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Footprints Floors Franchise ProfileHome Based Franchises > Home Repair Services |
Initial Investment Overview for Footprints Floors Franchise
The Footprints Floors franchise requires an initial investment ranging from $79,955 to $225,480. This includes a franchise fee of $68,000. Potential franchisees should also budget for additional costs, as the total cash required falls between $79,955 and $114,480. With a net worth requirement of $100,000 to $1,000,000, it’s essential for aspiring owners to ensure they meet these financial criteria before moving forward.
Revenue Potential and Financial Performance
Footprints Floors franchises demonstrate promising financial performance, with an average annual revenue of $529,362 per unit. The revenue figures vary significantly, with the lowest annual revenue reported at $122,693 and the highest at $1,934,228. This wide range highlights the potential for profitability, especially for franchisees who effectively manage their operations and marketing strategies.
Ongoing Fees and Financial Obligations
Franchisees of Footprints Floors are subject to ongoing fees that include a royalty fee of 6% of gross sales and a marketing fee of 2%. These fees are essential for maintaining brand standards and supporting marketing efforts. Franchisees should factor these costs into their financial planning to ensure sustainable operations and growth.
Growth and Expansion Trends
The Footprints Floors franchise has shown steady growth in its number of franchised units, increasing from 41 in 2021 to 77 in 2023. This upward trend indicates a strong demand for their services and a solid franchise model. With a breakeven time of approximately 15 months and an investment payback period of 16 months, franchisees can anticipate a relatively quick return on their investment, making it an attractive opportunity for aspiring entrepreneurs.
Footprints Floors Franchise Financial Requirements
Below, you’ll find an overview of the initial investment needed to launch the business, along with the ongoing fees required by the franchisor to maintain operations over time.
The minimum total assets (minus liabilities) you must possess.
Net Worth Required:
The estimated period to recoup your total investment.
Investment Payback:
The initial fee paid to join the franchise system.
Franchise Fee:
Ongoing percentage of revenue paid to the franchisor.
Royalty Fee:
Regular contribution toward the franchise’s advertising fund.
Marketing Fee:
The estimated timeframe to recover your initial costs.
Breakeven Time:
The total amount required to launch the franchise.
Initial Investment:
The minimum liquid capital you must have on hand.
Cash Required:
The typical yearly revenue generated per franchise location.
Average Revenue:
The middle value of yearly revenue among franchise locations.
Median Revenue:
The largest reported annual revenue among franchisees.
Highest Revenue:
The smallest reported annual revenue among franchisees.
Lowest Revenue:
A broad sector defining similar types of franchise businesses.
Industry:
A more specific division within the broader industry.
Category:
The key individuals guiding the franchise’s strategy and growth.
Leadership:
The official business address of the franchisor’s headquarters.
Corporate Address:
Available financing options to help start the franchise.
Funding Year:
The main organization that owns the franchise brand.
Parent Company:
Footprints Floors Franchise Unit Growth Summary
A breakdown of corporate, franchised, and total units, with yearly net changes.
Total Units
Franchised Units
Corporate Units
| Units | 2021 | 2022 | 2023 |
|---|---|---|---|
| Total Units | 42 | 77 | 78 |
| Net Change YoY | 35 | 1 | |
| Franchised Units | 41 | 76 | 77 |
| Net Change YoY | 35 | 1 | |
| Corporate Units | 1 | 1 | 1 |
| Net Change YoY | 0 | 0 |
Company Background
Footprints Floors is a rapidly growing franchise specializing in flooring installation and repair services. Founded with the mission to provide high-quality flooring solutions, the brand has established itself as a trusted name in the industry. With a focus on customer satisfaction and a commitment to excellence, Footprints Floors has expanded its reach significantly, operating in multiple states across the U.S. and continuously striving to enhance its service offerings.
Franchise Opportunity
Investing in a Footprints Floors franchise presents a unique opportunity for aspiring entrepreneurs looking to enter the home improvement sector. With a low initial investment ranging from $79,955 to $225,480, franchisees can tap into a proven business model backed by comprehensive training and support. The franchise's strong brand recognition and growing market demand for flooring services make it an attractive option for those seeking financial independence and business growth.
Corporate Structure
Footprints Floors operates under a corporate structure that supports its franchisees through robust training programs and operational guidance. The company maintains a strong focus on franchisee success, providing ongoing support in areas such as marketing, technology, and customer service. This structure fosters a collaborative environment where franchisees can thrive while benefiting from the brand's collective expertise and resources.
Royalties
Franchisees of Footprints Floors are required to pay a royalty fee of 6% of gross sales, along with a marketing fee of 2%. These fees contribute to the brand's national marketing initiatives and ongoing support, ensuring that franchisees have the tools they need to drive sales and grow their businesses. The royalty structure is designed to be competitive while providing franchisees with valuable resources to maximize profitability.
Company Mission
The mission of Footprints Floors is to deliver exceptional flooring solutions while creating positive experiences for both customers and franchisees. The brand is dedicated to maintaining high standards of quality and service, ensuring that every project reflects the values of integrity, craftsmanship, and customer care. Footprints Floors aims to empower franchisees to achieve their business goals while enhancing the homes and lives of their clients.
Financial Performance
Footprints Floors franchises demonstrate strong financial potential, with average annual revenue per unit reported at $529,362. The brand showcases a healthy median revenue of $462,935, with some units achieving revenues as high as $1,934,228. The breakeven period is approximately 15 months, and franchisees can expect a payback on their investment within 16 months, making this franchise an appealing option for those looking for a lucrative business opportunity in the flooring industry.
Frequently Asked Questions
The initial investment for a Footprints Floors franchise ranges from $79,955 to $225,480, which includes the franchise fee and other startup costs.