Closet & Storage Concepts/More Space Place

Closet & Storage Concepts/More Space Place

Residential/commercial closet and storage systems; Murphy beds
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2022 Franchise 500 Rank
N/R Not ranked last year
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Initial investment
$102K - $500K
Units as of 2022
39 2% over 3 years

Here’s what you need to know if you’re interested in opening a Closet & Storage Concepts/More Space Place franchise.

Closet & Storage Concepts/More Space Place is a home storage solutions company. They serve customers by designing, building, and installing custom storage and organizing systems in both homes and businesses. Bob Lewis founded the company in 1987. Its headquarters are in West Berlin, New Jersey. 

Since launching its first franchise in 2000, the brand has enjoyed success, opening over 35 units in the United States.

Why You May Want to Start a Closet & Storage Concepts Franchise

Closet & Storage Concepts takes a customer-first approach to their work. They use qualified designers to create closet or storage systems that best serve their customer's space and budget.

Customers are expected to receive a home visit and no-obligation, free design consultation. During this visit, a designer will measure their closets and analyze their wardrobe. They will then show the customer photographs to help them settle on the best possible product. A lifetime warranty typically covers all of the work.

Closet & Storage Concepts has a unique business model that has proven its effectiveness over the decades. The brand also has a training program that extends far beyond your business launch.

What Might Make a Closet & Storage Concepts Franchise a Good Choice? 

Over thirty years of industrial intelligence and great franchisee support may make opening a Closet & Storage Concepts franchise an ideal business venture. 

As a franchisee with Closet & Storage Concepts, the company will likely help you identify an appropriate showroom site. They may also provide marketing training and support from the corporate office team. Closets & Storage Concepts headquarters is located in West Berlin, New Jersey. A marketing analysis report may help you appeal to the right audience. This report will use tailor-made advertising and promotional items.

Additionally, the company might train your in-field technical team. Your team will learn the company's product standards, operations, and business administration policies. Franchisees may have access to the national toll-free call routing system, company website, and customized signage and promotional items.

To be part of the Closet & Storage Concepts team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.

This company has established relationships with third-party sources that offer financing to cover startup costs and equipment. You just need to meet the requirements. The initial franchise term agreement is set at ten years.

How To Open a Closet & Storage Concepts Franchise

The first step in owning your Closet & Storage Concepts franchise is to complete the company's registration form. Some of the details required on this form include your personal information, the city or state in which you are located, and financial details.

Next, a company representative may contact you in a 'get to know you' phase. At this stage, the franchise development team will be available to answer your questions and provide all the information you need to make a decision. If you are satisfied, you will complete the franchise application forms. You'll later meet the team at the company's headquarters in West Berlin, New Jersey.

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Company Overview

About Closet & Storage Concepts/More Space Place

Industry
Home Improvement
Founded
1987
Leadership
Bob Lewis, President/CEO

Franchising Overview

Franchising Since
2000 (22 years)
# of employees at HQ
80
Where seeking

This company is seeking new franchisees throughout the US.

This company is seeking new franchisees in the following international regions: Canada

# of Units
39 (as of 2022)

Franchisor Information

Social
Facebook, Twitter
Corporate Address
436 Commerce Ln., #D
West Berlin, NJ 08091

Information for Franchisees

Here’s what you need to know if you’re interested in opening a Closet & Storage Concepts/More Space Place franchise.

Financial Requirements & Ongoing Fees

Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee
$39,500 - $44,500
Initial Investment
$101,900 - $499,900
Net Worth Requirement
$100,000
Cash Requirement
$50,000
Veteran Incentives
25% off franchise fee
Royalty Fee
5%
Ad Royalty Fee
$300/mo.
Term of Agreement
10 years
Is franchise term renewable?
Yes
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Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

Third Party Financing
Closet & Storage Concepts/More Space Place has relationships with third-party sources which offer financing to cover the following: startup costs, equipment, inventory

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training
80 hours
Classroom Training
80 hours
Ongoing Support
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Co-op Advertising
Ad Templates
National Media
Regional Advertising
Marketing Planning & Support
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed?
No
Can this franchise be run from home/mobile unit?
No
Can this franchise be run part time?
No
# of employees required to run
10-12
Are exclusive territories available?
Yes
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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise by Entrepreneur Media. Our franchise listings and rankings are solely research tools you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise. That should include reviewing the franchisor's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees.
Updated: February 8th, 2021