Furniture Medic

Furniture Medic

Furniture and wood restoration, repair, and refinishing
#360

Initial Investment

LOW: $79,000
HIGH: $89,000

Change in Units

+6.4% +22 UNITS (1 Year)
+7.6% +26 UNITS (3 Years)

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Promoted Opportunities

Company Profile

Founded

1992

Franchising Since

1992 (24 Years)

Corporate Address

3839 Forest Hill Irene Rd. Memphis, TN 38125

CEO

Marty Wick

Ticker Symbol

SERV

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

$79,000 - $89,000

Net-worth Requirement

$33,900

Liquid Cash Requirement

$33,900

Ongoing Fees

Initial Franchise Fee

$29,900

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

Franchise 500® Rank History

Highest Rank: 188

Lowest Rank: 401

Units (Locations)

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

Operations & Franchisor Support

Training at headquarters: 2 weeks

Additional Training: Home study/mentor program

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

Marketing Support
Ad Slicks
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: September 7th, 2016

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