Rank no. 396 – Comet Cleaners – US
Products & Services: Dry cleaning & laundry services
Number of Locations: 220
Total Investment: $79K – 624K
Began Franchising: 1967
About Comet Cleaners
R.L. (Jack) Godfrey founded the original Comet Cleaners in 1960. Today, the family-run company, under the direction of Godfrey’s son and grandson, has over 300 location in the United States and Mexico providing one-hour dry cleaning services.
Arkansas, Arizona, Colorado, Florida, Georgia, Idaho, Kansas, Kentucky, Missouri, Midwest, New Mexico, Nevada, Ohio, Oklahoma, South, Southeast, Southwest, Tennessee, Texas, Utah, West.
Franchisor is seeking new units in Mexico, South America.
Startup Costs, Ongoing Fees and Financing
Franchise Fee: $15,000 – $30,000
Ongoing Royalty Fee: 5%
Term of Franchise Agreement: 5 years, renewable
Net Worth: $200,000
Liquid Cash Available: $50,000
55% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 10. Absentee ownership of franchise is allowed. (75% of current franchisees are owner/operators).