Fibrenew
Click
here to link to Fibrenew’s detailed company profile
Fibrenew specializes in the repair, restoration, and renewal of leather, plastics, vinyl, fabric and upholstery servicing five major markets: automotive, aviation, commercial, marine and residential. There are many reasons why repairing cracked vinyl and plastic or damaged leather in a car, boat, airplane, home or office is good for the environment. Fibrenew technicians have the equipment and expertise to make cracks, stains, scratches, holes, rips and fades in leather, plastic, vinyl, fabric and upholstery look new again. Restoration is an environmentally-friendly and cost-effective alternative to replacement.
Since 1987, Fibrenew has been the industry leader with the development of exceptional leather and vinyl repair products and restoration techniques. The combined knowledge and experience of our 200+ franchisees around the world is unparalleled. Since 1987 we have expanded our global presence to include franchise units in the United States, Canada, Mexico, New Zealand, Australia, and Ecuador.
| |
Operating Units |
12/31/2008 |
12/31/2009 |
12/31/2010 |
|---|
| | Franchised |
54 |
69 |
97 |
| | % Change | -- |
27.8% |
40.6% |
| | Company-Owned |
0 |
0 |
0 |
| | % Change | -- |
-- |
-- |
| | Total |
54 |
69 |
97 |
| | % Change | -- |
27.8% |
40.6% |
| | Franchised as % of Total |
100% |
100% |
100% |
Investment Required
The initial franchise fee for a Fibrenew franchise is $65,000.
Fibrenew provides the following range of investments required to open your initial franchise. The range assumes that all items are paid for in cash. To the extent that you choose to finance any of these expense items, your front-end investment could be substantially reduced.
| |
Item | Established Low Range | Established High Range |
| |
Initial Franchise Fee |
$40,000 |
$80,000 |
| |
Start-up Fee |
$25,000 |
$25,000 |
| |
Insurance – 1 year |
$700 |
$2,000 |
| |
Organizational Expenses |
$200 |
$2,000 |
| |
Training Expenses |
$2,400 |
$2,800 |
| |
Shipping Cost of Start-up Kit |
$450 |
$625 |
| |
Office Equipment |
$0 |
$1,000 |
| |
Work Vehicle – 3 months |
$175 |
$1,509 |
| |
Vehicle Signs |
$750 |
$1,500 |
| |
Internet Access (3 months) |
$150 |
$300 |
| |
Business Licenses/Permits |
$50 |
$200 |
| |
Office or Storage Area |
Unable to predict |
Unable to predict |
| |
Additional Funds |
$600 |
$1,000 |
| |
Total Investment |
$70,475 |
$117,934 |
Ongoing Expenses
Fibrenew franchisees pay a monthly technical assistance fee of $550, a minimum of $3,000 per year on proprietary products, a fee for training additional people, and other fees.
Franchisee Satisfaction
A critical component of the due diligence process is that you, as a prospective franchisee, have a strong sense of existing franchisee satisfaction. Click here to download a summary of a recent independent survey of Color Glo's existing franchisees conducted by the Franchise Research Institute. Please note that, in order to ensure that the comments were candid (both good and bad), franchisee names were intentionally withheld from the report provided to the franchisor.
How do you rate Fibrenew in terms of: |
Rating* |
|
|
Overall quality of Franchisor |
100% |
|
|
Grade of the initial opening support by the Franchisor |
99% |
|
|
Rating of the quality of products and/or services received from Franchisor |
100% |
General rating of opportunity provided by franchise system |
100% |
|
|
* Independent Audit of Existing Franchisees Who Rated Fibrenew as Excellent, Very Good, or Good |
What You Get—Training and Support
When you are awarded a Fibrenew franchise, you receive an exclusive protected territory; use of trade name and trademark; access to proprietary products and methods and manuals; a comprehensive training program; complete inventory and equipment; business cards, invoices, statements, envelopes and brochures; ongoing technical support via phone and internet; access to our technical library, continuous education; and support via seminars, workshops, and conferences.
Fibrenew’s ongoing support comes in the form of newsletters, meetings, toll-free phone lines, internet, field operations/evaluations, and more.
Territory
Fibrenew does grant exclusive territories, but no specific location is designated for the premises of the franchised business.
Note: The tables and information regarding the number of operating units, investment required, on-going expenses, training and territory grants were taken from the company’s 2011 FDD. The 2011 write-ups will be incorporated into the 2012 Edition of Bond’s Top 100 Franchises publication.
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