Miracle Method Surface Refinishing

#223

At a Glance

Products & Services: Kitchen & bathroom refinishing

Number of Locations: 124

Total Investment: $85K - 125K

Founded: 1977

Began Franchising: 1980

About Miracle Method Surface Refinishing

Miracle Method Bath and Kitchen Refinishing offers bathroom refacing and refinishing services to homeowners, hotel operators and apartment managers. Founded in 1979 by Bob Gray, the company has franchises throughout the United States and internationally, reconditioning and renovating bathtubs, ceramic tile walls, countertops, cabinets, sinks and showers.

The company was acquired by Miracle Method U.S. Corp., which also owns franchise company Surface Doctor.

Franchise Units

Year	U.S.	Canadian	International	Company Owned
2012	123	1	0	0
2011	119	0	12	0
2010	116	0	14	0
2009	115	0	17	0

Where Seeking Franchisees: Franchisor is seeking new franchise units in the U.S.,Australia/New Zealand, Canada, Central America, Eastern Europe, Mexico, South America, Western Europe.

Startup Costs, Ongoing Fees and Financing

Total Investment: $85,000 - $125,000
Franchise Fee: $35,000
Ongoing Royalty Fee: 5.5%
Term of Franchise Agreement: 5 years, renewable

Financial Requirements

Net Worth: $150,000
Liquid Cash Available: $85,000 - $123,000

Operations

5% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 1 - 6. Absentee ownership of franchise is allowed. (100% of current franchisees are owner/operators).

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.

Ongoing Support: Newsletter, Meetings, Toll-free phone line, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives

Marketing Support: Co-op advertising, Ad slicks, National media, Regional advertising,