Furniture Medic Franchise
Audited FinancialsRisk Score
Pending analysis
Investment Range
$86,945 - $145,250
Franchise Fee
$45,000
Total US Locations
107
Business Summary
Furniture Medic offers franchises for furniture and wood restoration, repair, fabrication, and refinishing businesses. These businesses provide services for both residential and commercial customers, including precision repair, moving claims repair, wood polishing, millwork, re-upholstery, and hardwood floor repair. Furniture Medic franchisees also handle restoration and repair services resulting from water and fire damage. The services are marketed to various clients such as homeowners, hotels, moving companies, antique dealers, and insurance companies. Franchisees operate mobile services using branded vehicles and can choose to use their home as an initial base of operation.
Corporate History
TCB Furniture Medic, LLC, the current franchisor, was formed in Delaware in March 2023. The Furniture Medic® franchise system itself has a longer history, with predecessors offering franchises since December 1992. The immediate predecessor, FURNITURE MEDIC SPE LLC, offered franchises from March 2021 to March 2023. Prior to that, Furniture Medic Limited Partnership offered franchises from December 1992 to December 2020. On March 31, 2023, TCB Services HoldCo, LLC, an affiliate of Eagle Merchant Partners, acquired control of the Furniture Medic system. As part of this acquisition, TCB Furniture Medic, LLC became the franchisor and assumed all existing franchise agreements and related intellectual property.
Financial Overview
Investment Range
$86,945 - $145,250
Franchise Fee (Low)
$45,000
Franchise Fee (High)
$50,000
Royalty %
7%
Marketing %
2%
Equipment Costs (Low)
$8,500
Equipment Costs (High)
$41,900
Working Capital
$30,000
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
TCB Services HoldCo, LLC and Subsidiaries, the guarantor, reported net losses of approximately $3.18 million in 2023 and $5.98 million in 2024. The company's auditors issued an unqualified opinion on the consolidated financial statements, indicating that they present fairly in all material respects. It was also noted that the 2023 financial statements were restated to correctly identify and value intangible assets acquired in business combinations. As of December 31, 2024, the company maintained a positive working capital of approximately $80,094, with current assets of $4,304,195 and current liabilities of $4,224,101.
Financing Details
Furniture Medic does not offer any direct or indirect financing to its franchisees, nor does it guarantee any franchisee's notes, leases, or other obligations. However, Furniture Medic may refer prospective franchisees to banks and third-party lenders for financing the initial franchise fee and for other franchise growth initiatives. Furniture Medic states it has no formal arrangements with these lenders and does not receive any benefits from these referrals.
Performance Metrics
Total US Locations
107
Franchised Units
107
Corporate Units
0
Franchising Since
1992
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
No
Litigation Summary
Furniture Medic has no litigation history to report as no litigation is required to be disclosed in this Item.
Bankruptcy History
Furniture Medic has no bankruptcy history to report as no bankruptcy information is required to be disclosed in this Item.
Agreement Terms
Initial Term
5 years
Renewal Term
5 years
Renewal Conditions
To renew their franchise agreement, Furniture Medic franchisees must provide written notice of their intent to renew 6 to 12 months before the current agreement expires. They must sign the then-current form of franchise agreement, which may include materially different terms, including a potentially increased Royalty Fee. Franchisees, their affiliates, and owners must execute a general release in favor of Furniture Medic. They must not have received four or more written notices of a material breach of their agreement, regardless of whether the breaches were corrected. All monetary obligations due to Furniture Medic must be satisfied, and the franchisee must agree to operate the business according to Furniture Medic's current standards. Finally, a renewal fee of $2,000 is required, though certain franchisees who purchased their business before January 1, 2015, and maintain consistent ownership, may be exempt from this fee.
Training & Support Program
Franchisor Assistance
Before opening, Furniture Medic grants a nonexclusive territory, approves an office location, provides a list of designated suppliers for initial equipment and supplies, offers an initial training program, and makes marketing materials and the Service Vehicle Detail Package available. Franchisees also gain access to Furniture Medic's confidential Intranet, which contains the Operations Manual. On an ongoing basis, Furniture Medic continues to provide supplies and equipment or approved suppliers, updates marketing literature and the Operations Manual, offers additional training for replacement managers and new services, manages the National Accounts Program and evaluates participation in the MRN, manages the National Advertising Fund, and maintains the Furniture Medic System website. Additionally, Furniture Medic provides a telephone inquiry line for technical advice, business development, product information, and marketing/sales assistance, along with a monthly newsletter.
Initial Training Hours
133
Training Location
Online/virtual and Franchisor's Training Center, Memphis, TN
Ongoing Support
After opening, Furniture Medic provides ongoing support by providing or designating approved suppliers for supplies and equipment, updating marketing literature and the Operations Manual periodically, and offering additional training for replacement managers and for new franchised services. Furniture Medic manages the National Accounts Program, allocating customer referrals to franchisees at its discretion. It also evaluates and potentially approves franchisees for participation in the Medic Restoration Network (MRN), which also distributes leads. Furniture Medic manages the National Advertising Fund, overseeing advertising and marketing programs, and maintains the Furniture Medic System website, which includes franchisee locations. Additionally, Furniture Medic provides a telephone inquiry line for technical advice, business development, and marketing assistance, and publishes a monthly newsletter with helpful information and updates.
Franchise Requirements
Ideal Candidate Profile
Furniture Medic seeks franchisees who are prepared to devote their full time, energy, and best efforts to managing and operating the Furniture Medic business. If a franchisee cannot personally supervise, they must employ a qualified manager who will do so. Candidates must be capable of ensuring the quality and results of the franchised services, operating the business according to sound business principles, and complying with all applicable federal, state, and local laws and regulations, including those related to occupational safety (OSHA), environmental protection (EPA), and various licensing requirements (e.g., contractor's, upholsterer's, specific millwork licenses). Furniture Medic franchisees need strong management skills to hire, train, and supervise employees effectively, ensuring adherence to the system's standards. They should also possess adequate financial resources to cover the estimated initial investment and operating expenses, as the franchisor does not provide financing.
Industry Experience Required
No
Management Experience Required
Yes
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
Hybrid
Owner Participation
Full-Time
Territory Type
Non-Exclusive
Staff Count
1
Staffing Notes
Furniture Medic requires the franchisee owner to dedicate their full time, energy, and best efforts to managing and operating the business, unless written approval for other arrangements is granted. If the owner does not personally supervise, they must employ a manager responsible for direct, on-premises supervision. This manager must have successfully completed the Initial Training and be approved by Furniture Medic based on their management experience and qualifications. Franchisees are solely responsible for hiring, training, and supervising all employees and independent contractors, ensuring they comply with all applicable labor laws. This includes conducting background checks and drug testing as legally permitted. Furniture Medic emphasizes that it does not control employee hiring, discipline, or termination decisions, and franchisees are the sole employers of their staff.