Franchising Since: 1976
Headquarters: Clearwater, Florida
Estimated Number of Units: 305
Franchise Description: Pinch A Penny, Inc. is the franchisor. The franchisor offers franchises for the operation of a business relating to the operation of retail businesses and outlets which are authorized to: (1) sell at retail a full range of swimming pool supplies, products and equipment, patio furniture and related items; and (2) offer, sell and provide pool and spa janitorial cleaning, maintenance and repair services at private residential customer locations.
Training Overview: The franchisor provides training to franchisees (or their majority owner) or their designated operating partner who the franchisor has approved, and such other management personnel franchisees select that the franchisor has approved. The franchisor will provide a minimum of 120 hours of training, which the franchisor will conduct during a four-week period prior to the franchisee commencing operations at its headquarters in Clearwater, Florida, or at another location the franchisor specifies. Franchisees also must participate in all other activities required to open the store. The franchisor provides franchisees with at least five days training at their store during the first 60 days of opening. The franchisor may increase the minimum hours of training at its sole and absolute discretion. The franchisor will provide additional training for such periods and at such locations as may be designated by the franchisor.
Territory Granted: The franchisor grants Pinch A Penny store franchises for a specific location that it approves.
Obligations and Restrictions: Franchisees must at all times faithfully, honestly and diligently perform their obligations under the Franchise Agreement, continuously exert their best efforts to promote and enhance the franchised business, and not engage in any other business or activity that conflicts with their obligations to operate the franchised business in compliance with the Franchise Agreement and the franchisor’s standards and specifications.
Term of Agreement and Renewal: The length of the initial franchise term is five years. If franchisees are in good standing, franchisees can renew or extend the term of their franchise on the then-current terms for three additional successive five-year terms.
Financial Assistance: Franchisees may qualify for financing from the franchisor for up to 80% of the initial investment for a new Pinch A Penny store.
Estimated Initial Investment
| Name of Fee | Low | High |
| Initial Franchise Fee | $60,000 | $60,000 |
| ESTIMATED TOTAL* | $519,925 | $837,200 |
Other Fees
| Type of Fee | Amount |
| Royalty | 6% of weekly gross volume of business. |
| Advertising Fee | 4% of weekly gross volume of business. |
Franchise Direct's Disclaimer