Rank no.318 – Furniture Medic – US
Products & Services: Furniture & wood restoration & repairs
Number of Locations: 316
Total Investment: $54.13K – 70.37K
Began Franchising: 1992
About Furniture Medic
Joseph Lunsford wasn’t looking to start a business when he moved into a new home and realized that several pieces of his furniture had been damaged in transit, but start one he did. He founded Furniture Medic in 1992 in response to his dissatisfaction with the long turnaround time that was common with most refurnishing shops. In 1996 Furniture Medic was acquired by ServiceMaster and has since grown to more than 600 locations throughout the United States, Canada and Europe.
ServiceMaster’s franchise family also includes franchisors Merry Maids, Terminix and AmeriSpec.
Startup Costs, Ongoing Fees and Financing
Franchise Fee: $29,900
Ongoing Royalty Fee: 7%
Term of Franchise Agreement: 5 years, renewable
Net Worth: $60,000 – $80,000
Liquid Cash Available: $15,000 – $25,000
Franchise can be run from home. 40% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 1. Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators).
|FINANCING TYPE||IN-HOUSE||THIRD PARTY|
How This Franchise Supports Franchisees
Franchise Ranking History
|Type||Private (Held by Clayton, Dublier and Rice Inc.), Subsidiary of The ServiceMaster Company|
|Headquarters||Memphis, Tennessee, USA|
|Key people||Thomas J. Coba, President
Kathy Thiessen, General Manager
Furniture Medic is a franchisor which sells and supports residential and commercial wood repair and restoration services franchisees throughout the United States, using the “Furniture Medic” trademarks and systems to provide on-site furniture, wood and kitchen cabinet restoration services for the home and office.
Company History and Key Dates
- 1992 – Joseph Lunsford founds Furniture Medic
- 1996 – Furniture Medic acquired by ServiceMaster
- 1980 to 2000 – further expansion of The ServiceMaster Company’s Consumer Services businesses formed a network of service companies, headquartered in Memphis, Tennessee, including ServiceMaster Clean, Terminix, TruGreen, Merry Maids, Furniture Medic, American Home Shield and AmeriSpec.
- 2007 – Clayton, Dubilier & Rice, Inc. (CD&R), based in New York City, New York, acquired The ServiceMaster Company.
- 2011 – Hank Mullany, a former Wal-Mart Stores, Inc. executive, appointed as CEO for The ServiceMaster Company. And, Thomas J. Coba, former COO of Subway, named President of ServiceMaster franchise brands, including Furniture Medic, ServiceMaster Clean, Merry Maids, and AmeriSpec.
Furniture Medic Organizational Structure
Furniture Medic has over 300 independently owned and operated franchises in the US, Canada and Europe. Furniture Medic Limited Partnership is a subsidiary of The ServiceMaster Company, one of the world’s largest service networks with locations in the U.S. and Canada as well as 10 countries around the globe.
For furniture repair and wood restoration, you can depend on our expert technicians, their dedication to quality workmanship and attention to detail.
Furniture Medic, one of the world’s largest wood and furniture repair and restoration companies, has an established reputation for excellence unmatched in the industry. Our success is firmly rooted in our dedication to providing our customers with unparalleled craftsmanship and quality service in wood restoration and upholstery repair. In both residential and commercial settings, we provide an affordable alternative to replacement of furnishings and fixtures. We specialize in wood and furniture repair for antiques, millwork, paneling, banisters, cabinetry, mantels, hardwood floors and some upholstery. Other services include cabinet refacing, furniture structural repair and stabilization, precision repair of wood surfaces, color blending and image enhancement, as well as furniture refinishing and polishing.
Whether you need enhancement, refinishing or restoration, Furniture Medic offers dramatic results with many furniture or upholstery repairs done on site in your home or business. Utilizing proven technology, products and processes, our skilled technicians can restore and enhance your wood’s natural beauty and strength while virtually erasing scuffs, gouges, water rings and dents. Even broken, water-damaged and fire-damaged furniture pieces can often be restored to a like-new or pre-loss condition.
Trust Furniture Medic to care for your family’s furnishings, or your office furnishings, hardwood floors, molding and millwork.
Our expertise is unsurpassed and workmanship is unmatched.