Signing out of account, Standby...
- 2022 Franchise 500 Rank
#387 Ranked #346 last year
- Initial investment
$80K - $95K
- Units as of 2021
312 10% over 3 years
Here’s what you need to know if you’re interested in opening a Furniture Medic franchise.
Furniture Medic is a recognized franchise in furniture repair and restoration. Founded in 1992, Furniture Medic has expanded to over 300 locations all around the world, including over 200 in the U.S. and a few dozen in Canada, thanks to the continued demand for furniture restorations and its quality of services.
For decades, Furniture Medic has remained a major company in the furniture business by extending fixture and furniture life through quality, water-based, and chemical-free products that customers have endorsed. They also meet all the governing agencies' standards.
Other services under the Furniture Medic portfolio include precise on-site repairs, structural repair, stabilization, millwork, door and railing restoration, and fire or water damage repair. With Furniture Medic, you can rely on expert technicians committed to quality craftsmanship and attention to detail.
Why You May Want to Start a Furniture Medic Franchise
As a franchisee, partnering with Furniture Medic will allow you to serve with a unique, reliable, and trusted brand working with commercial and residential clients. Besides, Furniture Medic has long-standing relationships with transportation companies, insurance agencies, and manufacturers. These relationships will help you as a franchisee, enhance your business operations, explore new markets, and capture leads.
Furniture Medic has well-placed strategies to address the needs of franchisees. Some of these strategies include expert business and marketing support, a world-class training center with full-time instructors, a technical support hotline, and in-house financial support with the franchise fee, startup costs, equipment, and inventory.
Franchisees will also be supported and trained to ensure you have the business knowledge and technical skills to continue the same seamless customer experience this company is known for. This training involves many hours of online study and a multi-week intensive training at the Furniture Medic Training Center at company headquarters in Memphis, Tennessee. Franchisees also receive a multi-day mentorship program and a post-training support week within six months of completing the initial training.
What Might Make a Furniture Medic Franchise a Good Choice?
Furniture Medic’s furniture renovations and refinishing furniture cost have remained competitive over the years, making it a stable investment. If your net worth and available liquid capital match the brand’s requirements, you may qualify to open a Furniture Medic franchise, and you can get started with an initial investment that will include a franchise fee and other startup costs.
Furniture Medic does not offer direct financing, but its affiliate ServiceMaster Acceptance Company Limited Partnership (SMAC) offers a good portion off the initial franchise fee for seven years if the franchisee qualifies. The commencing franchise term is five years effective from the date of the agreement.
How to Start a Furniture Medic Franchise
The first step in opening a Furniture Medic franchise is to submit an inquiry form. Once the company receives your inquiry and approves of your interest, they may assign you a dedicated brand representative to discuss your business interests with the company.
Next, you will fill out the franchise application, and background check forms. You will then connect with the on-ground team supporting you in the establishment of your business. Once these steps are complete, you may obtain funding through SMAC or any other lender of your choice. Afterwards, you will return your signed franchise agreement, marking your beginning as an official Furniture Medic franchisee.
The final steps with Furniture Medic include completing your training at their training center in Memphis and participating in the Furniture Medic mentorship and post-training programs. Soon customers will be searching for a "Furniture Medic near me."
About Furniture Medic
- Franchising Since
- 1992 (30 years)
- # of employees at HQ
- Where seeking
This company is seeking new franchisees throughout the US.
This company is seeking new franchisees in the following international regions: Asia, Europe (Western)
- # of Units
- 312 (as of 2021)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Furniture Medic 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
Definition: The initial fee paid to a franchisor to join their system
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
- Initial Investment
- $79,995 - $94,700
Definition: The total amount necessary to begin operation of the franchise
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
- Net Worth Requirement
Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company
What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.
- Cash Requirement
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
- Veteran Incentives
- 20% off franchise fee
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
- Royalty Fee
Definition: A ongoing fee paid to the franchisor on a regular basis.
What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
- Ad Royalty Fee
Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts.
What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.
- Term of Agreement
- 5 years
Definition: The length of time your franchise agreement will last.
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
- Is franchise term renewable?
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- In-House Financing
- Furniture Medic offers in-house financing to cover the following: franchise fee, 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
- 97-102 hours
- Classroom Training
- 111 hours
- Additional Training
- Home study/mentor program
- Ongoing Support
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresField OperationsFranchisee Intranet Platform
- Marketing Support
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingMarketing Planning & SupportSocial MediaSEOWebsite Development
Additional details about running this franchise.
- Is absentee ownership allowed?
Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations.
- Can this franchise be run from home/mobile unit?
Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.
- Can this franchise be run part time?
Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.
- # of employees required to run
- Are exclusive territories available?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.
Interested in franchise ownership like Furniture Medic? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where Furniture Medic landed on this year’s Franchise 500 Ranking versus previous years.
Curious to know where Furniture Medic ranked on other franchise lists? Find out below.
Are you eager to see what else is out there? Browse more franchises that are similar to Furniture Medic.
Related Franchise Content
Catch up on the latest franchise news, trends, and more.
Most Franchises Fail to Scale — But The Ones That Do Succeed All Have These 3 Essential Qualities in Common.
The success rate of franchise expansion is low. Beat the odds by harnessing these three franchising habits that are overwhelmingly present in franchises that succeed.
Looking for information about how to open a Habit Burger Grill franchise? Here's what you need to know.
Looking for information about how to open a Huntington Learning Center franchise? Here's what you need to know.