Window Genie logo

Window Genie Franchise

Audited Financials
Home ServicesEst. 1997Waco, TX
www.windowgenie.com
Financing Available

Risk Score

Pending analysis

Investment Range

$125,600 - $300,000

Franchise Fee

$32,000

Total US Locations

103

Business Summary

Window Genie operates a specialized business that provides window cleaning, pressure washing, holiday lighting, gutter cleaning, and window tinting services. Window Genie also offers additional services like deck cleaning and sealing, gutter re-securing, concrete and paver cleaning and sealing, and house washing. These services are provided to residential and small commercial markets, while window tinting is also offered to high-rise commercial clients.

Corporate History

The Window Genie brand originated with its predecessor, FOR Franchising, LLC, which was established in Ohio in 1997 and began offering Window Genie franchises in 1998. In 2016, Dwyer Franchising LLC, also known as Neighborly, acquired FOR Franchising LLC. Later, in November 2020, Window Genie SPV LLC was organized in Delaware and became the franchisor for all Window Genie businesses in March 2021 as part of a securitization financing transaction. In August 2021, Nest Bidco Inc., controlled by investment funds affiliated with Kohlberg Kravis Roberts & Co. L.P. (KKR), became the indirect parent company of Window Genie SPV LLC.

Financial Overview

Investment Range

$125,600 - $300,000

Franchise Fee (Low)

$32,000

Franchise Fee (High)

$47,500

Royalty %

7%

Marketing %

2%

Equipment Costs (Low)

$25,800

Equipment Costs (High)

$58,300

Working Capital

$65,950

Audited Financials

Yes

Offers Financing

Yes

Audit Opinion

Unqualified opinion

Financial Health Notes

Window Genie SPV LLC's financial performance is guaranteed by its direct parent, Neighborly Assetco LLC. The financial statements for Neighborly Assetco LLC and its subsidiaries show consistent positive net income and strong member's equity for the years ended December 31, 2024, and 2023. The company also maintains a healthy current ratio, indicating sufficient current assets to cover current liabilities. The independent auditor provided an unqualified opinion, with no substantial doubt raised about the company's ability to continue as a going concern. While a broader parent company, Neighborly Company (which does not guarantee Window Genie's obligations), reported net losses and a significant goodwill impairment in 2023, the guarantor entity for Window Genie appears financially sound and compliant with its debt covenants.

Financing Details

Window Genie may, at its sole discretion, offer to finance a portion of the initial franchise fee for qualified prospective franchisees. This financing can cover up to 70% of the initial franchise fee, and potentially up to 80% for those meeting specific requirements. Interest rates for this financing range from 9% to 12% annually, depending on the franchisee's credit score (9% for scores of 700 or more, up to 12% for scores under 600). Repayment terms vary based on the loan amount, typically ranging from up to 5 years for loans less than $45,000 to up to 9 years for loans greater than $150,000. Franchisees must provide a security interest in their business assets, and owners of legal entities may be required to personally guarantee the debt, with a spouse's guarantee also possibly required. Loan payments will begin approximately two months after completing the initial training program and are made via automatic bank draft. Window Genie does not currently earn income from referring franchisees to third-party lenders, though this policy could change in the future. In limited circumstances, Window Genie may also offer to finance a portion of the renewal fee at a 12% interest rate for qualified franchisees.

Performance Metrics

Total US Locations

103

Franchised Units

103

Corporate Units

0

Franchising Since

1998

Agreement Terms

Initial Term

10 years

Renewal Term

10 years

Renewal Conditions

To renew their franchise agreement, Window Genie franchisees must not be in default of their current agreement, must have satisfied all monetary and other material obligations on time, and must be in good standing, having received no more than two written notices of default during the term. Franchisees must not have failed to meet the Minimum Performance Standards for any two calendar years or measurement periods during the term. They must also provide written notice of their intent to renew between 180 and 240 days before the current term ends. Additionally, franchisees and their guarantors are required to sign a general release of claims, pay a renewal fee of $5,000, complete all then-current training requirements, and sign the current version of the franchise agreement, which may include materially different terms, conditions, and fees.

Training & Support Program

Franchisor Assistance

Window Genie provides comprehensive support to its franchisees. Before opening, the franchisor offers guidance on site selection, provides a list of approved supplies, an Operations Manual with detailed procedures, and initial training programs. Franchisees also receive opening support for their business. On an ongoing basis, Window Genie maintains a Marketing, Advertising and Promotion (MAP) Fund, regularly updates approved supplier lists, and researches new products and services. Franchisees receive periodic on-site visits for consultation, refresher training courses, and are required to attend annual regional meetings and conventions. The franchisor also provides continuous communication, support, and updates to the Operations Manual. Window Genie may offer suggestions on pricing policies and negotiate Key Account arrangements. Franchisees must participate in a Call Center Program and use a specific Computer System for operations and reporting, and have access to the system website and intranet for communications and data sharing.

Initial Training Hours

256

Training Location

Waco or Dallas, Texas, or an existing franchisee's office, or virtually

Ongoing Support

After opening, Window Genie franchisees receive continuous support including maintaining the Marketing, Advertising and Promotion Fund, updating lists of approved supplies and suppliers, and researching new products and services. The franchisor conducts periodic visits to provide consultation and guidance, and requires franchisees to attend refresher training courses, regional meetings, and annual conventions, for which a fee may be charged. Ongoing communication and support, along with updates to the Operations Manual, are also provided. Franchisees are required to participate in a Call Center Program for customer inquiries and use a designated Computer System and System Website, Intranet, and Electronic Communications for various operational and marketing functions.

Franchise Requirements

Industry Experience Required

No

Management Experience Required

No

Sales Experience Required

No

Technical Skills Required

No

Operational Details

Location Type

Hybrid

Owner Participation

Hands-On

Territory Type

Protected

Territory Size Requirements

Window Genie territories are generally defined by up to 50,000 qualified households. Franchisees can purchase larger territories beyond 50,000 qualified households for an additional fee of $0.50 per qualified household, up to a maximum initial franchise fee of $47,500 for a territory of 65,000 qualified households. A smaller 'Rural Franchise' may be granted for territories with at least 20,000 but not more than 40,000 qualified households, provided the area is not within a standard metropolitan statistical area. Qualified households are defined as those with an annual household income greater than $125,000, with an increased threshold of $150,000 in specific states like Hawaii, Washington, Oregon, Maryland, Massachusetts, the District of Columbia, California, New York, Alaska, and New Hampshire.