Heaven's Best Franchise Cost & Fees
Date of Incorporation: 1983
Franchising Since: 1998
Headquarters: Rexburg, Idaho
Business Description: M-CO Inc. is an Idaho corporation, incorporated for the purpose of franchising the Heaven's Best system of operating carpet, upholstery, wood floor, tile and grout cleaning businesses.
Franchise Offer: The business offered is a Heaven’s Best franchise, which is a carpet, upholstery, tile and grout cleaning business engaged in offering and selling carpet, upholstery, tile and grout cleaning services using a system including services, supplies, equipment, and products under the name and mark “Heaven’s Best.”
Financial Assistance: In some cases M-CO agrees to finance the Initial Franchise Fee. M-CO does not place financing with anyone, nor does it receive any payment for the placement of financing. M-CO does not guarantee franchisees’ obligations to third parties.
Training and Assistance: M-CO conducts a training program for franchisees and subfranchisees at its offices in Rexburg, Idaho, or at such other place as it may designate. The Initial Training Program typically lasts for a period of approximately 4 days and is held at a pre-scheduled time set by M-CO. The Initial Training Program includes information, orientation and instruction on methods of operating the Franchise. M-CO has offered in the past, and may offer in the future, additional periodic training seminars dealing with new methods which are useful to franchisees. Under the Franchise Agreement, franchisees are required to attend such additional training seminars as directed by M-CO.
Territory: The Franchise Agreement provides that franchisees will operate the Franchise within a designated Territory. This restriction has been imposed to permit M-CO INC to properly structure the Heaven’s Best franchise system. The Territory is chosen by the franchisee and approved by M-CO based on such considerations associated with the proposed territory. Most often the Territory consists of one or more political subdivisions like towns, cities, or counties with a minimum population of 20,000 for one licensed territory. Within larger metropolitan areas the Territory may be described by using streets or highways as boundaries. M-CO has not established nor will it establish another franchisee within the Territory which would use the Heaven’s Best trademark or system.
Term of Agreement and Renewal: The length of the franchise term is five years. Renewal or extension of the term is for five-year terms, if requirements are met.
Obligations and Restrictions: If the franchisee is an individual, he/she must directly supervise the franchised business or designate someone who is approved by M-CO. If the franchisee is a corporation, partnership or other entity the supervision must be provided by a “Responsible Party” approved by M-CO. Everyone who operates the Franchise, must have attended and successfully completed the Initial Training Program. The Franchise Agreement provides that franchisees must sell only the products and services approved by M-CO. Franchisees must offer all the products and services which M-CO designates.
Estimated Number of Units: 1,260
|Name of Fee||Low||High|
|Initial Franchise Fee (includes training, equipment, and opening inventory)||$28,900||$28,900|
|Signs and Initial Advertising||$500||$3,000|
|Working Capital (6 months)||$3,000||$10,000|
|Misc. Costs, Including Legal and Insurance||$500||$2,000|
|Type of Fee||Amount|
|Continuing Franchise Fee||$80 per month per licensed territory.|
|Product Purchases||Cleaning and other supplies are purchased according to price list from M-CO; 30day supply of products required.|
|Advertising Fund||No advertising fund exists at the present time.|
|Local Advertising||Local advertising by Franchisee is encouraged, but is at the sole discretion of Franchisee.|
|Late Fees||All orders for products are on a cash basis; therefore late fees do not apply.|
|Training Fees||The cost for training additional personnel will be $1,000 per person.|
The above information has been taken from the FDD of Heaven's Best. Year of FDD: 2014
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