Home Improvement Franchise FAQs
At Cabinet IQ home remodeling franchise, our customers love the way we simplify the complicated job of kitchen and bathroom remodeling. We want to do the same for our franchise process and have implemented tools to help you navigate the complexities of becoming a home services franchisee. Opening a franchise is a big step, and you’re probably wondering how everything works. Here are some answers to the questions we hear most often.
No, you don’t. Our comprehensive Franchise Owner training program will teach you everything you need to know about owning and operating a successful kitchen and bath remodeling business.
Our initial financial investment ranges from $189,450 to $288,800, including the franchise fee of $59,500 and you must have a minimum net worth of $100,000. We also require liquid capital funds of $50,000.
Yes, we will charge a 6% royalty fee on gross sales.
We will require that you pay $10,000 for the expected promotional costs during your kitchen and bath remodeling business launch. You also pay ad fees amounting to 4% of your gross revenues or a minimum of $4,500 per month, plus 2% of gross revenues for the advertising fund contribution.
Typical ongoing costs include rents, salaries, franchise fees, inventory, insurance, utilities, storage, marketing, and advertising.
The home improvement industry is anticipated to reach $450 billion in the U.S. by 2027, according to Global Market Insights. Within the industry, kitchen and bathroom remodels continue to remain popular: Median spending on kitchen and bath home improvement projects are expected to reach $85 billion in 2022, an increase of $17 billion from 2021. Nearly $104 billion total is projected to be invested in bathroom remodeling projects in 2022. Now is the time to get involved.
Yes, Cabinet IQ offers financing to qualified home improvement franchise owner applicants.
Many have accomplished this by utilizing their 401k/IRA, business loans, SBA financing (typically the Express loan), or conventional options.
We recommend our financial lending partners at Guidant Financial:
Beegees Hebert
Senior Account Manager
Email: [email protected]
Yes! Qualifying veterans and current members of the U.S. military receive a 20% reduction in the initial franchise fee for your first kitchen and bath remodeling business.
The initial term lasts 10 years. We also provide three subsequent successor agreement options valid for three years each, which you can utilize after your initial contractual period.
Our network helps us gauge the feasibility of a home services franchise in any location. Talk to us, and we’ll provide you with details on the specific location you’re interested in pursuing.
We are here to help you get started on this rewarding kitchen and bathroom remodeling journey, and you can always reach us to set up a meeting where we can discuss the way forward.
Our franchise disclosure document (FDD) breaks down every aspect of the franchise program. Should you have additional questions, please refer to it. Better yet, feel free to call the home office, and a member of our franchise development team will be happy to speak with you
