Risk Score
Pending analysis
Investment Range
$129,149 - $150,949
Franchise Fee
$25,000
Total US Locations
58
Business Summary
ecomaids offers environmentally friendly cleaning services for residential and commercial properties through a maintenance program. ecomaids businesses utilize the franchisor's proprietary systems, methods, and marketing programs, including a central call center and customer guarantees, operating within a specific geographic territory.
Corporate History
The ecomaids cleaning business system has its origins in 2010, drawing on the experience of its predecessors. ecomaids LLC, the current franchisor, is a Delaware limited liability company that acquired the ecomaids system in May 2019 from its predecessor, Thoughts Are Things Franchising, LLC (TATF). TATF initially began offering ecomaids franchises in August 2012.
Financial Overview
Investment Range
$129,149 - $150,949
Franchise Fee (Low)
$25,000
Franchise Fee (High)
$94,950
Royalty %
6.5%
Marketing %
10%
Equipment Costs (Low)
$4,750
Equipment Costs (High)
$8,950
Working Capital
$32,160
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
LD Parent, Inc., the parent company of ecomaids LLC, received an unqualified audit opinion on its financial statements, indicating they present fairly. The company's working capital has decreased but remains positive, standing at approximately $2.88 million in 2023. While consolidated net income slightly increased in 2023, total stockholder's equity decreased. In 2023, LD Parent, Inc. entered a new credit agreement of nearly $29.5 million to repay an existing loan, resulting in a loss on extinguishment of debt. Additionally, the company has $18 million in related-party notes at a 16% interest rate. No going concern issues were noted by the auditors or management.
Financing Details
ecomaids does not offer any direct or indirect financing to its franchisees. The franchisor also does not guarantee any notes, leases, or other financial obligations for its franchisees.
Performance Metrics
Total US Locations
58
Franchised Units
58
Corporate Units
0
Avg Square Footage
500
Franchising Since
2012
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
No
Litigation Summary
ecomaids has no litigation to report in this document. There are no pending, past, or current material litigation cases or bankruptcy proceedings that are required to be disclosed.
Bankruptcy History
ecomaids has no bankruptcy history to report in this document. There are no bankruptcy proceedings involving the franchisor or its key personnel that are required to be disclosed.
Agreement Terms
Initial Term
10 years
Renewal Term
10 years
Renewal Conditions
To renew their franchise, ecomaids franchisees must adhere to all provisions of their agreement. They are required to refurbish and re-equip each service vehicle, and repair or replace all operational equipment to meet current brand standards. Franchisees must provide ecomaids with written notice of their intent to renew between 6 and 12 months before the initial term expires. Upon approval, they must sign the then-current franchise agreement, which may contain different terms and conditions, including new fee requirements and territorial rights. Additionally, franchisees and their owners must execute a general release of all claims against ecomaids.
Training & Support Program
Franchisor Assistance
Before opening, ecomaids provides specifications, standards, operating procedures, and specialized supplies and equipment for the business. The franchisor offers reasonable guidance in developing the business and provides mandatory training to the franchisee and up to two designated supervisory employees. After opening, ecomaids continues to offer guidance through its operating manual, telephonic conversations, and consultations. Franchisees have access to the operating manual and additional content via a learning management system. ecomaids grants the right to use its trademarks, discloses confidential operational information, and advises on approved suppliers. The franchisor also maintains and administers a Centrally Managed Media Fund to generate leads within the franchisee's territory and a National Marketing Fund for brand development and system-wide marketing programs. ecomaids may also assist franchisees in setting prices for authorized products and services.
Initial Training Hours
70
Training Location
Corporate headquarters in Holmdel, New Jersey, and at a flagship location.
Ongoing Support
After opening, ecomaids provides continuous guidance for the business's operation through its operating manual, telephonic conversations, and consultation at either the franchisor's or the franchisee's office. Franchisees maintain access to the operating manual and additional learning materials. The franchisor manages a Centrally Managed Media Fund dedicated to driving leads within each franchisee's territory and a National Marketing Fund for broader brand development and marketing. ecomaids also reserves the right to assist franchisees with pricing for services and products. Franchisees are required to attend periodic conventions and conferences, paying all associated expenses and a registration fee.
Franchise Requirements
Ideal Candidate Profile
ecomaids seeks qualified individuals who are committed to the brand's mission and core values. Ideal franchisees must be dedicated to promoting their business and devoting their full-time energy and attention to its operation. Franchisees should also be prepared to ensure that any on-premises supervisor successfully completes ecomaids' training program and maintains confidentiality of proprietary information.
Industry Experience Required
No
Management Experience Required
No
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
hybrid
Owner Participation
full-time
Territory Type
non-exclusive
Territory Size Requirements
ecomaids grants a geographic territory that is defined to contain no less than 25,000 single-family residences. If, after four years of operation, a franchisee's market share falls below 70% of the average market share of all ecomaids businesses that have been operating for four or more years, the franchisor may reduce the size of the territory.