Furniture Medic is a furniture and wood restoration business offering repair, refinishing, and cabinet transformation services. The franchise provides high-quality restoration for furniture and wood fixtures in residential and commercial properties.
Key Insights
- Furniture Medic began as a vision to address the need for furniture repair and restoration services, evolving into a recognized brand that offers specialized solutions for furniture damage. The franchise operates on a model that empowers franchisees to provide expert services directly to customers, leveraging a proven system for operations and client satisfaction.
- The business delivers a wide array of furniture repair and restoration services, covering everything from minor cosmetic touch-ups to extensive structural repairs. This comprehensive service offering caters to residential and commercial clients, addressing wear and tear, damage from moving, and other issues that affect the lifespan and appearance of furniture.
- Operating within the home services and furnishings industry, Furniture Medic taps into a consistent demand for furniture maintenance and repair. The industry reflects consumer interest in sustainability and cost-effectiveness, as repairing existing items often provides a practical alternative to replacement.
Franchise Fee and Costs to Open
Exploring the financial picture of Furniture Medic gives insight into both the upfront commitment and the potential revenue opportunity. According to FDD Item 7, opening this franchise typically involves an investment in the range of $86,945 - $145,250, along with a franchise fee of $50,000 - $50,000.
Financial Performance and Revenue
Yearly gross sales of $80,502 and estimated earnings of $9,661 - $12,076 show the potential financial performance of this franchise. These figures are crucial for prospective franchisees as they help to project revenue and profitability. They offer insight into the business's ability to generate income and can be used to compare its performance against other investment opportunities. The Franchise Payback Period of 11.2-13.2 provides an estimation of the time it might take for an owner to recover their initial investment. This metric is a key consideration for anyone evaluating the financial viability of a franchise, as it relates directly to the speed at which the business can become profitable. A shorter payback period can indicate a faster return on capital, which is a significant factor in making an informed decision about a franchise investment.
Training and Resources
Furniture Medic provides comprehensive training for new franchisees. This initial program, spanning two weeks, takes place at Furniture Medic's corporate headquarters. Franchisees receive operational guidance and business development resources. Furniture Medic offers ongoing support and access to a robust network of fellow franchisees. The franchisor provides marketing materials and operational manuals.
Legal Considerations
Legal considerations for a Furniture Medic franchisee are defined by the Franchise Disclosure Document (FDD) and the Franchise Agreement. This franchise does not disclose lawsuits or bankruptcy information in its FDD, but prospective franchisees should still review all terms thoroughly. Consultation with a qualified attorney is essential before making commitments.
Challenges and Risks
Franchisees may navigate intense local market competition, requiring a strong understanding of community needs and tailored service offerings. Managing operational complexity, from scheduling technicians to maintaining a fleet of vehicles, demands efficient systems. Reliance on specific supply chains for parts and materials can present procurement challenges, impacting turnaround times and customer satisfaction if disruptions occur.
Franchise Datasheet
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