Cash Investment (Liquid): $50,000
Minimum Investment: $154,300
Maximum Investment: $223,000
Minimum Net Worth: $250,000
Franchise Fee: $57,900
Royalty Type: Flat Percentage Fee
Royalty Fee Structure:
Greater of 5% of gross sales or $1,250 per month in your first 12 months of operations (whole or partial), $2,083 per month for months 13 through 24 of operations, or $2,917 per month thereafter
Ad Fee Structure:
Average # of Employees:
Year Established: 1988
Year First Franchised: 1988
Floor Coverings International
WHO ARE WE?
Floor Coverings International offers residential and commercial customers the ability to shop for flooring at their location on their time. Utilizing their Mobile Showroom filled with thousands of samples, they offer Carpet, Tile, Hardwood, Laminate, Area Rugs, and Luxury Vinyl flooring. With one the largest selections of flooring from every major manufacturer, FCI franchisees and their staff work with customers to beautify their space. With cutting edge, proprietary computer software, INSPIRENET allows a client to get a price after a short 60-90 minute visit. Backed with powerful marketing and advanced analytical tracking systems, the FCI franchise owner is in complete control of their business, their employees and their future.
Newest and fastest growing brand of First Service Brands. An organization with a 40 year track record of building strong franchise brands. Floor Coverings International has available territories in almost every market!
We offer comprehensive lead generation, appointment scheduling, sales, and technology systems that are changing the way customers view the flooring industry. Whether it's our national call center or our state-of-the-art desktop and mobile estimating software, our franchisees are able to run their business with major competitive advantages. Because of our systems and support, franchisees with Floor Coverings International become formidable players in their marketplace immediately.
Sophisticated analysis package – in real time, our franchisees know what the ROI metrics are on their business, lead generation, marketing effectiveness, and many other KPI’s.
Low overhead / no retail space - Franchisees are required to operate from an office/warehouse location called the Design Studio. This is non-prime real estate and likely is found in an industrial or flex space Business Park. The physical location acts more like a warehouse to receive just in time ordered product and location for franchisees and their employees rather than a retail store to receive customers. It will be about 12001500sq feet to start out with a budget of $750-$1000/month. Floor Coverings International helps franchisees find this space.
Extensive pre-opening support and training for 45 days. 14 days of initial classroom training at Headquarters over the first year in 3 training classes (spread out in sessions held within the first 6 months of operating the business) and field training at least twice in the first year and annually beyond the first year. Significant continuing educational programs in the form of bi-monthly system wide webinars as wells as utilization of our LMS (learning management system) and FloorNet (intranet support center).
Operational support is split into 2 distinct departments; New Franchisee and Emerging. With both groups there are weekly calls to track every metric in the business (ROI, marketing effectiveness, margins etc.)
New Franchisee - this group ensures that the franchisee gets their business open and cash flowing.
Emerging – once the franchisee hits sustainable time-phased cash flow benchmarks they go into the emerging support department. This team’s job is to work with the franchisee to grow a BIG business with a short term first goal of achieving $2 million in sales.
Other ongoing training and support opportunities:
Momentum Groups - These are composed of 5-6 franchisees per group and are a peer support network that holds each other accountable to big business growth.
Annual Conference every January for all franchisees and staff.
Summer Sales Summit for all sales managers and sales employees of franchisees.
Online - there is a suite of online tools that measure every aspect of the business in real time such as: Lead flow origin, Scheduling, Sales calls, Proposals generated, Proposals closed, Cash outstanding
LMS – Online training in every aspect of the business.
Practice groups – weekly webinars where franchisees and their team members hone their sales skills.
Day in the Life of a franchise owner centers on the following:
Networking with other businesses - This is one the most important components of the business owner’s day. Franchisees network with businesses that come across flooring jobs but do not do the flooring work themselves (restoration companies, realtors, architects, remodelers, property management, multi-family unit owners, etc.)
Attend BNI meetings, Chamber of Commerce meetings as well as other structured networking opportunities
Leading the team - Guiding and growing their staff. Ensuring that the sales team has leads, is following structure, and hitting their numbers. Ensuring that the project coordination team is controlling costs.
Overseeing the business metrics - Working with Floor Coverings International corporate to ensure the business is hitting financial / time based milestones. Ensuring marketing ROI hits budget and goals and ensuring KPI’s are on trend for business plan budgets and goals.
Meeting with customers - Ensuring customer satisfaction as measured and analyzed using NPS (Net Promoter Score) and customer reviews.
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