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.
Want to keep up with our latest newsletters?
“The way to get started is to quit talking and begin doing”– Walt Disney
Today, in 5 minutes or less:
✔ Exciting resale in Florida!
✔ Interesting Franchise with Average sales of $7.4M*
✔ Franchisee who “failed” and then bought a different franchise
✔ $592k in sales on SUPER low cost franchise
*For Mature Franchisees open 12 months or longer as of 12/31/2023
Join Our Franchise Buyers Beta Course for
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 Caring Transitions. Caring Transitions is the nation’s largest provider of senior relocation and the resale of household goods. The company started franchising in 2006, and has 352 units throughout the U.S.
First Coast and Palm Coast, FL
-
Asking price of $700,000
-
3 territories included
-
4 vehicles included
-
Separate moving company that is a “sister” company is included in the sale price
-
Established team: 2 sales consultants, 7 transition specialists (FT and PT)
-
Owner is retiring
Franchise Empire’s Take:
- Caring Transitions is a full-service company helping families in times of need.Franchise owners find seniors looking to downsize into an assisted living facility or a smaller apartment. They go through the house to find which items the senior wants to take with them to the new place. They box them up and physically move them to the new location and then unpack them. Caring Transitions will set up the new living quarters to make it feel like a small piece of their own home. They then go back into the house and whatever is left and will perform an estate sale or online sale using our CTBids website.
- Financials are available upon signing an NDA, including past statements for both the Caring Transitions franchise business and the sister company moving business.
- According to the most recent FDD, the top quartile of franchise owners had an average gross sales of $669,658.
Curious to learn more about this particular franchise resale, or other resales available in your area?
CLIENT CASE STUDY
I recently connected with one of our clients who is about to sign his lease and get his franchise up and running in the next 3-6 months.
What’s crazy is he bought a food franchise 4 years ago on his own, paid the franchise fee, and then realized the franchisor was HORRIBLE and never even got open.
Lost out on his $45,000 franchise fee he paid.
In 2023 he said he wants to do it the right way and try again. So he reached out to us, joined our Zero to Profitable Franchise system, and he’s raving about the support he’s getting from the franchisor, and we are still supporting him and providing guidance as he goes to get his franchise open. He also recently joined our 7 Figure Franchisee Mastermind.
It goes to show that doing it by yourself can create some massive issues, AND if at first you don’t succeed, dust yourself off and try again.
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 MONTH
History:
-
Founded in 1982 in California
-
Started offering franchises in 1998
-
Parent company is Home Organizers Inc
Numbers:
-
Corporate Owned Territories: 6
-
Franchise Units: 76
-
Franchise Fee: $20,000 + territory fee of $18,000 or more depending on size
-
Royalty: 7.25%
-
National Marketing Fee: 2.25%
-
Total Investment Range: $154,000 – $511,000
-
Term: 5 years
**Numbers according to their FDD released on April 24, 2024.
Description:
Closets By Design is a leading provider of custom closet and home organization systems. With over 40 years of experience, the company offers a wide range of solutions to help homeowners maximize their storage space. From walk-in closets to pantry systems, Closets By Design has a solution for every room in the house. With a focus on quality craftsmanship and customer satisfaction, the company has become a trusted name in the home organization industry.
Financial Data:
Below tables taken from the Closets By Design 2024 Franchise Disclosure Document – Item 19, page 40.
II. 2023 Fiscal Year End Financial Information for Mature Franchised Territories
Table A below sets forth certain financial information based upon all Mature Franchised Territories as of the 2023 fiscal year. Table B below breaks the information set forth in Table A into four quartiles of performance (i.e., the highest 25% of all Mature Franchised Territories to the lowest 25% of all Mature Franchised Territories).
A. 2023 Fiscal Year End Financial Information for All Mature Franchised Territories
* As of December 31, 2023, there were 72 Mature Franchised Territories. Of these 72 Mature Franchised Territories, 20 (or 28%) met or exceeded the Average Annual Sales, with the highest Annual Sales earned being $35,251,373 and the lowest Annual Sales earned being $1,163,935.
As of December 31, 2023, there were 72 Mature Franchised Territories. Of these 72 Mature Franchised Territories, 36 (or 50%) met or exceeded the Average Sale, with the highest Average Sale being $7,541 and the lowest Sale being $4,201.
Benefits for the Franchisee:
- Strong Brand Reputation – Closets by Design has a strong brand reputation in the industry and has been serving customers for over 40 years in 35 states.
- Huge Revenues – some of the highest average gross revenues we see across the franchise industry with just one territory.
- Stable – During the years of 2008-2012 recession, Closets by Design was able to retain every single franchisee those 4 years. No one had to close their doors or terminate their agreement.
- Full Control – Your location will design, sell, manufacture and install all of your projects giving you control over each step of the process. No experience is necessary as the manufacturing and installation are both very simple and quick.
- Corporate Help with Advertising – Since they’ve been around for so long and entered many new markets, they know exactly how to advertise from day 1 and get you leads. With an average close ratio of about 50%, it’s just a matter of spending money on advertising to be successful.
To see if this franchise is available in your territory
OR
Check the availability of ALL franchises in your area
Episode #70: $592k in sales on SUPER low cost franchise
This marks the first episode (of many to come) in this new style.
Every week we send out a free Franchise Newsletter breaking down unique franchise opportunities, resale franchises, and other helpful insights you’ll need to buy a money-making franchise.
In this episode, me and Kevin hop on camera to go through this edition of the newsletter and talk about…
Low Cost & Low Expense Franchise shows $592k average sales Affordable resale with opportunity to hit the ground running. Guy who buys franchise for less than $100K all in. How to find franchises that best match your personality and behavioral style.
And more…
So sit back, relax, 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