Eliminating the Hurdles of Becoming a Franchisee: Threshold Brands Finances Franchise Fee
Through the balance of 2022, each individual brand under the multi-brand franchisor will offer financing on franchise fees. New franchisees will be required to only put down 25% of the franchise fee.
BOSTON, Sept. 28, 2022 /PRNewswire-PRWeb/ -- When Threshold Brands landed on its brand promise of "Opening doors for franchise
owners, customers, and employees to pursue their dreams", they meant it. Through the rest of 2022, the 500-plus unit multi-brand franchisor of MaidPro, Men in Kilts, USA Insulation, Heating + Air Paramedics, Plumbing Paramedics, Granite Garage Floors, Pestmaster, Patio Patrol, and Sir Grout, is changing the franchisee game, launching a franchisee-first model in which franchisees pay 25% of the franchise fee upon signing and begin paying the remainder 1 month after they open their unit. In addition, the deferred fees will be paid back interest-free.
"This model does two things. First, it eliminates a cash barrier for franchisees choosing to partner with our brands to achieve the dream of business ownership... We wanted to give each new franchise owner more cash flow flexibility versus having a large sum of cash tied up prior to opening. Second, it allows the franchisee to secure multiple units on day one, meaning, they can start laying the foundation for a multi-unit/multi-brand portfolio," said R. Scott Sutton, Chief Growth Officer.
In franchising, the franchise fee is used to offset the costs of getting a franchisee up and running. For the well-capitalized Threshold Brands, this is not a necessary cash flow stream, but rather, an opportunity to partner alongside the franchisee as they start their pathway to franchise ownership.
Sutton noted that his team is still diligent in the selection process.
"We have incredible franchisees driving the growth inside of our world-class brands. This is an opportunity to provide more cash flexibility for our franchisees as they get open. We want to eliminate as many hurdles and stress points for our franchise owners as possible, especially when going from signing to opening. We want our franchisees focused on training, staffing, marketing, opening, and driving value for our consumers," he said.
About Threshold Brands:
Threshold Brands is focused on opening doors for franchisees, customers, and employees to pursue their dreams. Threshold's portfolio includes a growing number of franchised service brands, including Patio Patrol, Granite Garage Floors®, Heating + Air Paramedics®, MaidPro®, Men In Kilts®, Pestmaster®, Plumbing Paramedics®, Sir Grout®, USA Insulation®, and Granite Garage Floors. More information about Threshold Brands and its franchising opportunities are available at http://www.thresholdbrands.com.
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Nick Powills, Mainland, 3125263996, [email protected]
SOURCE Mainland
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