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Promoted Opportunities

#211

Initial Investment

LOW: $89,450
HIGH: $101,300

Change in Units

+6.8% +15 UNITS (1 Year)
+17.3% +35 UNITS (3 Years)

Company Profile

Founded

1985

Franchising Since

1987 (30 Years)

Corporate Address

Box 117, Unit 102, 450 1st Ave. N.E. Black Diamond, AB T0L 0H0

CEO

Michael Wilson

About Fibrenew

In 1985 Tom Gallagher founded Fibrenew to offer leather and vinyl repair to customers in Alberta, Canada. Gallagher's brother-in-law Michael Wilson purchased the first franchise in 1987 and then bought the company in 1994. The company continued to expand in Canada, and began opening franchises in New Zealand in 1996 and the U.S. in 1999. Fibrenew franchisees work from home, offering mobile repairs, restoration and re-dyeing of leather, vinyl, plastic, carpet and fabric in automobiles, boats, planes, medical facilities, homes and businesses.

Financials

Financial Requirements

Initial Investment

$89,450 - $101,300

Net-worth Requirement

$200,000

Liquid Cash Requirement

$50,000

Ongoing Fees

Initial Franchise Fee

$46,000

Ongoing Royalty Fee

$575+/mo.

Financing Options

Fibrenew has relationships with third-party sources which offer financing to cover the following: 
franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

Veteran Incentives


10% off franchise fee

Units (Locations)

Where Seeking Franchisees:
Franchisor is seeking new franchise units worldwide.

Operations & Franchisor Support

Training Onsite: 18 weeks

Training at headquarters: 2 weeks

Ongoing Support
Newsletter
Meetings
Toll-Free Line
Grand Opening
Internet
Security
Field Operations

Marketing Support
Ad Slicks

Number of employees required to run: 1

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The Franchise 500 is not intended to endorse, advertise, or recommend any particular franchise. It is solely a research tool you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing money in a franchise.

Updated: January 9th, 2017

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