In this exclusive Franchise Chatter FDD Talk post, you’ll learn the following:
Section I – Estimated initial investment (franchise costs) for an Ace Handyman Services franchise, based on Item 7 of the company’s 2023 FDD
Section II – Initial franchise fee, royalty fee, and marketing fee for an Ace Handyman Services franchise, based on Items 5 and 6 of the company’s 2023 FDD
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Section IV – News updates on the Ace Handyman Services franchise opportunity
Section V – Presentation and analysis of Ace Handyman Services’ financial performance representations (average revenues and/or profits), based on Item 19 of the company’s 2023 FDD, including information on the:
- 2022 average gross revenue, cost of goods sold, gross profit, other expenses, and owner’s discretionary income for the 64 single-territory Ace Handyman Services Reporting Operators that had been open for at least 12 months as of December 31, 2022, and provided the franchisor with complete financial reports during the full year of 2022
- 2022 average gross revenue, cost of goods sold, gross profit, other expenses, and owner’s discretionary income for the 30 multi-territory Ace Handyman Services Reporting Operators that had been open for at least 12 months as of December 31, 2022, and provided the franchisor with complete financial reports during the full year of 2022
Section VI – Key ratios, comparables, computations, and analyses for the Ace Handyman Services franchise opportunity (exclusive content for Platinum subscribers)
Section I – Ace Handyman Services Franchise Costs
- Ace Handyman Services franchise costs, based on Item 7 of the company’s 2023 FDD:
- Initial Franchise Fee: $70,000 to $100,000
- Travel and Living Expenses While Training: $3,500 to $5,000
- Lease Deposit: $1,000 to $3,000
- Rent for First 3 Months: $3,000 to $4,500
- Leasehold Improvements and Signage: $800 to $5,000
- Furnishings: $800 to $5,000
- Tools and Equipment: $0 to $3,500
- Truck or Van: $0 to $2,950
- Computer Hardware and Office Equipment: $2,250 to $5,000
- Software and Internet Fees (3 months): $1,497
- Start-up Advertising: $7,500 to $9,000
- Utility Deposits and Fees: $100 to $450
- Licenses and Permits: $630 to $1,600
- Insurance: $4,000 to $5,100
- Professional Fees: $500 to $3,000
- Miscellaneous Opening Costs: $2,000 to $4,500
- Additional Funds for 3 Months: $30,000 to $45,000
- Total Estimated Ace Handyman Services Franchise Costs: $127,577 to $204,097
Section II – Ace Handyman Services’ Initial Franchise Fee, Royalty Fee, and Marketing Fee
- Ace Handyman Services’ initial franchise fee, royalty fee, and marketing fee, based on Items 5 and 6 of the company’s 2023 FDD:
- Initial Franchise Fee: $70,000 for a Territory size of up to 70,000 households. If your actual Territory size exceeds 70,000 households, the Initial Franchise Fee is increased $1.00 for each additional household located in the Territory, up to a maximum Territory size of 100,000 households.
- Royalty Fee: 6% of your actual Gross Revenues of the previous month, subject to annual reconciliation based on your Minimum Annual Gross Revenues requirements
- National Brand Fee: 2% of your actual Gross Revenues, subject to annual reconciliation based on your Minimum Annual Gross Revenues requirements
- Minimum Individual Marketing Expenditure: $30,000 from your third full month through the end of your first year of operations, $40,000 in your second year of operations, and $50,000 for each subsequent year
Section III – Number of Franchised and Company-Owned Ace Handyman Services Outlets
Franchised
2020
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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, and a territory specialist will walk you through the franchises still available near you, drawing on information that isn't publicly accessible, 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: 123
- Net Change: +8
2021
- Outlets at the Start of the Year: 123
- Outlets at the End of the Year: 225
- Net Change: +102
2022
- Outlets at the Start of the Year: 225
- Outlets at the End of the Year: 305
- Net Change: +80
Company-Owned
2020
- Outlets at the Start of the Year: 7
- Outlets at the End of the Year: 7
- Net Change: 0
2021
- Outlets at the Start of the Year: 7
- Outlets at the End of the Year: 7
- Net Change: 0
2022
🎯Find Best-Fit Franchises Still Available in Your Target Area (Free Tool)
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, and a territory specialist will walk you through the franchises still available near you, drawing on information that isn't publicly accessible, 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. A franchise specialist will be in touch to present what's available.- Outlets at the Start of the Year: 7
- Outlets at the End of the Year: 7
- Net Change: 0
Section IV – News Updates on the Ace Handyman Services Franchise
Section V – Financial Performance Representations (Average Revenues and/or Profits) for the Ace Handyman Services Franchise (Item 19, 2023 FDD)
- As of December 31, 2022, there were 305 franchised Ace Handyman Services Businesses (referred to in this Item 19 as “Territories”) and seven affiliated Ace Handyman Services Businesses in operation, with the franchised outlets operated by a total of 170 different franchise owners.
- In this Item 19, the franchisor refers to the Ace Handyman Services Businesses as “Territories” and the franchise owners as “Operators.”
- Not included in any of these numbers are 6 franchisees that closed a total of 8 Territories at some point during the year 2022, one of which had been open for less than 12 months before closing, and 31 franchisees representing 41 Territories that did not commence operations as of December 31, 2022. None of those franchisees are shown in the tables.
- Out of the 170 Operators operating as of December 31, 2022, a total of 56 Operators, representing a total of 88 combined Territories, had not been open for at least 12 months as of December 31, 2022, and 20 Operators did not provide the franchisor with complete financial reports during the full year of 2022. The franchisor also excluded those Operators from these tables. The seven Ace Handyman Services Businesses operated by the franchisor’s affiliate are also not included in this Item 19.
- The results of the remaining 94 Operators, all of whom operated for the full calendar year 2022 are shown in the tables below. These Operators are referred to as the “Reporting Operators.” There were 64 Reporting Operators that owned and operated in a single Territory, and 30 Reporting Operators who owned multiple Territories.
- Because Multi-Territory Reporting Operators’ results may vary from the results of Single-Territory Reporting Operators, Ace Handyman Services includes below separate tables for the results of the Single-Territory Reporting Operators and Multi-Territory Reporting Operators.
Part 1 – Single-Territory Reporting Operators (64 Reporting Operators)
Income
- Labor Revenue: $423,592 (74.6%)
- Material Revenue: $90,804 (16.0%)
- Service Charge Revenue: $43,658 (7.7%)
- Trash, Rental, Etc. Revenue: $9,878 (1.7%)
- Gross Revenues: $567,933 (100.0%)
Less: Cost of Goods Sold (COGS)
- Craftsmen Personnel Expenses: $188,026 (33.1%)
- Tools, Credit Card Fees, Permits: $13,154 (2.3%)
- Material, Trash, Equipment: $77,331 (13.6%)
- Royalties: $34,076 (6.0%)
- Total COGS: $312,588 (55.0%)
Gross Profit: $255,346 (45.0%)
Less: Other Expenses
- National Brand Fund: $11,359 (2.0%)
- Local Marketing: $38,192 (6.7%)
- Rent: $9,632 (1.7%)
- Software and Internet Fees: $5,988 (1.1%)
- Automobiles: $14,071 (2.5%)
- General and Administrative: $97,478 (17.2%)
- Total Expenses: $176,719 (31.1%)
Owner’s Discretionary Income: $78,626 (13.8%)
Part 2 – Multi-Territory Reporting Operators (30 Reporting Operators)
Income
- Labor Revenue: $648,797 (77.0%)
- Material Revenue: $119,951 (14.2%)
- Service Charge Revenue: $66,300 (7.9%)
- Trash, Rental, Etc. Revenue: $7,134 (0.8%)
- Gross Revenues: $842,182 (100.0%)
Less: Cost of Goods Sold (COGS)
- Craftsmen Personnel Expenses: $278,336 (33.0%)
- Tools, Credit Card Fees, Permits: $17,878 (2.1%)
- Material, Trash, Equipment: $97,742 (11.6%)
- Royalties: $50,531 (6.0%)
- Total COGS: $444,487 (52.8%)
Gross Profit: $397,695 (47.2%)
Less: Other Expenses
- National Brand Fund: $16,844 (2.0%)
- Local Marketing: $48,118 (5.7%)
- Rent: $14,560 (1.7%)
- Software and Internet Fees: $5,988 (0.7%)
- Automobiles: $22,855 (2.7%)
- General and Administrative: $143,658 (17.1%)
- Total Expenses: $252,023 (29.9%)
Owner’s Discretionary Income: $145,672 (17.3%)
- “Gross Revenues” means all revenue derived from the Reporting Operators’ Ace Handyman Services Businesses, excluding sales tax and discounts, in calendar year 2022.
- “Tools, Credit Card Fees, Permits” includes the costs for tools, credit card processing fees, and permits paid by the Reporting Operators in the calendar year 2022.
- “Materials, Trash, Equipment” includes the costs for all materials, trash removal/dump, and equipment rentals paid by the Reporting Operators in the calendar year 2022.
- “Total Cost of Goods Sold” was determined by adding the amounts shown for the Craftsmen Personnel Expenses, the Tools, Credit Card Fees, Permits, and the Materials, Trash, Equipment.
- “Gross Profit” was determined by subtracting the Total Cost of Goods Sold from the Gross Revenues.
- “General and Administrative” includes the costs for office personnel wages, payroll taxes, insurance, telephone, and internet paid by the Reporting Operators in the calendar year 2022.
- “Owner Discretionary Income” is determined by subtracting the total of the Expenses from Gross Profit. Owner Discretionary Income may include salaries paid to the Reporting Operator or its owner, distributions taken by the Reporting Operator or its owner, and personnel business expenses incurred by the Reporting Operator or its owner. It may not represent the Reporting Operator’s net profit.
- The information in the tables were prepared from data obtained from the unaudited reports submitted by the Reporting Operators shown in each table to Ace Handyman Services from their QuickBooks software for calendar year 2022. Ace Handyman Services has not audited these reports and cannot guarantee their accuracy.
- Some Ace Handyman Services Businesses have sold and earned these amounts. Your individual results may differ. There is no assurance that you will sell or earn as much.
Section VI – Ace Handyman Services Franchise Ratios, Comparables, Computations, and Analyses (Exclusive Content for Platinum Subscribers) ⬇️
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