If you’re thinking about opening a home improvement business, we love that idea — especially when you do so with a More Space Place closet design franchise opportunity! Franchising is a great way to become your own boss, allowing you to be in business for yourself but not by yourself. But as you learn more about the world of franchising, you might become confused by some of its terminology and language. Here, we’ll look at a few common franchise terms you’ll come across as you move forward in your More Space Place franchise journey, what they mean, and why they’re important.
Franchisor
Put simply, a franchisor is a company or brand that’s offering an investment opportunity to potential franchisees. But in reality, a franchisor is much more than that — or should be, especially when considering a closet design franchise opportunity! The people behind the brand are really what determine the strength of a franchisor because those people will be the ones you’ll turn to for ongoing support. In addition to selling you the right to open stores and sell products or services using their brand name, they’ll also be the people who make sure you’re well trained and ready to do business. The training and support we offer is one of the best reasons to consider More Space Place when thinking about opening your home improvement franchise.
Franchise Disclosure Document
A Franchise Disclosure Document (FDD) is a very important standardized document required of all franchisors by the Federal Trade Commission. Serious potential investors in our offering always have at least two weeks to review our FDD, often with their attorneys. In it, they’ll find answers to many of the questions they may have about the More Space Place brand, including information about our history, our team leaders, our investment numbers, and what they can expect from us in the way of training and support. Investors also learn more about what’s expected of them regarding the monthly fees associated with our closet design franchise opportunity.
Franchise Fee
A franchise fee is the one-time lump sum you’ll pay to become part of a brand family. All franchisors charge a franchise fee, payable upon the signing of a franchise agreement, and when opening a More Space Place franchise, you can expect to pay $39,500. This fee covers the cost of your onboarding and pre-opening training and grants you access to our proprietary materials, logos, and resources, as well as gives you the right to do business under the More Space Place name.
Startup Costs
Opening any new business requires an investment of not only time and effort but of money as well. Startup costs, sometimes called an initial investment, refer to the total financial investment you’ll make in a closet design franchise opportunity with us. The great thing about a More Space Place investment is that it factors in just about everything you’ll need to get up and running, including our franchise fee, working capital, insurance, and so forth, and is typically represented as a range, showing low- and high-end amounts.
A closet design franchise opportunity with More Space Place is a terrific way to be in business for yourself but not by yourself. To find out more, get in touch today!
