CLOSETS BY DESIGN Franchise Startup Cost, Profit & Opportunities
Closets by Design has the reputation of being the leader in the closet remodelling, organizing and storage industry. The company is involved in in-home consultation without cost, provision of custom tailored design of the highest quality. And not only these, Closets by Design is committed to complete customer satisfaction through the provision of great customer services.
In the course of this article, we will be discussing how much is a Closets by Design franchise.
FRANCHISE INFORMATION ABOUT THE COMPANY
Closets by Design was established in the year 1982 and the company began franchising in the year 1998. The services they render ranges from the installation of custom closets, entertainment centers, garage organizers and home office systems with an experience spanning over 30 years.
The company has about 40 locations across the United States and Canada and they offer franchise opportunities in large territories exclusively. Closets by Design was ranked by Entrepreneur Magazine as one of the top 500 franchisees and also considered to be a leader in the business of home organization.
IS CLOSETS BY DESIGN A FRANCHISE?
With over 40 locations, owned by franchisees spread across North America, Closets by Design can be considered to be a franchise. They have been selling franchise opportunities since the year 1998.
ARE THERE FRANCHISE OPPORTUNITIES OPENED AT CLOSETS BY DESIGN?
Closets by Design is currently seeking for business entrepreneurs that are passionate about the service of closet designing and remodelling. There are Closets by Designfranchise opportunities available in various cities across the country.
CLOSETS BY DESIGN FRANCHISE OFFER
Closets by Design offers franchisees the opportunities to operate a retail installation and sales business involved in the selling of custom closets, garage materials and other organizers located within a certain territory.
HOW MUCH CAN I MAKE AS A CLOSETS BY DESIGN FRANCHISEE?
The amount of money you can make from any franchise will depend on a number of factors, which could be: the area that you live in, cost of labor in your local environment, cost of lease for commercial properties and so many other factors. However, buying into a Closets by Design franchise will offer you great opportunities to earn from a business that has multiple streams of income.
HOW MUCH DOES A CLOSETS BY DESIGN FRANCHISE COST?
A Closets by Design franchise cost will be the collation of all the investments required to establish a franchise unit from inception to when the business starts running. The total initial investment needed for a Closets by Design franchise unit is between $130,000 to $260,000. New franchisees with the company will also be expected to have a net-worth requirement of about $500,000 and a liquid cash requirement of about $300,000.
CLOSETS BY DESIGN FRANCHISE FEE
The Closets by Design franchise fee is the payment that a franchisee is expected to make to the company to get the license to operate under the company’s brands and identities. The initial franchise fee is $20,000. An additional royalty fee of 6.75% of the monthly gross revenue of the franchise unit is also payable to the company. Franchisees are also expected to make an ad royalty fee of 2.5%
DOES CLOSETS BY DESIGN FRANCHISE OFFER FINANCIAL ASSISTANCE?
Closets by Design franchise does not offer any form of funding to their franchisees. The only exception is when a franchisee is granted the right to a territory that has about 300,000 households and meets up with the CBDF’s credit standards. The franchisee can then get funds from CBDF up to the tune of $400,000.
TRAINING AND SUPPORT
The successful completion of the training by the franchisee organised by the company is a condition that has to be met before the franchise location can be opened for business. Closets by Design organizes an intensive classroom training of about 64 hours and also about 56 hours on-site training for the franchisee.
Trainings will be held at the company’s corporate office located in Cypress, California.
TERMS OF AGREEMENT
The period at which a franchisee can hold the license to operate under the company’s brand is 5 years. Once this expires, Closets by Design franchise will seek for a renewal. And if the franchisee wishes to continue business with the company and has been able to meet with the terms and conditions for renewal, another term of 5 years will be granted by the company.
HOW TO OPEN A CLOSETS BY DESIGN FRANCHISE
Once you have acquainted yourself with all the information in this article on how to open a Closets by Design franchise, the next step to take is to forward your application to the website of the company.
Before forwarding your application, you need to ensure that you have been able to meet with the financial requirements set by the company to establish a franchise unit.
The company will review your application and feedback will be given after some few days. If you are considered for a franchise opportunity, the franchise manager will contact you and conduct some further evaluation to confirm your eligibility to establish a Closets by Design franchise unit.
Once the confirmation has been done, the franchise manager will work alongside his team members to assist you to set up your franchise unit.