Hey Empire Builders,
Welcome to this week’s Franchise Empire Newsletter, where we share specific franchise opportunities that we think are interesting, and examples of everyday folks building their empires.
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Before we dive in…franchising was a means to an end for me. That “end” was to go full time as an entrepreneur. In other words franchising was just the vehicle.
Truth be told I never wanted to be “the franchise guy”, and I still don’t.
The undeniable reality is that I had 9 failed businesses prior to owning my first franchise, and I was ready to give up on my entrepreneurial dreams.
So I do believe that it’s probably the best shot a large % of people have at building a successful business the first time around.
The cool thing about businesses, and franchises specifically is you can SELL!!
I’ll tell you a quick secret… (you can’t sell your job). You don’t get handed a fat check from your employer after you peace out.
So you don’t need to love franchising or plan to do it forever to get your first business win under your belt, get free from the rat race…and then go start the business that you really want to.
Just a thought…
Tariq
CEO & Founder, Franchise Empire
Today, in 5 minutes or less:
✔ 1 Specific resale franchise for sale
✔ 1 Franchise of the week
✔ 1 Client Case study of someone just like you
✔ Latest episode of The Franchise Empire Show
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Aspiring Franchise Owners
FEATURED RESALE
Franchise resales possess many benefits for aspiring business owners – established cash flow, experienced employees, systems in place, and brand awareness to name a few.
This week, our featured resale comes from a longstanding member of the Neighborly network of brands: ShelfGenie. Established in 2007, ShelfGenie has 227 franchise units throughout the United States. They provide customized Glide-Out shelving, cabinets and storage solutions in kitchens, pantries, bathrooms, garages and other areas of the home.
ShelfGenie - San Antonio, TX:
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Started in 2009
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Neighborly brand
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Northern San Antonio Market
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Asking price of $640,000
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2022 Revenue of ~$1.0M
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Owners are retiring
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Vehicles, designers, and installers included
Franchise Empire’s Take:
- On the surface, this appears to be a profitable, turnkey business with a team in place and owners that are exiting due to retirement.
- ShelfGenie is a strong brand in the Neighborly network, boasting franchisee retention rates of 97%(!) over the past three-year period.
- Candidates interested in the home services space that want a turnkey opportunity could be a great fit for this business.
Curious to learn more about this particular franchise resale, or other resales available in your area?
CLIENT CASE STUDY
Lindsey was really unhappy at work, but with kids at home and a family to support the idea of becoming an entrepreneur felt scary and unrealistic. Check out how she and Zach made it happen.
Here are 5 Low Cost Franchises that make
$1,000,000 (Backed by Data)
Most People Waste Countless Hours Of Time Stuck In Confusion, Scoping The Internet, Trying To Find Winning Franchises.
This Will Save You So Much Time.
We’ve Done The Heavy Lifting For You And Narrowed It Down To 5 Low-Cost Franchises That Make $1,000,000 So You Can Save Yourself So Much time.
FRANCHISE OF THE WEEK
History:
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Very first corporate location started back in 1958 but didn’t start offering franchises until 1989.
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Acquired in 1978, in 2000 and then again in 2011 by FWRH – the current parent company.
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Based out of Wisconsin.
Numbers:
- Corporate Owned Territories: 5
- Franchise Units: 26
- Franchise Fee: $50,000
- Royalty: 5%
- National Marketing Fee: Currently $500/mo per store
- Total Investment Range: $487,456 – $714,362 for a Factory Store
- $269,684 – $404,157 for a Retail Store (must have a Factory Store nearby)
- Term: 10 years
**Numbers according to their FDD released on May 3, 2023
Description:
Verlo is a very unique Mattress store unlike any other mattress stores you’ll find. Each mattress is made inside the Factory Store where a customer could watch the entire process. They describe it like putting together a sandwich – you just need to know which ingredients and which order to assemble the mattress. It can even be done in just 10 minutes! Verlo has five base models to choose from and within each model you can make modifications based on size, comfort level, which type of sleeper you are, etc to make the mattress that will work best for your needs. They offer a lifetime warranty on the mattresses which means you can make modifications to your mattress if it’s not perfect. The first year that is included in the cost and every year after it’s a small price to pay vs buying a completely new mattress for thousands of dollars.
Financial Data:
Below tables taken from the Verlo Mattress 2023 Franchise Disclosure Document – Item 19.
Benefits for the Franchisee:
- Efficient Labor Model – Each factory store can be staffed by just 4 full-time employees and a retail store with just 2 full-time employees.
- Opportunity for Growth – Once you have a factory store established you can also add additional satellite or retail stores in your market. (Factory stores also act as retail stores.)
- Competitive Differentiators – Verlo actually wants you to set up shop closeby to your competitors. You’ll be able to offer a better product, better price and better customer experience compared to any other mattress store. Every customer is given personalization and warranties with their shopping experience.
- Supply Chain – Corporate has well-established relationships with vendors to ensure you’ll have the best products in a timely manner. Your customers won’t have to wait weeks for their mattress – you can theoretically deliver a mattress the same day it’s ordered. Everything is kept and made in your factory store.
- Strong Net Sales – the average net sales of the 21 stores disclosed in the item 19 was $1,859,163.
To see if this franchise is available in your territory
OR
Check the availability of ALL franchises in your area
Episode #26: How to Build a Million-Dollar Network
Tony is a multi-unit franchisee who has mastered the art of networking.
She’s been able to leverage her networking skills to successfully scale multiple franchise locations and create entrepreneurial opportunities throughout her career.
Networking has been a HUGE advantage for me personally in my own journey as an entrepreneur so I know this episode will be valuable.
Plus, we cover some strategies to effectively network even as in introvert.
Sit back, take some notes, and enjoy the show!
That’s a wrap for this week’s Franchise Empire newsletter.
Feel free to reply with any questions, or feedback. I appreciate and value your time and attention.
I’ll see you at the same time next week!
-Tariq and The Franchise Empire Team