Renew Medic Franchise
Audited FinancialsRisk Score
Pending analysis
Investment Range
$398,021 - $1,099,326
Franchise Fee
$60,300
Min Cash Required
$75,000
Total US Locations
8
Business Summary
Renew Medic grants franchises for a specialty mitigation, restoration, transformation, re-sale, and manufacturing business. Renew Medic businesses primarily perform residential and commercial cabinet repair, restoration, renewal, transformation, and manufacturing services. They may also engage in new cabinet manufacturing and provide residential wood repair services. These services are marketed mainly to homeowners, business owners, and insurance companies.
Corporate History
Renew Medic Franchising, LLC was formed in December 2023 as a Delaware limited liability company and began offering Renew Medic franchises on April 18, 2024. The company is a direct subsidiary of TCB Services Holdings, LLC and an indirect subsidiary of TCB Services HoldCo, LLC, an affiliate of Eagle Merchant Partners. Renew Medic does not operate its own businesses but has affiliates that do. The brand is relatively new, having started franchising in 2024.
Financial Overview
Investment Range
$398,021 - $1,099,326
Franchise Fee (Low)
$60,300
Franchise Fee (High)
$100,000
Minimum Cash Required
$75,000
Royalty %
7%
Marketing %
2%
Equipment Costs (Low)
$203,000
Equipment Costs (High)
$400,000
Working Capital
$112,500
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
Renew Medic Franchising, LLC is a newly formed company, established in December 2023, and only began offering franchises in April 2024, resulting in a limited operating history. The FDD highlights a special risk: the franchisor's financial condition, as reflected in its financial statements, calls into question its ability to provide services and support to franchisees. The company reported a net income of $14,015 for the year ended December 31, 2024, with total assets of $278,654 and total liabilities of $264,639, leaving modest member's equity of $14,015. While the independent auditor issued an unqualified opinion, their responsibilities include evaluating if conditions raise substantial doubt about the company's ability to continue as a going concern.
Financing Details
Renew Medic does not offer any direct or indirect financing to franchisees. It also does not guarantee any notes, leases, or other obligations. However, Renew Medic may refer prospective franchisees to banks and third-party lenders that have relationships with the franchisor for financing initial franchise fees and growth initiatives. Renew Medic does not have formal arrangements with these lenders and receives no benefits from such referrals.
Performance Metrics
Total US Locations
8
Franchised Units
4
Corporate Units
4
Avg Square Footage
7,500
Franchising Since
2024
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
No
Litigation Summary
Renew Medic has no litigation to report, as no litigation is required to be disclosed in Item 3 of the FDD.
Bankruptcy History
Renew Medic has no bankruptcy history to report, as no bankruptcy information is required to be disclosed in Item 4 of the FDD.
Agreement Terms
Initial Term
10 years
Renewal Term
10 years
Renewal Conditions
To renew their Renew Medic franchise for an additional 10-year term, franchisees must provide written notice between 6 to 12 months before their current agreement expires. They must sign the then-current franchise agreement, which may have materially different terms, including a potentially increased royalty fee. Franchisees, their affiliates, and owners must also sign a general release and must not have received four or more written notices of a material breach during the initial term. All monetary obligations must be satisfied, and the franchisee must agree in writing to operate according to Renew Medic's then-current standards. A renewal fee of $5,000 is also required.
Training & Support Program
Franchisor Assistance
Renew Medic provides pre-opening assistance by granting a non-exclusive territory and approving an office location, designating approved suppliers for initial equipment and supplies, and making initial training available. Franchisees also receive marketing materials, access to the franchisor's Intranet (which contains the Operations Manual), and the Service Vehicle detail package. Ongoing assistance includes providing or designating approved suppliers, updating marketing literature and the Operations Manual, offering additional training, managing the National Accounts Program, determining MRN participation, managing the National Advertising Fund, and maintaining the Renew Medic website.
Initial Training Hours
120
Training Location
A combination of online pre-training and in-person training at the franchisor's training center in Memphis, TN, or other designated locations, with virtual options available.
Ongoing Support
After opening, Renew Medic franchisees receive ongoing assistance including updates to approved suppliers and marketing materials, periodic revisions to the Operations Manual via the Intranet, and additional training for replacement managers or new services. Renew Medic also manages the National Accounts Program and the National Advertising Fund, and it maintains the System's website, which includes the franchisee's business information. Additionally, the franchisor typically provides a telephone inquiry line for technical advice, business development, product information, and marketing assistance, along with a monthly newsletter.
Franchise Requirements
Ideal Candidate Profile
Renew Medic expects its franchisees to be dedicated, requiring them to devote their full time, energy, and best efforts to the management and operation of the Franchised Business. If a franchisee is unable to personally supervise the business, they must employ a manager who will be directly responsible for on-premises supervision. This manager must successfully complete the franchisor's Initial Training and meet Renew Medic's commercially reasonable assessment of their management experience, qualifications, and ability to maintain brand standards. Owners with 10% or more equity are required to sign a personal guarantee of obligations.
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
5
Territory Size Requirements
Renew Medic territories are determined based on population, number of single-family households, geographic boundaries, and market potential. For a Traditional Franchise, a territory is anticipated to have at least approximately 250,000 single-family households or a population exceeding 1,000,000 people. For a Small-Market Franchise, the territory is anticipated to have between approximately 125,000 to 250,000 single-family households or a population exceeding 500,000 people.
Staffing Notes
Renew Medic franchisees are responsible for hiring, training, and supervising their own employees and independent contractors, ensuring sufficient personnel to operate the business according to the franchisor's standards. If the owner does not personally supervise the business, a manager must be employed who will be responsible for direct, on-premises supervision and must have completed the Initial Training. Franchisees must properly train all personnel, comply with all applicable labor laws, conduct full background checks on prospective employees (excluding anyone with a felony conviction for MRN-related jobs), and pay all payroll contributions, taxes, and assessments. They must also clearly communicate to employees that the franchisee, not Renew Medic, is their employer.