Bloomin Blinds Franchise in 2024: Costs, Fee & FDD
Explore the exciting opportunities with Bloomin’ Blinds! Discover why this franchise, with its innovative mobile model and comprehensive support system, is making waves in the window treatment industry. Learn about costs, earnings potential, and the essential steps to become a franchisee. Dive into our full analysis to see if Bloomin’ Blinds is the right fit for your investment goals.
Table of Contents:
Bloomin’ Blinds was founded by the Stuart family in 2001, with a mission to offer expert window treatment solutions combined with outstanding customer service. The Stuart brothers—Kelsey, Kris, and Kevin—recognized the growing need for a service that could provide not just new blinds but also repair and maintenance services. Their approach was innovative, focusing on a mobile model that brings the service directly to customers, which set them apart in the industry and established Bloomin’ Blinds as a go-to name in window treatments.
Bloomin’ Blinds offers a comprehensive range of products and services, including sales, installation, repair, and cleaning of blinds, shades, and shutters. They cater to a broad market, including residential homeowners, commercial clients, and property managers who value convenience and professional expertise. By offering both new products and repair services, they serve a diverse customer base that ranges from those looking for custom window treatments to those needing repairs for their existing blinds.
As of now, Bloomin’ Blinds operates over 100 franchise locations across the United States. The franchise has maintained steady growth and has become a trusted name in the home services industry. Each location serves its local community while upholding the high standards set by the Stuarts. This expanding network allows them to interact with thousands of customers daily, reinforcing their position as a leader in the blinds and window treatment sector.
Bloomin’ Blinds is known for its strong franchise support system. Franchisees benefit from comprehensive training that covers technical skills, customer service, and business operations. The company also provides ongoing support, marketing assistance, and a collaborative community of franchise owners. This robust support system is designed to help franchisees succeed and grow their businesses, making Bloomin’ Blinds an attractive option for those interested in joining the home services industry.
Bloomin’ Blinds Franchise Insights
- Bloomin’ Blinds has an impressive 40% repeat customer rate, highlighting the strong loyalty and satisfaction among its clientele.
- With a franchise fee of around $50,000 and total startup costs ranging between $106,000 and $182,000, Bloomin’ Blinds offers a relatively low barrier to entry for new franchisees.
- The mobile, home-based model eliminates the need for a brick-and-mortar storefront, significantly reducing overhead costs and providing greater operational flexibility.
- Offering both sales and repair services, Bloomin’ Blinds stands out as one of the few franchises that can generate revenue from multiple streams, catering to a broad customer base.
- The franchise has grown steadily, now with over 100 locations nationwide, indicating a proven and scalable business model.
- As a family-owned business, Bloomin’ Blinds places a strong emphasis on community and support, fostering a collaborative and supportive environment for franchisees.
Bloomin’ Blinds Franchise Key indicators
Unit Growth YOY (%)
15%
vs industry 4%
Total U.S. Franchised Units
103
3-Year Failure Rate
34%
vs industry 13%
Sales-to-Investment ratio
3:1
How much does it cost to open a Bloomin’ Blinds franchise?
Understanding the potential investment size and capital requirements is crucial when considering opening a Bloomin’ Blinds franchise. These financial commitments, including initial franchise fees, equipment costs, and ongoing operational expenses, impact the feasibility and profitability of the venture. Thoroughly evaluating these factors ensures that potential franchisees are prepared for the financial responsibilities and can make informed decisions about their ability to sustain and grow the business, ultimately contributing to long-term success.
Min & Max Investment
Opening a Bloomin’ Blinds franchise involves several key costs, which are outlined in Item 7 of the Franchise Disclosure Document (FDD). You can see a breakdown of the costs to open a Bloomin’ Blinds below from the most recent Item 7 below:
| Type of Expenditure | Minimum Investment | Maximum Investment |
|---|---|---|
| Initial Franchise Fee | $49,500 | $49,500 |
| Start-Up Fee | $30,000 | $30,000 |
| Rent, Utilities, and Leasehold Improvements | $0 | $5,000 |
| Market Introduction Program | $12,000 | $12,000 |
| Furniture, Fixtures, and Equipment | $0 | $500 |
| Insurance | $300 | $3,000 |
| Vehicle | $700 | $55,000 |
| Office Expenses | $500 | $1,000 |
| Inventory | $0 | $0 |
| Licenses and Permits | $0 | $1,500 |
| Professional Fees (lawyer, accountant, etc.) | $400 | $1,500 |
| Travel and Meals for Initial Training | $700 | $1,500 |
| Consumer Financing Subscription | $1,600 | $1,600 |
| Additional Funds (first 3 months) | $10,000 | $20,000 |
| Total Estimated Initial Investment | $105,700 | $182,100 |
Item 7 in the Franchise Disclosure Document (FDD) is the “Estimated Initial Investment” section. It outlines the total costs a franchisee can expect to incur when starting a franchise, including the initial franchise fee, equipment, inventory, real estate, and other startup expenses. This section is crucial because it provides potential franchisees with a detailed understanding of the financial commitment required, helping them assess affordability and plan their investment strategy effectively.
Required Capital
Investing in a Bloomin’ Blinds franchise or a similar one in the home services industry typically requires a certain level of financial preparedness. Here’s what you might need in terms of capital, liquid assets, and net worth:
- Initial Investment The total initial investment required to start a Bloomin’ Blinds franchise typically ranges from $106,000 to $182,000. This covers expenses like vehicle outfitting, inventory, marketing, and equipment necessary to operate a mobile service. Assuming that you will finance your franchise investment, you should plan to have 20% of the total investment amount in the form of equity (cash) for the investment.
- Liquid Assets Requirement Franchisees are generally required to have at least $30,000 to $50,000 in liquid assets. This ensures that you have enough cash on hand to cover startup costs and initial operating expenses before the business becomes self-sustaining.
- Net Worth Requirement A minimum net worth of around $100,000 to $150,000 is often recommended. This figure indicates overall financial stability and the ability to sustain the business through the initial growth phase.
How much does a Bloomin’ Blinds franchise owner make?
Calculating the salary of a Bloomin’ Blinds franchise owner involves analyzing gross sales to determine total revenue, assessing operational efficiency to understand profit margins, and accounting for franchisor fees and additional expenses such as rent, utilities, and payroll. Effective management of these factors can significantly impact the profitability and financial success of a Bloomin’ Blinds franchise owner. This comprehensive financial analysis helps estimate net profits, from which the owner’s salary can be derived. A clear understanding of these factors ensures accurate salary projections and financial planning for sustainable business operations.
Bloomin’ Blinds Revenue & Gross Sales
Based on most recent analysis, Bloomin’ Blinds franchises achieved a median gross sales of $432,194, reflecting a 15% decrease from the previous year. Despite this decline, the franchise continues to perform well within the industry, indicating its ongoing presence and potential for recovery in a challenging market.
Which key factors impact the average revenue performance of Bloomin’ Blinds franchisees?
The decrease in Bloomin’ Blinds’ median gross sales over the past year can be attributed to several factors. Economic shifts, such as inflation and rising interest rates, likely made consumers more cautious with their spending, particularly on non-essential home improvements. Supply chain challenges might have also impacted the availability of materials, leading to delays and affecting overall sales. Additionally, changes in consumer priorities post-pandemic could have shifted focus away from home services. Increased competition in the market might have further influenced the franchise’s ability to maintain previous levels of business.
Bloomin’ Blinds’ Franchise Operational Costs
When opening a Bloomin’ Blinds franchise, it’s essential to factor in several primary operational costs that will impact your day-to-day business. These expenses are crucial for maintaining smooth operations and ensuring customer satisfaction. Key ongoing costs include:
- Vehicle Maintenance and Fuel Since Bloomin’ Blinds operates as a mobile service, keeping your service vehicle in good condition and managing fuel costs will be a significant part of your budget.
- Inventory and Supplies Regularly replenishing blinds, shades, shutters, and repair materials is necessary to meet customer demands and ensure timely service delivery.
- Marketing and Local Advertising While the franchise offers national marketing support, you’ll also need to invest in local advertising to build your brand presence in your specific market.
- Technology and Software Maintaining the franchise’s proprietary CRM system and other tech tools for scheduling, customer management, and financial tracking will be an ongoing expense.
Understanding these operational costs will help you better plan your budget and ensure your Bloomin’ Blinds franchise runs efficiently and profitably.
Bloomin’ Blinds Franchise Fees
When considering the financial commitment of owning a Bloomin’ Blinds franchise, it’s important to understand the ongoing fees that will be a part of your operating budget. These fees are designed to support the franchise network while helping you grow your business effectively.
- Royalty Fee Bloomin’ Blinds requires a royalty fee of 5.5% of your total sales. Starting in the seventh month, there’s a minimum royalty payment of $500 per month per territory, ensuring consistent support for the franchise’s overarching business model and services.
- Brand Development Fund Contribution You’ll need to contribute at least 2% of your total sales or $300 per month per territory (whichever is greater) to the Brand Development Fund. This fund is crucial for maintaining and enhancing the brand’s market presence through strategic marketing and development initiatives.
- Additional Fees There are additional fees for training programs, technology, and other items provided by Bloomin’ Blinds that may be applied.
By understanding and planning for these fees, you’ll be better equipped to manage your finances and maximize the potential of your Bloomin’ Blinds franchise.
Bloomin’ Blinds Franchise Earnings
The earnings of a Bloomin’ Blinds franchise owner can vary depending on factors such as market size, customer demand, and effective management of operational costs. However, based on median gross sales, Bloomin’ Blinds franchisees can expect a respectable income, especially if they are owner-operators actively involved in the business.
Bloomin’ Blinds franchisees have a median gross sales figure of $432,194. Based on this, it’s estimated that an owner-operator could earn around $78,000 in annual earnings (EBITDA). This estimate suggests that, as an owner-operator, you could potentially earn nearly $78,000 per year before interest, taxes, depreciation, and amortization, depending on how efficiently you run the business.
How to Open a Bloomin’ Blinds Franchise
Becoming a Bloomin’ Blinds franchisee involves a well-structured process designed to ensure that you’re fully prepared to run your business successfully. Here’s a step-by-step overview of what you can expect, from your initial inquiry to launching your operations:
- Initial Inquiry You or your franchise specialist submits an initial inquiry basic information about your interest and background. You should also conduct thorough research on the franchise, including seeing all of the information available on the Vetted Biz franchise intelligence platform, including access to the most recent Franchise Disclosure Document (FDD).
- Franchise Application After the initial discussion, you’ll be asked to fill out a franchise application. This application helps the franchisor evaluate your financial background, experience, and suitability as a potential franchisee.
- Discovery Day If your application is approved, you’ll be invited to a Discovery Day. This is an in-depth session where you’ll meet the Bloomin’ Blinds team, learn more about the business model, and get a feel for the company culture.
- Franchise Agreement Once you decide to move forward, you’ll review and sign the Franchise Agreement. This legal document outlines your rights, responsibilities, and the terms of your franchise ownership.
- Training Program Following the agreement, you’ll undergo an intensive training program that covers everything from technical skills in blind repair and installation to business management and marketing strategies.
- Site Setup and Launch With training complete, you’ll set up your mobile business, including vehicle outfitting, inventory purchasing, and any necessary licensing. Once everything is in place, you’re ready to start operations and begin serving customers in your territory.
Pros & Cons
Pros
Low Overhead: As a mobile service, Bloomin’ Blinds doesn’t require a physical storefront, which keeps initial and ongoing costs lower compared to other franchises.
Niche Market: Specializing in both blind repair and sales, Bloomin’ Blinds taps into a unique market with less direct competition, allowing for potentially higher margins.
Flexible Schedule: Operating as a mobile business allows for greater flexibility in your schedule, which can be appealing if you value work-life balance.
Cons
Economic Sensitivity: The home improvement industry can be sensitive to economic downturns, which may impact sales, especially for non-essential services like window treatments.
Physical Demands: As an owner-operator, the job can be physically demanding, involving hands-on work like blind repairs and installations.
Market Saturation Risk: As the franchise expands, there’s a potential risk of market saturation in some areas, which could limit growth opportunities.
