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Updated RecentlyOwens Corning Basement Finishing System vs Fibrenew Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Owens Corning Basement Finishing System vs Fibrenew including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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| Investment | $41,000 - $167,000 | $87,812 - $99,452 |
| Franchise Fee | $15,000 | $47,000 |
| Royalty Fee | 5% | $695/mo. |
| Advertising Fee | - | - |
| Year Founded | 2000 | 1985 |
| Year Franchised | 2000 | 1987 |
| Term Of Agreement | 5 years | 5 years |
| Term Of Agreement | 5 years | 5 years |
| Renewal Fee | $9K | - |
Business Experience Requirements |
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| Experience | Fibrenew franchisees come from all walks of life. The diversity of backgrounds and past careers is widely varied, including:
Engineer, Sales Executive, Teacher, Stock Broker, Military, Chemist, Printing Industry, Insurance, Manufacturing, Rocket Scientist, Painting, Mechanic, Truck Driver, IT / Networking, Accounting, Golf Pro, Pilot, Much more... Even with this diversity, there are a few criteria that franchise owners must meet: - Can not be color blind - Enjoys working with their hands - Confidence with relationship & networking sales - Physically fit as lifting furniture may be required - Is trainable and coach-able |
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Financing Options |
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| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/No | No/Yes |
| Start-up Costs | No/No | No/Yes |
| Equipment | No/No | No/Yes |
| Inventory | No/No | No/Yes |
| Receivables | No/No | No/Yes |
| Payroll | No/No | No/Yes |
Training & Support |
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| Training | - | You will be trained at our Calgary, AB training center. The 2 week training session is conducted by seasoned technicians who have all owned and operated their own Fibrenew Franchise. All told, our instructors have over over 50 years of combined knowledge. The training center is set up to facilitate hands-on instruction and practice of the many techniques our technicians use in the field everyday, including: * repair techniques * color identification * material identification * business operations * marketing and sales * communications On-The-Job Training: 12 weeks Classroom Training: 80+ hours |
| Support | Meetings, Internet, Field operations/evaluations, Purchasing cooperatives | Fibrenew offers live training and meetings on a regular basis and requires all franchise owners to attend. Besides their educational value, these conventions, seminars and workshops offer everyone an opportunity to meet, network and share valuable business experiences. Our dedicated support staff provides our franchisees with expert field assistance, whether it be a question with a repair, color matching, products, business operations or administration. All support technicians are past or present franchisees who have 'walked a mile' as Fibrenew repair technicians and business owners. We are here to help by phone, live video feed, email and/or our online Technical Support Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Proprietary Software Franchisee Intranet Platform |
| Marketing | Co-op advertising, Ad slicks, National media | Ad Templates Social media SEO Website development Email marketing |
| Operations |
10% of all franchisees own more than one unit Number of employees needed to run franchised unit: 20 Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators) |
Franchise can be run from home. 1% of all franchisees own more than one unit Number of employees needed to run franchised unit: 1 Absentee ownership of franchise is allowed. (100% of current franchisees are owner/operators) |
Expansion Plans |
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| US Expansion | - | Yes |
| Canada Expansion | No | No |
| International Expansion | No | Yes |
Company Overviews
About Owens Corning Basement Finishing System
Owens Corning has been a world leader in building materials, systems and composite solutions for more than 70 years, and a Fortune 500 company for more than 50 years. The ability to remain a household name for residential and commercial projects is partially due to the successful partnerships with businesses who are devoted to sharing the Owens Corning standards. The Basement Finishing System ("System") was developed at Owens Corning's nationally accredited and internationally recognized Science & Technology Center, Granville, Ohio. As with all of its products, Owens Corning focused on developing a high-quality system designed to meet the market needs. For that reason, Owens Corning conducted extensive research and development. This included three years of testing and modifications. The result is a state-of-the-art Basement Finishing System that benefits franchisees and homeowners alike. The System also has been recognized with awards from Popular Science and the National Association of the Remodeling Industry. If you are interested in growing your business, becoming an Owens Corning customer may be the perfect opportunity for you.
About Fibrenew
Our mission is to remain as the worldwide leader in leather, plastic and vinyl restoration and repair, while assisting our franchisees in achieving their personal and financial goals through owning and operating a thriving business.
Our vision is to provide our service, throughout the world with integrity, distinction, and enthusiasm.
Fibrenew continues to implement systems designed to improve every aspect of what we do, and how we do it. We are committed to providing advanced training, support and the opportunity of growth for every franchise owner.
Franchising Opportunities Available in USA, Canada, Australia, New Zealand & Mexico.
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