$950k/yr Cleaning Carpets?

Today we're diving into a new franchise: Voda Cleaning & Restoration.

• Home-based

• Easy to hire labor

• Under $200k start-up

• Scalable with strong margins

Business Model

Voda has two core services: carpet cleaning + restoration.

Carpet cleaning provides consistent, predictable revenue that you can start getting immediately. You get paid for these jobs at the time of service.

Restoration (water & mold remediation) jobs are higher tickets but less predictable. Since they are usually paid for by insurance, which takes 45-60 days.

Both services use the same water-extraction equipment & labor. This dilutes your fixed costs & increases your margins.

Earnings Potential

They provide a fully itemized 3-year P&L of the founding location in the Virginia/DC market in the 2023 FDD.

Over the last 3 years, sales have grown from $1.1M to $1.75M while producing a consistent net margin of 20%-23%. In 2022 adjusted EBITA was over $400k, which included paying an $80k salary to an operations manager.

In Item 19 they also break down the revenue by service, average revenue per job, and revenue per van. They have a nice mix between carpet cleaning & restoration.

• ~$950k Carpet Cleaning

• ~$800k Restoration + Other

"But Brian the carpet cleaning business is so saturated."

Carpet cleaning is a $6.5 billion industry with 4.4% per year growth for the last 5 years. Very stable & boring.

It's highly fragmented, with many small, unsophisticated operators. Franchisors LOVE this type of industry. They create a solid brand, generate leads for franchisees, and have a professional call center to set appointments.

That's precisely what Voda does for their franchisees. They handle all the marketing & lead generation so you can focus on operations.

Start-Up Costs

The initial estimated investment is $146k to $198k for one territory of 85k owner-occupied homes. That includes the franchise fee, the van, tools, equipment, grand-opening marketing, working capital, & more.

They offer a discounted franchise fee on additional territories purchased upfront. They are SBA approved, which means you only need ~30% down for roughly $75k

You could also finance using your 401k, HELOC, or other funding options.

This can be a home-based business that keeps your overhead low while you build the business. Eventually, you'll move into a small warehouse space.

They require a minimum net worth of $250k.

(See Item 7 of the 2023 FDD for total start-up costs)

Company Background

The founding location started 14 years ago. They've perfected the business model process over the last decade.

Earlier this year, Dan Claps bought the company & built a team of franchise experts to scale Voda across the country.

They are looking for franchisees who want to get in on the ground floor & work shoulder-to-shoulder with the founders. With an emerging brand like Voda you are betting heavily on the Jockey more than the horse.

There is always a risk but also huge potential rewards since early franchisees will have access to the best markets in the country.

Next Steps

Check out my podcast interview with the Voda founders.

Reply to this email for an introduction to the Voda team.

I’ll confirm your territory is available and provide tools, checklists, & questions to help you through the process.

Cheers!

Brian