Home Docs Franchise Prices, Charges, Revenues, Earnings (2023 Evaluate)

On this unique Franchise Chatter FDD Discuss put up, you’ll study the next:

Part I – Estimated preliminary funding (franchise prices) for a Home Docs franchise, primarily based on Merchandise 7 of the corporate’s 2023 FDD

Part II – Preliminary franchise payment, royalty payment, and advertising payment for a Home Docs franchise, primarily based on Gadgets 5 and 6 of the corporate’s 2023 FDD

Part III – Variety of franchised and company-owned Home Docs retailers firstly of the yr and the tip of the yr for 2020, 2021, and 2022, primarily based on Merchandise 20 of the corporate’s 2023 FDD

Part IV – Information updates on the Home Docs franchise alternative

Part V – Presentation and evaluation of Home Docs’ monetary efficiency representations (common revenues and/or income), primarily based on Merchandise 19 of the corporate’s 2023 FDD, together with data on the:

• 2022 whole, common, median, highest, and lowest product sales for the highest quartile, median, backside quartile, and all 18 Home Docs franchised companies that responded to the franchisor’s survey and reported product sales for all 12 months in 2022

• 2022 common materials price, direct labor price, advertising spend, service provider charges, and oblique labor (all as a proportion of product sales) for the 18 Home Docs franchised companies that responded to the franchisor’s survey and reported key efficiency metrics for all 12 months in 2022

Part VI – Key ratios, comparables, computations, and analyses for the Home Docs franchise alternative (unique content material for Platinum subscribers)

Part I – Home Docs Franchise Prices

• Franchise Payment:  $65,000
• Automobile:  $1,500 to $5,000
• Actual Property and/or Leasehold Enhancements:  $0 to $3,000
• Tools and Provides:  $1,250 to $4,500
• Insurance coverage:  $2,000 to $5,000
• Signage:  $3,000 to $4,000
• Know-how Payment:  $5,000
• Grand Opening:  $2,500 to $5,000
• Coaching Bills:  $2,000 to $4,000
• Licenses/Bonds:  $100 to $1,500
• Skilled Charges:  $1,500 to $3,000
• Extra Funds (3 months):  $17,500 to $40,000
• Complete Estimated Home Docs Franchise Prices:  $101,350 to $145,000

Part II – Home Docs’ Preliminary Franchise Payment, Royalty Payment, and Advertising and marketing Payment

• Franchise Payment:  $65,000
• Royalty:  6% of Gross Gross sales; $150 per week, minimal
• Advertising and marketing Fund:  2% of Gross Gross sales
• Promoting Cooperative Payment:  as much as higher of $10,000 or 2% of Gross Gross sales per yr

Part III – Variety of Franchised and Firm-Owned Home Docs Retailers

Franchised

2020

• Retailers on the Begin of the Yr:  34
• Retailers on the Finish of the Yr:  37
• Web Change:  +3

2021

• Retailers on the Begin of the Yr:  37
• Retailers on the Finish of the Yr:  40
• Web Change:  +3

2022

• Retailers on the Begin of the Yr:  40
• Retailers on the Finish of the Yr:  46
• Web Change:  +6

Firm-Owned

2020

• Retailers on the Begin of the Yr:  0
• Retailers on the Finish of the Yr:  0
• Web Change:  0

2021

• Retailers on the Begin of the Yr:  0
• Retailers on the Finish of the Yr:  0
• Web Change:  0

2022

• Retailers on the Begin of the Yr:  0
• Retailers on the Finish of the Yr:  0
• Web Change:  0

Part IV – Information Updates on the Home Docs Franchise

Part V – Monetary Efficiency Representations (Common Revenues and/or Earnings) for the Home Docs Franchise (Merchandise 19, 2023 FDD)

• In January 2023, a survey was despatched to all energetic Franchisees who had operated and reported Gross Gross sales for not less than 12 months within the system, which requested key efficiency metrics, reminiscent of Gross Gross sales, labor prices, advertising prices, and supplies prices.

• The info introduced on this Merchandise 19 is consultant of the 18 responses that have been offered, which symbolize 78.26% of all energetic Franchised Companies (23). 4 Franchised Companies started operations in 2022, however didn’t function for the total 12 months of 2022.

• “Gross Gross sales” means the full of all monies and receipts you derive in reference to the Enterprise. Gross Gross sales doesn’t embody (i) promotional allowances or rebates paid to Franchisee in reference to its buy of merchandise or provides; (ii) gross sales, use, retailers’ or different taxes measured on the premise of the gross revenues of the Enterprise imposed by governmental authorities instantly on gross sales or use and picked up from prospects, if the taxes are added to the promoting worth of your items and providers and are in truth paid by you to the suitable governmental authorities; or (iii) the worth of any coupons duly issued and accepted by you, or any bona fide reductions or buyer refunds accepted by Home Docs.

Half 1 – Assertion of Gross Gross sales Per Franchised Enterprise Throughout the 2022 Fiscal Yr

High Quartile

• Complete Gross Gross sales:  $5,793,173.53
• Common Gross Gross sales:  $1,448,293.38
• Excessive Gross Gross sales:  $2,072,405.59
• Low Gross Gross sales:  $1,015,246.26
• Variety of Franchised Companies:  4

Median

• Complete Gross Gross sales:  $4,949,311.25
• Common Gross Gross sales:  $494,931.12
• Excessive Gross Gross sales:  $1,009,784.11
• Low Gross Gross sales:  $323,604.89
• Variety of Franchised Companies:  10

Backside Quartile

• Complete Gross Gross sales:  $942,688.16
• Common Gross Gross sales:  $235,672.04
• Excessive Gross Gross sales:  $316,463.96
• Low Gross Gross sales:  $157,644.41
• Variety of Franchised Companies:  4

Complete

• Complete Gross Gross sales:  $10,418,879.89
• Common Gross Gross sales:  $621,366.48
• Excessive Gross Gross sales:  $2,072,405.59
• Low Gross Gross sales:  $157,644.41
• Variety of Franchised Companies:  18

• These numbers are consultant of franchised Companies that responded to the survey and reported all 12 months in 2022.

• All knowledge pulled from franchisee-submitted stories and assumed to be correct.

Half 2 – Extra Efficiency Survey Outcomes of the 18 Franchised Companies Detailed in Half 1

• Supplies Price as a proportion of Gross Gross sales:  29.30%
• Direct Labor Price as a proportion of Gross Gross sales:  27.40%
• Advertising and marketing Spend as a proportion of Gross Gross sales:  5.00%
• Service provider Charges as a proportion of Gross Gross sales:  0.90%
• Oblique Labor as a proportion of Gross Gross sales:  17.30%

• These numbers are consultant of franchised Companies that responded to the survey and reported all 12 months in 2022.

• All knowledge pulled from survey response knowledge and assumed to be correct

• This data has not been individually audited or verified by an impartial licensed public accountant, and it might not have been ready on a foundation in line with typically accepted accounting rules.

• Some retailers have bought this quantity. Your particular person outcomes could differ. There isn’t any assurance that you simply’ll promote as a lot.

Part VI – Home Docs Franchise Ratios, Comparables, Computations, and Analyses (Unique Content material for Platinum Subscribers) ⬇️