Editors Note: This post was originally published on 12/30/2022 and has been updated on 5/26/2023 for accuracy.
Making the change from employee to entrepreneur is often a long-pondered and researched decision. It's no surprise that you are likely wondering, "is Pinch A Penny right for me?" We want to make sure that your choice to join the Pinch A Penny family is a match for everyone involved. Our turnkey business structure has brought success to many franchisees over the years who have all come to us with similar questions at the start of their journey. We've put them together to help get you started!
What is Pinch A Penny?
Pinch A Penny is a brick-and-mortar pool supply franchise that provides retail sales, pool cleaning and repairs, and an array of backyard services. This makes our stores successful in any economic climate. Additionally, Pinch A Penny is a family-friendly business in every sense: Founded as a family business, has family-owned franchises, and families as customers.
How much money can I make with a Pinch A Penny franchise?
The annual average store revenue (or average unit volume) of a Pinch A Penny location is over $ 2 million*. While there is no assurance that your Pinch A Penny store will perform as well as these retail stores, it’s safe to say that Pinch A Penny’s numbers speak for themselves.
Are any Pinch A Penny markets still available in Florida?
As a Clearwater, Florida founded company, Pinch A Penny spent its first 40+ years focused on opening locations throughout the state, so new store opportunities are limited in Florida. We do have a handful of new store opportunities in the state, with most of our available opportunities near Palm Beach and Panama City.
My city needs another pool store; why can’t we open a Pinch A Penny?
Though there are several areas that are great for a new Pinch A Penny store, finding real estate can be a challenge. Our experts are always keeping an eye on these markets for opportunities to add them to our available markets!
What are the initial investment requirements to open a Pinch A Penny store?
A Pinch A Penny franchise cost ranges in initial investment depending on the market and individual location. However, the cost to open a store starts around $500,000, including a franchise fee of $50,000. Potential Franchise Owners must meet the minimum liquidity requirements of $150,000 and have a net worth of no less than $350,000.
What is considered a “liquid asset” for Pinch A Penny’s financial requirements?
Liquid assets are funds that are easily converted into cash, such as bank accounts, 401k, stocks, and CD’s.
Does Pinch A Penny have a veterans discount?
Pinch A Penny has been named a top franchise for veterans, and veterans save 20% on the franchise fee, dropping from $50,000 to $40,000.
Do I have to operate my Pinch A Penny franchise, or can I be a silent partner?
Our franchisees are owners/operators. You’ll spend a lot of time working with your customers to help them keep their pools in great shape, either through in-store sales or home visits to troubleshoot, clean, fix and/or repair their pool or spa. Some days, you will be selling or performing ancillary services such as power washing. You’ll also work on scheduling, payroll, and ordering inventory. And if you need guidance, the Pinch A Penny training team is only a phone call away.
Do I need to have experience in the pool industry to own a Pinch A Penny franchise?
No, you don’t need to be a pool and spa expert to franchise with us—in fact, you don’t even need to know how to swim. We'll bring you into our headquarters for pool school and provide all the training and tools you need to succeed.
How do you decide where to put a Pinch A Penny franchise?
We do extensive research to know which markets are growing and where pools and spas are being built. Because pools and spas require continual maintenance, we also know which areas already have enough pools and spas to provide a solid base for business.
Though we have covered many of the questions we answer at the start of the franchise process, we know that each person has their own set of unique needs that may not have been addressed above. Our franchise development team is ready to talk with you more about your specific questions and to help get you started. If you're ready to dive in a little deeper, contact our franchise development team today!
Interested in owning your own franchise?
*For the year ending December 31, 2022, Pinch A Penny had 269 stores open. Of those stores, 263 have been open at least one year. Of those open at least one year, the average annual gross sales were $2,023,349 and some stores (37%) had annual gross sales that exceeded the average. Your results may differ. There is no assurance that you will do as well. See our 2023 Franchise Disclosure Document for more information.
