In this exclusive Franchise Chatter FDD Talk post, you’ll learn the following:
Section I – Estimated initial investment (franchise costs) for a Grout Medic franchise, based on Item 7 of the company’s 2024 FDD
Section II – Initial franchise fee, royalty fee, and marketing fee for a Grout Medic franchise, based on Items 5 and 6 of the company’s 2024 FDD
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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. A franchise specialist will be in touch to present what's available.Section III – Number of franchised and company-owned Grout Medic outlets at the start of the year and the end of the year for 2021, 2022, and 2023, based on Item 20 of the company’s 2024 FDD
Section IV – News updates on the Grout Medic franchise opportunity
Section V – Presentation and analysis of Grout Medic’s financial performance representations (average revenues and/or profits), based on Item 19 of the company’s 2024 FDD, including information on the:
- 2023 average and median gross sales per franchised business and per franchisee for the 29 Grout Medic franchisees and their 53 franchised businesses open and operating the entire fiscal year by the same franchisee
- 2023 average, median, highest, and lowest gross sales per franchisee for the top quartile, median 50%, and bottom quartile of the 29 Grout Medic franchisees and their 53 franchised businesses open and operating the entire fiscal year by the same franchisee
- 2023 average job size for all jobs that were submitted through Grout Medic’s CRM by the 29 Grout Medic franchisees and their 53 franchised businesses open and operating the entire fiscal year by the same franchisee
- 2023 percentage of gross sales by service type (grout clean & seal, recaulk, regrout, tile repair & replacement, water damage repair, and non-core services) for all jobs that were submitted through Grout Medic’s CRM by the 29 Grout Medic franchisees and their 53 franchised businesses open and operating the entire fiscal year by the same franchisee
Section VI – Key ratios, comparables, computations, and analyses for the Grout Medic franchise opportunity (exclusive content for Platinum subscribers)
Section I – Grout Medic Franchise Costs
- Grout Medic franchise costs, based on Item 7 of the company’s 2024 FDD:
- Initial Franchise Fee: $65,000
- Equipment Start-Up Package: $5,000 to $10,000
- Travel and Living Expenses: $1,000 to $2,000
- Real Estate: not applicable
- Vehicle Decoration: $500 to $2,000
- Insurance: $500 to $1,500
- Legal: $0 to $1,000
- Opening Inventory: $0 to $500
- Technology Fee: $5,000
- Grand Opening: $5,000
- Computer Equipment and Software: $0 to $1,500
- Bookkeeping: $0 to $500
- Employees’ Payroll: $0 to $11,000
- Additional Funds (3-Month Initial Phase): $10,000 to $20,000
- Total Estimated Grout Medic Franchise Costs: $97,000 to $130,000
Section II – Grout Medic’s Initial Franchise Fee, Royalty Fee, and Marketing Fee
- Grout Medic’s initial franchise fee, royalty fee, and marketing fee, based on Items 5 and 6 of the company’s 2024 FDD:
- Initial Franchise Fee: $65,000
- Royalty: 6% of Gross Sales; $150 per week, minimum
- Marketing Fund: the greater of 2% of Gross Sales per week or $50 per week
- Advertising Cooperative Fee: up to $10,000 or 2% of Gross Sales per year, whichever is greater
Section III – Number of Franchised and Company-Owned Grout Medic 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
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.- Outlets at the Start of the Year: 56
- Outlets at the End of the Year: 68
- Net Change: +12
2022
- Outlets at the Start of the Year: 68
- Outlets at the End of the Year: 59
- Net Change: -9
2023
- Outlets at the Start of the Year: 59
- Outlets at the End of the Year: 61
- Net Change: +2
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: 0
- Net Change: 0
2023
🎯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: 0
- Outlets at the End of the Year: 0
- Net Change: 0
Section IV – News Updates on the Grout Medic Franchise
Section V – Financial Performance Representations (Average Revenues and/or Profits) for the Grout Medic Franchise (Item 19, 2024 FDD)
- During Grout Medic’s 2023 fiscal year, it had 53 total Franchised Businesses open and operating the entire fiscal year by the same franchisee. These 53 Franchised Businesses were operated by a total of 29 franchisees.
- These 29 franchisees and their 53 Franchised Businesses reported Gross Sales totaling $13,155,813 during Grout Medic’s 2023 fiscal year in connection with their calculation and payment of Royalties.
- Gross Sales is defined in this analysis as it is in the Franchise Agreement.
- This analysis excludes 7 Franchisees operating 10 Franchised Businesses that either (1) were not open the entire fiscal year because they either began operating or ceased operating during Grout Medic’s 2023 fiscal year or (2) are not currently using Grout Medic’s customer relationship manager software (CRM) in a manner for Grout Medic to collect and disclose the below financial performance information.
Part 1 – 2023 Fiscal Year Consolidated Average and Median Gross Sales by Franchised Business and by Franchisee for the 29 Franchisees and Their 53 Franchised Businesses
- Total Gross Sales Reported (29 Franchisees/53 Franchised Businesses): $13,155,813
- Number of Franchised Businesses: 53
- Average Gross Sales Per Franchised Business: $248,222.89
- Median Gross Sales Per Franchised Business: $159,704
- Number of Franchisees: 29
- Average Gross Sales Per Franchisee: $453,648.72
- Median Gross Sales Per Franchisee: $218,904
Part 2 – 2023 Fiscal Year Average and Median Gross Sales by Franchisee and by Quartiles for the 29 Franchisees and Their 53 Franchised Businesses
Top Quartile
- Average Gross Sales: $1,145,478
- High Gross Sales: $2,326,164
- Low Gross Sales: $690,556
- Median Gross Sales: $973,961
- Number of Franchisees: 8
- Number of Franchised Businesses: 19
Median 50%
- Average Gross Sales: $244,615
- High Gross Sales: $544,193
- Low Gross Sales: $154,609
- Median Gross Sales: $217,129
- Number of Franchisees: 14
- Number of Franchised Businesses: 27
Bottom Quartile
- Average Gross Sales: $101,954
- High Gross Sales: $134,601
- Low Gross Sales: $45,373
- Median Gross Sales: $120,697
- Number of Franchisees: 7
- Number of Franchised Businesses: 8
Part 3 – 2023 Fiscal Year Average Job Size for All Jobs That Were Submitted Through Grout Medic’s Customer Relationship Manager Software (CRM) by the 29 Franchisees and Their 53 Franchised Businesses
- Average Job Size: $823
- Jobs in this Part 3 reflect 66.7% of the total $13,155,813 reported by the 29 franchisees and their 53 Franchised Businesses during Grout Medic’s 2023 fiscal year. Certain of Grout Medic’s franchisees are not currently using its CRM to submit Average Job Size and therefore Grout Medic does not have reliable Average Job Size information for those franchisees.
Part 4 – 2023 Fiscal Year Percentage of Gross Sales by Service Type for All Jobs That Were Submitted Through Grout Medic’s Customer Relationship Manager Software (CRM) by the 29 Franchisees and Their 53 Franchised Businesses
- Service types are described in 6 distinguishable service offerings: Grout Clean & Seal, Recaulk, Regrout, Tile Repair & Replacement, Water Damage Repair, and Non-Core Services. Non-core jobs are inclusive of a variety of things to improve cosmetic and function of bathroom area.
Service Type
- Grout Clean and Seal: 39.6%
- Recaulk: 24.0%
- Regrout: 21.0%
- Tile Repair and Replacement: 12.7%
- Water Damage Repair: 1.5%
- Non-Core Service: 1.2%
- Some outlets have sold this amount. Your individual results may differ. There is no assurance that you’ll sell as much.
Section VI – Grout Medic Franchise Ratios, Comparables, Computations, and Analyses (Exclusive Content for Platinum Subscribers) ⬇️
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