More Space Place
Veteran’s Incentive Program
More Space Place® Franchise is actively seeking the best candidates for ownership of our More Space Place retail stores. Organized, hard-working and dedicated Veteran Owners are excellent candidates. To demonstrate our appreciation, honorably-discharged Veterans will receive a $12,000 DISCOUNT off of their initial store. In relation to our initial franchise fee of $29,500, our MSP Veteran Transition Plan (VTP) represents a substantial 40% discount!
Valid through 2011.
OUR COMPANY
More Space Place® is a franchise system built upon “organizational, space-saving” retail furniture stores.The franchise got its start with a license agreement with the original Murphy Bed Company that was created by the inventor of the Murphy bed, William L. Murphy. In 1985, several Murphy bed retailers created a buying group and then organized itself into our company.
The company was converted into a franchise company in 1993 using the name Murphy Bed Centers of America. In 1995, Robert H. Wood, a U.S. Marines Veteran, purchased the company and changed the retail name from Murphy Bed Centers of America to More Space Place®. This was done to better position the company to market and sell other beautiful space-saving and organizational product lines such as: custom closets, sliding doors, home offices, pantries and garage systems. Unlike most of our competitors, we have something for any room in the home and are increasingly expanding our commercial applications.
In the beginning, the company outsourced all its manufacturing, but in March 1998, the primary supplier for the wall beds and cabinets moved to consolidate with another factory. Unfortunately, the consolidation was unsuccessful and the manufacturer unexpectedly closed its doors, leaving More Space Place without a supplier. Due to the Company’s expansive, unique and customizable product line, More Space Place, Inc. made the decision that it must manufacture its own parts so that the Company and it’s Franchise Owners would not be dependent upon a third party. Being the manufacturer made it much easier to add new colors, styles, wood species and entire new product lines.
The machinery and equipment were purchased, personnel were trained and manufacturing began. In 2005, sales and production requirements outgrew the original facility, so the company more than doubled its size by moving manufacturing and franchisee support personnel to a new facility in Clearwater, FL.
(Manufactured in Clearwater, FL & American Owned)
Currently, there are forty-two retail stores consisting of thirty-seven franchised stores and five company owned stores. These are located in fourteen states including: Colorado, Delaware, Florida, Georgia, Illinois, Maryland, New Hampshire, New York, North Carolina, South Carolina, Tennessee, Texas, Puerto Rico and Virginia.
THE MISSION
More Space Place’s mission is to be the dominate retailer of not just wall beds, but have the leading market position to be THE place for space-saving and organizational furniture. We will strive to continue to improve our manufacturing capabilities and improve our margins through group purchasing, investments in manufacturing and technology, and efficiencies in distribution costs. Our long-term retail product objective is for continuous innovations with our product design, innovation and increased sourcing capabilities.
We are nationally recognized as being the largest brand-name retailer in our niche. We have already resolved many of the challenges of manufacturing, sales, software and installation processes. We are ready for rapid growth. Our current competitive position as the leading retailer of Murphy beds provides a solid platform to build a larger National presence as the “complete resource for space-saving products.”
Because More Space Place has centralized manufacturing with more production efficiencies and design capabilities, our Franchisees can offer a more diversified product line and produce customization with less overhead than a smaller production operation (see “Start-Up Costs” at end of article).
BUILDING THE BRAND
As America’s premiere Wall bed retailer, More Space Place® has established an unmatched reputation in the furniture industry. Most of our Owners had zero industry experience before joining our organization. With a solid product line, training, our CAD Technology and pricing software, it is hard to beat our unique concept. Given the current economic downturn, our business model allows our Store Owners to concentrate on sales and retailing.
(Thousands of options and variations, all at our Franchisees fingertips.)
We recently launched an exciting new marketing program that includes everything from new advertising pieces and in-store signage, to new store layouts and design specifications. As part of the new program, More Space Place also updated its image. The new identity is designed to illustrate organization and neatness for any room in the house. The strategy conveys that, with the help of More Space Place, a neat and comfortable home can be achieved. The franchise’s modern look and tag line, “We Make Room For Living” further positions the company as the nation’s leading retailer of Murphy beds and custom home modifications.
Our support staff offers Product and Business Training, IT, Marketing and Customer Service Support. Most of our Owners had no industry experience before joining our organization. It begins with intensive training by our expert staff who will assist you with the ins-and-outs of the company and industry. Through our training, Franchise Owners will develop the necessary skills to partake in the everyday tasks of running a business. You’ll also receive training materials, manuals and hands-on training which will aid in the process.
(Navy Veteran Sean Gamsby, is Seated holding the Franchisee Award for Operational Excellence)
RECOGNITION
MORE SPACE PLACE® SELECTED BY FRANCHISES4VETERANS
Clearwater, FL. – January 7, 2011 – World Franchising Network and Franchises4Vets.com list More Space Place® in USA Today amongst “50 Top Franchises for Veterans” for 2011.
MORE SPACE PLACE® SELECTED BY FRANCHISES4VETERANS
Clearwater, FL. – April 9, 2010 – World Franchising Network and Franchises4Vets.com list More Space Place® in USA Today amongst “50 Top Franchises for Veterans” for 2010.
MORE SPACE PLACE® NAMED MILITARY FRIENDLY FRANCHISE
Clearwater, FL. – February 3, 2010 – G.I. Jobs/MilitaryFranchising.com selects More Space Place® to be amongst Top 10% of all USA Franchises as a Military Friendly Franchise for 2010. Company announces $12,000 Honorably Discharged Veteran discount.
MORE SPACE PLACE® FRANCHISE AWARDED ALLSTAR SELECTION
Clearwater, FL. – October 27, 2009 – More Space Place® is ranked amongst Top 300 Franchises as an AllBusiness AllStar(a Dun & Bradstreet subsidiary) based upon financial strength to survive and flourish in these recessionary times. All Corporate Operations remain within USA.
MORE SPACE PLACE® FRANCHISE RECEIVES TOP RANKING
Clearwater, FL. – March 30, 2009 – For third consecutive issue, More Space Place® is ranked amongst Nation’s Top 100 Franchises by Bond’s Top 100 Franchises.
MORE SPACE PLACE® FRANCHISE GROWING NATIONALLY
Clearwater, FL. – July 27, 2008 – The More Space Place® franchise system doubles the size of Manufacturing and Support Service workspace. Former competitors join MSP Staff in key positions. Four more new stores to open soon; conversion plan developed to convert select independent stores.
MORE SPACE PLACE® RECEIVES AWARD FROM NMFI/USA TODAY
Clearwater, FL. – September 29, 2007 – The National Minority Franchise Initiative, in conjunction with USA Today, recognized More Space Place® franchise as one of the “50 Top Franchises for Minorities.” The Franchise was listed amongst top franchises in USA Today.
MORE SPACE PLACE® FRANCHISE RECEIVES TOP RANKINGS
Clearwater, FL. – January 16, 2006 – More Space Place® is ranked by Bond’s Franchise Guide as one of the Top 100 Franchises for a second consecutive time. For the first time, Entrepreneur Magazine ranks the Franchise as one of the Nation’s Top 500.
FRANCHISE RELOCATES HEADQUARTERS AND MANUFACTURING
Clearwater, FL. – December 28, 2005- More Space Place®, the Nation’s largest wall bed retailer with 35 Operating Galleries and six more to be opened before summer, more than doubled the size of its corporate office and manufacturing facility, all operations remain within USA.
MORE SPACE PLACE® SELECTED AS TOP 100 FRANCHISE
Largo, FL. – June 30, 2004 – More Space Place® is ranked by Bond’s Franchise Guide as one of the Top 100 Franchises in the United States.
MORE SPACE PLACE® TRAINING FACILITY CREATED
Largo, FL. – July 15, 2003 – More Space Place® has opened a new franchisee training facility with store design and training staff in St. Petersburg, FL.
MORE SPACE PLACE® FRANCHISE RECEIVES RECOGNITION
Largo, FL. – May 30, 2003 – More Space Place® is picked by Female Entrepreneur Magazine as Best of Franchise Picks for female-friendly franchises.
[photo]
From left; Marty Juarez (COO), Franchisee Keith Belair (ARMY) and Bob Wood (CEO-Marines).
Over Keith’s 7 years of Franchise Ownership, the Armed Services Veteran has won every Award that More Space Place Offers and has been elected by his peers to both Advisory Councils.
OUR INDUSTRY NICHE
The “space-saving and organization” furniture industry has grown in product availability and in distribution in the last ten years. Unlike other companies that offer a single category like closet, garage or bed stores, More Space Place has products for all categories.
The Murphy Bed (overall category is “wall beds”) has become more mainstream and the category has experienced more demand. “Murphy Beds” have benefitted greatly from the improvements in design and construction methods of modern manufacturing. Since the original folding bed in 1900, a number of innovative steps have been taken to improve the bed frames and cabinetry. The frames, which now feature either piston air compression or finely tuned steel helical coil springs to counter-balance the weight, have made the operation safe, almost effortless and much more durable.
Custom Closets have seen significant growth due to an increase in consumer demand. There has been a large increase in the distribution due in large part because the product that was once reserved for high end homes is now a standard. In the “space-saving” solution business, the most prolific product line is closets. Most of the companies in this competitive sector do not use showrooms and usually have a limited product line, problem that Franchisees do not have because of the diverse product line that More Space Place has which easily pulls products from other product categories.
In the past few years the Garage Cabinet business has become a broad base product group and, in conjunction with flooring products, has become a popular home upgrade. This product group has been significantly hurt by the economy in the last couple of years but represents only a fraction of our offering.
The Home Office category has been growing since the early nineties. The home computer created the demand, and as improvements in technology continue, it has fostered more growth in the category. The trend for more “at home work” has also influenced the demand. We now have over 43 million Americans who work at least part-time out of a home office, and that figure is expected to grow to 60 million in the next few years.
The newest opportunity group is the Home Entertainment or media center category. This category started growing when big screen TV’s were introduced and has seen more explosive growth with the conversion from large and deep profile big screen televisions, to today’s wall mounted flat screen technology. Media centers with music, gaming and large screen movies are rapidly becoming the family gathering place.
OUR MARKET OPPORTUNITY
More Space Place has established itself as the premiere retailer for wall beds. As a retailer we have a niche as one of the few custom “true retailers” in the crowded in-home consultation and space-saving industry. Our customer friendly, well placed (not “warehouse” or “out-of-a-van” stores) stores have trained staff with access to exciting technology, all at a reasonable start-up cost.
Over the last decade, the Company has tested, created and re-created local store and distribution models. One highly effective portion of this thought process has been the development of smaller yet better organized and laid out stores. We welcome your inquiry call or email.
|
Expenditures |
Estimated Low-High Range |
When Payable |
To Whom Paid |
|
Franchise Fee |
$29,500* |
Upon Signing |
Us |
|
Travel/Living Expense For Training |
$1,500 to $3,000 |
During Training |
Third Parties |
|
Real Estate Improvements |
$20,000 to $38,000 |
Before Opening |
Us or Third Parties |
|
Office Equipment and Supplies |
$1,000 to $3,000 |
Before Opening |
Us or Third Parties |
|
Computer Layout/Design Software |
$3,500 to $6,000 |
Before Opening |
Us or Third Parties |
|
Pallet Lifter or Forklift |
$600 to $2,000 |
Before Opening |
Third Parties |
|
Trailer or Van |
$1,600 to $3,700 |
As Agreed |
Third Parties |
|
Signage |
$5,000 to $12,000 |
Before Opening |
Third Parties |
|
Opening Inventory |
$26,000 to $39,000 |
Before Opening |
Us |
|
Store Display Accessories |
$3,500 to $5,500 |
Before Opening |
Third Parties |
|
Grand Opening Advertising |
$6,500 to $10,500 |
As Due |
Third Parties |
|
Architect’s Fee and Engineering |
$0 to $3,000 |
If Due |
Third Parties |
|
Miscellaneous Opening Costs |
$4,000 to $6,000 |
Before Opening |
Us or Third Parties |
|
Additional Funds/Working Capital |
$25,000 to $35,000 |
As Agreed |
Third Parties |
|
Insurance |
$1,300 to $2,800 |
Before Opening |
Third Parties |
|
TOTAL EST. INITIAL INVESTMENT UNDER SINGLE UNIT PROGRAM |
$133,000 to $203,000 |
Note: This is an estimate of the capital needed to open a store at this time. Some expenditure may provide for a period of time after the Grand Opening of the store.
Although we have relied on our experience from opening units in the past and our experience in the industry to compile these estimates, there are a number of factors which may affect your total cost, including your location, site conditions, local construction costs, local permit and government fees, your creditworthiness and other factors outside of our control.
* The Initial Franchise Fee for your first Franchise is $29,500. The Additional Store Franchise Fee is $22,000 per store.
Note: This is an estimate of the capital needed to open a store at this time. Some expenditure may provide for a period of time after the Grand Opening of the store.
Although we have relied on our experience from opening units in the past and our experience in the industry to compile these estimates, there are a number of factors which may affect your total cost, including your location, site conditions, local construction costs, local permit and government fees, your creditworthiness and other factors outside of our control.
* The Initial Franchise Fee for your first Franchise is $29,500. The Additional Store Franchise Fee is $22,000 per store.
