7/10

Franchimp Summary Rating

0 /10
Higher than 100% of peers

Franchise Summary

Description
The franchised business is the mobile retail design, sale and installation of organizing units and storage and organizing accessories for closets, pantries, home offices, storerooms, utility rooms, basements, laundry rooms, attics and garages and garage flooring.
Company Background
Tailored Living is a specialty retailer of organizing units and storage products for closets, pantries, home offices, storerooms, utility rooms, basements, laundry rooms and more. The company has been franchising since 1995 and has over 500 franchisees in 46 states with an additional 600 dealers who sell Tailored Living products.
Franchise Opportunity
You want your home to be a place of comfort and relaxation, but it feels like a never-ending battle trying to keep everything organized and tidy. It's hard to relax when you're constantly worrying about the mess in your home. Not to mention, all that clutter is bad for your mental and physical health. Tailored Living can help you win the war against clutter. We offer custom storage solutions that are designed specifically for your needs and lifestyle. Our team of experts will work with you one-on-one to create a solution that fits your unique space and budget.
Corporate Structure
Tailored Living, LLC, was incorporated in California on January 24, 2006, under the name “Closet Tailors, Inc.” On May 18, 2006, they converted to a California limited liability company named “Closet Tailors, LLC.” On May 5, 2010, they changed their name to Tailored Living, LLC. They have been offering franchises since 2006. Their affiliate, Budget Blinds, Inc., a franchisor of window covering businesses, is a California corporation that was organized on October 5, 1992 and converted to a California limited liability company on November 24, 2015. It began offering franchises in March 1994. Tailored Living, LLC’s principal business address is 19000 MacArthur Boulevard, Suite 100, Irvine, California 92612. Their parent company is Home Franchise Concepts, LLC. Prior to November 30, 2015, HFC was a corporation, and its entity name was Home Franchise Concepts, Inc. As of November 30, 2015, Trilantic Capital Management L.P. acquired a majority stake in HFC, and as part of that transaction, HFC converted to a limited liability company. Trilantic Capital Management L.P.’s principal business address is 375 Park Avenue, 30th Floor, New York, New York 10152.
Investment and Franchisee Fees
The total investment necessary to begin operation of a TAILORED LIVING® franchised business ranges from $156,430 to $296,295. This includes $74,950 to $109,950 that must be paid to the franchisor.
Royalties and Marketing Fees

Royalties : Monthly Payment $300 - months 1- 6 $700 - months 7- 12 $1,100 - months 13 - 24 $1,500 - months 25 - 36 $2,000 - months 37 and later

Royalties : Monthly Payment: $700 until there are 199 fee-paying territories $1,250 once there are 200 fee-paying territories $2,000 once there are 500 fee-paying territories

Earnings Transparency

7 /10
This Franchise discloses slightly more information about the financial performance of their franchisees compared to other franchises in the same industry

Why do some franchises disclose more than others?
There are many reasons why a brand may choose to not include item 19 on their FDD: they could be a newer franchise, they may be in a unique industry that is not super profitable or well-known yet

Financial Performance of "Standard" Units

Average Revenue Per Unit

Compared vs. Building & Construction Industry

$588,139 / unit

Franchise Type: Standard

Average Revenue During 2020

$588,139
$177,840
Industry Low
$4,027,621
Industry High

Employee Contact Database

# Name Position Phone Number Email Address

Distribution of Tailored Living Franchisees

Tailored Living Franchise System Development in 2018

FAQ

How much investment do I need to start my own Tailored Living business?
Franchisees typically require at least $184 to $297 investment to get their Tailored Living business started
What are the initial franchise fees for Tailored Living?
Franchisees typically need to pay at least $74 in fees directly to Tailored Living in order to earn the right to launch their business
How much money can I make with a Tailored Living franchise? What are the average revenues for a typical Tailored Living business?
We estimate that the average revenue of an individual Tailored Living unit is approximately $588,139. We based this on Item 19 in franchise disclosure document
How long do I need to commit to running a Tailored Living unit? What is my contractual commitment?
Tailored Living franchisees are typically required to sign up to a 10 year contract initially. The renewal length is 10 years. You can of course exit early but don’t expect to get any refund!

Accessibility

0 /10
The Franchisor's investment costs ranges from $3,373,725 to $5,054,640 which is Much Higher than the $0 to $0 average in the Building & Construction industry
What determines the investment cost?
Item 7 of the Franchise Disclosure Document lays out the full list of initial investment costs, including the fee payable to the franchisor, security deposits, equipment, professional fees etc

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