Franchise You Need To Know About Now: Floor Coverings International

Unlock the secrets to thriving in the $100 billion flooring industry with Floor Coverings International! Join host Jack Johnson as he unpacks the franchise's unique model that’s shaking up the market by delivering showrooms directly to customers' homes. With 250 locations and ambitious expansion plans, this franchise offers a distinctive edge over traditional big-box retailers. We'll explore how this innovative approach not only enhances convenience and personalization for customers but also presents a lucrative opportunity for investors. Discover why this franchise stands out in a crowded market.

In this episode, we explore the journey of building a prosperous franchise business from the ground up. Learn about the benefits of owning two territories and scaling from two employees as your revenue grows. Capture insights into why Floor Coverings International encourages a mindset of resilience and long-term growth for sustained success. 

Whether you're a potential franchisee or simply curious about the business landscape, this episode offers invaluable insights into what makes this franchise a promising investment. Don’t miss your chance to learn how you can be part of this transformative venture.

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Chapters

• 0:22 Franchise Opportunity
• 7:51 Floor Coverings International Franchise Opportunity

Transcript

Speaker 1: 0:23

Hey everyone, jack Johnson here, happy Monday, happy Veterans Day. Thank you to all of you who served. We gosh, we wouldn't be here without you. Thank you so much, and for all of you today, for Monday, november 11th, I have got a whale of a franchise that I want to talk to you about today. And, by the way, for all of you asking yes, jill absolutely is still. She's still on inside scoop duty. We can only get Jill once a week. Listen, she's a busy gal about town, so she does inside scoop and she does. We Bought a Franchise once a week. That's hey, listen, that's how often I can get her in the studio. So for the rest of the week, you've got me.

Speaker 1: 1:05

And so what I want to talk to you about today is a franchise called Floor Coverings International. Now, this is an insider franchise, you guys. This is a franchise that, when I look at all the data I have through other franchise broker networks, this is always one that seems to be awarded pretty consistently over the years. And so when I say that, what does that mean? Well, this is a company that was founded in 1988 and started franchising in 1988. They have how many locations do these guys have? They've got a lot of locations out there. The question is, what is the exact number here? They have 260 locations, but they have room for a lot more and they want to expand in Ohio, florida, california, new York, nebraska, iowa, colorado, washington, oregon, texas They've got Dallas open Houston, okay, you get it. There's good markets San Diego, los Angeles, miami.

Speaker 1: 2:08

So what the heck is Floor Coverings International? Why are we talking about it? Well, you guys know I love boring businesses and that's not meant to be a slight at Floor Coverings International, because they're the number one flooring franchise in North America. They have been doing it since 1988. So I think again what is it that makes this a good business? Well, the flooring industry is a $100 billion market in North America. The industry is highly fragmented, with over 50 companies making up the top 10%, and so, due to the fragmentation and the poor big box buying experience, market shares easily obtained, purchasing flooring is highly inconvenient. So Floor Covering International is an alternative to the big boxes. They make purchasing flooring in your home easy, so they come to you. Floor Coverings International has a unique business model that brings the showroom directly to the customer's home and that appeals to customers' busy lifestyles. I agree with that. I mean, listen, when I work from home, I like people to come to me and we've gotten used to that over the past few years. So the customers meet with a design representative in their home and it's convenient, easier for them to envision their flooring and they're able to experience the extensive array of design options in their home environment.

Speaker 1: 3:26

So the demand for flooring in the US residential construction sector is expected to grow due to increasing single-family constructions and renovation activities. I mean, this is what they're saying, but we know the scoop, guys. You've got a lot of people what is it? The median homebuyer now is in their 50s. The average homebu buyer is 38. But you have a lot of people sitting there with a ton of equity in their house that are improving their houses and these floors. It's like we got and we had like white floors put in our house a few years ago and now it feels like we're out of style. We've got to do a whole new floor. So it's one of those things that it makes a lot of sense.

Speaker 1: 4:04

And again, when I look at the franchise market, floor Coverings International is a why they want people to uh, invest in two territories, two territory minimum, um, and that likely is because they want their owners building bigger businesses, bigger, bigger territories. So that's why that franchise fee is is higher than your, your average. Um, we can save you two to $10,000 through our cashback rebate program and if you want to know how much that exact rebate is, all you have to do is text me at 305-710-0050. So, even with the high franchise fee, they're saying total investment is $210,000 to $300,000. You guys know, if you listen to my podcast enough, you know I'm going to say go for the higher number, always, always, always, go for the higher number, the higher number, always, always, always, go for the higher number, and don't be surprised if you got to put a little bit extra in over the course of your first 12 to 18 months going to business. That's business ownership folks being prepared to invest more, being prepared that in month six you might want to go home and quit.

Speaker 1: 5:11

It's the franchise owners that have the mindset. When I work with you, when you work with me as a franchise consultant, we are going to talk as much about franchisee mindset, being prepared to get through that first year, because that's the thing most people aren't ready for and that's what I'm going to help prepare you for and it's why you need to listen to our other podcast called we Bought a Franchise, because you're going to hear Jill and I going through it. We'll tell you the good, bad and ugly. We'll tell you about how we had a record month and then a couple of days later we realized that we hadn't been charged for our second ban and then I've got to make two payments cut into that great profit. That's life and that's business ownership. So that's what I do as a franchise consultant. Text me at 305-710-0050.

Speaker 1: 6:02

Visit thefranchiseinsiderscom and let's set a time to have a discussion, because I'm telling you these franchises, like Floor Coverings International, these are good businesses. They are one of the best home improvement brands for many reasons. They've been rated the number one flooring company in North America For real the highest NPS score they say 83 in the whole hundred billion flooring industry and they use their mobile showroom to create a shop at home experience where their competition is made up of boring retailers. They've got 400 territories open still and their franchise owners this is super important. Their franchise owners validate extremely well. What is validation? That is where, once you're exploring a franchise, you actually speak to franchise owners and you get to ask them questions.

Speaker 1: 6:46

Now this is another thing we cover too when I work with you as a franchise consultant is what are we hearing? Are we talking to a franchise owner who stands down in the dumps, who doesn't sound very confident or excited, and they say, well, business isn't going so well? And then you go look up their location and they have two Google reviews. Then you go and you talk to me and I just set a franchisee record for my franchise that I own and you see that we've already got like 30, 40 Google reviews and we've only been open, you know, less than a year. So that's what we look for, right? These are little hacks that I can teach you as you search for your franchise.

Speaker 1: 7:19

So if you're exploring floor covering international and you're talking to a franchisee, before you have that phone call, let's go look at the Google reviews and we want to see a lot. We want to see someone that's out there who really is building that. Because what does it mean to be a successful franchise owner? It means drive sales, be urgent to drive sales. It means lead the team. Last but not least, deliver great customer service, make sure your clients are happy. So Floor Coverings International this is one that you guys definitely want to look at if you're thinking about owning a franchise.

Speaker 1: 7:52

The item 19 is great. I'm not going to tell you what it is, but if you text me at 305-710-0050, I'll get you connected to them and they can tell you. Average number of employees for a Floor Coverings International franchise is two to start, and it grows by every yet another employee. Per certain revenue marks they charge a 5% royalty and they are SBA approved. Rates did come down last week as we discussed on the last podcast, so Floor Coverings International is one that you want to learn about. I can save you $2,000 to $10,000 on this great home services flooring business that smart people are buying. Let's talk about it. Text 305-710-0050. I'm Jack Johnson. Happy Veterans Day. I'll be back with you tomorrow on the Inside Scoop.