Top Home Remodeling Franchise to Own in Michigan

The top home remodeling franchise to own in Michigan are:

1. Fresh Coat
2. Bath Tune-Up
3. The Tailored Closet
4. Cabinet IQ
5. Screen Mobile
6. Floor Coverings International

The realm of home remodeling is a journey towards creating dream homes and functional living areas. This developing industry opens doors for entrepreneurs who are eager to start a business venture that blends creativity, customer service, and technical expertise. For people in Michigan contemplating entering this vibrant market, owning a home remodeling franchise presents an opportunity filled with potential.

We’ll explore the top home remodeling franchises available today, diving into each one’s unique offerings, investment requirements, and growth potential. This guide aims to provide you with the essential information to help you make a well-informed decision in choosing a franchise that aligns with your entrepreneurial vision and market needs.

Fresh Coat

Fresh Coat, established in 2004, stands out as a notable player in the home remodeling franchise sector, specializing in painting services. Since franchising in 2005, it has expanded significantly to over 170 outlets, showcasing its success and popularity.

Franchise Dynamics:

• Investment and Cost Structure: With an initial investment ranging from $66,150 to $96,250 and a franchise fee of $44,900, Fresh Coat positions itself as a relatively low-investment opportunity in the remodeling industry. A liquidity requirement of $50,000 is also in place.
• Diverse Service Portfolio: The company offers a broad spectrum of painting services catering to both residential and commercial clients. Its service lineup extends beyond mere wall painting, encompassing fence painting, ceiling removal, and power washing, among others.
• Training and Support System: Fresh Coat is committed to supporting its franchisees right from the start. They offer comprehensive training and marketing assistance to help new franchise owners get up and running successfully within three to six months of application.
• Growth Potential: The brand’s focus on low investment and overhead, coupled with unlimited growth potential, makes it an attractive option for entrepreneurs looking to tap into the home remodeling market.

Bath Tune-Up

Bath Tune-Up emerges as a specialized franchise in the home improvement industry, specifically catering to kitchen remodeling. It stands under the umbrella of Home Franchise Concepts (HFC), a significant entity in the world of home service franchising.

Franchise Essentials:

• Investment and Financials: Bath Tune-Up requires a substantial investment, ranging between $104,930 and $158,850. The franchise fee is set at $64,950, with a liquidity requirement of $68,930.
• Services and Market Niche: Focusing exclusively on kitchen remodeling, Bath Tune-Up addresses a specific, high-demand segment of the home remodeling market. This specialization is a key differentiator, appealing to entrepreneurs looking to carve out a niche in the competitive home improvement arena.
• Support for Franchisees: The franchisor offers up to $36,000 in financing for qualified candidates, making it more accessible for prospective owners. Additionally, veterans can benefit from a 15% discount off the franchise fee. Franchisees receive a comprehensive 4-week pre-training online course, followed by a 9-day training program, ensuring a robust foundation for business success.

The Tailored Closet

The Tailored Closet is recognized for its full-service home improvement solutions, gaining notable traction across North America with nearly 200 territories. It has been lauded in Entrepreneur magazine’s top 100 global franchise list, reflecting its market impact and franchise appeal.

Franchise Overview:

• Investment Details: The initial investment for The Tailored Closet franchise is up to $155,220. The franchise fee is $74,950, with a liquidity requirement of $111,220. The royalty fee ranges from 4% to 7%.
• Flexible Business Model: Ideal for those seeking a flexible work schedule, The Tailored Closet allows franchisees to operate according to their own timelines, providing a balanced approach to business ownership.
• Exclusive Territory and Support: The franchise offers territory protection, ensuring no overlap with other franchisees’ service areas. For veterans, there’s an attractive offer of 15% off the franchise fee. Additionally, the franchisor provides in-house financing, further enhancing the accessibility and appeal of this franchise opportunity.

Cabinet IQ

Cabinet IQ offers a compelling franchise opportunity within the kitchen and bath remodeling sector, combining expertise in cabinet design with innovative remodeling solutions.

Franchise Highlights:

• Investment and Costs: Prospective franchisees should anticipate an initial investment ranging from $189,450 to $288,800. The franchise fee is $59,500, which is included in the initial investment. The royalty fee stands at 6%.
• Eligibility and Support: Cabinet IQ sets eligibility criteria, including a minimum net worth of $100,000 and a credit score of 700. This is to ensure that franchisees are well-positioned to successfully manage and grow their business.
• Veteran Discounts: The franchise notably offers a 20% discount on the initial franchise fee to eligible veterans, enhancing its attractiveness to a broader range of potential investors.
• Ongoing Training and Marketing Programs: Cabinet IQ supports its franchisees through industry-leading marketing programs and regular training sessions, ensuring they are equipped with the knowledge and tools needed for success in the home improvement market.

Screen Mobile

Screen Mobile stands out in the home remodeling franchise world with its unique focus on screen repair and installation services for patios, porches, and windows.

Franchise Essentials:

• Investment Requirements: The initial investment for a Screen Mobile franchise ranges from $165,700 to $226,700. The franchise fee is set at $49,500.
• Veteran Incentives: The franchisor provides a $3,500 discount on the franchise fee to eligible veterans, making it an appealing opportunity for those with military backgrounds.
• Business Model and Support: Screen Mobile offers a low-investment business model without the need for a brick-and-mortar office. Instead, franchisees are equipped with a truck filled with necessary tools. Additionally, franchisees benefit from a comprehensive 10-day training program and ongoing support, ensuring a smooth setup and operation of their business.

Floor Coverings International

Floor Coverings International is renowned as the largest flooring franchise in the U.S. and Canada, specializing in a wide range of flooring solutions including laminates.

Franchise Details:

• Investment and Fees: Potential franchisees can expect an initial investment between $154,400 and $341,000, with a franchise fee of $90,000 and a royalty fee of 5%.
• Revenue Potential: The franchise boasts an impressive annual gross revenue of $1,180,809, indicating its lucrative nature in the home remodeling industry.
• Training and Support: Floor Coverings International provides an extensive six-week pre-training, followed by a 5-day plus 90-day HQ training, along with on-the-job support. This comprehensive training program is designed to equip franchisees with all the necessary skills to successfully operate their business.

How Much Does a Home Remodeling Franchise Owner Make?

The income of a home remodeling franchise owner can vary significantly based on several factors, including the specific franchise, location, market demand, business management, and the range of services offered. Here are some key considerations:

1. Type of Franchise: Different franchises in the home remodeling sector have varying business models. For instance, a franchise focusing on high-end kitchen and bath remodels like Cabinet IQ might have different income potential compared to a franchise like Screen Mobile that specializes in screen repair and installation services.
2. Location and Market Demand: The geographical location of the franchise greatly impacts income potential. Areas with higher real estate values and demand for home improvement services typically offer greater revenue opportunities.
3. Management and Operational Efficiency: The owner’s ability to manage the business efficiently, control costs, maintain high service quality, and effectively market the services can significantly influence profitability.
4. Range of Services Offered: Franchises that offer a wider array of services or cater to niche markets may have higher earning potential. For instance, Floor Coverings International’s focus on diverse flooring solutions might tap into a broader market compared to more specialized services.
5. Local Competition: The level of competition in the area can impact pricing and, consequently, profitability.
6. Economic Factors: Broader economic conditions, trends in the housing market, and consumer spending on home improvements also play a crucial role in determining a franchise owner’s earnings.
7. Franchise Support: The level of support provided by the franchisor in terms of training, marketing, and operational guidance can also contribute to a franchisee’s success and income.

Given these variables, it’s important for prospective franchise owners to conduct thorough research, including reviewing the Franchise Disclosure Document (FDD) for specific franchises, consulting with existing franchisees, and analyzing local market conditions to get a realistic understanding of potential earnings.