Tide Cleaners franchise investment and requirements
Investment & requirements
Opening a Tide Cleaners location is an investment into your future. Initial investments vary depending on the location and format. Potential franchise owners must meet certain financial requirements to open a Tide Cleaners franchise and doing so will lead them onto a successful path of business ownership. Here is a breakdown of investments and requirements needed to open a Tide Cleaners franchise.
Tide Cleaners franchise costs
Whether you want to open your first Tide Cleaners franchise, or build an additional site, costs vary depending on the location and format.
New franchisees must first open a Tide Cleaners Plant Store, which is our largest format and allows customers to interact with Tide Cleaners experts. From there, owners can open additional Plant Stores or smaller Drop Stores. The additional sites allow clients in various neighborhoods within the market to drop off and pick up their dry cleaning and laundry without going out of the way.
Franchise fees are included in our breakdown of the initial investment for each location model:
$681,100 - $1,573,300 for a Plant Store
$153,900 - $636,800 for a Drop Store
$79,500 - $349,750 for a Neighborhood Drop Store
$56,900 - $267,150 for a Locker Only Drop Store
These amounts are representative of a Lease Model and do not include associated costs for land and building . Included in the initial investment franchise costs are project management costs, a new store marketing expense, and a start-up assistance, and training fee. Additional details will be provided during the qualification
Ongoing franchisee costs
Beyond the initial investment of opening a Tide Cleaners franchise, there are ongoing costs associated with each location.
Franchise partners must contribute weekly royalty and marketing fees for each Tide Cleaners location. Royalties for each Tide Cleaners location are 6.5% of net sales (gross sales minus taxes, refunds, and discounts). Marketing fees are 4% (including a 2% national ad fund and a 2% local fund).
For a limited time, Tide Cleaners is offering incentive programs to assist new owners with franchise costs.
Agile Pursuits Franchising, Inc. (APFI) offers the following incentives:
APFI covers up to $7,500 in Marketing Expenses for Neighborhood Drops and/or Locker Only Drop Stores
Neighborhood Drop and Locker Only Drop Store Project Management Fee and Start-Up Assistance Fee are deferred until 1 year after opening
Tide Cleaners owner qualifications
Potential Tide Cleaners owners must be passionate about the communities in which they plan to serve. Tide Cleaners looks for franchise owners who are interested in being owner operators, have great people skills, believe in the Tide Cleaners brand, and have a strong understanding of how to manage financials.
Previous business experience is strongly preferred for new Tide Cleaners owners, although this does not have to include experience in the laundry or dry cleaning services industry.
Potential franchise owners must have $750,000 in liquid capital and a net worth of $2,000,000.