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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“It always seems impossible until it’s done.” – Nelson Mandela
Today, in 5 minutes or less:
✔ Franchise with average sales over $1mil, with less than $250k start up costs
✔ Resale showing $190k in owners earnings in Maryland
✔ Couple saves themselves $1million in wrong franchise purchase
✔ Guy who owns 13 juice bar locations and how much they make
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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 Gotcha Covered, a leader in the home services industry providing window blinds, shutters, drapes, curtains, shades and motorized/voice activated options to residential and commercial customers. Gotcha Covered started franchising in 2009, and now has 155 franchise units throughout the country. Gotcha Covered’s parent company is Five Star Franchising.
North Baltimore, MD
- Started in 2019
- 2023 revenue of $734,167
- Asking price of $450,000
- SDE of $190,000
- Over 1,100 installs and 200+ five-star reviews since 2020
- 270 installs completed in 2023
- Huge territory including 10 zip codes in North Baltimore
- 199 Google Reviews with an average rating of 4.9!
Franchise Empire’s Take:
- Exceptional opportunity to step into a profitable, well-run home services franchise in a large market.
- According to the FDD, the average annual sales for Gotcha Covered franchisees was $590K in 2023. This location is performing above average with opportunity for growth by enhancing relationships in the market with interior designers, real estate agents, home builders, etc.
Curious to learn more about this particular franchise resale, or other resales available in your area?
CLIENT CASE STUDY
Nina was an IT project manager and Brent a financial advisor. They were looking for a franchise for Nina to run full-time. When they first engaged with us, they were far down the path with a high-investment coffee franchise with well over $1million in start up costs!
After going through our process, they decided to look at more service-based opportunities. They bought a cleaning and restoration franchise, and were able to secure a large territory in a popular Florida market. It’s a great fit for Nina with her project management background.
Nina already had a large job lined up coming home from training with the franchisor, and multiple other large projects. She’s off to an incredible start.
Here are 5 Low Cost Franchises that make
$1,000,000 (Backed by Data)
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FRANCHISE OF THE WEEK
History:
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Corporate location started in 1988
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Started franchising 1 year later in 1989
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Parent company is FS Brands
Numbers:
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Corporate Owned Territories: 0
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Franchise Units: 252
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Franchise Fee: $53,000
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Royalty: 5%
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National Marketing Fee: 3%
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Total Investment Range: $180,350 – $243,500
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Term: 10 years
**Numbers according to their FDD released on March 25, 2024.
Description:
FCI sells carpeting, hard and soft floor covering products to both residential and light commercial customers. The Floor Coverings International shop-at-home business model caters to today’s busy consumers who are looking for convenience and expertise – a combination not readily found in retail flooring. Design Associates work with your customers being able to select the right product for their lifestyle, home, décor, and needs right in the comfort of their living room. Project Coordinators ensure that the installation crew delivers and installs the product on time, on budget, and correctly – the first time. You’ll operate your business from a warehouse/office but does not need to be a place where customers go. You’ll meet your customers at their house or business.
Financial Data:
Below tables taken from the Floor Coverings International 2024 Franchise Disclosure Document – Item 19, page 40.
Benefits for the Franchisee:
- Great Reputation – FCI has the highest NET Promoter Score in the industry. They scored an 82%, which completely outshines the industry average of 38%.
- Technology – The FCI InspireNet™ system allows your Design Associates to preview materials, colors, and customized flooring designs with the customer, using digital images of the customer’s own rooms.
- Fast Start Up – 60 Days from Signing to Revenue along with no build out requirements.
- No Flooring Experience Needed – The ideal candidate has a background in business, marketing, or sales.
- Increased Home Value – Flooring is one of the top ways to add value to a home. According to survey findings, new wood flooring can help homeowners earn back, in increased home value, 106% of what they spent on renovations.
To see if this franchise is available in your territory
OR
Check the availability of ALL franchises in your area
Episode #73: He Owns 13 Juice Bar Locations (Here’s How Much He Makes)
13 corporate locations, that’s how many stores the founders of Movita Juice Bar own.
It’s rare that you see a franchise that owns 13 of its own stores, so when I met Jorge one of the co-founders of Movita Juice bar, I was really curious about how they are building a franchise system while owning 13 locations of there own.
So in this episode Jorge and I talked about how they’ve been so successful in this space with their corporate locations averaging $1.2M in sales per store.
We also talked about some of the mistakes he’s made along the way, and what to avoid when opening up this kind of franchise.
What’s clear to me is that Jorge and his business partner are really focused on doing things the right way in their franchise system, as opposed to just selling a bunch of franchises- so this one is definitely worth a listen to understand more about how they are doing what they are doing and supporting franchisees in being successful.
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