Lapels provides environmentally friendly dry cleaning, laundry, tailoring, shoe repair, and related services through full-service plants and satellite locations. The franchise offers pickup and delivery options.
Key Insights
- Lapels Dry Cleaning has established itself as a significant player in the garment care sector, growing from its origins to become a recognized name across numerous markets. The business focuses on providing a comprehensive range of cleaning services, ensuring customer satisfaction through efficient operations and attention to detail in garment handling.
- The franchise operates on a model designed for streamlined service delivery, combining advanced cleaning technologies with a customer-centric approach. This operational framework allows for consistent quality and reliability, a core element in building and maintaining a loyal customer base within the garment care industry.
- The garment care industry is characterized by a steady demand for specialized cleaning services, driven by the need to preserve the quality and longevity of apparel. Lapels operates within this dynamic market, adapting its services to meet evolving consumer preferences and industry standards.
Franchise Fee and Costs to Open
Exploring the financial picture of Lapels gives insight into both the upfront commitment and the potential revenue opportunity. According to FDD Item 7, opening this franchise typically involves an investment in the range of $426,748 - $777,300, along with a franchise fee of $60,000 - $60,000.
Financial Performance and Revenue
Yearly gross sales of $404,844 and estimated earnings of $56,679 - $72,872 show the potential financial performance of this franchise. These figures are crucial for prospective franchisees as they help to project revenue and profitability. They offer insight into the business's ability to generate income and can be used to compare its performance against other investment opportunities. The Franchise Payback Period of 9.8-11.8 provides an estimation of the time it might take for an owner to recover their initial investment. This metric is a key consideration for anyone evaluating the financial viability of a franchise, as it relates directly to the speed at which the business can become profitable. A shorter payback period can indicate a faster return on capital, which is a significant factor in making an informed decision about a franchise investment.
Training and Resources
Lapels provides comprehensive training for new franchisees. This initial training program lasts for two weeks and takes place at the Lapels corporate training facility. The curriculum covers all essential aspects of operating a Lapels dry cleaning business. Lapels offers ongoing support and resources to help franchisees succeed.
Legal Considerations
Legal considerations for a Lapels franchisee are outlined in the Franchise Disclosure Document (FDD) and the Franchise Agreement. Note that this franchise discloses lawsuits and/or bankruptcy information in its FDD, which may impact your evaluation. Subscribe now to access more details and be sure to consult a qualified attorney before proceeding.
Challenges and Risks
A franchisee may encounter considerations with local market dynamics, including established competitors offering similar services. The operational complexity of managing staff, customer service, and garment care requires attention. Additionally, reliance on specific suppliers for cleaning chemicals and equipment could present challenges if availability or pricing fluctuates.
Franchise Datasheet
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