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ProSpection
Benefits of PROSPECTION include large territories, lower franchise fees, interest-free financing, training and more. You also have access to our team of marketing, technology and business development experts. Compare us to other inspection franchises and then contact us for a cost/benefit analysis. PROSPECTION is a subsidiary of Merrymeeting Inc. (MMI) an investment firm specializing in the acquisition and development of franchise systems. Through its multiple franchises, MMI operates 800+ units.
Franchisor Background
Year Established: 2003Franchising Since: 2003IFA Member
Operating Units: Franchised Units: 15 100% Company-Owned Units: 0 0% ______ _____ Total Operating Units: 15 100% Geographic Distribution: U.S.: 15 100% In 5 States Canada: 0 0% In 0 Canadian Provinces International: 0 0% In 0 Foreign Countries ______ _____ Total: 15 100% North America: States/Provinces with the largest number of operating units: Density Units 1. Utah 4 2. Texas 2
Registered in Following Registration States: California, Florida, Illinois, Washington, Wisconsin Financial Requirements
Investment: Minimum Net Worth: $None Cash Investment: $3-4K Total Investment: $15.2-38.5K Average Total Investment: $27K Fees: Initial Franchise Fee: $6K or 12K Average Franchise Fee: $9K On-Going Royalty: 7% Average Royalty: 7% Advertising Fee: 2%
Average Number of Employees: 1 Full-time, 0 Part-timeSpace Needs (in square footage): N/APreferred Sites: Home-basedOther Sites: Encourage Conversions? YesEarnings Claims Provided? NoListed in the SBA Registry? NoSupport and Training
International Franchise Association: Yes Canadian Franchise Association: No Franchisee Association/Member: No Size of Corporate Staff: 25 Site Selection Assistance? Not Applicable Lease Negotiation Assistance? Not Applicable Financial Assistance? Yes, Direct Marketing Support: Co-Op Advertising: No National Advertising: Yes Regional Advertising: No Local Advertising: No Marketing Materials: Brochures, Coupons/rebates, Direct Mailers, Promotional Items Additional Services: Newsletter, Press Releases, Sales Strategies Other Marketing Support: None Specified On-Going Support: Central Data Processing: Included in Fees Central Purchasing: Included in Fees Field Operation Evaluation: Not Applicable Field Training: Included in Fees Initial Store Opening: Not Applicable Inventory Control: Not Applicable Franchisee Newsletter: Included in Fees Regional or National Meetings: At Additional Cost 800 Telephone Hotline: Included in Fees Training: 1. 8 Different Locations 7 Days 2. Online 6 Hours
Franchisee Qualifications
Ranked from 1 (unimportant) to 5 (important): Financial Net Worth: 3 General Business Experience: 2 Specific Industry Experience: 1 Formal Education: 1 Psychological Profile: 1 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: 1 Woman 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: 7 Year(s) Term of Renewal Period: 7 Year(s) Passive Ownership: Allowed Area Development Agreements? No Sub-Franchising Contracts? No Franchisees Allowed to Expand Within Territory? Yes
Expansion Plans
Projected New Units Over Next 12 months: 25
U.S.: Yes, All US except NV, OR, MA, CT, PA, AZ, LA, NJ, NC, Canada: No Overseas: No
