Rank no.462 – Slumberland Franchising Inc. – US

Slumberland Franchising Inc.

Products & Services: Home furnishings

Number of Locations: 127

Total Investment: $499.5K – 2.07M

Founded: 1967

Began Franchising: 1974
About Slumberland Franchising Inc.

The first Slumberland store opened in Minnesota in 1967, selling mattresses and La-Z-Boy products. The company began franchising in 1974, and stores today offer a variety of furniture for bedrooms, living rooms and dining rooms.

Where Seeking Franchisees: Franchisor is seeking new franchise units in the following states:
Iowa, Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri, Montana, Midwest, Nebraska, North Dakota, South Dakota, Wisconsin, Wyoming.
Startup Costs, Ongoing Fees and Financing

Total Investment: $499,500 – $2,084,000
Franchise Fee: $30,000 – $50,000
Ongoing Royalty Fee: 3%
Term of Franchise Agreement: 15 years, renewable
FINANCIAL REQUIREMENTS
Net Worth: $300,000 – $2,000,000
Liquid Cash Available: $100,000 – $500,000
OPERATIONS
40% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 10. Absentee ownership of franchise is allowed. (100% of current franchisees are owner/operators).

How This Franchise Supports Franchisees

Training: Available at headquarters: 2-3 days. At franchisee’s location: 2 weeks. Ongoing both on-site & at corporate office
Ongoing Support: Newsletter, Meetings, Grand opening, Internet, Field operations/evaluations, Purchasing cooperatives
Marketing Support: Co-op advertising, Ad slicks, National media, Regional advertising,
Franchise Ranking History

Franchise 500®: #462 (2013), #280 (2012), #258 (2011), #293 (2010), #278 (2009),

The Early Years

Ken Larson was just 25 when the first Slumberland store opened in Richfield, Minnesota. It was 1967: a movie ticket cost $1.25, a gallon of gas was 33 cents, and a Slumberland “21-piece King-sized Mattress Package” (which included a mattress, two box springs, a frame, a headboard, sheets, a blanket, pillows, and a bedspread) cost $299.

Slumberland was established on a new trend in mattresses—the “sleep store,” that specialized in, well, sleep. Prior to the sleep store, people could only purchase mattresses at furniture or department stores, and there were few options. Couples slept on two twin-sized beds (think Lucy and Ricky in the famous television program, I love Lucy) or together in full-sized beds, which still today offer each person a sleeping space equivalent to that of a baby in a crib.

Sleep stores such as Slumberland not only sold larger mattresses (enter the queen and king) and sleeper sofas, but also provided sleep experts—sales representatives with specialized knowledge in finding the right mattress for each individual or couple based on body size, sleep habits, and other needs. Essentially, the “science of sleep” had been born.

Expansion–Today

Our first product expansion was a natural fit: La-Z-Boy recliners. (After all, people do a lot of sleeping in their recliners.) Founded in Michigan in 1927 by cousins Edward M. Knabusch and Edwin J. Shoemaker (who, incidentally, created their first mock-up out of orange crates), La-Z-Boy promoted quality and value. Its products resonated with Slumberland customers, and today we are one of the nation’s top sellers of La-Z-Boy upholstery.

We soon identified another area in which to expand: bedroom furniture. Our clients required not only mattresses and bedframes, but also dressers, nightstands, and other items for the bedroom. This ultimately led to a limited array of whole-house furniture and accessories.

As our product line expanded, so did our reach. We now have more than 125 stores in 12 states throughout the Midwest. We are still family-owned with Ken’s son, Kenny, at the helm, and we remain steadfast in our commitment to provide quality, stylish furniture that is easy to love, easy to maintain, and easy on the pocketbook.

Mission and Values

Our mission is to improve the life of each customer. We strive to uphold this promise through our products, our service, and our company values:

• To work with honesty and integrity
• To treat one another with love, dignity, and respect
• To be good citizens

We are thrilled when a customer battling aches and pains or full-fledged insomnia finds the mattress that will allow her to sleep soundly at night. We take pride in providing your family with furniture that will create a home filled with love and comfort. And we remember those in our community who are less fortunate by donating a percentage of our earnings to charitable organizations and by hosting our annual Homes for the Holidays event that provides new beds to those in need.

Source: http://www.slumberland.com