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Promoted Opportunities
#436
Initial Investment
LOW: $79,005
HIGH: $89,432
Change in Units
+2.6% +9 UNITS (1 Year)
+11.1% +35 UNITS (3 Years)
Company Profile
Founded
1992
Franchising Since
1992 (25 Years)
Corporate Address
3839 Forest Hill Irene Rd. Memphis, TN 38125
CEO
Marty Wick
Ticker Symbol
About Furniture Medic
Joseph Lunsford wasn't looking to start a business when he moved into a new home and realized that several pieces of his furniture had been damaged in transit, but start one he did. He founded Furniture Medic in 1992 in response to his dissatisfaction with the long turnaround time that was common with most refurnishing shops.
In 1996 Furniture Medic was acquired by ServiceMaster. ServiceMaster's franchise family also includes franchisors Merry Maids, Terminix and AmeriSpec.
Financials
Financial Requirements
Initial Investment
$79,005 - $89,432
Net-worth Requirement
$33,900
Liquid Cash Requirement
$33,900
Ongoing Fees
Initial Franchise Fee
$31,500 - $31,500
Ongoing Royalty Fee
7%
Ad Royalty Fee
2%
Financing Options
Furniture Medic offers in-house financing to cover the following: franchise fee, startup costs, equipment, inventory
Veteran Incentives
15% off franchise fee
Units (Locations)
Where Seeking Franchisees:
Franchisor is seeking new franchise units worldwide.
Operations & Franchisor Support
Training at headquarters: 10 days
Additional Training: Home study/mentor program
Ongoing Support
Purchasing Co-ops
Newsletter
Meetings
Toll-Free Line
Internet
Security
Field Operations
Marketing Support
Co-op Advertising
Ad Slicks
National Media
Regional Media
Number of employees required to run: 1
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Disclaimer
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: October 4th, 2016
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