Are you considering investing in a cleaning franchise, specifically a truck mattress and cleaning service franchise? Clean Sleep is one of the most successful ones in this industry and has a high growth track after the appearance on the Shark Tank show.
In this article, we will go through the details of Clean Sleep, their franchise system, what you can expect, costs, and every other thing. We will help you to decide whether Clean Sleep is a good choice or not.
About Clean Sleep And Clean Sleep History
Clean Sleep is a franchise brand that specializes in on-site mattress sanitization and cleaning. Michael Ingle, who is a self-made entrepreneur, created Clean Sleep in Texas in 2013 with the hopes of revolutionizing a very niche mattress cleaning industry. Both Michael and Clean Sleep became famous after their appearance in Shark Tank, looking for investment.
He didn’t get any investment from Shark Tank, but he took advantage of the exposure. Currently, the company has over $2 million in revenue and about 9 outlets. They currently franchise for interested parties and have a great system to get franchisees going and help them succeed.
Franchise Model Table
|Cost Or Fees
How Much Does It Cost To Open A Clean Sleep Franchise?
The total cost to open one Clean Sleep franchise store is between $290,850 and $336,100. This is an expected average that includes all related and potential start-up costs like real estate, payroll, construction, equipment, and many others. In addition to the start-up costs, it also includes the one-time franchise fee of $30,000.
Depending on many factors, such as the size, location, number of employees, and others, the real cost could be outside of this range.
Franchise Requirements Of Clean Sleep
The company does not say that you need a certain professional experience to own a Clean Sleep franchise. This could be because they teach the franchisees everything they need with their training program.
However, you do need to meet some financial requirements. You need a net worth of between $1 million and $5 million. In addition, you also need to be able to show liquid cash of between $200,000 and $500,000.
Clean Sleep Profit & Revenue
Clean Sleep is not a public company, so the information about its profit and revenue numbers is quite limited. They don’t share it frequently, and the information is generally not public.
However, an online report shows that the company made $2.7 million in annual revenue in 2023. The profit numbers are not available.
Overall Sales Of Clean Sleep
They don’t share information on the stores or per franchised store, so it is hard to estimate overall sales per store. However, by looking at the annual revenue number, we can try to make an assumption. Based on the number, we estimate that the overall sales per store is about $300,000 annually.
Payback Period Of Clean Sleep
With an investment of $336,100 and an estimated 10% profit on the overall sales per store, the yearly profit would be $30,000.
So, to find out how long it will take to earn back the initial investment:
Payback Period = Investment / Yearly Profit = $336,100 / $30,000 = 11.2 years
Based on these figures, it will take approximately 11 years to pay back the initial investment for Clean Sleep. This time period could be longer or shorter depending on your sales, revenue, and profit figures.
Training and Support Of Clean Sleep
Clean Sleep offers an initial training program that consists of 8 hours of on-the-job training and 8 hours of classroom training. You receive this training before you open your store, and it aims to teach you how to run the store, give you information about the products and services, and cover any other operational things.
They also offer ongoing support both for operational matters and for marketing. You receive help with toll-free lines, security procedures, field operations, and grand opening. Marketing support includes co-op advertising, SEO, email marketing, and website development.
Terms of Agreement and Renewal
When you sign your initial agreement with Clean Sleep, the agreement will be for five years. Once the five years are over, a renewal option is possible. The details and the length of the agreement are not mentioned, but you could expect it to be between 5 and 10 years for at least one additional period.
Additionally, there could also be renewal fees applicable. This detail is also not enclosed, but you can find this detail on the franchise agreement before signing it.
Clean Sleep: Obligations and Restrictions
A Clean Sleep franchise owner is not obligated to be always present for the operation of the store. Clean Sleep allows for absentee ownership. However, there has to be a manager in the store to oversee the daily operations, if not the franchisees themselves.
Additionally, either the franchisee or the appointed manager of the store must be in the store to oversee the operations on a full-time basis, as the store can’t be run part-time.
The franchisee is also obligated to offer products and services only Clean Sleep approves or asks for. The franchisee can’t sell anything else if the franchisor doesn’t approve beforehand.
Clean Sleep Comparison
Clean Sleep is a relatively new brand that has been operating since 2013 but got its fame after the owner’s appearance in Shark Tank, looking for investors.
Even though there were no investments through the program, the presence helped the brand’s popularity, which led the company to hit over $2.5 million in annual revenue in 2023.
The company is also offering franchising to those interested and doesn’t have a lot of strict requirements besides net worth and liquidity. You can start a Clean Sleep franchise for $290,850, which includes the franchise fee of $30,000.
Looking at the popularity, revenue increase, and exceptional growth, Clean Sleep looks like a great opportunity for entrepreneurs looking to own a mattress cleaning business.
Is Clean Sleep a franchise?
Yes, Clean Sleep is currently a franchise. They have been offering franchising since 2013.
What is the Clean Sleep franchise fee?
The franchise fee for one Clean Sleep franchise store is $30,000. This franchise fee is paid in a lump sum, and you pay it when you sign the agreement.
How to open a Clean Sleep franchise?
If you’d like to open a Clean Sleep franchise, you need to get in touch with the company to get the process started. You can reach out via phone, email, or visit one of their branches to get more information.