In this exclusive Franchise Chatter FDD Talk post, you’ll learn the following:
Section I – Estimated initial investment (franchise costs) for a Benjamin Franklin Plumbing franchise, based on Item 7 of the company’s 2022 FDD
Section II – Initial franchise fee, royalty fee, and marketing fee for a Benjamin Franklin Plumbing franchise, based on Items 5 and 6 of the company’s 2022 FDD
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Section IV – News updates on the Benjamin Franklin Plumbing franchise opportunity
Section V – Presentation and analysis of Benjamin Franklin Plumbing’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 revenue per territory, by quartile, for the 78 Benjamin Franklin Plumbing franchisees representing 241 territories that were in operation for the entire 2021 fiscal year
- 2021 average, median, highest, and lowest gross revenue, by quartile, for the 78 Benjamin Franklin Plumbing franchisees representing 241 territories that were in operation for the entire 2021 fiscal year
- total gross revenue growth between calendar years 2020 and 2021 for the 77 Benjamin Franklin Plumbing franchisees representing 231 territories that were in business and reporting revenue as of December 31, 2020 and as of December 31, 2021
- 2020 and 2021 aggregate gross revenue (“systemwide sales”) reported by all Benjamin Franklin Plumbing franchisees whose Benjamin Franklin Plumbing businesses were operational for any part (even as little as one month if the franchisee completed initial training in December of their initial year)
Section VI – Key ratios, comparables, computations, and analyses for the Benjamin Franklin Plumbing franchise opportunity (exclusive content for Platinum subscribers)
Section I – Benjamin Franklin Plumbing Franchise Costs
- Benjamin Franklin Plumbing franchise costs (start-up franchise), based on Item 7 of the company’s 2022 FDD:
- Franchise Fee: $43,000
- Rent/Lease of Real Estate: $3,000 to $12,000
- Leasehold Improvements: $0 to $5,000
- Computer Systems: $800 to $2,000
- Software: $2,061 to $6,971
- Office Furniture and Equipment: $1,000 to $5,000
- Machinery, Tools, and Equipment: $1,000 to $10,000
- Vehicles: $3,000 to $7,500
- Signage for Vehicles: $7,000 to $14,000
- Office Signage: $1,000 to $3,000
- Travel Expenses for Initial Training: $1,100 to $3,300
- Initial Vehicle Inventory: $1,000 to $10,000
- Insurance: $2,000 to $12,000
- Start-up Supplies: $1,000 to $5,000
- Professional Fees and Licensing: $0 to $9,000
- Vehicle Registration Fees: $1,500 to $2,000
- Decals for Consumer Units: $100 to $300
- Telephone Services: $62 to $162
- Personal Tools for Technicians: $0 to $1,000
- Additional Funds for 3 Months: $22,500 to $50,000
- Total Estimated Benjamin Franklin Plumbing Franchise Costs: $91,123 to $201,233
Section II – Benjamin Franklin Plumbing’s Initial Franchise Fee, Royalty Fee, and Marketing Fee
- Benjamin Franklin Plumbing’s initial franchise fee, royalty fee, and marketing fee, based on Items 5 and 6 of the company’s 2022 FDD:
- Franchise Fee: $43,000, plus $0.43 for each person above 100,000 in the franchise territory
- Royalty Fee: 6% of Gross Revenue or $1,500 per month (the “Minimum Royalty”), whichever is greater
- Brand Fund Contribution: up to 4% of Gross Revenue. Currently, the contribution is based on your Gross Revenue for the calendar year and is payable according to the following schedule: 1.5% of the first $5,000,000 of Gross Revenue in the then-current calendar year; then 1.25% of Gross Revenue in excess of $5,000,000 and up to $10,000,000 in the then-current calendar year; then 1% of Gross Revenue in excess of $10,000,000 and up to $15,000,000 in the then-current calendar year; then 0.75% of Gross Revenue in excess of $15,000,000 and up to $20,000,000 in the then-current calendar year; then 0% with respect to Gross Revenue in excess of $20,000,000 in the then-current calendar year.
- Local Marketing and/or Cooperative: generally, Benjamin Franklin Plumbing recommends, but does not require, that you spend at least 8% to 12% of Gross Revenue annually on local marketing. However, if you fail to achieve your Required Annual Sales, Benjamin Franklin Plumbing will require you to spend at least 8% of Gross Revenue on Local Marketing during each of the following 12 months.
Section III – Number of Franchised and Company-Owned Benjamin Franklin Plumbing Outlets
Franchised
2019
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- Outlets at the End of the Year: 258
- Net Change: +1
2020
- Outlets at the Start of the Year: 258
- Outlets at the End of the Year: 247
- Net Change: -11
2021
- Outlets at the Start of the Year: 247
- Outlets at the End of the Year: 256
- Net Change: +9
Company-Owned
2019
- Outlets at the Start of the Year: 10
- Outlets at the End of the Year: 10
- Net Change: 0
2020
- Outlets at the Start of the Year: 10
- Outlets at the End of the Year: 10
- 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: 10
- Outlets at the End of the Year: 10
- Net Change: 0
Section IV – News Updates on the Benjamin Franklin Plumbing Franchise
Section V – Financial Performance Representations (Average Revenues and/or Profits) for the Benjamin Franklin Plumbing Franchise (Item 19, 2022 FDD)
- In this Item 19, Benjamin Franklin Plumbing presents historical information for franchised Benjamin Franklin Plumbing businesses for the 2021 fiscal year. The data in this Item from January 1, 2021 to May 14, 2021 was collected by the franchisor’s predecessor, BFP.
- Parts 1 and 2 present information on 78 Franchisees representing 241 Territories that were in operation for the entire 2021 fiscal year.
- Excluded from these tables are 5 franchisees (representing 11 Territories) that use a business software system other than SuccessWare and thus did not follow the same reporting procedures as the included franchisees. Benjamin Franklin Plumbing has no reason to believe the results for this excluded group are atypical, but for data integrity Benjamin Franklin Plumbing cannot combine them with results reported via SuccessWare.
- The tables also exclude 1 Franchisee (representing 3 Territories) that did not report Gross Revenue for the entire fiscal year and 1 franchisee (representing 1 Territory) that opened an outlet during the 2021 fiscal year and therefore did not report Gross Revenue for the entire 2021 fiscal year.
Part 1 – Gross Revenue by Territory, by Quartile for the Fiscal Year Ended December 31, 2021
Top 25%
- Number of Franchisees in Group: 20
- Number of Territories: 38
- Aggregate Gross Revenue for Territories in Group: $71,933,978
- Average Gross Revenue Per Territory: $1,892,999
- Highest Territory Gross Revenue in Group: $3,678,231
- Lowest Territory Gross Revenue in Group: $1,470,993
- Median Territory Gross Revenue for Group: $1,824,021
- Number of Territories Exceeding Group Average: 15
- Percent of Territories Exceeding Group Average: 39%
2nd Quartile
- Number of Franchisees in Group: 19
- Number of Territories: 51
- Aggregate Gross Revenue for Territories in Group: $55,274,432
- Average Gross Revenue Per Territory: $1,083,812
- Highest Territory Gross Revenue in Group: $1,461,920
- Lowest Territory Gross Revenue in Group: $875,943
- Median Territory Gross Revenue for Group: $1,084,952
- Number of Territories Exceeding Group Average: 17
- Percent of Territories Exceeding Group Average: 33%
3rd Quartile
- Number of Franchisees in Group: 19
- Number of Territories: 81
- Aggregate Gross Revenue for Territories in Group: $49,940,899
- Average Gross Revenue Per Territory: $616,554
- Highest Territory Gross Revenue in Group: $869,313
- Lowest Territory Gross Revenue in Group: $453,101
- Median Territory Gross Revenue for Group: $600,219
- Number of Territories Exceeding Group Average: 36
- Percent of Territories Exceeding Group Average: 44%
Bottom 25%
- Number of Franchisees in Group: 20
- Number of Territories: 71
- Aggregate Gross Revenue for Territories in Group: $17,793,310
- Average Gross Revenue Per Territory: $250,610
- Highest Territory Gross Revenue in Group: $449,879
- Lowest Territory Gross Revenue in Group: $38,360
- Median Territory Gross Revenue for Group: $243,409
- Number of Territories Exceeding Group Average: 37
- Percent of Territories Exceeding Group Average: 52%
Total System
- Number of Franchisees in Group: 78
- Number of Territories: 241
- Aggregate Gross Revenue for Territories in Group: $194,942,619
- Average Gross Revenue Per Territory: $812,261
- Highest Territory Gross Revenue in Group: $3,678,231
- Lowest Territory Gross Revenue in Group: $38,360
- Median Territory Gross Revenue for Group: $869,313
- Number of Territories Exceeding Group Average: 88
- Percent of Territories Exceeding Group Average: 37%
- The table reports 78 Franchisees, ranked in order from highest Average Gross Revenue per Territory to lowest Average Gross Revenue per Territory.
- In some cases, a franchisee may have increased or decreased its number of Territories during the fiscal year. For purposes of the table, Benjamin Franklin Plumbing includes all of the Territories operated by a franchisee that were operated during any time in the 2021 fiscal year.
- Gross Revenue is not reduced on account of any fees or commissions you pay to third parties who refer customers. The Gross Revenue data for a franchisee may include sales in “open” Territory, that is, territory that had not been awarded to a franchisee.
Part 2 – Gross Revenue of Franchisees, by Quartile for the Fiscal Year Ended December 31, 2021
Top 25%
- Number of Franchisees in Group: 20
- Number of Territories: 101
- Aggregate Gross Revenue for Group: $110,149,621
- Average Gross Revenue for Group: $5,507,481
- Highest Gross Revenue in Group: $12,860,480
- Lowest Gross Revenue in Group: $3,254,855
- Median Gross Revenue for Group: $4,951,960
- Number Exceeding Group Average: 6
- Percent Exceeding Group Average: 30%
2nd Quartile
- Number of Franchisees in Group: 19
- Number of Territories: 65
- Aggregate Gross Revenue for Group: $44,589,593
- Average Gross Revenue for Group: $2,346,821
- Highest Gross Revenue in Group: $3,126,306
- Lowest Gross Revenue in Group: $1,831,768
- Median Gross Revenue for Group: $2,295,822
- Number Exceeding Group Average: 8
- Percent Exceeding Group Average: 42%
3rd Quartile
- Number of Franchisees in Group: 19
- Number of Territories: 32
- Aggregate Gross Revenue for Group: $28,301,196
- Average Gross Revenue for Group: $1,489,537
- Highest Gross Revenue in Group: $1,795,247
- Lowest Gross Revenue in Group: $1,151,117
- Median Gross Revenue for Group: $1,470,993
- Number Exceeding Group Average: 9
- Percent Exceeding Group Average: 47%
Bottom 25%
- Number of Franchisees in Group: 20
- Number of Territories: 43
- Aggregate Gross Revenue for Group: $11,902,208
- Average Gross Revenue for Group: $595,110
- Highest Gross Revenue in Group: $1,051,379
- Lowest Gross Revenue in Group: $76,720
- Median Gross Revenue for Group: $549,317
- Number Exceeding Group Average: 9
- Percent Exceeding Group Average: 45%
Total System
- Number of Franchisees in Group: 78
- Number of Territories: 241
- Aggregate Gross Revenue for Group: $194,942,619
- Average Gross Revenue for Group: $2,499,264
- Highest Gross Revenue in Group: $12,860,480
- Lowest Gross Revenue in Group: $76,720
- Median Gross Revenue for Group: $1,795,247
- Number Exceeding Group Average: 12
- Percent Exceeding Group Average: 15%
Part 3 – Active Franchise Revenue Growth (in Business and Reporting as of December 31, 2020 to December 31, 2021)
- Part 3 below shows the total Gross Revenue growth between calendar years 2020 and 2021 for 77 Franchisees that were in business and reporting revenue as of December 31, 2020 and as of December 31, 2021. These Franchisees operated a total of 231 Territories during calendar year 2020 and during calendar year 2021.
- A Franchisee was considered in business as of December 31, 2020 or December 31, 2021 if it reported Gross Revenue greater than $0 during the month of December 2020 or December 2021, respectively.
- 2020: $158,010,449 (231 Territories)
- 2021: $189,515,400 (19.9% year-over-year growth; 231 Territories)
Part 4 – Systemwide Sales
- Part 4 sets forth the aggregate Gross Revenue (“Systemwide Sales”) reported by all Benjamin Franklin Plumbing franchisees whose Benjamin Franklin Plumbing businesses were operational for any part (even as little as one month if the franchisee completed initial training in December of their initial year).
- 2020: $170,262,156 (291 Territories)
- 2021: $204,749,077 (20.3% year-over-year growth; 278 Territories)
- The financial performance representations in the table are historic information and not a forecast of future financial performance.
- The financial information Benjamin Franklin Plumbing utilized in preparing the preceding financial performance representations was based entirely upon information reported to it by franchisees. None of this information was audited or otherwise reviewed or investigated by Benjamin Franklin Plumbing or by any independent accountant or auditing firm, and no one has audited, reviewed, or otherwise evaluated this information for accuracy or expressed his/her opinion with regard to its content or form.
- Some outlets have sold this amount. Your individual results may differ. There is no assurance that you will sell as much.
Section VI – Benjamin Franklin Plumbing Franchise Ratios, Comparables, Computations, and Analyses (Exclusive Content for Platinum Subscribers) ⬇️
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