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Franchise 500 2023
2024 Franchise 500 Rank
#360 Ranked #339 last year
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Initial investment
$155K - $269K
Units as of 2023
170 Decrease 8% over 3 years

The Tailored Closet, (previously known as Tailored Living,) opened its doors in 2006 and began franchising the same year. The company offers home and business owners high-quality storage and organization solutions. The company designs spaces in closets, home offices, family rooms, pantries, basements, laundry rooms, and more. The team offers measuring, design, and installation services tailored to meet each client's specific needs.

The Tailored Closet has a wide breadth of offerings that has resulted in tremendous growth over the years, with more than 175 franchise units opened across the United States and Canada. The company has also received several awards, including the Best of Houzz badge for design. Out of the many expert companies on Houzz, only 3% reach this status. 

Potential franchisees have an aptitude for sales and a passion for providing clients with top-notch organizational services. 

Why You May Want to Start a The Tailored Closet Franchise

The Tailored Closet is a well-known business with proud franchisees. Franchisees help people in their community live a more organized life through innovative storage methods and other organizational solutions. As a franchisee, you'll be your own boss, with the opportunity to build a business. You can create your business to your preferred size either as a partnership, sole proprietorship, or family business with one or multiple territories. You are also given the opportunity to participate in absentee ownership.

Franchisees experience paid training at The Tailored Closet headquarters in Irvine, California and lifetime support in every area of their business. The Tailored Closet also arranges one year of business coaching by outside vendors, annual conventions, webinars, and helplines to offer support to new franchisees. 

What Might Make a The Tailored Closet Franchise a Good Choice?

The Tailored Closet has ranked in Entrepreneur's Franchise 500 multiple times in the past few years. This ranking is 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.

Franchisees should prepare for financial investment. Franchisees will need to pay a franchise fee and brand royalties. Franchisees will also need to hit the minimum set net worth and cash requirement for franchising with The Tailored Closet. 

As you make your decision concerning whether to open a franchise with The Tailored Closet, make sure you take time to explore the opportunity. Research the brand and your local area to see if a franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.

How Do You Open a The Tailored Closet Franchise?

The franchising process will take time to complete. Be prepared for interviews with upper management, at which point you will review the Franchise Disclosure Document. After a successful interview, you may be invited to a discovery day to explore the opportunity further. You will also have time to speak with other franchisees to get their side of the franchise experience with The Tailored Closet. 

Before you can open your The Tailored Closet franchise, you must attend a training at the home office in Irvine, California to learn how to operate your business. The Tailored Closet staff will be involved as you train and prepare to open your franchise. 

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Company Overview

About The Tailored Closet

Industry Home Improvement
Related Categories Organization/Storage Systems, Miscellaneous Home-Improvement Businesses
Founded 2006
Parent Company Home Franchise Concepts
Leadership Andy Skehan, CEO
Corporate Address 19000 MacArthur Blvd., #100
Irvine, CA 92612
Social Facebook, Twitter, LinkedIn, Instagram, YouTube, Pinterest

Business Overview

Franchising Since 2006 (18 years)
# of employees at HQ 300
Where seeking

This company is offering new franchises throughout the US.

This company is offering new franchises in the following international regions: Canada

# of Units 170 (as of 2023)

Information for Franchisees

Here's what you need to know if you're interested in opening a The Tailored Closet 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
$19,950
Initial Investment Information Circle
$155,220 - $268,675
Net Worth Requirement Information Circle
$350,000
Cash Requirement Information Circle
$111,220 - $224,675
Veteran Incentives Information Circle
15% off initial franchise and territory fees
Royalty Fee Information Circle
4%-7%
Ad Royalty Fee Information Circle
1%
Term of Agreement Information Circle
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.

In-House Financing The Tailored Closet offers in-house financing to cover the following: franchise fee
Third Party Financing The Tailored Closet 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.

Classroom Training 106.25 hours
Ongoing Support
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Online Support
Security & Safety Procedures
Field Operations
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Ad Templates
National Media
Regional Advertising
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
No
Can this franchise be run part time? Information Circle
No
# of employees required to run 2
Are exclusive territories available? Information Circle
Yes
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Franchise 500 Ranking History

Compare where The Tailored Closet landed on this year's Franchise 500 Ranking versus previous years.

Additional Rankings

Curious to know where The Tailored Closet ranked on other franchise lists? Find out below.

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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