At a Glance
Products & Services: Furniture and wood restoration and repairs
Number of Locations: 316
Total Investment: $54.1K - $70.4K
Began Franchising: 1992
About Furniture MedicJoseph 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.
Startup Costs, Ongoing Fees and Financing
Franchise Fee: $29,900
Ongoing Royalty Fee: 7%
Term of Franchise Agreement: 5 years, renewable
Net Worth: $60,000 - $80,000
Liquid Cash Available: $15,000 - $25,000
OperationsFranchise 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).
|Financing Type||In-House||Third Party|