The Patch Boys Franchise Costs $59K - $90K (2024 Stats)

INVESTMENT

$59,000

-

$90,000

LOCATIONS

298

Adam

Updated

April 17, 2024

Is

The Patch Boys

a franchise?

Yes,
The Patch Boys
currently
accepts
franchise
applications

The Patch Boys franchise, a part of the BELFOR Franchise Group, specializes in drywall repair and has become a notable name in the home improvement sector. Founded in 2006, The Patch Boys has expanded distinguishing itself by taking on small repair jobs that most contractors avoid, such as drywall, plaster, and ceiling repairs. This focus on smaller projects has allowed them to fill a significant gap in the market and build a strong reputation for quick, professional, and affordable service​​​​.

Joining The Patch Boys franchise offers the opportunity to tap into a niche market with high demand nationwide. The franchise is designed for entrepreneurs looking for a low-cost entry into the home services industry, backed by a business model that emphasizes simplicity and profitability. 

The Patch Boys provides comprehensive support and training to its franchisees, ensuring they are well-prepared to meet the needs of homeowners and construction professionals alike. With the backing of the BELFOR Franchise Group, franchise owners can expect a supportive community and a proven track record of success​​​​.

How many

The Patch Boys

franchises

are there?

In 2022, there were
298
outlets in
the United
States, of which
298
are franchises, and
0
are corporate-owned.

What are the

The Patch Boys

franchise

fees?

Advertising fee

2.00%

Initial Franchise Fee

The Initial Franchise Fee is $29,500. This fee is due upon signing the franchise agreement and is non-refundable. The fee secures a Standard Territory encompassing 250,000 to 350,000 people.

Initial Package Fee

The Initial Package Fee is $8,500, due upon signing the Franchise Agreement. This package includes logo wear, printed materials, digital marketing, consumables, vehicle magnets, promotional items, and an allowance for van graphics.

Royalty Fee

The Royalty Fee is 8% of Gross Sales. If minimum Gross Sales are not achieved, a minimum Royalty may be collected, currently set at $289 per month.

National Marketing Fee

Although not currently assessed, a National Marketing Fee of up to 2% of Gross Sales may be imposed with 120 days' notice.

Technology Fee

Fees for website hosting, required software licensing, including mandatory Customer Relations Management Software, and other technology-related expenses are included under the Technology Fee.

Transfer Fee

The Transfer Fee is 25% of the then-current Initial Franchise Fee, due upon the transferee signing the new Franchise Agreement. For transfers to a spouse or adult offspring, the current Administration Fee is $500.

Renewal Fee

The Renewal Fee is the then-current fee, which is currently $2,500, payable at the time of signing a Franchise Agreement for a renewal term.

Late Payment and Report Fees

Late Payment Fees are the greater of 5% of the amount due or $50 per week. Late Report Fees are $100 per week for each month a report is late.

Note: The fees presented here can be found in the Item 5 of the Franchise Disclosure Document. For a complete list of all the fees borne by the franchisee, please consult the Franchise Disclosure Document.

How much does

it cost

to start a

The Patch Boys

franchise?

It costs between
$59,000
and
$90,000
to start a
The Patch Boys
franchise.
Type of Expenditure Amount
Initial Franchise Fee $29,500
Initial Package Fee $8,500 to $8,500
Lease Deposit and First Month’s Rent, Utilities $0 to $2,000
Leasehold Improvements $0 to $2,000
Exterior Signage $0 to $2,000
Licenses/Permits $0 to $500
Technology System $100 to $2,000
Initial Supplies and Inventory $1,000 to $3,000
Insurance $2,093 to $5,165
Vehicles $0 to $3,000
Costs Incurred While Attending Training $1,000 to $5,000
Initial Advertising and Marketing $500 to $2,500
Miscellaneous Pre-opening Expenses $1,500 to $5,000
Additional Working Capital (three months) $15,000 to $20,000
Total $59,193 to $90,165

Note: The table above provides a snapshot of the main costs associated with starting the most common franchise format (as disclosed in the Item 7 of the Franchise Disclosure Document). For a complete overview of all the expenses involved with the various formats offered by the franchisor, please consult the Franchise Disclosure Document.

Does

The Patch Boys

provide

training

to its

franchisees?

Yes,
The Patch Boys
provides
training

The franchisor provides comprehensive training to franchisees, which includes a variety of programs and sessions to ensure the successful operation of the franchise. Here's an overview of the training provided:

  1. JumpStart Training Program: This is a preparation program that includes numerous pre-opening activities. It's a self-guided process with additional guidance from the training team and involves reviewing the Operations Manual. This program must be completed within two months of signing the agreement and before attending the Business Manager and Technical Operations Training.
  2. Initial Training: Provided at no additional charge for the franchisee or their Designated Manager and up to three other persons. This training covers sales/marketing, software/technology, business operations, and technical aspects related to equipment and implementation. It is conducted at the franchisor's headquarters or another designated location and lasts up to four days. Attendees are responsible for their travel and living expenses.
  3. Business Manager and Technical Operations Training: This training is scheduled after the JumpStart Program and must be completed before opening the franchise. It is typically offered each month and includes classroom and on-the-job training.
  4. Annual Convention and Periodic Refresher Training: The Managing Owner or Designated General Manager must attend the franchisor's annual convention and periodic refresher training courses and conferences. These sessions cover a range of topics from technical training to business plan analysis and marketing.
  5. Additional Training: If this is a renewal term or an additional franchise is being awarded, the requirement for Initial Training may be waived, except for the JumpStart online modules and continuing training obligations. However, if the franchisee desires to attend Initial Training again, they can do so without a training fee, but will be responsible for their travel and living expenses.

Does

The Patch Boys

provides

territory

protection?

The franchisor provides territory protection to franchisees. The protected territory, referred to as the "Territory," is described in the Summary Page of the Franchise Agreement and consists of specific zip codes awarded to the franchisee. The franchisor commits not to allow another THE PATCH BOYS Business or Company Store to perform work within a franchisee's Territory as long as the franchisee is in full compliance with their Franchise Agreement.

Additionally, no other THE PATCH BOYS Business is permitted to advertise in print, media, or web-based advertising within a franchisee's Territory without the franchisee's prior written consent. The boundaries of the Territory, determined by zip codes, are fixed during the term of the Franchise Agreement and any renewal agreements unless the franchisee gives prior written permission for changes​​.

Can a

The Patch Boys

franchise

be run as

a passive

investment?

The franchisor requires franchisees to be actively involved in the day-to-day operations of their franchises. Specifically, franchisees must designate at least one managing owner (the "Managing Owner") who will be the primary individual contact with the franchisor for the franchise.

This Managing Owner is responsible for faithfully, honestly, and diligently performing the obligations under the Franchise Agreement. The requirement for a Managing Owner to be involved suggests that the franchisor expects a significant level of direct involvement from the franchisee or a designated individual in the daily management and operations of the franchise​​.

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