Risk Score
Pending analysis
Investment Range
$159,450 - $215,800
Franchise Fee
$20,000
Min Cash Required
$25,000
Total US Locations
11
Business Summary
Indy Clover Franchising LLC offers franchises to individuals and entities to own and operate an Indy Clover™ retail clothing consignment business. Franchisees provide high-end retail clothing consignment services to the public, utilizing Indy Clover's service marks, trade names, programs, and systems.
Corporate History
Indy Clover Franchising, LLC was organized in Utah on June 29, 2022, and began offering Indy Clover franchises in 2023. Its parent company, Indy Clover LLC, was formed in April 2022 and operates a company-owned Indy Clover store in Lindon, Utah. Indy Clover Franchising LLC also has affiliates that provide wholesale consignment products and assist franchisees with initial purchases of fixtures, furnishings, equipment, signage, and inventory. Other affiliates also operate Indy Clover businesses.
Financial Overview
Investment Range
$159,450 - $215,800
Franchise Fee (Low)
$20,000
Franchise Fee (High)
$25,000
Minimum Cash Required
$25,000
Royalty %
5%
Equipment Costs (Low)
$75,000
Equipment Costs (High)
$75,000
Working Capital
$27,500
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
Indy Clover Franchising LLC's June 30, 2023 financial statements were audited and received an unqualified opinion from the independent auditor, indicating that the financial statements present fairly, in all material respects, the company's financial position and results of operations. There are no concerns noted regarding the company's ability to continue as a going concern.
Financing Details
Indy Clover Franchising LLC does not offer or provide any direct or indirect financing to its franchisees. Indy Clover Franchising LLC also does not finance or guarantee any franchisee notes, leases, or other financial obligations.
Performance Metrics
Total US Locations
11
Franchised Units
9
Corporate Units
2
Avg Square Footage
3,125
Franchising Since
2023
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
No
Litigation Summary
Indy Clover Franchising LLC has no litigation that is required to be disclosed in Item 3 of its Franchise Disclosure Document.
Bankruptcy History
Indy Clover Franchising LLC has no bankruptcy history that is required to be disclosed in Item 4 of its Franchise Disclosure Document.
Agreement Terms
Initial Term
10 years
Renewal Term
10 years
Renewal Conditions
To renew their Indy Clover franchise, franchisees must notify Indy Clover Franchising LLC in writing at least three months, but no earlier than six months, before the initial agreement expires. Franchisees must be in good standing, faithfully perform under the initial agreement, refurbish the franchise and replace obsolete equipment, sign a general release, sign a new franchise agreement (which may have materially different terms), and pay a renewal fee of up to $2,500. Additionally, the franchisee or their designated manager must complete any prescribed retraining programs at their own expense.
Training & Support Program
Franchisor Assistance
Before opening, Indy Clover Franchising LLC provides site selection guidelines and assistance, reviews and approves lease agreements, provides access to its Operations Manual and brand standards, and offers an initial 5-day orientation and training program for the franchisee, owners, and manager. It also provides a smartphone/tablet application or designated software for point-of-sale and customer relationship management, and cloud-based resources for lead management. After opening, Indy Clover Franchising LLC offers continuing advice and guidance on product selection, employee hiring and training, national marketing programs, operational procedures, system improvements, and financial consultation. It also provides refresher training programs, inspects franchises for compliance, and may inspect supplier facilities.
Initial Training Hours
40
Training Location
Lindon, Utah
Ongoing Support
After opening, Indy Clover Franchising LLC provides continuing advice and guidance on selecting, purchasing, stocking, and displaying products and supplies; hiring and training employees; developing and implementing national marketing and promotional programs; establishing and maintaining administrative and general operating procedures; improving the system with new products and services; and offering financial advice and consultation. Franchisees can request additional training at Indy Clover's training center or other approved locations for a fee of $300 per day plus travel expenses. Indy Clover may also provide refresher training programs and seminars, requiring franchisees or managers to attend up to 20 hours annually, with franchisees covering all travel and living expenses. Indy Clover also administers its marketing program and inspects franchises to ensure compliance with standards and consistent quality.
Franchise Requirements
Ideal Candidate Profile
Indy Clover Franchising LLC is looking for qualified individuals and entities to operate its franchises. The ideal candidate, or one of their owners (if a business entity), is required to participate fully in the actual day-to-day operation of the franchise business. Individual franchisees must devote their full time and best efforts to the business. After three months of operations, a designated manager can assume day-to-day responsibilities, provided they successfully complete the mandatory training program.
Industry Experience Required
No
Management Experience Required
No
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
retail
Owner Participation
Hands-On
Territory Type
Non-Exclusive
Territory Size Requirements
Indy Clover Franchising LLC defines the Franchise Territory around an approved location, typically as a 5 driving-mile radius. This radius may be limited in major metropolitan downtown areas, densely populated areas, or non-traditional locations based on Indy Clover's discretion. The size can vary based on the location and demographics, and boundaries might be defined by topographical features, zip codes, city or county lines, or other map delineations. For multi-unit purchasers, a larger territory may be provided, defined by contiguous trade areas based on driving-mile distance from the first franchise or by specific cities, postal codes, or other political subdivisions or boundaries.
Staffing Notes
Indy Clover Franchising requires that the franchisee or one of their owners actively participate in the day-to-day operation of the Indy Clover business. After three months of operations, with franchisor approval, the franchisee may designate a manager to assume daily responsibilities. All managers and crew leaders must successfully complete the mandatory training program. Indy Clover does not impose restrictions on who can be a manager but advises reasonable care in selection. Franchisees must hire and maintain sufficient, efficient, competent, sober, and courteous staff to handle customer volume. Employees must meet grooming and training standards, which may include background checks and drug testing. Employees who have been found guilty of fiduciary misconduct, unlawful sexual conduct, felonies, or similar charges reflecting negatively on their character cannot be hired.