Top 250 Franchise by Entrepreneur – Rank no.61 – Novus Glass – US
Products & Services: Auto glass repair & replacement
Number of Locations: 1,625
Total Investment: $31.56K – 134.78K
Began Franchising: 1985
About Novus Glass
After having to replace three windshields due to small breaks, inventor Dr. Frank Werner teamed up with chemical engineer Bill Wiele to find a way to repair windshields rather than replacing them. In 1972, Werner partnered with Gerald Keinath, patented his windshield repair system, and designed a business plan to bring it to market. The business, originally called Keinath Inc., was soon renamed Novus (Latin for “new”), and began franchising in 1985.
Startup Costs, Ongoing Fees and Financing
Franchise Fee: $12,995
Ongoing Royalty Fee: 8%
Term of Franchise Agreement: 10 years, renewable
Net Worth: $50,000
Liquid Cash Available: $20,000
Franchise can be run from home. 20% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 1. Absentee ownership of franchise is NOT allowed. (85% of current franchisees are owner/operators).
|FINANCING TYPE||IN-HOUSE||THIRD PARTY|