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“I could not believe what I heard when I started calling the existing owners of Closet Factory. I just kept calling more to see if this was true.
15 in total- is the number I stopped at. I spoke to 15 franchise owners.
The crazy thing was, even the owners I talked to who were not doing as well, were doing better than most other franchises TOP performers.” ~Mike
Closet Factory checks all the boxes of a quality brand. The information below is coming directly from the reports of the current franchise owners. They are living the daily life of a franchise owner.
This is what they told us.
They said this franchise treats its franchise owners as professional independent business owners. The franchise is there for them at every turn to offer advice and support, BUT they are not dictators. They allow for professional freedom- if you as an owner feel strongly about taking your business in a slightly different direction. They give you the model, help you to execute it, and allow you to make the adjustments you need to run it the way you want. Freedom.
The franchise owners said the executives are top-notch. They are extremely professional and experienced. They commented the franchise executives take them on personal trips and spend actual time investing in the long-term relationship with the franchise owners. That’s not a normal level of connection between the franchise and the franchise owners. It’s above and beyond. A true partnership.
Hearing from the franchise owners was great, but how does Closet Factory look on paper? Looking at Closet Factory’s track record and performance, this is what we found.
- A retention rate of 93.7% of franchise owners
- (According to the 2020 FDD, measured over a 3 year period)
- An “A Graded Franchise” according to Franchise Grade
- (Franchise Grade’s team are tough graders. Many top brands are graded a “B or below”.)
- Excellent financial information about the revenue and financial performance of the existing owners is included in their Financial Performance Representations.
- Average franchise owner has been in business for 17 years
The cherry on top – the services they provide to customers are in HIGH demand. Especially now, the Home Services industry is growing. “In fact, the share of consumer interest in home and local services is up 24% between March 1 and August 31 (2020), relative to all categories on Yelp, compared to the same time last year.” More people are spending time in the home and redirecting their money to it. Closet Factory’s products are something customers LOVE to buy and get that “WOW” factor – so the customer interaction is enjoyable. When customers are happy, so are employees and so are owners – like you.
Closet Factory creates custom, beautiful, built-in home organization systems for every area of the home or office. They have products for every customer – from the more affordable side to custom wood high-end closets and cabinetry.
Their specialty lies in their operations systems. They know how to take a complicated manufacturing process, and make it simple, efficient, and easy for you and your employees to learn.
Basic Franchise Info
Average Investment: $300000 - $425000
Minimum Investment: $273500 - $466000
Min. Liquidity: 250000
Years in Business: 1983
Open Units: 67
In-House Financing: Yes
Lead Assist: Yes