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Restoration 1 Franchise ProfileHome Based Franchises > Home Repair Services |
To open a Restoration 1 franchise, you'll need to consider an initial investment that ranges from $69,650 to $226,125. This includes a franchise fee of $59,900. It's essential to have cash on hand within this range to cover startup costs, which may include equipment, supplies, and initial marketing efforts. Additionally, you'll need to meet a net worth requirement of $500,000 to $1,000,000 to qualify for franchise ownership.
Restoration 1 franchisees are subject to a royalty fee of 7% on their gross sales, which is typical for many franchise systems. Additionally, a marketing fee of 2% is required to support brand-wide advertising initiatives. These ongoing fees are important to factor into your financial planning, as they will impact your overall profitability and cash flow once your franchise is operational.
The average annual revenue for a Restoration 1 franchise unit is reported at approximately $760,344, with a median revenue of $740,384. This highlights the potential profitability within the franchise model. However, revenue can vary significantly, with the lowest reported annual revenue at $102,255 and the highest reaching $9,142,006. Understanding these figures can help you assess potential returns on your investment.
The breakeven time for a Restoration 1 franchise is estimated at 18 months, with an investment payback period of around 16 months. This means that, on average, franchisees can expect to recover their initial investment within a relatively short timeframe. It's crucial to have a solid business plan and operational strategy in place to achieve these timelines and maximize your return on investment.
Restoration 1 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.
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Restoration 1 Franchise Unit Growth Summary
A breakdown of corporate, franchised, and total units, with yearly net changes.
Total Units
Franchised Units
Corporate Units
Units | 2020 | 2021 | 2022 |
---|---|---|---|
Total Units | 219 | 252 | 290 |
Net Change YoY | 33 | 38 | |
Franchised Units | 219 | 252 | 290 |
Net Change YoY | 33 | 38 | |
Corporate Units | 0 | 0 | 0 |
Net Change YoY | 0 | 0 |
The Restoration 1 franchise offers a range of initial investment options, with costs ranging from $69,650 to $226,125. This includes a franchise fee of $59,900, making it accessible for aspiring entrepreneurs looking to enter the restoration industry. The varied investment levels allow for flexibility based on location and operational scale.
Franchisees are required to pay a royalty fee of 7% on gross sales along with a 2% marketing fee. These fees contribute to the overall brand support and marketing efforts, ensuring franchisees benefit from a strong national presence while also promoting their local businesses.
Restoration 1 units generate impressive average annual revenues of approximately $760,344, with a median of $740,384. The revenue range is significant, with some units reporting as low as $102,255 and others achieving as high as $9,142,006. This indicates strong potential for profitability within the franchise model.
Franchisees can expect to reach breakeven within 18 months of operation, with an investment payback period of around 16 months. This relatively quick return on investment is attractive for new franchisees, providing confidence in the business's financial viability.
The Restoration 1 franchise has shown consistent growth, increasing from 219 franchised units in 2020 to 290 in 2022. This upward trend reflects the brand's strong market demand and the effective support provided to franchisees, positioning the company for continued expansion in the restoration sector.
Aspiring franchisees must have a net worth of $500,000 to $1,000,000, ensuring that they possess the financial stability necessary to support their business. This requirement helps maintain a strong network of financially capable franchisees, contributing to the overall health and success of the Restoration 1 brand.
Frequently Asked Questions
The initial investment for a Restoration 1 franchise ranges from $69,650 to $226,125, which includes the franchise fee of $59,900 and other startup costs.