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Forum topic by oakdust posted 10-05-2009 05:35 AM 1831 views 0 times favorited 25 replies Add to Favorites Watch
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oakdust

177 posts in 3281 days


10-05-2009 05:35 AM

In an efforet to promote business i have been checking into the Furniture Medeic Francise. Lots of money to get started but I wonder about annual income and number of referels per 30 days. Antone have any experince with this company or ever applied to them before.
Thanks In Advance everyone
Bob

-- Bob, Rockford IL,


25 replies so far

View TopamaxSurvivor's profile

TopamaxSurvivor

17672 posts in 3142 days


#1 posted 10-05-2009 06:22 AM

No, but be careful and read the fine print. I listened to the promo speech of a franchise that was trying to move into the Seattle area back when I first started. They wanted a % off the top of my total business, not just the part they would be involved in.

-- Bob in WW ~ "some old things are lovely, warm still with life ... of the forgotten men who made them." - D.H. Lawrence

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oakdust

177 posts in 3281 days


#2 posted 10-05-2009 01:30 PM

Thanks Top, I never thought about a percentage after buying the Francise

-- Bob, Rockford IL,

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Tim Marko

41 posts in 3254 days


#3 posted 10-05-2009 04:04 PM

Paying a percentage is not necessarily a bad thing, IF you are getting something ongoing in return.

Many franchisees pay a percentage but are getting ongin advertising and marketing etc., as well as ongoing training. Some of these things a single biz owner could not afford on the level a corporation can do.

That being said, if your not getting anything for your money, you might do just as well hanging out your own shingle.

-- Tim, trying to come up with something cool to say here!

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oakdust

177 posts in 3281 days


#4 posted 10-05-2009 04:13 PM

Thanks Tim, good info. Alot to check into and people to talk to before I invest.

-- Bob, Rockford IL,

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TopamaxSurvivor

17672 posts in 3142 days


#5 posted 10-05-2009 06:53 PM

You’re welcome. At the time I was doing 250k in commercial and industrial. If I signed their franchise targeting residential work, I had to pay something like 10% off the top of that too!! They said they would corner the market here, which I doubted. I did see a few franchisees for a yr or 2, but that was it. Markets are a bit hard to corner with too much overhead ;-)) Since the 1980 recession, contractors have run about 3% margins in general. That extra 10% wsn’t in the work to be had:-((

-- Bob in WW ~ "some old things are lovely, warm still with life ... of the forgotten men who made them." - D.H. Lawrence

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SCOTSMAN

5839 posts in 3051 days


#6 posted 10-05-2009 06:59 PM

I too would be wary of their predictions for capturing the market.Some franchises are a good thing like a macdonald’s hamburger store but this lot I don’t think are even remotely going to corner the market.watch your money.Alistair

-- excuse my typing as I have a form of parkinsons disease

View 's profile

593 posts in 3438 days


#7 posted 10-07-2009 02:51 PM

Bob, there is a fellow LumberJock that used to have one of those franchises along with his son… until he closed the doors this year.

Unfortunately I can’t remember his name but he blogged about it. If you do a site search it should probably come right along.

If I recall correctly, it was fairly recent that he went out of business and the reason seemed to be the down market we are immersed in.

View 's profile

593 posts in 3438 days


#8 posted 10-07-2009 02:56 PM

There you go, I found him. His name is Myron. Look into his blog and contact him by PM. I don’t doubt that, n the purest LJ spirit, he’ll be glad to help you decide.

View bob1638's profile

bob1638

17 posts in 2614 days


#9 posted 10-12-2009 05:15 PM

As a former Furniture Medic…I bought my francise in 1994, with a 10 year contract. As I understand the contracts now are for 5 years.

I was able to survive the 10 years thru much trial and efforts. After my contract expired, I continued on under a different name. The past 15 years in the furniture repair and restoration business have been a real learning experience. Good times and bad times.

I my opinion the 8% of the gross income is WAY OUT OF LINE!!! That takes way too much of your operating cash just pay the fees.

Second – strong backgrounds in art and wood woodworking are necessary. Doing a touchup require good color mixing capabilities and hand painting wood grain over a fill…this where the art skills come in. Making the repairs and fabricating missing wood pieces or repairing damaged wood pieces…is where the woodworking skills come in.

If you have any questions, let me know and I’ll be happy to answer them for you.

Bob

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Milo

869 posts in 2785 days


#10 posted 10-12-2009 06:23 PM

Nope nope nope nope nope, no no no no no, don’t don’t don’t don’t don’t.

Clear?

;-)

Milo

-- Beer, Beer, Thank God for Beer. It's my way of keeping my mind fresh and clear...

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a1Jim

115202 posts in 3043 days


#11 posted 10-12-2009 06:45 PM

Hey Bob
I have looked into a number of franchises and feel unless they are very well know your better off learning the business on your own through classes and your own plus advertising on your own. All this will cost less than your up front fees and you don’t have to share your profits with anyone.

-- http://artisticwoodstudio.com Custom furniture

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bob1638

17 posts in 2614 days


#12 posted 10-12-2009 08:37 PM

Oakdust—- I just checked out your website. Nice work!

As an addition to my above reply…You all ready have the skills that Furniture Medic will teach you. You would be better off and save a bunch of $$$ by not buying into Furniture Medic. You won’t reap enough rewards to justify the $$$ involved to buy (rent) the name.

Bob

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oakdust

177 posts in 3281 days


#13 posted 10-12-2009 09:32 PM

Thanks Bob! Thanks everyone for the info. I knew LJ would be the place to get the true info. I am not going to buy into Furniture Medic, it sounds like they would make more money then I would. I have signed up for classes with Mohawk, bought Charles Neils finishing DVD’s and have read about every book I can get my hands on. But the best teacher so far as been the screw ups and leanrning how to fix them. (Not that I make mistakes) I also have stock in the Golden Gate Bridge for sale :-) I have been beating my hard head against the wall trying to find the right approach to get commercial accounts but with no luck. I have signs on the truck and have never gotten a call from the signs. Sent out mailings I did myself, and the same thing. No response. I’ve been thinking about a class in advertising, any suggestions for books on advertising?

-- Bob, Rockford IL,

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TopamaxSurvivor

17672 posts in 3142 days


#14 posted 10-12-2009 09:35 PM

I would have to agree with Jim. A % off the top can be the maker or breaker!

A friend of mine bought an electrical contracting firm from an owner who was retiring. He took them around and introduced them to the customers. When many of them called, they asked for the previous owner. The new owners repeated what the customers had already been told, but the majority went and found service else where. They ended up with about 20% of the old owners business in reality.

-- Bob in WW ~ "some old things are lovely, warm still with life ... of the forgotten men who made them." - D.H. Lawrence

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TopamaxSurvivor

17672 posts in 3142 days


#15 posted 10-12-2009 09:40 PM

Personal contacts, word of mouth and networking are the business builders. Ads in the yellow pages are marginal and (edit) NOT worth the cost in my business. You need a good position at the top front of the catagory. My son-in-law is having good luck with Agnies list.

-- Bob in WW ~ "some old things are lovely, warm still with life ... of the forgotten men who made them." - D.H. Lawrence

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