WEST BERLIN, NJ - Closet & Storage Concepts and More Space Place, two home storage franchises which joined following a 2013 acquisition, announced three new franchises. The newly-aligned brands gained momentum in 2014, and both national franchise brands forecast continued growth, says CEO Bob Lewis.
Closet & Storage Concepts and its recently-acquired brand More Space Place, reported continued growth in their franchise locations with the addition of the three stores in the last five months. Lewis says the company also anticipates the trend to continue with the addition of at least six stores planned for 2016.
Lewis attributes the rapid expansion to the ability to offer potential franchisees two different business models, as well as the strength of the market for space-saving and home organization products.
“We’re thrilled to have the new franchisees join our family of stores, and look forward to a growth trend for our brands,” says Lewis.
In late 2013, Closet & Storage Concepts acquired More Space Place, America’s number one retailer of Murphy beds. The brand’s product line complements Closet & Storage Concepts, which designs, manufactures, and installs a variety of custom closet and home storage products for garages and other rooms. Combined system-wide sales are estimated at $40 million with more than 400 employees and 41 locations nationwide, positioning Closet & Storage Concepts / More Space Place as one of the largest companies in the space-saving home furnishings & improvement industry.
“We’re seeing a lot of potential for the company’s future as a result of downsizing trends in the housing market,” explains Lewis. “Boomers are looking to use their spaces more creatively as they make arrangements to age in place, while millennials are flocking to smaller dwellings in urban centers, expanding the market for space-saving solutions. Added to that, the pent-up consumer demand for home products that’s been building since the recession has finally begun to release.”
In the last 10 years, the business of creating or optimizing space has grown substantially and is predicted to continue its upward trend. U.S. demand for home organization products will increase 4 percent annually to $9.4 billion in 2017, according to industry forecasts. The company’s three new locations include a Closet & Storage Concepts store in Scottsdale, AZ, and More Space Place stores in Mount Pleasant (Charleston), SC and North Palm Beach, FL. The new stores expand the company’s retail locations by 7.9%, bringing the total to 41 locations nationwide in 17 states.
Franchisee Wes Bishop’s experience illustrates the potential that awaits new Closet & Storage Concepts and More Space Place franchise owners. In June, Bishop opened a More Space Place Store in the Charleston, SC, market and was already closing two to three sales per week in July. Bishop first conceived the idea of opening a More Space Place store after his father discovered its signature offering, the Murphy bed, at the More Space Place location in Hilton Head.
“The company has a family feel to it—I noticed that from the very beginning,” says Bishop, who adds that the two nearest franchisees to his market—in Hilton Head and Myrtle Beach—have been tremendous mentors to him in his startup process. “It’s not about competition in terms of who’s outselling who, or who has the best showroom in the market. It’s about ‘What can we do to help you succeed?’”
According to Lewis, Closet & Storage Concepts and More Space Place set their franchisees up for success, offering an exclusive territory, training in all aspects of the business, assistance in securing a showroom location, marketing support, ongoing business planning and strategy guidance, and IT and customer service help.
“It makes it difficult to fail with the kind of support the company has given me, from sending down their installation training manager to train my team and build out our showroom, to lending us their design trainer to help with creative solutions to the tougher design challenges. No matter how crazy things have gotten, to have that kind of support behind you is a great resource,” says Bishop.
“Franchisees like Wes help make our company what it is today. We’re always on the lookout for just the right person to open our newest store,” says Tom Harris, Director of Franchise Development for Closet & Storage Concepts and More Space Place. “With two brands and two business models, potential franchisees have more options with us. More Space Place, in particular, is a rather low-investment brand for an individual to open.”
Closet & Storage Concepts is included in the Top 500 Franchise Systems of Entrepreneur Magazine’s 28th Annual Franchise Edition, as well as ranked in Franchise Times’ Top 300 in 2012, 2013 and 2014. The company is also an Angie’s List “Super Service Award” winner and has been named “Best of Houzz” for three consecutive years.
For information on franchise opportunities with Closet & Storage Concepts or More Space Place, contact: Tom Harris at (760) 728-8228 or email at [email protected].
About Closet & Storage Concepts - Headquartered in West Berlin, NJ, Closet & Storage Concepts designs, manufactures, and installs a wide variety of custom closet, garage, laundry room, pantry, home office, wall bed, and other home storage products. The company was founded in 1987 by President and CEO Bob Lewis in the southern New Jersey/Philadelphia market. In 2000, Closet & Storage Concepts began offering franchise and dealer business opportunities in the United States and Canada. The privately held company has 12 locations, three company-owned and nine franchise-owned, in 10 states. For more information, please call 1-800-862-1919 or visit www.closetandstorageconcepts.com.
About More Space Place - Headquartered in Clearwater, FL, More Space Place manufactures and sells Murphy beds, custom closets, and other space-saving solutions for residential and commercial use. Currently, there are 29 franchised retail stores located in 10 states. The franchise got its start in 1985 through a license agreement with the original Murphy Bed Company, the company established by William L. Murphy, the inventor of the Murphy bed. Since then, More Space Place has established itself as the premier retailer for wall beds. For more information, please call 1-888-731-3051 or visit www.morespaceplace.com.
Source: Closet & Storage Concepts
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