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Franchise 500 2023
2023 Franchise 500 Rank
#193 Ranked #215 last year
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Initial investment
$98K - $112K
Units as of 2023
308 Increase 24.2% over 3 years

Fibrenew is a professional restoration service specializing in leather, vinyl, and plastic restoration. After getting its start in Alberta, Canada in 1985, Fibrenew began franchising in 1987. Since then, it has spread on a global level. Currently, there are more than 300 locations in 6 countries. In the U.S. alone, there are over 200 franchises.

Why You May Want to Start a Fibrenew Franchise

Fibrenew is a restoration franchise that has been around for more than three decades. Fibrenew has maintained a spot at the top of its respective service area throughout its history. Since its founding, throughout all the economy's rises and falls, the company has continued to grow in franchise units. Fibrenew is a service that is highly unlikely to be replaced or outsourced by technology and robots because it requires a certain level of craftsmanship.

When clients call up Fibrenew, a specialized employee drives to their location to restore and fix damaged products. Fibrenew takes care of various furniture and products, including residential furniture service, marine restoration, commercial furniture repair, aviation interior maintenance, and light upholstery repair.

The company prides itself on saving time and money by restoring its customers’ products instead of replacing them entirely. Also, their work prevents leather, plastic, and other materials from being thrown out as waste.

What Might Make a Fibrenew Franchise a Good Choice? 

There is a high demand for Fibrenew's service, and heads keep turning towards this franchise. They provide an alternative to completely renovating and replacing couches and other furniture, saving customers time and money. Since the business offers different streams in the restoration market, you can create growth in your franchise. 

Multiple times in the past several years, Fibrenew was ranked in Entrepreneur’s Franchise 500 based on an evaluation of more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.

Fibrenew is an essential business needed almost everywhere. One advantage of owning a Fibrenew franchise is that it's been an active company with established relationships. This will allow you to harness the power of its brand in your marketing.

How Do You Start a Fibrenew Franchise?

To be part of the Fibrenew team, you will need to be financially ready for an initial investment that will include a franchise fee and other startup costs. You should also be prepared for ongoing fees, such as the technical assistance fee, which is waived for the first six months of operation. The term of agreement for a franchise with Fibrenew is five years, with the option to renew for a small sum at the conclusion of the contract if both parties wish to continue working together. Franchisees will also need to meet the company's net worth and liquid capital requirements. 

If you're ready to get started, you can begin by filling out a franchise inquiry form. As you progress through the discovery process, you will go through a five step process and will be given a Franchise Disclosure Document to review and sign. Once approved, you'll undergo a training program in order to ensure that you are best set up for success. The Fibrenew team will providing training and support before sending you out on your own. You will be able to open your doors to your new Fibrenew business immediately after your two week technical training is complete, bringing new life to items your customers care about most. 

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Company Overview

About Fibrenew

Industry Maintenance
Related Categories Leather & Vinyl Repair, Miscellaneous Maintenance Businesses
Founded 1985
Leadership Jesse Johnstone, President
Corporate Address 101-220 3rd St. N.E.
Diamond Valley, AB T0L 0H0
Social Facebook, Twitter, LinkedIn, Instagram, YouTube

Business Overview

Franchising Since 1987 (36 years)
# of employees at HQ 18
Where seeking

This company is offering new franchisees throughout the US.

This company is offering new franchisees worldwide.

# of Units 308 (as of 2023)

Information for Franchisees

Here's what you need to know if you're interested in opening a Fibrenew 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 Information Circle
$47,000
Initial Investment Information Circle
$97,825 - $111,695
Net Worth Requirement Information Circle
$100,000
Cash Requirement Information Circle
$15,000
Veteran Incentives Information Circle
10% off franchise fee
Royalty Fee Information Circle
$795+/mo.
Term of Agreement Information Circle
5 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 Fibrenew has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

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 Varies
Classroom Training 70 hours
Ongoing Support
Newsletter
Meetings & Conventions
Toll-Free Line
Security & Safety Procedures
Field Operations
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Ad Templates
National Media
Social Media
SEO
Website Development
Email Marketing

Operations

Additional details about running this franchise.

Is absentee ownership allowed? No
Can this franchise be run from home/mobile unit? Information Circle
Yes
Can this franchise be run part time? Information Circle
No
# of employees required to run 1
Are exclusive territories available? Information Circle
Yes
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Franchise 500 Ranking History

Compare where Fibrenew landed on this year's Franchise 500 Ranking versus previous years.

Additional Rankings

Curious to know where Fibrenew ranked on other franchise lists? Find out below.

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Related Franchises

Are you eager to see what else is out there? Browse franchises that are similar to Fibrenew.

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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise or business opportunity by Entrepreneur Media. Our listings and rankings are solely research tools you can use to compare opportunities. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise or business opportunity. That should include reviewing the company's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees/licensees/dealers.
Updated: December 12th, 2022