🍟 6/8/2023 – Two Franchises Averaging Over $3M in Revenue

FRANCHISES OF THE WEEK

1) Closet Factory

Fast Facts

Background

  • HQ: Los Angeles, CA
  • Founded in 1983, franchising since 1985
  • Closet factory provides custom closets and personalized built-in organization systems for the whole house.

Franchise Fees

Financial Overview

  • The below table discloses information on total gross sales at 40 franchised Closet Factory businesses open more than one year on December 31, 2021.

The Wolf’s Take 🍟

I had to do a double take on the average revenue being shown by Closet Factory. Home organization is how the brand classifies themselves, which given the pictures on their website makes sense – some of the creations are pretty stunning.

I’d imagine they naturally cater toward a much higher income consumer who has discretionary income, as creating a beautifully designed closet certainly isn’t a need for someone. 


Home remodeling is a $12 billion dollar/year industry, and Closet Factory is getting their piece of the pie.

Check them out below!

Resources

2) Sweet Chick

Fast Facts

Background

  • HQ: New York, NY
  • Founded in 2013, franchising since 2023
  • New York-based restaurant group specializing in chicken and waffles

Franchise Fees

  • Royalty: 6%
  • Brand Fund: 2% 
  • Franchise Fee: $40,000

Financial Overview

  • The below table presents information about certain results achieved by the 5 company-owned locations in operation for the entire 2022 fiscal year. 

The Wolf’s Take 🍟

Sweet Chick is a hefty investment, but for the restaurant operators subscribed to this newsletter I wanted to share it.

This franchise just got added to Krokit, and while it’s a small sample size, their average revenue over $3.2M for any restaurant is an impressive feat. 

For what it’s worth…their food also looks incredible 🤤

If you’re interested in this franchise, check out their website below!

Resources

FROM THE POD

Alex Yeater – Everbowl

This was a fun conversation with Alex Yeater, who shared with us what it’s like being an area developer.

While he was a multi-unit franchisee of a different brand, he’s now part of Everbowl by owning a few locations himself, while also sub-franchising underneath him.
Check out our conversation here!

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