Rank no.106 – Steamatic Inc. – US
Products & Services: Cleaning services, disaster-recovery service, insurance restoration, mold remediation
Number of Locations: 368
Total Investment: $121.25K – 198.25K
Began Franchising: 1967
About Steamatic Inc.
Bill Blackmon and Scott Mooring started a carpet cleaning business in Fort Worth, Texas, in 1948. In 1967, they formed Steamatic in order to franchise their business model. Bill Sims bought the company in 2006. Services now include carpet cleaning, air duct cleaning, furniture and drapery cleaning and disaster restoration.
Startup Costs, Ongoing Fees and Financing
Franchise Fee: $15,000 – $40,000
Ongoing Royalty Fee: 5-8%
Term of Franchise Agreement: 10 years, renewable
Net Worth: $250,000
Liquid Cash Available: $50,000
Franchise can be run from home. 10% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 6 – 10. Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators).
|FINANCING TYPE||IN-HOUSE||THIRD PARTY|