DREAMMAKER BATH & KITCHEN Franchise Fee, Revenue, And Profit Margin
Year in year out, millions of Americans spend billions of dollars to remodel their homes as this became a necessity due to new innovations in the home building industry.
A recent study by a group of people at Harvard University reported that the remodeling industry is worth about $300 billion as at the year 2016.
Buying into a franchise that deals in remodeling might prove so lucrative due to the huge demand, but how much is a DreamMaker Bath & Kitchen franchise?
FRANCHISE INFORMATION ABOUT THE COMPANY
The company was established in the year 1971 and it all started as a quest to get a system that will install hard surface coating on bathtubs and sinks. The parent company as at the time of establishment was The Dwyer Group, which was later changed to the Worldwide Refinishing Systems Incorporated.
Over the years, the company focused more on remodelling bathrooms and kitchens and in the year 1999, it had a final name change to DreamMaker. In the year 2003, the company’s president Doug Dwyer purchased the company from his family and expanded the company’s services beyond refinishing and resurfacing to then become a full service remodelling outfit.
IS DREAMMAKER BATH & KITCHEN A FRANCHISE?
The company is a franchise and they have been selling franchise opportunities since the year 1972, giving them 45 years of franchising experience. Over the years the company has reviewed their franchise model and it seems to have been all perfected by now. So buying into a DreamMaker Bath & Kitchen franchise is quite lucrative and considered a very wise business decision.
WHAT MAKES DREAMMAKER STAND OUT?
DreamMaker is an active member of the National Association of Remodeling Industry and the company has taken the leadership role within the remodelling industry. It is interesting to know that franchisees with the company are among the top-performing members of the industry and are actively involved in GuildQuality ratings.
DreamMaker has improved and continued the legacy by making available unique and well detailed systems to assist business owners start and grow a successful remodelling franchise. Most of the company’s franchises did not have any previous experience in the remodelling business, but involvement with the company exposed them to all that they needed to know and now, they can be considered experts in the industry.
Even franchisees with previous experience in the remodelling business found new was and methods to achieve success with DreamMaker Bath & Kitchen, not only in business but also in their personal lives.
WHO QUALIFIES FOR A DREAMMAKER FRANCHISE
At the moment there are various franchise opportunities opened to prospects all across the country and the company is looking for people that:
- Posses the drive and the zeal to excel and achieve excellence and people that also value professionalism in whatever business they find themselves
- Have the passion to help people improve the outlook of their homes.
- Are smart and would love to learn and also willing to know about new proven systems that work
- Are willing to be trained to achieve greater success in life
- Have a heart for service
- Possess moral support from their homes.
- Have leadership, selling and management skills
- Possess the mentality to work as members of a team
- The desire to operate a business that is set to make a difference in the lives of the people and also the community that they live in.
HOW MUCH DOES A DREAMMAKER BATH & KITCHEN FRANCHISE COST?
The DreamMaker Bath & Kitchen franchise cost is estimated to be between $24,000 to $98,000. Franchisees are advised to have this as reserve to serve them during the 1st 12 months of operating their business. The company provides financing, so a franchisee might not need to have all this amount of money up front.
Franchisees are expected to have a net worth of about $200,000 to $400,000 and also liquid cash to the tune of about $80,000 and $100,000.
DREAMMAKER BATH & KITCHEN FRANCHISE FEE
The DreamMaker Bath & Kitchen franchise fee is considered to be the payment that the company receives to grant the operating license to the new franchisee. The initial franchise fee is renewable after an agreed period of time and it is non-refundable and it is between $37,000 and $44,000.
And additional on-going royalty fee of about 3.6% of the monthly gross revenue of the franchise unit is also payable to the company and also an ad royalty fee of about 1-2%.
DOES DREAMMAKER BATH & KITCHEN OFFER FINANCING?
The company offers part financing of the initial start up cost to their franchisees. However prospects that seek extra funding can be connected to one of their 3rd party partners who is ready to fund the new franchise unit. Funding can be gotten to cover for the following: startup costs, inventory, equipment, payroll etc.
Veterans that are honourable discharged from service can also get $5,000 off their franchise fee payment.
HOW TO OPEN A DreamMaker Bath & Kitchen FRANCHISE
Information on how to open a DreamMaker Bath & Kitchen franchise has been discussed in this article. To get more details on the company’s franchise, a prospective franchisee will have to submit an application to the company’s website. The application will be reviewed and the company will give a feedback after some few days.
If the prospect is considered for a franchise opportunity, the company will assign a franchise manager who will then be saddled with the responsibility of assisting the new franchisee with the process of setting up the new franchise unit.