Closet & Storage Concepts / More Space Place Named Among Smartest Growing Brands by Franchise Times
Company debuted on the trade publication’s “Fast and Serious” list at number 16.
WEST BERLIN, NJ (PRWEB) March 28, 2016 - This month, Closet & Storage Concepts / More Space Place made its first appearance on the Franchise Times “Fast and Serious” list of the smartest growing brands, ranking sixteenth among franchises with system-wide sales over $40 million. The organization was the only representative from the home improvement category in the field of forty.
According to Franchise Times, the publication analyzed the data submitted by franchise companies for the last three years, using a formula “to identify fast-growing franchise systems that also have staying power, as an antidote to multiple other rankings that include too many one-year wonders.”
“It is a real honor to be included in this list,” said Bob Lewis, President and CEO of Closet & Storage Concepts / More Space Place. “Franchise Times is the premier publication for the franchising industry.”
“When we saw the other systems that made the list, we were humbled,” added Tom Harris, Director of Franchise Development for Closet & Storage Concepts / More Space Place. “We’re in such great company. There were so many well-known brands up there.”
Closet & Storage Concepts designs, manufactures and installs a variety of custom closet and home storage products for garages and other rooms. Its brand More Space Place, acquired in 2013, is America’s number one retailer of Murphy beds. Combined, the company has more than 400 employees and 37 locations nationwide, positioning Closet & Storage Concepts / More Space Place as one of the largest companies in the space-saving home furnishings & improvement industry.
At the end of May, the company expects to open the second location of its new franchise option: the Closet & Storage Concepts showroom model. The showroom model forgoes the product manufacturing component that a standard Closet & Storage Concepts store would have, allowing new franchisees to get started more quickly with lower startup costs. The option also opens up new revenue streams for the owners of full Closet & Storage Concepts models, who will benefit from the manufacturing business of the new showroom model sales. In addition to the showroom model, the company will continue to offer the full manufacturing option to qualified prospective franchise owners.
“We’re adapting the business model to the marketplace and the skill sets of the owners,” said Harris. “It allows us to grow much faster because we can offer franchisees a new option that’s less costly and faster to open. Along with our More Space Place stores, franchisees now have three options to choose from, depending on their market, their demographics, the initial investment they’re interested in making and their own long-term growth objectives.”
With a laser focus on smart growth, Closet & Storage Concepts / More Space Place carefully screens prospective franchisees, new markets and new opportunities in order to set store owners up for success. During the recession, the company put expansion on the backburner while it took the opportunity to make improvements to its business model and enhance unit profitability, emerging stronger and poised for growth.
Today, the company has seen a sharp increase in sales as a result of pent-up demand following the recession. Millennials flocking to urban centers and boomers looking to age in place have also helped drive sales as they look to use their space more creatively.
“We work hard to help our franchisees succeed, and that’s been one of the keys to the company’s overall growth,” explained Lewis. “We hope to be ranked on the ‘Fast and Serious’ list again next year!”
For information on franchise opportunities with Closet & Storage Concepts or More Space Place, contact: Tom Harris at (760) 728-8228 or email at tomharris(at)closetandstorageconcepts(dot)com.
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 http://www.closetandstorageconcepts.com.
About More Space Place
Headquartered in Clearwater, Fla., More Space Place manufactures and sells Murphy beds, custom closets, and other space-saving solutions for residential and commercial use. Currently, there are 25 franchised retail stores located in 9 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 http://www.morespaceplace.com.
SOURCE More Space Place
Powers Brand Communications LLC
Comments:comments powered by Disqus
- Expansions & Growth
- Financial & Earnings Claims
- Mergers & Acquisitions
- Personnel Changes
- General Announcements
- Conferences & Events
- Product Announcements
- Media Coverage
- Strategic Alliances