Q&A With Closet & Storage Concepts President and CEO, Bob Lewis
What about Closet & Storage Concepts makes it unique within its industry?
We’re really the leaders in the industry with regard to space-saving home furnishings. Closet & Storage Concepts has the largest product assortment of any brand out there. But what really makes us unique is the fact that we’re the only franchise system in the home organization industry that offers three different business models for our franchise owners.
The first allows franchisees to have a showroom and manufacture their own products in-house. The second opens the door for franchisees to only run a showroom and buy their products from a facility that we own as a corporate brand. The last model is a combination of both. Franchisees can have a showroom, manufacture their own goods and then sell their products to other franchise owners in their region.
What have been some of the brands most important milestones over the past five years?
Acquiring the More Space Place franchise system three years ago was a major milestone for us. We were able to double the size of the company—under Closet & Storage’s ownership, More Space Place’s franchisees have seen their average unit volume double. We’ve also been listed as one of the top 300 franchises in the world by Franchise Times in addition to being ranked 16th on the publication’s “Fast and Serious” list.
What plans does the brand have in the coming years?
Our plan is to grow at a rate of five to six units a year. As we continue to expand, Closet & Storage Concepts’ opportunity will become more recognizable to new franchisees across the country, ultimately opening the door to new markets.
What does an ideal franchisee look like?
The ideal Closet & Storage Concepts franchisee is someone who has prior sales or sales management experience. At the end of the day, our business is about customer service, and there’s no better background for someone delivering top quality customer service than someone who is coming out of a sales or sales management background. We’re also looking for hands-on owners who want to be involved with the day to day operations of their business.
Why is Closet & Storage Concepts a good investment?
We’re at the forefront of a rapidly growing industry. There are several trends working in our favor in the housing industry right now—millennials and younger people are moving into smaller spaces in urban settings while baby boomers are downsizing. That means that there’s a high demand for space-saving home furnishing products. Closet & Storage Concepts is the obvious solution for those customers because of our proven track record, unbeatable product offerings and commitment to quality.