
Miracle Method Surface Refinishing
Kitchen and bathroom surface refinishing- 2023 Franchise 500 Rank
-
#143 Ranked #147 last year
- Initial investment
-
$96K - $196K
- Units as of 2022
-
167 8.4% over 3 years
Miracle Method Surface Refinishing specializes in refinishing ceramic tiles, bathtubs, sinks, countertops, bathrooms, and similar surfaces. The company was created in 1977 when founder Bob Gray discovered that many people wanted to revamp their houses, but lacked the capital needed for a complete reconstruction.
Currently, the Miracle Method Surface Refinishing brand has over 150 locations. However, they plan to expand into new territories as demand for their unique services remains. As a franchisee, you will be tasked with providing refinishing services to residential houses and commercial buildings such as hospitals and schools.
Why You May Want to Start a Miracle Method Surface Refinishing Franchise
Miracle Method Surface Refinishing offers franchisees unmatched support, be it helping you select a viable site location, marketing, business management, or introducing you to architects/interior designers/vendors. Also, if you need additional assistance, a Miracle Method Surface Refinishing representative is just a phone call away.
What Might Make a Miracle Method Surface Refinishing Franchise a Good Choice?
To be part of the Miracle Method Surface Refinishing 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. Also, veterans may qualify for a discount on their franchise fee. Miracle Method Surface Refinishing also offers in-house financing to help cover the franchise fee, as well as partnering with third-party financial lenders that may offer financial help concerning the startup cost, equipment, inventory, and payroll.
How To Start a Miracle Method Surface Refinishing Franchise
As you decide if opening a Miracle Method Surface Refinishing franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Miracle Method Surface Refinishing franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. You may want to speak to existing franchisees and ask the Miracle Method Surface Refinishing franchising team questions as part of your due diligence. Additionally, you may want to speak to a financial planner and an attorney specializing in franchise law.
With the aid of a Miracle Method Surface Refinishing franchise representative, you may be able to draft a business plan and prepare for any face-to-face meetings with brand executives.
Company Overview
About Miracle Method Surface Refinishing
- Industry
- Home Improvement
- Related Categories
- Kitchen & Bath Remodeling, Miscellaneous Home-Improvement Businesses
- Founded
- 1977
- Parent Company
- Miracle Method of the United States
- Leadership
- Chuck Pistor, President
- Corporate Address
-
4310 Arrowswest Dr.
Colorado Springs, CO 80907
Business Overview
- Franchising Since
- 1980 (2023-1980 years)
- # of employees at HQ
- 22
- Where seeking
-
This company is offering new franchisees worldwide.
This company is offering new franchisees in the following US states: Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, District of Columbia, Florida, Georgia, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West Virginia, Wyoming
- # of Units
- 167 (as of 2022)
Information for Franchisees
Here's what you need to know if you're interested in opening a Miracle Method Surface Refinishing 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 - $45,000 - $58,000
-
Initial Investment
Information Circle - $96,400 - $195,800
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Net Worth Requirement
Information Circle - $150,000
-
Cash Requirement
Information Circle - $85,000 - $90,000
-
Veteran Incentives
Information Circle - 10% off franchise fee
-
Royalty Fee
Information Circle - 5.5%
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Ad Royalty Fee
Information Circle - 1.5%
-
Term of Agreement
Information Circle - 5 years
- Is franchise term renewable?
- Yes
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- In-House Financing
- Miracle Method Surface Refinishing offers in-house financing to cover the following: franchise fee
- Third Party Financing
- Miracle Method Surface Refinishing has relationships with third-party sources which offer financing to cover the following: 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
- 80 hours
- Classroom Training
- 40 hours
- Ongoing Support
-
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
-
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail Marketing
Operations
Additional details about running this franchise.
- Is absentee ownership allowed?
- No
-
Can this franchise be run from home/mobile unit?
Information Circle - No
-
Can this franchise be run part time?
Information Circle - No
- # of employees required to run
- 3
-
Are exclusive territories available?
Information Circle - Yes
Interested in ownership opportunities like Miracle Method Surface Refinishing? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where Miracle Method Surface Refinishing landed on this year's Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where Miracle Method Surface Refinishing ranked on other franchise lists? Find out below.
Ranked #1 in Kitchen & Bath Remodeling in 2022
These are the companies that not only ranked in this year’s highly competitive Franchise 500, but ranked #1 in their respective industry categories.
Ranked #143 in 2023
Entrepreneur’s 44th annual Franchise 500® ranking shines a light on the unique challenges and changes that have shaped the franchise industry over the last year—and how franchisors have adapted and evolved to meet them.
Ranked #13 in 2023
Buying a franchise on a budget? No problem. Here are the top franchises that can be started for less than $100,000. For more low-cost opportunities, see our lists of franchises that can be started for less than $50,000 and less than $150,000.
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