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Furniture Medic

2014 Franchise 500
#401
At a Glance

Products & Services: Furniture and wood restoration and repairs

Number of Locations: 317

Total Investment: $54.1K - $70.4K

Founded: 1992

Began Franchising: 1992

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

Franchise Units

Year U.S. Canadian International Company Owned
2014 203 45 69 0
2013 202 45 69 0
2012 211 48 69 0
2011 221 51 82 0
2010 249 42 80 0
Where Seeking Franchisees: Franchisor is seeking new franchise units worldwide.
Direct Capital

Startup Costs, Ongoing Fees and Financing

Total Investment: $54,130 - $70,373
Franchise Fee: $29,900
Ongoing Royalty Fee: 7%
Term of Franchise Agreement: 5 years, renewable
Veteran Incentives: 15% off franchise fee
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).
Direct Capital
Financing Type In-House Third Party
Franchise Fee
Startup Costs
Equipment
Inventory
Accounts Receivable
Payroll

How This Franchise Supports Franchisees

Training: Available at headquarters: 2 weeks. Home study/mentor program : 2+ weeks.
Ongoing Support: Newsletter, Meetings, Toll-free phone line, Internet, Security/safety procedures, Field operations/evaluations
Marketing Support: Ad slicks, National media,
Other marketing support: Website template

Franchise Ranking History

Franchise 500®: #401 (2014), #318 (2013), #363 (2012), #274 (2011), #261 (2010),
Low-Cost: #57 (2011), #62 (2010),
Top Home-Based: #88 (2013), #85 (2011), #73 (2010),
America's Top Global: #193 (2010),

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