Mint Condition Franchise
Audited FinancialsRisk Score
Pending analysis
Investment Range
$117,595 - $718,820
Franchise Fee
$75,600
Min Cash Required
$5,000
Total US Locations
15
Business Summary
Mint Condition offers master franchises that specialize in janitorial and building maintenance services for commercial buildings. As a Master Franchisee, Mint Condition allows individuals to sell unit franchises to others who will then provide cleaning and maintenance services to customers. Master Franchisees also find and manage customer accounts for their unit franchisees.
Corporate History
Mint Condition Franchise Group, LLC was organized on January 6, 2022. However, the company's business activities, including offering Mint Condition franchised businesses, began in December 1996 under its predecessor, Mint Condition of Charlotte, Inc. The predecessor was originally incorporated as Mint Condition Franchising, Inc. in North Carolina on October 16, 1996, and also offered franchises before changing its name on January 1, 2022. The current franchisor and its affiliate are wholly owned by Mint Condition Holdings, LLC, which was organized on January 5, 2022.
Financial Overview
Investment Range
$117,595 - $718,820
Franchise Fee (Low)
$75,600
Franchise Fee (High)
$641,540
Minimum Cash Required
$5,000
Royalty %
4%
Marketing %
0.75%
Equipment Costs (Low)
$1,400
Equipment Costs (High)
$3,000
Working Capital
$17,500
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
The independent auditor has issued an unqualified opinion on Mint Condition Franchise Group, LLC's financial statements, indicating fair presentation of its financial position. The company reported a net income of 209,394 for the year ended December 31, 2024, and its cash balances exceeded FDIC insurance limits without any losses. Management also implemented accounting changes in January 2024 related to revenue recognition and deferred contract costs, resulting in prior period adjustments to contract liabilities, deferred contract costs, and retained earnings.
Financing Details
Mint Condition Franchise Group, LLC does not offer direct or indirect financing to its master franchisees. The company also does not guarantee any notes, leases, or other obligations for its franchisees.
Performance Metrics
Total US Locations
15
Franchised Units
14
Corporate Units
1
Avg Square Footage
170
Franchising Since
2004
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
No
Litigation Count
5
Litigation Summary
Mint Condition has disclosed five litigation cases, all of which were resolved between 2015 and 2016. These cases were filed by existing or former Mint Condition franchisees between 2014 and 2016, alleging various claims including breach of contract, fraud, unjust enrichment, unfair trade practices, breach of fiduciary duty, tortious interference with contract, and conversion. In the Willis lawsuit, one plaintiff settled for 8,910, and after a re-filing, a jury found both parties breached the agreement, with Mint Condition paying 11,443 and receiving 3,105 from the franchisee. Other lawsuits with Cornelius Harp, Renand Codio, Reginald and Ida Richmond, and Deborah Ellis were settled with payments ranging from 2,000 to 7,250 and subsequently dismissed. Mint Condition has no ongoing or recent litigation to report.
Bankruptcy History
Mint Condition has no bankruptcy history to report for the franchisor, its predecessors, parents, affiliates, or principal officers.
Agreement Terms
Initial Term
10 years
Renewal Term
10 years
Renewal Conditions
To renew their Mint Condition Master Franchise Agreement, franchisees must be in full compliance with all existing agreements, sign the then-current form of the Master Franchise Agreement (which may have different terms, including increased royalties and national advertising fund contributions), ensure their location and equipment meet current standards, have the right to renew their office lease, and have themselves and their owners sign general releases of claims. Additionally, franchisees must pay a successor agreement fee equal to 10% of the then-current Initial Master Franchise Fee.
Training & Support Program
Franchisor Assistance
Mint Condition provides a range of assistance to its master franchisees. Before opening, Mint Condition helps with office site selection, furnishing, and equipping, and conducts initial training for the master franchisee and one other person at its Fort Mill, SC, headquarters for up to 10 business days. It also provides guidance on initial inventory, supplies, advertising, and operations, along with lists of approved equipment and suppliers. A confidential Master Franchise Operations Manual is loaned to the franchisee. After opening, Mint Condition offers on-site assistance, continuing training courses, periodic inspections, updated supplier lists, and ongoing advice. It also provides templates for creating Unit Franchise Disclosure Documents and Unit Franchise Agreements. Master franchisees are required to purchase and use specific computer systems and software. Mint Condition does not have a separate national advertising program for master franchisees but requires them to contribute 0.75% of their gross revenues to a National Advertising Fund for system-wide advertising and marketing. Master franchisees must also spend minimum amounts monthly (1,800 for new cleaning accounts and 1,250 for recruiting unit franchisees) on local marketing, all subject to Mint Condition's prior approval.
Initial Training Hours
84
Training Location
Corporate headquarters in Fort Mill, South Carolina, and on-site at the franchisee's location.
Ongoing Support
After a Mint Condition Master Franchise opens, the company provides ongoing support including on-site assistance for a period, access to continuing training courses, and periodic inspections of the master franchised business. Mint Condition also provides updated lists of approved equipment and supplies, and offers regular advice and guidance through meetings, printed materials, and other media. Additionally, the company can provide templates for master franchisees to create their own Unit Franchise Disclosure Documents and Unit Franchise Agreements. Mint Condition may also form advisory councils for system improvement.
Franchise Requirements
Ideal Candidate Profile
Mint Condition seeks qualified individuals who are willing to personally participate in the direct, day-to-day operations of their master franchise business for the first five years. Ideal candidates must also own a majority of the equity in the business, as Mint Condition believes this ensures quality and competence standards are maintained.
Industry Experience Required
No
Management Experience Required
No
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
commercial
Owner Participation
full-time
Territory Type
protected
Staff Count
2
Territory Size Requirements
Mint Condition Master Franchise territories are defined as a geographical area, which can be a state, county, or other political subdivision. If a county is too large, the territory may consist of a series of contiguous zip codes or a Metropolitan Statistical Area, as determined by Mint Condition. The final size and boundaries are negotiated, taking into consideration population and its density.
Staffing Notes
Mint Condition Master Franchisees must ensure their business is always managed by someone who has successfully completed Mint Condition's training program, or by the Master Franchisee or their designated representative. If no such trained individual is available or if the Master Franchisee is unable to manage the business effectively, Mint Condition may provide a temporary manager for a fee. Additionally, Master Franchisees are required to maintain a staff of trained employees sufficient to operate the business in compliance with Mint Condition's standards.