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Updated RecentlyThe Closet Factory vs Fibrenew Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of The Closet Factory 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 | $208,500 - $356,000 | $87,812 - $99,452 |
| Franchise Fee | $46,500 | $47,000 |
| Royalty Fee | 5.75% | $695/mo. |
| Advertising Fee | - | - |
| Year Founded | 1983 | 1985 |
| Year Franchised | 1986 | 1987 |
| Term Of Agreement | 5 years | 5 years |
| Term Of Agreement | 5 years | 5 years |
| Renewal Fee | $7K | - |
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/Yes | No/Yes |
| Equipment | No/Yes | No/Yes |
| Inventory | No/Yes | 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 | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, 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, Regional advertising | Ad Templates Social media SEO Website development Email marketing |
| Operations |
International franchisees required to buy multiple units/master licenses; 30% of all franchisees own more than one unit Number of employees needed to run franchised unit: 6 Absentee ownership of franchise is allowed. (90% 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 | Yes | Yes |
Company Overviews
About The Closet Factory
John LaBarbera founded The Closet Factory in a small industrial space in Los Angeles in 1983. The company started out with six employees customizing closets, offices, garages and pantries, and now has more than 100 employees at its Los Angeles headquarters. There are also 11 other factories around the world.
The Closet Factory works with homeowners, contractors and interior decorators, installing closets, entertainment centers, pantries and shelves for offices and garages.
You are unique and so are your needs. No one knows that better than The Closet Factory. When it comes to creating custom solutions that are imaginative, well organized and satisfy your design sensibilities, The Closet Factory believes the process must begin with a partnership between you and one of our designers.
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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