Home Services Franchise: Bloomin Blinds (2021 FDD Review)
Written by: Patrick Findaro
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Source Based on Business Listings, Vetted Biz requires Businesses for Sale to share financial information on sales and earnings through credible sources, including but not…: 2020 Bloomin’ Blinds Franchise A franchise is when a business (franchisor) allows a party (franchisee) to acquire its know-how, procedures, processes, trademarks, intellectual property, use of its business… Disclosure Document (FDD)
What is Bloomin’ Blinds?
Bloomin’ Blinds sells, installs and repairs window blinds, shades and shutters. The company targets primarily residential customers as their main revenue driver.
Kelsey Stuart is the Chief Executive Officer. He has been the CEO of Bloomin’ Blinds in Lewisville, Texas since June 2002. He ran the company as a family-owned business and in 2014 he decided to start franchising his business model.
There are currently 51 franchisees across the United States. Eleven of these franchisees own multiple territories, while the rest own single territories.
Initial Franchise Fee Is a fee that franchisees pay to franchisors when signing an agreement, for establishing a franchise relationship, and getting some initial services. It is…
$40,000-
-There is a discount of up to $7,500 for qualified veterans-
If you purchase an additional territory it costs $10,000 less than the then-current initial franchise fee.
Example:
Territory 1 Initial Fee: $40,000
Territory 2 Initial Fee: $30,000
Financing Option Available
| Maximum Amount Financed | $15,000 |
| Down Payment | $33,500 |
| Term | Up to 50 months |
| Interest A payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum, at… Rate | 0% |
| Prepayment Penalty | None |
| Security Required | Personal Guaranty By All Owners and Security Agreement |
| Liability on Default | Full amount of remaining principal, plus costs of collection, including attorney fees |
| Other Default consequences | Termination of Franchise Agreement |
Bloomin’ Blinds Franchise Cost
The total investment necessary to begin operation of a Bloomin’ Blinds franchise is $38,495 to $117,425.
Your franchise agreement will specify a territory, which will have a population of approximately 250,000 to 350,000 people.
Additional Cost Breakdown:
Below is a list of the costs that factor in the range of startup The term startup refers to a company in the first stages of operations. Startups are founded by one or more entrepreneurs who want to… costs from $38,495 to $117,425
.
| Initial Franchise Fee | $25,000 – $40,000 |
| Start-Up Expense Fee | $0 – $8,500 |
| Market Introduction Program | $0 – $1,000 |
| Furniture, Fixtures, Equipment | $0 – $500 |
| Computer Systems | $195 – $1,5000 |
| Insurance | $300 – $3,000 |
| Vehicle | $700 – $35,000 |
| Vehicle Signage | $0 – $2,200 |
| Office Expenses | $1,000 – $2,000 |
| Inventory The value of the total finished and unfinished goods and materials the business holds for future sale. | $0 |
| Licenses and Permits | $200 – $500 |
| Professional Fees Professional fees are revenues or expenses of services from people specially trained in specific fields of arts and sciences. eg as doctors, architects, lawyers,… (Lawyers, Accountants) | $400 – $1,500 |
| Uniforms | $0 -$225 |
| Travel & Meals for initial training | $700 – $1,500 |
| Additional Funds AFN = Projected increase in assets spontaneous increase in liabilities any increase in retained earnings Known as AFN or additional funds needed It is… (for first 3 months) |
Ongoing Franchise Costs and Fees:
Royalty: 6% of your Gross Revenue monthly (except that the royalty fee for sales The total amount in dollars made in the business before expenses are deducted. See also Gross Revenue. of plantation shutters is 3%) –
-Maximum of $6,000 per month per territory; after year 1, minimum of $500 per month-
Local Advertising & Marketing Payment
Local Advertising Requirement: 2% of gross sales or $1,000 per month (whichever is greater)
Marketing Fund Contribution: 2% of gross sales or $300 per month (whichever is greater).
Internet marketing: $350 per month (not counted towards local advertising requirement)
Software Subscription: $300 per month
Bloomin’ Blinds Sales Figures:
The following tables show the historical reported average, median, low and high annual fiscal year 2019 Gross Revenue The total amount in dollars made in the business before expenses are deducted. See also Sales. for the 33 franchisees who operated a total number of 45 units in the United States that were open and operating for the entire.
Table 1 contains information only from those 26 franchisees who owned only one territory for the Reporting Period.
| Gross Revenue | Number of Sample that Achieved or Surpassed Stated Result | Percent of Sample that Achieved or Surpassed Stated Result | |
|---|---|---|---|
| Median | 199,323.12 | 13 | 50% |
| Average | 227,9 | 9 | 34.62% |
| Highest | 1,216,944.25 | 1 | 3.85% |
| Lowest | 49,923.55 | 26 | 100% |
Table 2 contains information only from those 7 franchisees who owned multiple territories that maintain common records for the Reporting Period.
| Gross Revenue | Number of Sample that Achieved or Surpassed Stated Result | Percent of Sample that Achieved or Surpassed Stated Result | |
|---|---|---|---|
| Median | 365,322.52 | 4 | 57.14% |
| Average | 400,703.70 | 3 | 42.86% |
| Highest | 883,544.41 | 1 | 14.29% |
| Lowest | 161,167.63 | 7 | 100% |
Competition:
You will compete against other businesses that offer in-home consultation and estimates for window covering sales and repairs. These competitors vary from small local operations to large national chains.
Conclusion:
If you are looking to solve problems and interact with customers daily with a great support center from the franchisor, Bloomin’ Blinds could be the business for you!
While this may be the business for you, make sure to also check out other businesses offered on Vetted Bizz and in the Home Services industry.
