Answers to the most Frequently Asked Questions
The annual average store revenue (or average unit volume) of a Pinch A Penny location is $1.5 million*, with a sales-to-investment ratio of more than 3:1. Pinch A Penny’s numbers speak for themselves.
After five decades of continued growth in Florida and surrounding states, Pinch A Penny continues to bring our pool care expertise and service to growing markets in the Southeast and Texas. Like Florida, these markets have large populations of pool and spa owners who will appreciate the selection, expertise and service offered by a locally owned Pinch A Penny franchise.
How do we know? Because we’ve done our homework. We know which markets are growing and where pools and spas are being built. We also know, because pools and spas require continual maintenance, which areas already have enough pools and spas to provide a solid base for business. To find out where, specifically, we’re growing, visit Available Markets.
Pinch A Penny has the highest average unit volume in the industry at $1.5 million. Our locations benefit from multiple streams of revenue – retail, pool cleaning and an array of backyard services – that make them successful in any economic climate. Additionally, Pinch A Penny is a family-friendly business in every sense: Founded as a family business, the company is still family-owned, has family-owned franchises and families as customers.
Pinch A Penny provides a turnkey process and an exceptional training program. We source an ideal site, negotiate the lease and help build out the store. We offer thorough training in every aspect of the business and help franchisees earn useful certifications. In fact, we offer additional training on new ancillary services every year. We take care of everything all the way through welcoming your first customer, and after you open, our trainers are just a phone call away in case you need any help.
We don’t just run you through the basics and leave you to learn on your own. You’ll be required to undergo up to four weeks of training on virtually every aspect of pool care. Only then can you confidently and thoroughly serve your customers. Plus, we offer ongoing training opportunities for you and your team.
Our primary training courses are conducted at Pool School on the Pinch A Penny Corporate Headquarters in Clearwater, Florida, by some of the industry’s most knowledgeable experts. Our training coordinator is a certified pool operator instructor recognized by the National Swimming Pool Foundation and Certified Aquatic Facility Operators.
Your training coordinator will cover every topic thoroughly. After all, the more you know about what you sell and why you sell it, the more valuable your business will be — for you and your customers. In fact, we’ve found the key to any franchise owner’s success is the ability to develop a loyal customer base through extensive knowledge and customer service unmatched by your competitors.
While referrals are important, we would never expect you to rely solely on referrals or self-promotion to make your franchise work its hardest. All consumer marketing is handled by our in-house team of advertising professionals who create national-caliber, targeted advertising campaigns to promote the Pinch A Penny brand.
You’ll have a marketing account manager dedicated to you who will help you map out a plan for everything from your grand opening to ongoing business growth.
Our award-winning efforts have helped foster our “expert” reputation in the minds of our target audiences. And we have one of the most sophisticated pool owner databases to make sure we’re getting our message to the right people.
Most of what you’ll sell can be ordered through an affiliated central distribution facility in Clearwater, Florida. Dealing primarily with one vendor simplifies ordering for franchise owners. Stores receive deliveries on a regularly scheduled basis from the Pinch A Penny-branded trucks that distribute inventory and products throughout the Southeastern U.S. and Texas.
Pinch A Penny franchise start-up costs depend on the market and individual location. The total estimated initial investment, including franchise fee, ranges from $289,375-$411,200. For qualified franchisees, Pinch A Penny will finance up to 80% of the cost. Learn more.
The Deposit is $10,000 and will only be necessary if you enter into a Deposit Agreement with us. The Deposit is not refundable, but it will be applied to the Initial Franchise Fee.
The amount of your lease payments and security deposit will vary depending on such factors as the size, location and condition of your premises and market demand. We estimate that the security deposit will equal one month’s rent. The estimate does not reflect an investment in real estate, since it is assumed that you will lease your premises. This estimate assumes that you do not lease a separate office/warehouse to operate your Pool Services.
For convenience, we sometimes order the furniture and fixtures for you. If so, you must reimburse us; but this is a pass-through only and we do not mark up the amount or charge for the service. Furniture includes cash wrap cabinet, water test cabinet, and butcher block parts room cabinet. Fixtures include shelving, phone system, sound system and uprights, which are ordered from us or our affiliate. Fixtures also include slatwalls, which are ordered from a third party.
The size of a PINCH•A•PENNY® Store is estimated to be 1,200 to 10,000 square feet of gross leasable space with most Stores ranging between 1,600 and 2,400 square feet. Costs of leasehold improvements, which include wall treatment, ceilings, painting, electrical, carpentry and related work, contractor and architect fees, will vary significantly depending on the condition, location and size of the premises, the demand for the premises among prospective lessees and any construction or other allowances granted by the landlord after negotiations. The high estimate also includes the estimated cost of installing automatic doors at the Store. We recommend installing them when you first develop your Store as there are many benefits and it may be less expensive and disruptive to install them during the initial build-out than doing so later. We do require that you install automatic doors no later than 5 years from the opening of your Store as a condition of renewal.
Bleach Tank and Containment Equipment includes:
The difference between the low and high ranges is attributable to the actual size of the Store and the amount and variety of inventory necessary for the opening of the Store in compliance with our prescribed standards and specifications. You must maintain at all times, in appropriate categories, an assortment of pool supplies and equipment, a minimum inventory of retail merchandise of $70,000, based on wholesale cost, which may be increased or decreased from time to time by us in our COM. This is to ensure that your inventory will not fall below a certain point, so that you will be able to meet the demands of the public for merchandise at your Store. Depending on the opening mix of inventory, we estimate the total opening inventory will contain a range of $65,000 to $85,000 of merchandise and supplies purchased from our affiliates and a range of $10,000 to $55,000 from other suppliers.
You must cover the cost of training expenses, including materials, room, board, and transportation, for those persons you send to the initial training program. Training expenses will vary depending on the type of room, board and transportation selected. See Item 11 for a description of our initial training program.
You must obtain insurance in the amounts and coverages we specify. See Item 8 for information on group pollution insurance and employment practices liability insurance coverage.
You must purchase your computer and POS System from us. See Items 5, 8 and 11.
This item estimates your additional initial start-up expenses. These expenses include payroll costs. These figures are estimates, and we cannot guarantee that you will not have additional expenses starting the business. Your costs will depend on factors such as: how much you follow our methods and procedures; your management skill, experience and business acumen; local economic conditions; the local market for your products and services; the prevailing wage rate; competition; and the sales level reached during the initial period. We based our estimates on our and our affiliate’s experience in the operation, establishment and franchising of Stores and data we’ve received from more recent openings.
If you buy a PINCH•A•PENNY® Store already in operation from us or an affiliate, the purchase price may exceed the estimated initial investment because it will reflect the Store’s existing operations, sales and income.
As with most small businesses, there is no such thing as a “typical day!” 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.
You’re never on your own! Our team has the expertise to help with any challenge. Your franchise family is here for you today, tomorrow or 10 years from now.
No. 90% of our new franchise owners have little or no previous pool experience. We provide up-front training on all you need to know about pool and spa care as well as how to operate a Pinch A Penny store. When you graduate from Pool School, you’ll have a Pool School certificate; a Certified Pool & Spa Operator (CPO®) certification, the world’s leading verifiable pool and spa training credential; and an Advanced Service Technician (AST®) certification. We also offer training on all ancillary services that you choose to add to your business. When you leave Pool School, you will have the trainers’ cell phone numbers so you can call and ask questions at any time.
Yes. For qualified candidates, we have an in-house new store financing program that offers up to 80% of financing of your start-up costs at rates comparable to a Small Business Association loan without all the fees, prepayment penalties or waiting on banks. Find out more about our in-house financing program on our Financing & Investment page.
Our typical franchisee is a midcareer professional who wants to take control of their life and change their family’s future. In a podcast interview, Chief Development Officer Michael Arrowsmith says, “We aren’t looking for people who have a mechanical background, or a service background, or a sales background. What we’re looking for is people who have a heart to serve. What we’re looking for is people who are coming in to help people and trying to help the consumer. Our business is one about help, not about sales.”
Typically, depending on real estate, construction and other variables, the average time to open a new Pinch A Penny store is six to nine months from your initial inquiry. From build-out to opening day, Pinch A Penny takes care of everything so your turnkey store is ready go from Day One. Let’s start now!
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