Furniture Medic
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As the world’s largest on-site wood and furniture repair and restoration companies, Furniture Medic owes its success to its commitment to providing customers with unsurpassed, quality service. Utilizing advanced technology, Furniture Medic specializes in enhancement, refinishing and restoration for antiques, specialty items, millwork, paneling, doors and banisters, cabinetry and mantels, hardwood floors and upholstery for both residential and commercial customers. Since 1992, it has grown to a network of more than 250 franchises throughout North America and Europe. The company has been named as the #1 furniture repair and restoration franchise by the Entrepreneur magazine for 10 years running.
Furniture Medic—along with ServiceMaster Clean, Amerispec, Merry Maids, Terminix, American Home Shield and Trugreen—is part of the ServiceMaster family, providing a wide array of home maintenance, commercial cleaning and restoration services.
| |
Operating Units |
12/31/2008 |
12/31/2009 |
12/31/2010 |
|---|
| | Franchised |
264 |
258 |
234 |
| | % Change | -- |
-2.3% |
-9.3% |
| | Company-Owned | 0 | 0 | 0 |
| | % Change | -- |
-- |
-- |
| | Total |
264 |
258 |
234 |
| | % Change | -- |
-2.3% |
-9.3% |
| | Franchised as % of Total |
100.0% |
100.0% |
100.0% |
Investment Required
The fee for a Furniture Medic franchise is $29,900. Furniture Medic may offer discounts to existing franchisees, ServiceMaster affiliates and employees, women, minorities and to those who have served in the military.
Furniture Medic 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. Furniture Medic’s affiliate, SMAC, offers financing for the initial franchise fee and opening product equipment package.
| |
Item | Established Low Range | Established High Range |
| |
Initial Franchise Fee |
$29,900 |
$29,900 |
| |
Expenses While Training | $1,065 | $3,125 |
| | Opening Package |
$13,000 |
$13,000 |
| | Insurance Liability/Vehicle | $2,500 | $4,500 |
| | Internet Connection | $45 | $150 |
| | Fax Machine | $200 | $200 |
| | Miscellaneous Opening | $200 | $1,500 |
| | Service Vehicle | $2,000 | $25,000 |
| | Van Detail Package | $260 | $644 |
| |
Advertising Fund (3 Months) | $150 | $150 |
| |
Additional Funds (3 Months) | $2,000 | $6,000 |
| | Initial Marketing | $100 | $3,000 |
| |
Total Initial Investment |
$51,420 |
$87,169 |
Ongoing Expenses
Furniture Medic franchisees pay royalty fees equal to the greater of $250 per month or 7% gross sales, a national advertising fund fee equal to the greater of $50 per month or 1% of gross sales, and a monthly software fee equal to $30 after the first year.
What You Get—Training and Support
The initial training consists of a Pre-Academy program of roughly 40 hours, a two-week, hands-on training session at the FM training center in Memphis, TN and a one-week Post-Academy training which takes place 90-120 days after graduation from the Academy. The program covers topics on business plans, marketing, record keeping, technical skills and more.
After graduation from the Academy, franchisees may opt to participate in a mentoring program that pairs experienced franchisees with new owners in the same general service area. The purpose of the mentoring program is to press new skill sets into use while developing finesse in customer acquisition.
Franchisees also benefit from around-the-clock telephone support and comprehensive marketing strategies that target brand awareness.
Territory
Furniture Medic does not grant exclusive territories. A protected area containing at least 100,000 people will be granted.
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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