Furniture Medic

#363

At a Glance

Products & Services: Furniture & wood restoration & repairs

Number of Locations: 354

Total Investment: $51.58K - 66.42K

Founded: 1992

Began Franchising: 1992

Private Owned

About Furniture Medic

Joseph Lunsford wasn't looking to start a business when he moved into a new home and realized that several pieces of his furniture had been damaged in transit, but start one he did. He founded Furniture Medic in 1992 in response to his dissatisfaction with the long turnaround time that was common with most refurnishing shops. In 1996 Furniture Medic was acquired by ServiceMaster and has since grown to more than 600 locations throughout the United States, Canada and Europe.

ServiceMaster's franchise family also includes franchisors Merry Maids, Terminix and AmeriSpec.

Franchise Units

Year	U.S.	Canadian	International	Company Owned
2011	221	51	82	0
2010	249	42	80	0
2009	259	51	81	0
2008	279	55	89	0

Where Seeking Franchisees: Franchisor is seeking new franchise units worldwide.

Startup Costs, Ongoing Fees and Financing

Total Investment: $51,580 - $66,416
Franchise Fee: $29,900
Ongoing Royalty Fee: 7%
Term of Franchise Agreement: 5 years, renewable

Financial Requirements

Net Worth: $60,000 - $80,000
Liquid Cash Available: $15,000 - $25,000

Operations

Franchise can be run from home. 40% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 1. Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators).