Year began: 1977 Franchising since: 1980
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.
|
4239 N. Nevada, #115 Colorado Springs, CO 80907
Phone: (800)444-8827/(719)594-9196
Fax: (719)594-9282
| Franchisor is a privately-held company with 4 employee(s); 4 employee(s) in franchise department.
|
Franchise Growth
Year2008
2007
2006
2005
2004
U.S. Franchises122
120
95
86
86
Canadian Franchises0
0
0
0
0
Foreign Franchises25
27
22
20
27
Where Seeking Franchisees
Nationwide
Outside the U.S.:
Exclusive territories available.
Territory size: 200,000-250,000 population
Costs & Fees
Total investment: $75K
Franchise fee: $30K
Ongoing royalty fee: 5%
Term of agreement: 5 years, renewable
Renewal fee: 5%
| Type of Financing Available |
| In-House | Third Party |
| Franchise Fee | Yes | No |
| Startup Costs | No | No |
| Equipment | No | No |
| Inventory | No | No |
| Accounts Receivable | No | No |
| Payroll | No | No |
Qualifications
Net worth requirement: $150K
Cash liquidity requirement: $75K
Business Experience:- General business experience
- Marketing skills
Operations
- Franchise can be run from home
- 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)
Training & Support
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
Rankings in Entrepreneur magazine 2004-2008
Franchise 500® rank:#188 (2008); #297 (2007); #345 (2006); #332 (2005); #467 (2004);
Ranked #1 in category in:
2008;
Top home based franchises:#41 (2008); #83 (2007); #96 (2006); #91 (2005);
Low-Cost Franchises:#76 (2007); #91 (2006); #88 (2005); #130 (2004);
America's Top Global Franchises:#150 (2008);
Last Updated: 4/22/2008 12:00:00 AM
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