Start-Up Costs and Fees |
||
| The Closet Factory | Room Evolutions | |
| Investment | 208500 - 356000 | 190000 - 320000 |
| Franchise Fee | 0 | |
| Royalty Fee | 5.75% | 4% |
| Advertising Fee | 1% | |
| Year Founded | 1983 | 1953 |
| Year Franchised | 1986 | 2008 |
| Term Of Agreement | ||
| Term Of Agreement | ||
| Renewal Fee | ||
Business Experience Requirements |
||
| The Closet Factory | Room Evolutions | |
| Experience | General business experience Marketing skills People skills | Senior or mid- manager business experience, remodeling, or construction (home building or commercial) experience. |
Financing Options |
||
| The Closet Factory | Room Evolutions | |
| Franchise Fees | No | No |
| Start-up Costs | No | No |
| Equipment | No | No |
| Inventory | No | No |
| Receivables | No | No |
| Payroll | No | No |
Training & Support |
||
| The Closet Factory | Room Evolutions | |
| Training | Initial one week orientation and ongoing | |
| Support | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives | |
| Marketing | Co-op advertising, Ad slicks, National media, Regional advertising | Marketing materials are created and available |
| Operations | International franchisees required to buy multiple units/master licenses; 30% of all franchisees own more than one unit Number of employees needed to run franchised unit: 6 Absentee ownership of franchise is allowed. (90% of current franchisees are owner/operators) | |
Expansion Plans |
||
| The Closet Factory | Room Evolutions | |
| US Expansion | Illinois, Indiana, Maryland, Michigan, Minnesota, New York, Ohio, Pennsylvania, Virginia, Wisconsin | |
| Canada Expansion | ||
| International Expansion |
Start-Up Costs and Fees Mobile |
|
| Investment | |
| The Closet Factory | |
| Room Evolutions | |
| Franchise Fee | |
| The Closet Factory | |
| Room Evolutions | |
| Royalty Fee | |
| The Closet Factory | 5.75% |
| Room Evolutions | 4% |
| Advertising Fee | |
| The Closet Factory | |
| Room Evolutions | 1% |
| Year Founded | |
| The Closet Factory | 1983 |
| Room Evolutions | 1953 |
| Year Franchised | |
| The Closet Factory | 1986 |
| Room Evolutions | 2008 |
| Term Of Agreement | |
| The Closet Factory | 5 years |
| Room Evolutions | 5 years +5+5+5 |
| Renewal Fee | |
| The Closet Factory | $7K |
| Room Evolutions | $5,000 |
Business Experience Requirements |
|
| Experience | |
| The Closet Factory | General business experience Marketing skills People skills |
| Room Evolutions | Senior or mid- manager business experience, remodeling, or construction (home building or commercial) experience. |
Financing Options |
|
| Franchise Fees | |
| The Closet Factory | No |
| Room Evolutions | No |
| Start-up Costs | |
| The Closet Factory | |
| Room Evolutions | |
| Equipment | |
| The Closet Factory} | |
| Room Evolutions | |
| Inventory | |
| The Closet Factory | |
| Room Evolutions | |
| Receivables | |
| The Closet Factory | |
| Room Evolutions | |
| Payroll | |
| The Closet Factory | |
| Room Evolutions | |
Training & Support |
|
| Training | |
| The Closet Factory | |
| Room Evolutions | Initial one week orientation and ongoing |
| Support | |
| The Closet Factory | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives |
| Room Evolutions | |
| Marketing | |
| The Closet Factory | Co-op advertising, Ad slicks, National media, Regional advertising |
| Room Evolutions | Marketing materials are created and available |
| Operations | |
| The Closet Factory | International franchisees required to buy multiple units/master licenses; 30% of all franchisees own more than one unit Number of employees needed to run franchised unit: 6 Absentee ownership of franchise is allowed. (90% of current franchisees are owner/operators) |
| Room Evolutions | |
Expansion Plans |
|
| US Expansion | |
| The Closet Factory | |
| Room Evolutions | Illinois, Indiana, Maryland, Michigan, Minnesota, New York, Ohio, Pennsylvania, Virginia, Wisconsin |
| Canada Expansion | |
| The Closet Factory | |
| Room Evolutions | |
| International Expansion | |
| The Closet Factory | |
| Room Evolutions | |