More Space Place is a retail furniture store focusing on space-saving and proprietary furniture products. The franchise offers solutions for maximizing home and office space.
Key Insights
- More Space Place started with a clear vision to establish new benchmarks of excellence within their field, combining industry expertise with customer-focused innovation to create sustainable competitive advantages that benefit both franchisees and the communities they serve.
- Professional development keeps staff current with industry trends, best practices, and emerging technologies to ensure optimal service delivery and customer satisfaction while maintaining competitive advantages and adapting to changing market conditions and client expectations.
- The market demonstrates consistent growth driven by demographic changes, evolving consumer expectations, and increased awareness of service quality, creating opportunities for businesses that can adapt to changing needs while maintaining high standards of professional service delivery and customer satisfaction.
Franchise Fee and Costs to Open
Exploring the financial picture of More Space Place 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 $150,050 - $249,100, along with a franchise fee of $59,500 - $59,500.
Financial Performance and Revenue
Yearly gross sales of $1,310,330 and estimated earnings of $131,033 - $157,240 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 1.9-3.9 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
More Space Place provides new franchisees with comprehensive training. This initial program, spanning two weeks, is conducted at their corporate headquarters in Sarasota, Florida. The franchisor offers extensive resources encompassing sales techniques, operational guidelines, and marketing strategies, designed to support franchisee success. More Space Place recommends utilizing these tools for a strong business launch.
Legal Considerations
Legal considerations for a More Space Place 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
A franchisee might consider the landscape of local storage solution providers, understanding their unique offerings and customer base. The intricacies of managing inventory, staff training for custom installations, and maintaining service standards present operational considerations. Additionally, the reliance on specific manufacturers for storage components and timely delivery warrants attention within the supply chain.
Franchise Datasheet
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