Franchise FAQ
At Cabinet IQ, 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 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 training program will teach you everything you need to know about owning and operating a successful kitchen and bath remodeling business.
Our initial investment ranges from $143,350 to $223,300, including the franchise, fee of $45,000and you must have a minimum of $225,000 in available funds. We also recommend having at least 9 months of personal reserves.
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 business launch. You also pay ad fees amounting to 3% of your gross revenues or a minimum of $4,500 per month, plus 2% of gross revenues for the brand development fund.
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 improvement projects are expected to reach $85 billion in 2022, an increase of$17 billion from 2021. Nearly $104billiontotalis projected to be invested in bathroom remodeling projects in 2022. Now is the time to get involved.
Yes, Cabinet IQ offers financing to qualified applicants.
Many have accomplished this by utilizing their 401k/IRA, business loans, SBA financing (typically the Express loan), or conventional options.
We recommend our partners at Tenet Financial Group: www.tenetfinancialgroup.com
Yes! Qualifying veterans and current members of the U.S. military receive a 20% reduction in the initial franchise fee for your first 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 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
