurnishing shops. In 1996 Furniture Medic was acquired by ServiceMaster and has since grown to more than 600 locations throughout the United States, Canada and Europe.
Start-up Costs & Franchises Fees
What is the total cost to open a Furniture Medic Franchises?
Total Cost: $35,500-$78,900
Total Franchise Fees: $22,000 USD
Ongoing Royalty Fees: 7%
Ongoing Advertising Fees:
Term of Agreement: 5 years
Contact Information for Furniture Medic
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Furniture Medic |
Phone Number: (901)597-8600 |
Furniture Medic In the Press
No results at this time.Historical Expansion
In what year did Furniture Medic begin operations? 1992
When did Furniture Medic begin selling franchises? 1992
Year United States Canada International Corporate 2005 407 70 103 0 2004 407 70 103 0 2003 410 70 108 0 2002 470 59 98 0 2001 417 65 85 0
Future Expansion
Countries of Interest:
Franchise Financing Information
Cost In House Financing Available? 3rd Party Financing Available? Franchise Fee Yes No Initial Start-up Capital Yes No Plant, Property, and Equipment Yes No Inventory Yes No Accounts Receivable No No Payroll No No Other Sources for Financing: In-house vehicle financing
Training & Support
Support
In the Pressletter, Meetings, Toll free phone number, Internet referrals, Safety and Security procedures, Field support and site evaluation
Marketing
Ad slicks, National media
Franchise Operation Restrictions
This franchise can be run as a home based business franchise.International franchise business owners required to buy multiple units/master licenses; 40% of all franchise business owners own more than one franchise location.
Number of employees needed to run franchised unit: 1
Absentee ownership of this franchise business is not available to new franchisees. (100% of current franchise business owners are owner/operators)
Qualifications & Business Experience
Business Experience:
Industry experience General business experience Sales & marketing experience
Franchise Analyzer Professional's Inside Information
Can you buy this franchise for no money down? YesPlease note: You must download a free copy of Franchise Analyzer Professional to receive these benefits and so much more. Click here to download your FREE copy now.
What key terms in the franchise agreement can be negotiated? Cross-default provisions, arbitration clause, personal guarantee, default cure periods, non-compete agreement, favorable valuations for corporate buyout
Can you negotiate lower royalties during start-up? Yes
Can you purchase multiple franchises for a discounted franchise fee? Yes
Can you receive lower advertising fees? Yes
Will I know when the franchise break even? Yes
Will my personal assets including my home be safe in case my franchise business fails? Yes