FRANCHISE BUNDLE

Get Full Bundle:
$79 $49
$99 $79
$49 $29

TOTAL:

Description

How to Open a Woodcraft Franchise?

To begin your journey as a Woodcraft franchisee, you'll need to complete an initial franchise application. Following this, you will review the Woodcraft Franchise Disclosure Document (FDD), which outlines critical details about the franchise opportunity. After interviews and a discovery day at their headquarters in Parkersburg, West Virginia, you may be awarded a franchise location. This process ensures you understand the brand and its operational expectations before officially launching your own Woodcraft Retail Store.

What Makes Woodcraft a Viable Franchise Option?

Before committing to a Woodcraft franchise, it’s essential to conduct thorough research. Speak with a financial advisor and a franchise attorney to understand the financial commitments involved, including a franchise fee of $50,000 and ongoing royalty fees of 5% of gross revenues. Assess the local market for woodworking supplies to gauge competition and potential customer base. Understanding the initial investment, which can range from approximately $573,789 to $752,692, is crucial for setting realistic financial expectations.

Why You Should Consider Owning a Woodcraft Franchise?

Woodcraft specializes in woodworking products and services, appealing to both hobbyists and professionals. The franchise offers a robust business model that includes access to branded products, training, and a supportive community. If you are passionate about woodworking and enjoy helping others, this franchise could be a fulfilling venture. Additionally, Woodcraft provides training and ongoing support, making it easier for franchisees to succeed even without prior retail experience.

Is Owning a Woodcraft Franchise Right for You?

Operating a Woodcraft franchise means entering a competitive but rewarding industry. The woodworking market is growing, and Woodcraft has established itself with a proven business model since its inception. With an average gross revenue potential ranging from $1.3 million to over $2.8 million depending on the store's performance, this franchise can offer substantial returns for dedicated owners. Consider your passion for woodworking and business management when evaluating this opportunity.

Woodcraft Franchise Financial Requirements

Below, you’ll find an overview of the initial investment needed to launch the business, along with the ongoing fees required by the franchisor to maintain operations over time.

A broad sector defining similar types of franchise businesses.

Industry

Retail Franchises
A more specific division within the broader industry.

Category

Specialty Retail
Available financing options to help start the franchise.

Funding Year

2006
The main organization that owns the franchise brand.

Parent Company

Woodcraft Franchise, LLC
The key individuals guiding the franchise’s strategy and growth.

Leadership

John ('Jack') Bigger
The official business address of the franchisor’s headquarters.

Corporate Address

1177 Rosemar Road, Parkersburg, West Virginia 26105
The total amount required to launch the franchise.

Initial Investment

$573,789 - $752,692
The initial fee paid to join the franchise system.

Franchise Fee

$50,000
Ongoing percentage of revenue paid to the franchisor.

Royalty Fee

5%
Regular contribution toward the franchise’s advertising fund.

Marketing Fee

1% for the first two years; 1.5% thereafter
The minimum liquid capital you must have on hand.

Cash Required

$573,789 - $752,692
The minimum total assets (minus liabilities) you must possess.

Net Worth Required

$300,000 - $500,000
The typical yearly revenue generated per franchise location.

Average Revenue

$1,816,248
The middle value of yearly revenue among franchise locations.

Median Revenue

$1,397,414
The smallest reported annual revenue among franchisees.

Lowest Revenue

$965,255
The largest reported annual revenue among franchisees.

Highest Revenue

$3,991,009
The estimated timeframe to recover your initial costs.

Breakeven Time

12 Months
The estimated period to recoup your total investment.

Investment Payback

11 Months

Woodcraft Franchise Unit Growth Summary

A breakdown of corporate, franchised, and total units, with yearly net changes shown in the chart and table.

The overall number of operating franchise locations.

Total Units

74
The number of locations owned by independent franchisees.

Franchised Units

64
The number of locations owned and run by the franchisor.

Corporate Units

10
Units 2021 2022 2023
Total Units 73 74 74
Net Change YoY 1 0
Franchised Units 63 64 64
Net Change YoY 1 0
Corporate Units 10 10 10
Net Change YoY 0 0

Company Background

Woodcraft is a premier retailer specializing in woodworking tools, supplies, and educational resources for woodworking enthusiasts and professionals alike. Established over 40 years ago, Woodcraft has built a reputation for offering a wide range of high-quality products, including tools from leading brands, lumber, and unique woodworking accessories. With a commitment to fostering a love for woodworking, Woodcraft also provides classes, workshops, and community events to inspire creativity and skill development among its customers.

Franchise Opportunity

Investing in a Woodcraft franchise presents a unique opportunity for entrepreneurs passionate about woodworking and DIY projects. As a franchisee, you can leverage Woodcraft's strong brand recognition, comprehensive training, and ongoing support to build a successful business. The franchise model is designed to minimize risks while maximizing potential returns, making it an attractive option for those looking to enter the retail sector with a focus on craftsmanship and creativity.

Corporate Structure

Woodcraft Industries, Inc. operates its franchise system under the Woodcraft brand, which has been established as a leader in the woodworking retail space. Founded in 1928, Woodcraft has evolved into a franchise network that spans across the United States, with its corporate headquarters located in Parkersburg, West Virginia. The company is dedicated to supporting its franchisees with a robust infrastructure and resources necessary for running successful stores.

Royalties

Franchisees of Woodcraft are required to pay a royalty fee of 5% of gross sales, which contributes to the ongoing support and services provided by the franchisor. Additionally, franchisees must contribute 2% of gross sales toward a national marketing fund, which helps promote the brand and attract customers. These fees ensure that franchisees receive valuable assistance in growing their business while benefiting from Woodcraft's established market presence.

Company Mission

Woodcraft's mission is to inspire and equip woodworkers by providing the best tools and resources available. The company aims to create a community where woodworkers of all skill levels feel supported and motivated to pursue their passion. Through exceptional customer service, expert advice, and a wide selection of high-quality products, Woodcraft is committed to enhancing the woodworking experience and helping individuals achieve their creative goals.

Brand Story

Woodcraft’s journey began in 1928 when it was founded to meet the needs of woodworking enthusiasts in the United States. Over the decades, the company has grown from a single store to a nationwide franchise network. Woodcraft has become synonymous with quality craftsmanship, offering a blend of traditional and modern woodworking tools and supplies. The brand’s dedication to customer education and community engagement has solidified its position as a trusted source for woodworkers, making it a beloved name among hobbyists and professionals alike.

Frequently Asked Questions

The estimated initial investment for a Woodcraft franchise ranges from approximately $573,789 to $752,692. This includes expenses like the initial franchise fee, inventory, leasehold improvements, and equipment costs.