In this exclusive Franchise Chatter FDD Talk post, you’ll learn the following:
Section I – Estimated initial investment (franchise costs) for an iFoam franchise, based on Item 7 of the company’s 2024 FDD
Section II – Initial franchise fee, royalty fee, and marketing fee for an iFoam franchise, based on Items 5 and 6 of the company’s 2024 FDD
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Section IV – News updates on the iFoam franchise opportunity
Section V – Presentation and analysis of iFoam’s financial performance representations (average revenues and/or profits), based on Item 19 of the company’s 2024 FDD, including information on the:
- 2023 actual and average total gross sales, commercial gross sales, residential gross sales, and home builder gross sales for the 8 iFoam franchisees, including the Founder Business, that were in operation for the entire 2023 calendar year
- 2023 actual and average total gross sales, gross sales achieved by jobs closed via organic sources, gross sales achieved by jobs closed via paid marketing for the 8 iFoam franchisees, including the Founder Business, that were in operation for the entire 2023 calendar year
- 2023 actual and average ticket for the 8 iFoam franchisees, including the Founder Business, that were in operation for the entire 2023 calendar year
- 2023 actual and average total gross sales by product lines (spray foam, blow in, other) for the 8 iFoam franchisees, including the Founder Business, that were in operation for the entire 2023 calendar year
Section VI – Key ratios, comparables, computations, and analyses for the iFoam franchise opportunity (exclusive content for Platinum subscribers)
Section I – iFoam Franchise Costs
- iFoam franchise costs, based on Item 7 of the company’s 2024 FDD:
- Initial Fee: $59,500
- Insurance (90 days): $10,000 to $15,000
- Tuition Fee: $4,995
- Travel and Living Expenses While Training: $1,500 to $3,500
- Opening Package: $28,255 to $38,255
- Rent and Utilities (90 days): $10,000 to $20,000
- Vehicles: $81,600 to $92,700
- Licenses, Certificates, and Permits: $0 to $5,000
- Professional Fees: $0 to $5,000
- Technology Fee: $2,375
- Call Center Fee: $1,125 to $3,225
- Dues and Subscriptions: $0 to $1,000
- Leasehold Improvements: $0 to $15,000
- Brand Marketing Fee: $15,000
- Initial Marketing Expenditure and Local Advertising Expenditure (90 days): $20,000
- Digital Management Fee: $3,000
- Accounting Services Fee: $2,109
- ZeePartnerships Fee: $3,000
- Additional Funds: $20,000 to $40,000
- Total Estimated iFoam Franchise Costs: $262,459 to $348,659
Section II – iFoam’s Initial Franchise Fee, Royalty Fee, and Marketing Fee
- iFoam’s initial franchise fee, royalty fee, and marketing fee, based on Items 5 and 6 of the company’s 2024 FDD:
- Initial Franchise Fee: $59,500
- Royalty Fee: the greater of: (i) 8.5% of Gross Revenues Collected; or (ii) the Minimum Royalty Fee (ranging from $275 to $375 per week for 1 territory, depending on number of years in operation)
- Brand Fund Contribution: if and when established, iFoam’s then-current Brand Fund Contribution amount, which shall not exceed 3% of weekly Gross Revenues Collected
- Local Advertising Expenditure Requirement: the greater of either: (i) $2,000 per month; or (ii) 5% of your monthly Gross Revenues Collected
Section III – Number of Franchised and Company-Owned iFoam Outlets
Franchised
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, 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: 2
- Net Change: 0
2022
- Outlets at the Start of the Year: 2
- Outlets at the End of the Year: 9
- Net Change: +7
2023
- Outlets at the Start of the Year: 9
- Outlets at the End of the Year: 35
- Net Change: +26
Company-Owned
2021
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
2022
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 1
- Net Change: +1
2023
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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.📈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: 1
- Outlets at the End of the Year: 1
- Net Change: 0
Section IV – News Updates on the iFoam Franchise
Section V – Financial Performance Representations (Average Revenues and/or Profits) for the iFoam Franchise (Item 19, 2024 FDD)
- As of January 1, 2023, there were 10 franchisees in operation. During the 2023 calendar year, 26 new franchisees commenced operations, two franchisees were terminated (the “Terminated Franchisees”). As of December 31, 2023, there were 36 franchisees in operation.
- iFoam excluded the Terminated Franchisees from the financial information presented in this Item 19, as these two terminated franchisees did not operate for the full 2023 calendar year.
- iFoam included the Franchisor Owned Outlet in the financial information presented in this Item 19. Eight of the 36 franchisees were in operation for the entire 2023 calendar year. This Item 19 discloses certain historical financial performance information for these eight franchisees (the “Item 19 Franchisees”).
- One of the Item 19 Franchisees is owned by iFoam’s Founder Jonathan Roll.
- This Item sets forth historical revenue information for the Item 19 Franchisees, including the Founder Business, during the 2023 calendar year. The Item 19 Franchisees provided iFoam with unaudited financial information for the 2023 calendar year. iFoam based the historical financial performance information presented in this Item 19 on this unaudited financial information and it did not audit or otherwise independently verify this information.
Part 1 – Total Gross Sales, Commercial Gross Sales, Residential Gross Sales, and Home Builder Gross Sales, During the 2023 Calendar Year as Reported to iFoam by the Item 19 Franchisees
Location 1 (Founder Business)
- Launch Date: Nov-21
- Territories: 2
- Total Gross Sales: $4,900,000
- Commercial Gross Sales: $980,000
- Residential Gross Sales: $1,225,000
- Home Builder Gross Sales: $2,695,000
Location 2
- Launch Date: Oct-22
- Territories: 5
- Total Gross Sales: $1,486,876
- Commercial Gross Sales: $47,832
- Residential Gross Sales: $1,085,827
- Home Builder Gross Sales: $353,217
Location 3
- Launch Date: Oct-22
- Territories: 4
- Total Gross Sales: $698,951
- Commercial Gross Sales: $164,898
- Residential Gross Sales: $218,903
- Home Builder Gross Sales: $315,151
Location 4
- Launch Date: Sep-22
- Territories: 3
- Total Gross Sales: $1,067,903
- Commercial Gross Sales: $74,891
- Residential Gross Sales: $897,654
- Home Builder Gross Sales: $95,358
Location 5
- Launch Date: Jun-22
- Territories: 5
- Total Gross Sales: $1,267,023
- Commercial Gross Sales: $968,326
- Residential Gross Sales: $59,729
- Home Builder Gross Sales: $238,968
Location 6
- Launch Date: Oct-22
- Territories: 4
- Total Gross Sales: $820,836
- Commercial Gross Sales: $164,539
- Residential Gross Sales: $174,091
- Home Builder Gross Sales: $482,207
Location 7
- Launch Date: Oct-22
- Territories: 3
- Total Gross Sales: $1,203,772
- Commercial Gross Sales: $71,064
- Residential Gross Sales: $690,763
- Home Builder Gross Sales: $441,944
Location 8
- Launch Date: Nov-22
- Territories: 3
- Total Gross Sales: $424,818
- Commercial Gross Sales: $161,152
- Residential Gross Sales: $60,366
- Home Builder Gross Sales: $203,300
Average
- Territories: 3.6
- Total Gross Sales: $1,483,772 (100.0%)
- Commercial Gross Sales: $329,088 (22.18%)
- Residential Gross Sales: $551,542 (37.17%)
- Home Builder Gross Sales: $603,143 (40.65%)
- “Total Gross Sales” is defined all revenue generated by the Item 19 Franchisees during the 2023 calendar year, as reported to iFoam by the Item 19 Franchisees. The term “Total Gross Sales” does not include (a) tips paid directly to subcontractors or other personnel, or (b) sales tax that is collected directly from customers and paid to the appropriate taxing authority.
- “Commercial Gross Sales” is defined as the total gross sales for commercial jobs performed during the 2023 calendar year, as reported to iFoam by the Item 19 Franchisees.
- “Residential Gross Sales” is defined as the total gross sales for residential jobs performed during the 2023 calendar year, as reported to iFoam by the Item 19 Franchisees.
- “Home Builder Gross Sales” is defined as the total gross sales for new construction jobs performed during the 2023 calendar year, as reported to iFoam by the Item 19 Franchisees.
- The Item 19 Franchisee identified as Location 1 in Parts 1, 2, 3, and 4 is the Founder Business, which is a mature business. The Founder Business operated a business substantially similar to the franchised business offered under the Disclosure Document in an area that would encompass approximately two Protected Territories with four crews.
Part 2 – Total Gross Sales Achieved by Jobs Closed via Organic and Paid Marketing, During the 2023 Calendar Year as Reported to iFoam by the Item 19 Franchisees
Location 1
- Territories: 2
- Total Gross Sales: $4,900,000
- Organic: $3,332,000
- Paid: $1,568,000
Location 2
- Territories: 5
- Total Gross Sales: $1,486,876
- Organic: $1,226,094
- Paid: $260,782
Location 3
- Territories: 4
- Total Gross Sales: $698,951
- Organic: $580,505
- Paid: $118,446
Location 4
- Territories: 3
- Total Gross Sales: $1,067,903
- Organic: $1,009,529
- Paid: $58,373
Location 5
- Territories: 5
- Total Gross Sales: $1,267,023
- Organic: $1,112,848
- Paid: $154,175
Location 6
- Territories: 4
- Total Gross Sales: $820,836
- Organic: $330,594
- Paid: $490,242
Location 7
- Territories: 3
- Total Gross Sales: $1,203,772
- Organic: $925,208
- Paid: $278,563
Location 8
- Territories: 3
- Total Gross Sales: $424,818
- Organic: $255,980
- Paid: $168,837
Average
- Territories: 3.6
- Total Gross Sales: $1,483,772 (100.0%)
- Organic: $1,096,595 (73.91%)
- Paid: $387,177 (26.09%)
- “Organic” is defined as the total revenue generated through organic marketing during the 2023 calendar year, as reported to iFoam by the Item 19 Franchisees.
- “Paid” is defined as the total revenue generated through paid marketing during the 2023 calendar year, as reported to iFoam by the Item 19 Franchisees.
Part 3 – Average Ticket Price, During the 2023 Calendar Year as Reported to iFoam by the Item 19 Franchisees
Location 1
- Territories: 2
- Average Ticket: $12,900
Location 2
- Territories: 5
- Average Ticket: $7,253
Location 3
- Territories: 4
- Average Ticket: $5,461
Location 4
- Territories: 3
- Average Ticket: $12,135
Location 5
- Territories: 5
- Average Ticket: $10,218
Location 6
- Territories: 4
- Average Ticket: $5,948
Location 7
- Territories: 3
- Average Ticket: $6,725
Location 8
- Territories: 3
- Average Ticket: $6,069
Average
- Territories: 3.6
- Average Ticket: $8,339
- “Average Ticket” is defined as the average dollars spent per transaction during the 2023 calendar year, as reported to iFoam by the Item 19 Franchisees.
Part 4 – Total Gross Sales by Product Lines During the 2023 Calendar Year as Reported to iFoam by the Item 19 Franchisees
Location 1
- Total Gross Sales: $4,900,000
- Spray Foam: $4,900,000
- Blow In: $ –
- Other: $ –
Location 2
- Total Gross Sales: $1,486,876
- Spray Foam: $1,207,794
- Blow In: $275,510
- Other: $3,572
Location 3
- Total Gross Sales: $698,951
- Spray Foam: $473,856
- Blow In: $100,152
- Other: $124,943
Location 4
- Total Gross Sales: $1,067,903
- Spray Foam: $999,906
- Blow In: $57,951
- Other: $10,045
Location 5
- Total Gross Sales: $1,267,023
- Spray Foam: $1,026,214
- Blow In: $130,088
- Other: $110,721
Location 6
- Total Gross Sales: $820,836
- Spray Foam: $708,998
- Blow In: $98,339
- Other: $13,500
Location 7
- Total Gross Sales: $1,203,772
- Spray Foam: $1,061,319
- Blow In: $122,431
- Other: $20,022
Location 8
- Total Gross Sales: $424,818
- Spray Foam: $364,993
- Blow In: $57,960
- Other: $1,864
Average
- Total Gross Sales: $1,483,772 (100.0%)
- Spray Foam: $1,342,885 (90.5%)
- Blow In: $105,304 (7.1%)
- Other: $35,584 (2.4%)
- “Product Line: Spray Foam” is defined as the total revenue generated by spray foam insulation jobs performed during the 2023 calendar year, as reported to iFoam by the Item 19 Franchisees.
- “Product Line: Blown In” is defined as the total revenue generated by blown-in blanket or cellulose insulation jobs performed during the 2023 calendar year, as reported to iFoam by the Item 19 Franchisees.
- “Product Line: Other” is defined as the total revenue generated by batt insulation, concrete leveling, and other jobs performed during the 2023 calendar year, as reported to iFoam by the Item 19 Franchisees.
- Some outlets have earned this amount. Your individual results may differ. There is no assurance you’ll earn as much.
Section VI – iFoam Franchise Ratios, Comparables, Computations, and Analyses (Exclusive Content for Platinum Subscribers) ⬇️
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