Keep on reading if you are planning to own a Stanley Steemer Carpet Cleaning franchise and are atypical about how to open a Stanley Steemer Carpet Cleaning, what are the vivid types of investment required, what all formalities you have to go through, is it genuinely beneficial to invest in this franchise and many more.
What is the Stanley Steemer franchise?
As mentioned above Stanley Steemer is a company founded in 1947 by Jack Bates and has been run by the Bates family since then. In 1972, it started offering the Stanley Steemer Carpet Cleaning franchise to the common folks. In other words, from 1972 onwards common folks could open a franchise of Stanley Steemer Carpet Cleaning by shelling out the required amount of investment.
Stanley Steemer not only agrees to the opening of the franchise for a particular time frame but also provides the necessary support to its franchisee. It lays out both on-job training as well as classroom training apart from additional training that is provided throughout the year as and when the need arises.
Hence, Stanley Steemer acts as a franchisor, and the individual who opens the franchise is referred to as a franchisee.
How much financial resources are required to open the Stanley Steemer franchise?
Since you enjoy the long-made goodwill of Stanley Steemer, a handsome amount needs to be invested to commence the Stanley Steemer franchise. There are various types of investments that are charged by the franchisor. Below mentioned points will aid you in estimating the number of financial resources you need to keep handy with yourself.
Initial Investment – This refers to the amount to be paid to the franchisor (Stanley Steemer in this case) in a lump sum. This amount is charged against the agreement which gives a right to the franchisee to open a franchise. Approximately $20,000 to $80,000 needs to be invested. Initial Investment – This is the amount of investment required to be invested in the nascent stage of opening the franchise. It is the summation of capital expenditure and working capital requirements. Approximately $100,000 to $270,000 needs to be invested. Ongoing Royalty Fee – Amount paid to the franchisor for ongoing use of their company’s name, equipment, technology, etc. are termed as Ongoing Royalty fee. The ongoing Royalty fee of Stanley Steemer is roughly 7% of the gross sales. Ad Royalty fee – It is the fee paid to the Franchisor for the advertising expenditure borne by it, whose benefit will be enjoyed by the franchisee as well. The ad Royalty fee of Stanley Steemer is around 2% calculated on the gross sale.
Procedure
After being aware of the cost that you will incur in opening the Stanley Steemer franchise, the next step is to know the procedure of starting the franchise. Following are the steps that you need to proceed with: –
Check the availability of Funds – The first and foremost step is that you need to arrange the fund required. Some banks are willing to provide financing to individuals to open a Franchise, provided the individual qualifies the terms and conditions of the bank. Do SWOT analysis – SWOT analysis needs to be done by the individual not of the organization by himself. Evaluate the strengths and weaknesses he possesses and what are the opportunities and threats from the franchise. Approach the Franchisor – After complete evaluation head towards Stanley Stemmer, request them to grant permission to start a franchise. You may be asked to fill one or two forms. Selection or rejection – The personnel present at Stanley Steemer will review your application and decide whether you are eligible to start the franchise or not.
Conclusion
Stanley Steemer is a company (not a franchise) in the maintenance industry that over decades has been providing various cleaning services that as carpet cleaning, duct cleaning, rug cleaning, floor cleaning are the few services in which it has supremacy. It offers franchise rights to the individuals who want to start it. Due to franchising, Stanley Steemer has been able to locate its company’s presence in over 260+ locations not only in the United States but across the globe.
