Foot Solutions
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Foot Solutions combines cutting edge technology with foot and gait biomechanics to fit every customer's unique foot with customized, high-quality footwear. Foot Solutions’ footwear and foot care products aim to improve body alignment, movement, balance and posture, as well as reduce, prevent and eliminate pain and trauma in the load-bearing joints in your body.
At each store, Foot Solutions’ certified pedorthics experts give every customer a 30-minute foot assessment, which includes a computerized foot scan and an individualized consultation to determine the proper shoes for the customer’s needs. Although Foot Solutions' target customers are over the age of 40, there is a full line of quality shoes, arch supports and foot care accessories for all ages.
This innovative footwear franchise extends its philosophy beyond the store to contribute to the community by supporting programs related to diabetes, fitness, retirement and children’s obesity.
| |
Operating Units |
12/31/2008 |
12/31/2009 |
12/31/2010 |
|---|
| | Franchised |
241 |
223 |
193 |
| | % Change | -- |
-7.5% |
-13.5% |
| | Company-Owned |
2 |
1 | 1 |
| | % Change | -- |
-50.0% |
0% |
| | Total |
243 |
224 |
194 |
| | % Change | -- |
-7.8% |
-13.5% |
| | Franchised as % of Total |
99.2% |
99.6% |
99.6% |
Investment Required
The fee for a Foot Solutions franchise is $32,500. There is also an option for a mobile unit, with a fee of $29,500.
Foot Solutions 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. Please note, the figures below are for a regular Foot Solutions storefront center; a mobile unit is available with a Total Initial Investment of roughly $107,800.
| |
Item | Established Low Range | Established High Range |
| |
Initial Franchise Fee |
$32,500 | $32,500 |
| | Equipment |
$13,500 |
$13,500 |
| |
Opening Inventory |
$68,000 |
$68,000 |
| |
Real Estate (Leasehold Improvements) |
$15,000 |
$15,000 |
| |
Signage |
$3,500 |
$3,500 |
| |
Grand Opening Advertising |
$2,000 |
$2,000 |
| |
Fixtures |
$15,000 |
$15,000 |
| |
Expenses While Training |
$2,800 |
$2,800 |
| |
Liability Insurance |
$2,000 |
$2,000 |
| |
POS System |
$8,000 |
$8,000 |
| |
Miscellaneous Opening Costs |
$4,000 |
$4,000 |
| |
Additional Funds (3 Months) |
$40,000 |
$40,000 |
| |
Total Initial Investment |
$206,300 |
$206,300 |
Ongoing Expenses
Foot Solutions franchisees pay a monthly royalty fee equal to 5% of total net sales. They also pay a monthly brand fund contribution fee of $500 for the first year, and 2% of total net sales afterwards. Local advertising expenditures equal to $2,000 per month for the first year and 4% of sales after the first year.
What You Get–Training and Support
Training and support include initial training at Foot Solutions’ corporate headquarters in Marietta, Georgia, additional field training several times throughout the year, six days of field assistance with store opening and post-opening support.
The initial training provides 120 hours of instruction on marketing and advertising, customer service, quality control, inventory control, accounting, foot scanning, biomechanics, basic pedorthics and anatomy/pathology. Training is provided on the internet, via DVDs, classroom instruction, lab work and in a full mock up store. The Foot Solutions training facility is certified by the Board for Certification of Pedorthics.
Foot Solutions will also assist in preparing a loan portfolio, designing and opening the store, installing and testing equipment, and advertising, as well as post-opening support on administration, human resources, accounting and marketing.
Territory
Foot Solutions grants protected territories with a population containing approximately 100,000 people, with variation depending on the demographics of the area and other variables.
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 Hottest New Franchises publication.
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