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- 2023 Franchise 500 Rank
#132 Ranked #139 last year
- Initial investment
$157K - $261K
- Units as of 2022
380 9% over 3 years
Here’s what you need to know if you’re interested in opening a Rainbow Restoration franchise.
Are you passionate about bringing spaces back to life? Rainbow International Restoration is one of the leading restoration companies. It was founded in 1981 and began franchising later that same year. It offers home restoration, commercial restoration, and carpet cleaning services in more than 400 locations worldwide, including nearly 300 in the United States alone. They are a leading supplier of disaster recovery and specialist cleaning services.
As you run your franchise, you should seek to provide efficient and professional cleaning and restoration services to the community around you. The perfect candidate for a Rainbow International Restoration franchisee has a passion for helping others, business, and is interested in restoration.
Why You May Want to Start a Rainbow International Restoration Franchise
If you love the idea of offering an essential service in times of need to the community around you, then a Rainbow International Restoration franchise may be for you. Known for its efficient and excellent work, Rainbow International Restoration is thought of as one of the better restoration franchises in the U.S.
As a Rainbow International Restoration franchisee, you may join the ranks of community heroes, helping people in times of need. You will likely provide an essential service, be it reconstruction, fire and flood restoration, mold removal, cleanup services, or any other form of cleaning and repair. With that wide-reaching of a net, you may have a business at most times.
What Might Make a Rainbow International Restoration Franchise a Good Choice?
Opening a Rainbow International Restoration franchise may be a way to help people recover from loss by restoring value, stability, and peace of mind. Rainbow International Restoration has more than 30 years of experience in restoration and clean-up. They strive to have a good reputation in the business, along with an established model to make your franchise sustainable.
To be part of the Rainbow International Restoration team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. You should also be prepared for ongoing fees, which will include advertising, royalty, and potential renewal fees. The term of agreement for a Rainbow International Restoration franchise tends to last for 10 years with the option to renew if both parties wish to continue working together.
How to Open a Rainbow International Restoration Franchise
Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. Speak to existing franchisees and ask questions directed to the Rainbow international Restoration team. Suppose you meet all the requirements for the company. In that case, you may qualify to open a Rainbow International Restoration franchise, and you can get started with an initial investment.
As you make your decision regarding whether to open a Rainbow International Restoration franchise, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Rainbow International Restoration franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
Once completing your due diligence, you are ready to submit an inquiry form. After you've signed on the dotted line, you can start training and begin preparations to open your business. Rainbow International Restoration wants to see your franchise succeed and is ready to support you every step of the way. Get started restoring your customers' homes, as well as their peace of mind.
About Rainbow Restoration
- Parent Company
- Joshua Miller, Brand President
- Corporate Address
1010 N. University Parks Dr.
Waco, TX 76707
- Franchising Since
- 1981 (42 years)
- # of employees at HQ
- Where seeking
This company is offering new franchisees throughout the US.
This company is offering new franchisees in the following international regions: Europe (Eastern), Europe (Western), Canada
- # of Units
- 380 (as of 2022)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Rainbow Restoration 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
- $156,682 - $260,856
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
- 15% off minimum 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
- 10 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?
- Third Party Financing
- Rainbow Restoration has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll
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
- 40 hours
- Classroom Training
- 159.2 hours
- Ongoing Support
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresField OperationsProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
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 ownership opportunities like Rainbow Restoration? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where Rainbow Restoration landed on this year’s Franchise 500 Ranking versus previous years.
Curious to know where Rainbow Restoration ranked on other franchise lists? Find out below.
Are you eager to see what else is out there? Browse franchises that are similar to Rainbow Restoration.
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