Commonly Asked Questions Answered Here
The Tailored Closet Franchise FAQ Guide
We know you may have a lot of questions about franchising with us, or franchising in general, so our Chief Development Officer, Jonathan Theissen, created the following video to address the most FAQs we get from prospective franchise owners. We invite you to watch the video, or you can also read some of our most frequently asked questions listed below. If you don’t find what you need, just contact one of our Franchise Consultants.
Do I have to be a handyman or a designer to own this franchise?
No related industry experience is required. The Tailored Closet opportunity s a true management-focused business model with immense potential and growth. If you are able to use a laptop, we will be able to teach you how to design using our software system. And most of our franchise owners start by hiring an installer if they don’t want to ever pick up a drill, however installation is not difficult to learn. Most franchisees prefer to start with a designer/sales consultant, and one or two installers so they can spend their time managing their teams and running your business versus doing the physical work.
What type of background do I need to be an ideal franchisee?
The Tailored Closet’s franchise owners come from all backgrounds and have different work experience. Ideal candidates are typically goal-oriented people, who are good at managing projects and people, but more so, they have an entrepreneurial spirit and a desire to succeed. Franchise owners should be comfortable or willing to hire and manage employees so that they can focus on running the business.
How many employees does it take to run the business?
Franchise owners may choose to involved in several aspects of the business, however, they should hire employees including sales consultants, designers, and installers when starting their business. Franchisees may start in a home office, or rent a small office, along with a small warehouse space. As their business grows, they move into a larger office, showroom, or retail space/larger warehouse. As the staff grows the owner tends to focus mainly on management and marketing/lead generation. The majority of our franchisees do not do everything themselves. As reported in a recent survey, 38% of our franchisees have 5 or more employees to help run the business.
How is a Tailored Closet franchise territory defined?
Each Tailored Closet franchise territory consists of approximately 75,000 households, minimum, defined by zip/postal codes. Most territories are over 100,000 households. And these territories are protected, meaning there will only be one Tailored Closet franchise per territory.
What type of training will I receive?
The Tailored Closet provides 3-weeks of start-up training, consisting of classroom learning, and hands-on training at our Experience Center in Dallas, Texas. From there, you will be given a year (minimum) of outside P&L/business coaching by an outside CPA firm paid for by the Franchisor.
Does The Tailored Closet offer any on-going support after I open my business?
Our franchise support system is made up of a team with a combined 60-years of industry experience. Franchise support begins immediately after completion of the training program and includes help from your Regional Operations Manager and design team. Webinars, regional meetings, and an annual convention will also provide you with resources, continuing education, and networking opportunities along the way.
What are The Tailored Closet's competitive advantages?
- Our proprietary 3D design software allows your clients to actually "see" the product before they make a purchase.
- Consumers consider us a one-stop-shop where they can purchase organization solutions for their whole home, or business, from just one company.
- We provide clients with shop-from-home convenience that saves them time money.
- We offer exclusive brands and high-quality products to provide custom spaces that produce beautiful results.
- Our franchise owners have the advantage of being a local business with national support, which builds consumer confidence.
- Our competitive pricing makes The Tailored Closet available to every homeowner and business owner.
- Your installers are trained to provide white-glove installation services that consumers don't want to do themselves.
- We offer excellent lifetime warranties on our product and work to give consumers peace-of-mind.
- We train our franchise owners to provide dependable customer service that translates to customer satisfaction and repeat business.
Who is a Tailored Closet customer?
- The Tailored Closet's residential demographic includes homeowners, small, local business owners, and even renters, who need organizational solutions to de-clutter and keep them organization. Our franchise owners are trained to solve problems with custom organizational solutions for the whole home.
- The Tailored Closet also attracts commercial clientele who rely on our expertise and custom services for increasing storage space, maximizing work space, and improving overall organization for their businesses.
Is The Tailored Closet considered a “want to have” vs. “need to have” product?
Not necessarily, as the reality is, most homeowners don't have the ability to buy "more" house as their needs change, so they must get more organized in their current space. And, as the population ages, and the need to downsize occurs, custom organization solutions become more important in order to fit belongings in smaller homes. The organizational sector in home improvement is one of the fastest-growing areas as people realize the mental and physical advantages of being more organized. They are basically adding value to their homes in the same way a kitchen remodel would add value.
What is the initial investment for a Tailored Closet Franchise?
The Tailored Closet initial franchise fee is $74,950. You will also need approximately $105,000 in working capital for tools, equipment, marketing and more. Refer to the Tailored Closet Franchise Disclosure Document for details.