Woodcraft Franchise FDD, Costs & Fees (2024)
KEY FRANCHISE STATS
All you need to know about this franchise in a snapshot
Initial franchise fee
$50,000
Investment required
$574,000 – $753,000
Woodcraft: Crafting Success in the Woodworking Supply Industry
Established in 1928, Woodcraft has earned its reputation as a premier retailer in the woodworking supply sector. Headquartered in Parkersburg, West Virginia, the company began as a small-scale operation catering to Boston’s cabinetmakers and has since expanded into a nationally recognized brand.
Woodcraft launched its franchising program in 1997, growing into a vast network of stores across the United States. It offers an impressive selection of woodworking tools, equipment, and supplies, catering to the needs of both professionals and hobbyists.
What sets Woodcraft apart is its extensive range of high-quality hand and power tools, its dedication to customer education through over 13,000 annual woodworking classes, and its robust catalog and online sales channels. This comprehensive approach positions the company as a go-to resource for woodworking enthusiasts.
Initial investment
Here's what you would need to invest if you were to start this franchise. These costs are provided by the franchisor in the Franchise Disclosure Document.
| Type of Expenditure |
Amount |
| Initial Franchise Fee |
$50,000 |
| Retail System Support Fee |
$289 – $450 |
| First Month’s Rent |
$0 – $10,000 |
| Security Deposits |
$9,000 – $10,000 |
| Initial Inventory |
$342,500 – $408,242 |
| Leasehold Improvements |
$10,000 – $50,000 |
| Furniture and Fixtures |
$55,000 – $75,000 |
| Insurance |
$3,000 – $10,000 |
| Training Expenses |
$1,000 – $3,000 |
| Grand Opening Advertising |
$25,000 |
| Signage |
$6,000 – $9,000 |
| Office Equipment and Supplies |
$22,000 – $27,000 |
| Additional Funds (3 Months) |
$50,000 – $75,000 |
| Total |
$574,000 – $753,000 |
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Franchise Disclosure Document
Training
Woodcraft, provides several types of training and operational assistance to franchisees. These include:
- Initial Training: This is an extensive program conducted at the franchisor's corporate headquarters, designed to cover all aspects of running a Woodcraft Retail Store. This program typically spans eight to nine days and includes comprehensive instruction for franchise owners or their general managers.
- Ongoing Training: The franchisor may provide additional training programs, which can include seminars, refresher courses, and informational meetings. Attendance at some of these sessions may be mandatory while others are optional. Franchisees are responsible for covering all travel and living expenses for these sessions.
- Training for New or Replacement General Managers: If a franchise hires a new general manager after the initial training, the franchisor requires the new hire to attend the next available training session, incurring a fee.
- On-Site Assistance: During the opening and initial operation of a new store, a franchisor representative is available to provide on-site assistance, including store setup and operations guidance.
- Operational Guidance: The franchisor's field representatives may periodically visit the store to offer guidance, training, and ensure compliance with brand standards.
Territory Protection
Woodcraft provides franchisees with a defined territory, but the level of protection is limited. While the franchise agreement may grant a specified territory to operate, it does not necessarily prevent the franchisor from competing within that area.
This means that Woodcraft reserves the right to operate competing businesses or sell directly to customers within the franchisee's territory under certain conditions.
The agreement outlines operating restrictions to maintain brand consistency and ensure adherence to company policies. However, these provisions often do not guarantee exclusivity, as the franchisor may retain rights to establish additional locations or partnerships nearby.
