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Norwalk - The Furniture Idea
Custom order living room specialty stores, offering consumers 1,000 fabrics and leathers available in 500 styles, with delivery in just 35 days. Low inventory investment.
Franchisor Background
Year Established: 1902
Franchising Since: 1987
IFA Member
Operating Units:
Franchised Units: 62 93.9%
Company-Owned Units: 4 6.1%
______ _____
Total Operating Units: 66 100%
Geographic Distribution:
U.S.: 69 89.6% In 30 States
Canada: 8 10.4% In 3 Canadian Provinces
International: 0 0% In 0 Foreign Countries
______ _____
Total: 77 100%
North America:
States/Provinces with the largest number of operating units:
Density Units
1. Florida 13 2. California 5 3. Texas 4
Registered in Following Registration States: California, Florida, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, Wisconsin, District Of Columbia, Alberta
Financial Requirements
Investment:
Minimum Net Worth: $350K
Cash Investment: $100-125K
Total Investment: $450-495K
Average Total Investment: $473K
Fees:
Initial Franchise Fee: $35K
Average Franchise Fee: $35K
On-Going Royalty: 0%
Average Royalty: 0%
Advertising Fee: 0%
Average Number of Employees: 10 Full-time, 1 Part-time
Space Needs (in square footage): 4,500
Preferred Sites: Free-standing Building, Strip Center
Other Sites:
Encourage Conversions? Not Applicable
Earnings Claims Provided? No
Listed in the SBA Registry? No
Support and Training
International Franchise Association: Yes
Canadian Franchise Association: No
Franchisee Association/Member: Yes, Member
Size of Corporate Staff: 11
Site Selection Assistance? Yes
Lease Negotiation Assistance? Yes
Financial Assistance? Yes, Direct
Marketing Support:
Co-Op Advertising: No
National Advertising: No
Regional Advertising: No
Local Advertising: No
Marketing Materials: None Specified
Additional Services: None Specified
Other Marketing Support: None Specified
On-Going Support:
Central Data Processing: Not Applicable
Central Purchasing: Included in Fees
Field Operation Evaluation: Included in Fees
Field Training: At Additional Cost
Initial Store Opening: Included in Fees
Inventory Control: Not Applicable
Franchisee Newsletter: Included in Fees
Regional or National Meetings: At Additional Cost
800 Telephone Hotline: Included in Fees
Training:
1. Cleveland 3 Weeks 2. Atlanta, GA 1 Week 3. Another Store 2 Weeks
Franchisee Qualifications
Ranked from 1 (unimportant) to 5 (important):
Financial Net Worth: 4
General Business Experience: 4
Specific Industry Experience: 2
Formal Education: 2
Psychological Profile: 4
Personal Interview(s): 5
Minority Representation
Units Owned by Minorities:
African-American: N/A
Asian-American: N/A
Hispanic: N/A
Native American: N/A
Other: N/A
Specific Minority: Although we strongly support the objectives of the NMFI, we do not yet have any specific programs in place at this time.
Terms of Contract
Term of Initial Contract: 20 Year(s)
Term of Renewal Period: 5 Year(s)
Passive Ownership: Not Allowed
Area Development Agreements? Yes, for 1 Year(s)
Sub-Franchising Contracts? No
Franchisees Allowed to Expand Within Territory? Yes
Expansion Plans
Projected New Units Over Next 12 months: 8
U.S.: Yes, All United States
Canada: Yes, Most Provinces
Overseas: No