Furniture Medic Franchise

Furniture Medic, established in 1992 and franchising since the same year, offers a unique opportunity to enter the home and commercial furniture repair and restoration industry. Headquartered in Atlanta, Georgia, this franchise boasts approximately 315 units, providing high-quality furniture repair and restoration services nationwide.

Key Services Offered

• Residential and Commercial Furniture Repair
• Furniture Restoration, Fabrication, and Refinishing
• Wood Repair, Restoration, and Refinishing
• Millwork and Cabinet Re-facing
• Re-upholstery Services
• Hardwood Floor Repair
• Marketed to Hotels, Homeowners, Moving Companies, Antique Dealers, Furniture Rental Companies, and Insurance Companies

Training Overview

Furniture Medic provides comprehensive training for franchisees, which includes:

• 50-hour pre-training program that can be completed online
• Two-week initial training program held at the franchisor's training center in Memphis, Tennessee or virtually
• Hands-on guided application and practice time in technical subjects
• Additional optional training and annual franchisee conventions

Territory and Operation Details

Franchisees are granted a designated territory based on various factors such as population, density, affluence, and market potential. The territory agreement is mutually agreed upon but does not include exclusive territorial rights. Franchisees must operate the business full-time unless approved otherwise in writing.

Financial Overview

Estimated Initial Investment

• Initial Franchise Fee: $33,000
• Training Related Expenses: $1,100 - $4,200
• Opening Package: $15,000 - $15,500
• Tablet or Smart Phone: $400 - $1,000
• Software: $150
• Internet Connection: $45 - $150
• Insurance: $2,500 - $4,500
• Service Vehicle: $2,000 - $4,000
• Van Detail Package: $300 - $700
• Initial Marketing: $500 - $1,500
• Additional Funds (3 months): $25,000 - $30,000

Total Estimated Investment: $79,995 - $94,700

Other Fees

• Royalty Fee: The larger of $250 per month or 7% of gross sales
• National Advertising Fund Contribution: The greater of $150 per month or 2% of gross sales
• Renewal Fee: $2,000 per franchise agreement
• Transfer Fee: $7,000 (discounted for transfers to owner's adult children or spouses)

Term and Renewal

The initial franchise term is five years, with the potential for renewal for an additional five-year term if certain conditions are met.

Financial Assistance

While Furniture Medic does not offer direct or indirect financing, they can refer franchisees to preferred lenders. They may also modify the Franchise Agreement to meet SBA loan requirements.

Key Takeaways

• Established brand with a long history of successful franchising
• Comprehensive training and support programs
• Diverse range of furniture repair and restoration services
• Flexible territory arrangements based on market potential
• Estimated initial investment between $79,995 and $94,700