In this FDD Talk 2017 post, you’ll learn the following:
- Section I – Background information on the Two Men and a Truck franchise opportunity, including relevant news updates
- Section II – Estimated initial investment for a Two Men and a Truck franchise, based on Item 7 of the company’s 2017 FDD
- Section III – Initial franchise fee, royalty fee, marketing fee, and other fees for a Two Men and a Truck franchise, based on Items 5 and 6 of the company’s 2017 FDD
- Section IV – Presentation and analysis of Two Men and a Truck’s financial performance representations, based on Item 19 of the company’s 2017 FDD, including information on the:
- average annual gross sales for the years 2012 through 2016 for all franchises open as of December 31st of each of those years
- average annual gross sales, direct labor expenses, cost of supplies/damages, moving truck expenses, advertising expenses, operating fees, administration/support staff expenses, and total average annual expenses for experienced franchises (i.e. those that were in operation as of December 31, 2016 and, at that time, had been in operation for at least five years) for the years 2012 through 2016
- average annual gross sales, direct labor expenses, cost of supplies/damages, moving truck expenses, advertising expenses, operating fees, administration/support staff expenses, and total average annual expenses for the top 25% of experienced franchises in terms of net profit (by dollar amount) for the years 2012 through 2016
- average annual gross sales, direct labor expenses, cost of supplies/damages, moving truck expenses, advertising expenses, operating fees, administration/support staff expenses, and total average annual expenses for new franchises (i.e. those that completed their first 12 months of operations during the years 2012 through 2016 and that were in operation as of December 31, 2016) for each of the first four years they were operated
- average annual gross sales, direct labor expenses, cost of supplies/damages, moving truck expenses, advertising expenses, operating fees, administration/support staff expenses, and total average annual expenses for the top 25% of new franchises in terms of net profit (by dollar amount) for each of the first four years they were operated
- equity growth by year (2011 through 2016) for franchises that are members of the captive insurance program
Section I – Background Information
10 Things You Need to Know About the Two Men and a Truck Franchise
Celebrating Record Growth
1. Two Men and a Truck started 2017 by celebrating 85 consecutive months of record growth. In 2016, the company experienced 10 percent growth in year-over-year sales compared to 2015 and completed over 500,000 moves nationwide. Two Men and a Truck also awarded 19 franchises and expanded its corporate support team. All of these milestones helped the company to rank No. 10 on Forbes’ annual Best Franchises in America list for franchises with a medium investment ranging from $150,000 to $500,000.
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Colin started as a team member at 21 and now owns 6 locations in Tampa Bay. Lisa came from marketing and built 21 in San Diego. The most successful multi-unit owners move early and secure markets with room to grow. Use our free tool to search multiple ZIP codes and find franchises where you can still stack locations, before someone else does.2. The company’s growth took place in both domestic and international markets. In 2016, Two Men and a Truck expanded into two new states – New Jersey and Maine. The company also expanded throughout Canada by opening locations in Calgary North, Alberta; Edmonton South, Alberta; Vancouver, British Columbia; Burnaby, British Columbia; Coquitlam, British Columbia; and Winnipeg, Manitoba.
3. During the first quarter of 2017, Two Men and a Truck experienced 15 percent growth in year-over-year sales which has put the company in a good position as summer starts (the summer months are the busiest moving months of the year). In the first quarter, Two Men and a Truck signed eight franchise agreements and had four grand openings. The company also entered a new state, Montana, in April.
Expands New, Affordable Long-Distance Moving Option
4. In 2016, Two Men and a Truck launched a pilot program, called Value Flex, which the company hoped would become a national solution to provide customers with a new, affordable long-distance moving option. According to the company, prior to the launch of the Value Flex program, consumers looking to move long distances have not had a great customer service solution from a nationally certified moving company providing them with the assurance that their belongings would arrive safely to their new address.
5. It has been less than a year since Value Flex was made available in four cities, but it has already proved successful. In early May 2017, Two Men and a Truck announced that it would be expanding the Value Flex program by offering it in 16 logistics hubs, with the capabilities to move even more customers across the U.S.
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When I owned a UPS Store, I learned firsthand how much your ZIP code shapes your outcome. I sold my store at a premium because my territory was in a high-value area. The best areas go first, and once they're gone, they're gone. Enter your ZIP code to see which franchises are still available near you, saving you months of wasted research.🔴Free Webinar: 6 Under-the-Radar Franchise Concepts That Serious Buyers Should Know
Every month we feature 6 standout franchises that could be the opportunity you've been looking for, each evaluated on disclosed financials and matched to the type of buyer most likely to succeed with it. Can't attend live on October 27 at 6PM EST? Register now and we'll send you the full recording the next day. Reserve your spot here.6. According to the company, the Value Flex program was the missing piece in Two Men and a Truck’s long-distance offerings. The new service offers a reduced price on long-distance moves by efficiently planning move logistics.
7. A Value Flex move utilizes the services of a dedicated long-haul carrier to transport the container to another Two Men and a Truck franchise near the customer’s final destination. From there, that local team will make the delivery and unload items at the customer’s new location.
Company History
8. Two Men and a Truck was founded in the early 1980s by brothers Brig Sorber and Jon Sorber in Lansing, Michigan. The brothers used an old ’66 Ford pickup truck to move furniture for extra spending money.
9. When the Sorbers went off to college, their mother Mary Ellen Sheets took over the business. Sheets is also credited with drawing the stick-figure logo that is still being used today. In 1985, Sheets purchased a 14-foot truck and hired a pair of movers. She began franchising the company in 1989. Today, there are over 350 Two Men and a Truck locations in the U.S. and Canada.
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When I owned a UPS Store, I learned firsthand how much your ZIP code shapes your outcome. I sold my store at a premium because my territory was in a high-value area. The best areas go first, and once they're gone, they're gone. Enter your ZIP code to see which franchises are still available near you, saving you months of wasted research.📈Dreaming of Multi‑Unit Success? Lock In Prime Territories Before They're Gone.
Colin started as a team member at 21 and now owns 6 locations in Tampa Bay. Lisa came from marketing and built 21 in San Diego. The most successful multi-unit owners move early and secure markets with room to grow. Use our free tool to search multiple ZIP codes and find franchises where you can still stack locations, before someone else does.Entrepreneur’s Franchise 500
10. Two Men and a Truck has appeared on Entrepreneur’s annual Franchise 500 list every year in the last decade. The company’s highest rank was No. 128 in 2017, while its lowest rank was No. 212 in 2009.
Section II – Estimated Costs
- Please click here for detailed estimates of Two Men and a Truck franchise costs, based on Item 7 of the company’s 2017 FDD (updated).
Section III – Initial Franchise Fee, Royalty Fee, Marketing Fee, and Other Fees
- Please click here for detailed information on Two Men and a Truck’s initial franchise fee, royalty fee, marketing fee, and other fees, based on Items 5 and 6 of the company’s 2017 FDD.
Section IV – Financial Performance Representations (Item 19, 2017 FDD) and Analysis
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