Start a Friend of the Family Franchise in 2024

Franchise 500 Rank: N/R Not ranked last year

Initial investment: $37K - $56K

Units as of 2020: 5

Friend of the Family was founded in 2005 based on suggestions of real estate clients who had to move from their homes. Friend of the Family’s main goal is to provide people with an efficient and stress-free move, as the Friend of the Family team strives to take care of it from start to end.

With a well-trained staff, the company aims to offer hands-on help to clients who are moving. Also, each project has its own project manager. Friend of the Family services include asset distribution, downsizing and organizing, and relocation project management. The company helps families and individuals, as well as seniors who wish to move and settle into a new place.

Why You May Want To Start a Friend of the Family Franchise

Friend of the Family may be a great fit for franchisees who are organized, practical, and enjoy dealing with demanding tasks. To own a Friend of Family franchise, there’s no need to have previous experience in real estate or any other field.

If awarded a franchise, franchisees may receive a great deal of support from the Friend of the Family brand throughout the franchising process. In addition to pre-opening training, franchisees receive support through brand awareness, marketing, research, and construction. They also receive hands-on training and continued support after their franchise location has opened.

What Might Make a Friend of the Family Franchise a Good Choice?

Besides helping people with their moving and settling into their new homes, Friend of the Family also strives to act as leaders in online estate sales by supporting people who want to sell old or undesired objects and later using this money to pay partially for their moves.

Opening a Friend of the Family franchise may offer a more predictable outcome than investing in a completely new brand that could struggle to thrive in an already crowded and competitive industry.

How To Open a Friend of the Family Franchise

To be part of the Friend of the Family team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising fees and royalty fees.

Before making any financial commitment or signing an agreement, it is crucial that you perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Friend of the Family franchising team questions.

As you decide if opening a Friend of the Family franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Friend of the Family franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.

It may be a good idea to speak with an attorney or financial advisor to ensure that you have the necessary financial resources to own and operate a Friend of the Family franchise.

Company Overview

About Friend of the Family

Related Categories	Miscellaneous Services
Founded	2005
Parent Company	FOF Franchising LLC
Leadership	Kathy Grossmann, CEO
Corporate Address	5231 S. Quebec St. Greenwood Village, CO 80111
Social	Facebook, Twitter, Instagram

Business Overview

Franchising Since	2019 (5 years)
# of employees at HQ	6
Where seeking	This company is offering new franchises throughout the US.
# of Units	5 (as of 2020)

Information for Franchisees

Here's what you need to know if you're interested in opening a Friend of the Family franchise.

Financial Requirements & Ongoing Fees

Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee Definition: The initial fee paid to a franchisor to join their system What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.	$35,000 - $45,000
Initial Investment Definition: The total amount necessary to begin operation of the franchise What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.	$36,949 - $55,650
Veteran Incentives Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.	10% off franchise fee
Royalty Fee Definition: A ongoing fee paid to the franchisor on a regular basis. What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.	16-3%
Ad Royalty Fee Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts. What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.	1%
Term of Agreement Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.	5 years
Is franchise term renewable?	Yes

Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

In-House Financing	Friend of the Family offers in-house financing to cover the following: franchise fee

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

Classroom Training	18 hours
Ongoing Support	Purchasing Co-ops Newsletter Meetings & Conventions Toll-Free Line Grand Opening Online Support Security & Safety Procedures Field Operations Proprietary Software Franchisee Intranet Platform
Marketing Support	Co-op Advertising Ad Templates National Media Regional Advertising Social Media SEO Website Development Email Marketing Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed?	No
Can this franchise be run from home/mobile unit? Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.	Yes
Can this franchise be run part time? Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.	Yes
Are exclusive territories available? Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.	Yes