Lapels

At a Glance

Products & Services: Dry cleaning and laundry services

Number of Locations: 54

Total Investment: $69.8K - $497.1K

Founded: 2000

Began Franchising: 2001

Franchise Units

Year U.S. Canadian International Company Owned
2014 54 0 0 0
2013 49 0 0 0
2012 41 0 0 0
2011 39 0 0 0
2010 42 0 0 0
Where Seeking Franchisees: Franchisor is seeking new franchise units worldwide.
Direct Capital

Startup Costs, Ongoing Fees and Financing

Total Investment: $69,772 - $497,111
Franchise Fee: $15,000 - $25,000
Ongoing Royalty Fee: 5%
Term of Franchise Agreement: 10 years, renewable
Veteran Incentives: 20% off franchise fee
Financial Requirements
Net Worth: $100,000
Liquid Cash Available: $40,000 - $80,000
Operations
25% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 4. Absentee ownership of franchise is 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: 10 days. At franchisee's location: 2 days.
Ongoing Support: Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Field operations/evaluations, Purchasing cooperatives
Marketing Support: Co-op advertising, Ad slicks, Regional advertising,

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