Lapels
#394 Franchise 500| Dry cleaning and laundry services

About
Founded

2000

Franchising Since

2001 (19 Years)

Corporate Address

962 Washington St.
Hanover, MA 02339

Leadership

Kevin Dubois, CEO

Parent Company

Next Step Franchising Inc.

Financial Requirements
Initial Investment

$86,502 - $710,122

Net-worth Requirement

$100,000 - $500,000

Liquid Cash Requirement

$80,000 - $250,000

Ongoing Fees
Initial Franchise Fee

$20,000 - $30,000

Ongoing Royalty Fee

5%

Ad Royalty Fee

2%

Financing Options

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

Veteran Incentives

20% off franchise fee

Support Options
Ongoing Support

Purchasing Co-ops

Newsletter

Meetings/Conventions

Toll-Free Line

Grand Opening

Online Support

Security/Safety Procedures

Field Operations

Site Selection

Proprietary Software

Franchisee Intranet Platform

Marketing Support

Co-op Advertising

Ad Templates

Regional Advertising

Social media

SEO

Website development

Email marketing

Loyalty program/app

On-The-Job Training:

123 hours

Classroom Training:

10 hours

Absentee Ownership Allowed
Number of Employees Required to Run:

4

Lapels is ranked #394 in the Franchise 500!
Cost
Initial Investment: Low - $86,502 High - $710,122
Units
+3.1%+3 UNITS (1 Year) +30.3%+23 UNITS (3 Years)

Units (Locations)

Where Seeking Franchisees:

Franchisor is seeking new franchise units worldwide.

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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, 2019