Fibrenew
At a Glance
Products & Services: Leather, plastic & vinyl restoration
Number of Locations:
Total Investment: $30K - 50K
Founded: 1985
Began Franchising: 1987
Private Owned
About Fibrenew
In 1985 Tom Gallagher founded Fibrenew Industries Ltd., a company that offered customers leather and vinyl repair to its customers in Alberta, Canada. Gallagher's brother-in-law Michael Wilson purchased the first franchise in 1987 and helped the company open its next 20 locations.Wilson bought the company in 1994, opening up 43 more locations in Canada and 11 in New Zealand. In 1998 Fibrenew International Ltd. was formed.
Fibrenew franchisees work from home, doing repairs, restoration and re-dyeing of leather, vinyl and plastic in automobiles, boats, airplanes, homes and businesses.
Startup Costs, Ongoing Fees and Financing
Total Investment: $30,000 - $50,000
Franchise Fee: $30,000 - $50,000
Ongoing Royalty Fee: $300/mo.
Term of Franchise Agreement: 5 years, renewable
Franchise Fee: $30,000 - $50,000
Ongoing Royalty Fee: $300/mo.
Term of Franchise Agreement: 5 years, renewable
Financial Requirements
Net Worth: $25,000
Liquid Cash Available: $15,000
Operations
Franchise can be run from home. 1% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 1. Absentee ownership of franchise is allowed. (100% of current franchisees are owner/operators).How This Franchise Supports Franchisees
Training: Available at headquarters: 2 weeks.
Ongoing Support: Newsletter, Meetings, Toll-free phone line, Internet, Field operations/evaluations,
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