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You've Got MAIDS Franchise ProfileCleaning Franchises > Residential Cleaning |
What is the Initial Investment for a You've Got MAIDS Franchise?
To start a You've Got MAIDS franchise, you will need an initial investment ranging from $36,394 to $107,537. This includes a franchise fee of $6,999, which grants you access to the brand and its support systems. Additionally, you should be prepared for ongoing costs, such as a 5.90% royalty fee on revenue and a 3.00% marketing fee, which are essential for maintaining brand presence and operational support.
What are the Financial Performance Metrics for You've Got MAIDS?
The average annual revenue for a You've Got MAIDS unit is approximately $399,088, with a median revenue of $350,175. The revenue can vary significantly, with the lowest reported annual revenue at $33,701 and the highest reaching $1,297,904. Franchisees can expect to break even within about 12 months, making it a potentially lucrative investment for those who effectively manage their operations.
What are the Required Financial Qualifications for Franchisees?
To qualify for a You've Got MAIDS franchise, you need a net worth between $75,000 and $150,000. Additionally, you should have liquid capital available in the range of the initial investment. These financial requirements ensure that franchisees have the necessary resources to support their business and sustain operations during the initial growth phase.
What Ongoing Expenses Should You Anticipate as a You've Got MAIDS Franchisee?
As a You've Got MAIDS franchisee, you can expect various ongoing expenses, including insurance (ranging from $500 to $2,000), utilities, rent, and marketing costs of around $19,000 annually. Other expenses may include accounting services, national brand fund contributions, and software licensing fees. Understanding these costs is crucial for managing your budget and maximizing profitability in your franchise operation.
You've Got MAIDS Franchise Financial Requirements
Below, you’ll find an overview of the initial investment needed to launch the business, along with the ongoing fees required by the franchisor to maintain operations over time.
The minimum total assets (minus liabilities) you must possess.
Net Worth Required:
The estimated period to recoup your total investment.
Investment Payback:
The initial fee paid to join the franchise system.
Franchise Fee:
Ongoing percentage of revenue paid to the franchisor.
Royalty Fee:
Regular contribution toward the franchise’s advertising fund.
Marketing Fee:
The estimated timeframe to recover your initial costs.
Breakeven Time:
The total amount required to launch the franchise.
Initial Investment:
The minimum liquid capital you must have on hand.
Cash Required:
The typical yearly revenue generated per franchise location.
Average Revenue:
The middle value of yearly revenue among franchise locations.
Median Revenue:
The largest reported annual revenue among franchisees.
Highest Revenue:
The smallest reported annual revenue among franchisees.
Lowest Revenue:
A broad sector defining similar types of franchise businesses.
Industry:
A more specific division within the broader industry.
Category:
The key individuals guiding the franchise’s strategy and growth.
Leadership:
The official business address of the franchisor’s headquarters.
Corporate Address:
Available financing options to help start the franchise.
Funding Year:
The main organization that owns the franchise brand.
Parent Company:
You've Got MAIDS Franchise Unit Growth Summary
A breakdown of corporate, franchised, and total units, with yearly net changes.
Total Units
Franchised Units
Corporate Units
| Units | 2019 | 2020 | 2021 |
|---|---|---|---|
| Total Units | 18 | 0 | 0 |
| Net Change YoY | -18 | 0 | |
| Franchised Units | 8 | 0 | 0 |
| Net Change YoY | -8 | 0 | |
| Corporate Units | 10 | 0 | 0 |
| Net Change YoY | -10 | 0 |
Investment Overview
The initial investment for a You've Got MAIDS franchise ranges from $36,394 to $107,537, making it accessible for aspiring entrepreneurs. The franchise fee is set at $6,999, while ongoing royalty fees are 5.90% of gross sales, complemented by a 3.00% marketing fee. This structured investment framework allows franchisees to plan their financial commitments effectively.
Financial Performance
Franchisees can expect an average annual revenue of approximately $399,088 per unit, with a median revenue of $350,175. The revenue range is broad, with the lowest annual revenue reported at $33,701 and the highest at $1,297,904. This variability highlights the potential for high earnings, depending on location and operational efficiency.
Breakeven and Payback
Franchisees typically achieve breakeven within 12 months, which is a promising indicator of the business's viability. Additionally, the investment payback period also stands at 12 months. This rapid return on investment can be attractive for those looking to minimize financial risk while establishing their business.
Required Financials
To qualify for a You've Got MAIDS franchise, prospective owners need a net worth of between $75,000 and $150,000. Cash requirements align with the initial investment range, ensuring that franchisees have sufficient financial backing to support their business operations during the startup phase.
Corporate and Franchise Units
In 2019, You've Got MAIDS had a total of 18 units, with 8 being franchised and 10 corporate-owned. However, there were no new units opened in 2020 or 2021. This stagnation may indicate a period of reevaluation or restructuring within the franchise system, which potential franchisees should consider when assessing growth opportunities.
Operational Insights
Franchisees should be aware of various operational expenses, which include insurance costs ranging from $500 to $2,000, marketing at $19,000 annually, and other variable costs like utilities and rent. Understanding these expenses is crucial for managing cash flow and ensuring the profitability of each unit.
Frequently Asked Questions
The initial investment for a You've Got MAIDS franchise ranges from $36,394 to $107,537, including a franchise fee of $6,999.