In this exclusive Franchise Chatter FDD Talk post, you’ll learn the following:
Section I – Estimated initial investment (franchise costs) for a Precision Door Service franchise, based on Item 7 of the company’s 2022 FDD
Section II – Initial franchise fee, royalty fee, and marketing fee for a Precision Door Service franchise, based on Items 5 and 6 of the company’s 2022 FDD
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Section IV – News updates on the Precision Door Service franchise opportunity
Section V – Presentation and analysis of Precision Door Service’s financial performance representations (average revenues and/or profits), based on Item 19 of the company’s 2022 FDD, including information on the:
- 2021 average, median, highest, and lowest gross sales for the 101 franchised Precision Door Service businesses that were in operation and reporting sales for the full 52 weeks of the 2021 calendar year
- 2021 average, median, highest, and lowest advertising costs, cost of goods sold, and labor costs for the 83 franchised Precision Door Service businesses that were in operation and reporting sales for the full 52 weeks of the 2021 calendar year and provided financial statements to Precision Door Service for the reporting period
Section VI – Key ratios, comparables, computations, and analyses for the Precision Door Service franchise opportunity (exclusive content for Platinum subscribers)
Section I – Precision Door Service Franchise Costs
- Precision Door Service franchise costs, based on Item 7 of the company’s 2022 FDD:
- Initial Franchise Fee: $33,000 to $330,000
- Office Lease: $1,000 to $3,000
- Office Build-Out: $0 to $4,000
- Telephone Number Charges: $0 to $500
- Yellow Pages Advertising: $1,000 to $7,500
- Software System Enrollment Fee: $1,250
- Deposits and Other Prepaid Expenses: $200 to $500
- Tools: $400 to $1,600
- Training and Travel, Lodging, and Food Expenses: $2,000 to $4,500
- Furniture and Fixtures: $1,000 to $4,000
- Office Equipment: $1,500 to $4,000
- Signage: $300 to $4,000
- Opening Parts and Electronics Inventory: $15,000 to $25,000
- Office Supplies: $300 to $800
- Truck(s): $1,200 to $2,400
- Insurance: $5,000 to $42,000
- Uniforms: $200 to $300
- Professional Fees, Licenses, and Trade Association Memberships: $500 to $5,000
- Website Development: $2,500 to $10,000
- Advertising and Promotional, and Local Marketing Spending: $15,000 to $50,000
- Additional Funds for First 3 Months of Operation: $30,000 to $90,000
- Total Estimated Precision Door Service Franchise Costs (does not include real estate costs): $111,350 to $590,350
Section II – Precision Door Service’s Initial Franchise Fee, Royalty Fee, and Marketing Fee
- Precision Door Service’s initial franchise fee, royalty fee, and marketing fee, based on Items 5 and 6 of the company’s 2022 FDD:
- Initial Franchise Fee: $0.33 per single family home one unit detached (“SFHUD”) included in your territory; a typical territory will include between 100,000 and 1,000,000 SFHUDs, making the typical initial franchise fee $33,000 (“Minimum Initial Franchise Fee”) to $330,000
- License Fee: 2% to 6% of Gross Sales (depending on the previous calendar year’s gross sales); in addition, minimum license fees apply
- Marketing, Advertising, and Promotions (MAP) Fee: 2% of Gross Sales
- Minimum Local Marketing Spending: the greater of: (a) $20,000; or (b) 5% of your Gross Sales for the previous year
Section III – Number of Franchised and Company-Owned Precision Door Service Outlets
Franchised
2019
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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
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- Outlets at the End of the Year: 98
- Net Change: +6
2020
- Outlets at the Start of the Year: 98
- Outlets at the End of the Year: 102
- Net Change: +6
2021
- Outlets at the Start of the Year: 102
- Outlets at the End of the Year: 108
- Net Change: +6
Company-Owned
2019
- Outlets at the Start of the Year: 1
- Outlets at the End of the Year: 0
- Net Change: -1
2020
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
2021
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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.- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
Section IV – News Updates on the Precision Door Service Franchise
Section V – Financial Performance Representations (Average Revenues and/or Profits) for the Precision Door Service Franchise (Item 19, 2022 FDD)
- The sales figures listed below include (a) average and median Gross Sales and (b) average and median cost of goods, cost of labor, and cost of advertising, each as a percentage of Gross Sales (collectively “Cost Data”), which figures are all derived from historical operating results of the Precision Door Service franchised businesses indicated for the time period covered.
- Precision Door Service obtained these sales figures from information provided to it by its franchisees for the period from January 1, 2021 through December 31, 2021 (the “Reporting Period”). Neither Precision Door Service nor its independent certified public accountants have audited or verified any of the sales figures reported to it. Franchisees are not required to use generally accepted accounting principles when reporting these figures.
- As of December 31, 2021, there were 108 Precision Door Service businesses in operation in the United States, all of which were franchised businesses. The average and median Gross Sales figures are calculated based on data from 101 businesses, which were all in operation and reporting sales for the full 52 weeks of the Reporting Period, and the Cost Data were calculated based on data from 83 franchised businesses, all of which were open for all 52 weeks during the Reporting Period.
- The information provided in this Item 19 does not include data from 7 franchised businesses that opened during the year 2021 and therefore were not in operation for the entire 52-week Reporting Period. The Cost Data also exclude data from 18 franchised businesses that failed to provide financial statements to Precision Door Service for the Reporting Period and therefore did not report Cost Data to Precision Door Service for the Reporting Period.
- This Item 19 also excludes data from one franchised business that closed during the Reporting Period. No business closed after being open for less than 12 months.
- “Gross Sales” means the total revenues and receipts from whatever source (whether in the form of cash, credit, agreement to pay, barter, trade, or other consideration) that arise, directly or indirectly, from the operation of a franchised business, or in connection with a franchised business whether under any of the Marks or otherwise.
- Gross Sales exclude sales taxes collected from customers and paid to the appropriate taxing authority and any other bona fide refunds, rebates, or discounts that Precision Door Service authorizes in writing. Gross Sales also exclude sales from any Excluded Services.
- “Cost of Goods Sold” means the cost of products (e.g., doors, operators, and springs) and parts (e.g., hinges, drums, end-plates, bearings, rollers, cables, and electronics).
2021 Reporting Period Gross Sales Data
- Number of Reporting Businesses: 101
- Median Gross Sales: $3,085,178.37
- Average Gross Sales: $3,925,854.42
- Lowest Gross Sales: $169,164.92
- Highest Gross Sales: $30,529,590.25
- Of the 101 reporting businesses, 31 (30%) businesses achieved or exceeded the average Gross Sales for the Reporting Period.
2021 Reporting Period Cost Data
- Number of Reporting Businesses: 83
Advertising Costs
- Median Advertising Costs: 12.46% of gross sales
- Average Advertising Costs: 13.37% of gross sales
- 34 (or 40.96%) of reporting businesses achieved or exceeded the average.
Cost of Goods Sold
- Median Cost of Goods Sold: 28.88% of gross sales
- Average Cost of Goods Sold: 29.84% of gross sales
- 36 (or 43.37%) of the reporting businesses achieved or exceeded the average.
Labor Costs
- Median Labor Costs: 17.26% of gross sales
- Average Labor Costs: 16.58% of gross sales
- 45 (or 54.22%) of the reporting businesses achieved or exceeded the average.
- No adjustments, including adjustments for geographic location, have been made to these reported sales and cost data.
- There are no material differences or characteristics between the outlets used in this financial performance representation and a new franchised outlet.
- Some outlets have earned this amount. Your individual results may differ. There is no assurance that you will earn as much.
Section VI – Precision Door Service Franchise Ratios, Comparables, Computations, and Analyses (Exclusive Content for Platinum Subscribers) ⬇️
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