More Space Place
Formerly known as Closets Unlimited
Bottom line
- Total investment $150K – $249K including a $60K franchise fee, 5.0% ongoing royalty.
- Average unit revenue of $1.1M/year (median $1.3M).
- Rated STRONG with a risk score of 41/100. SBA loan default rate of 0.0% across 12 loans (below the industry average).
Item 1 · who you're contracting with
The Franchisor
Yale framework · single-unit ROIC
Returns Analysis
Pulls Item 7 (investment) and Item 19 (revenue) from this brand's FDD into the Yale unlevered-ROIC formula. Override any input to stress-test it against your own assumptions.
The model · Yale framework
What would one More Space Place unit return on the cash you put in?
Unlevered ROIC · per unit
59%
In Yale's "attractive" band (30–60%)
Levered LBO scenario · Yale Crease Capital framing
What would 25 More Space Place units return on equity?
Equity IRR · 5-yr
49.9%
7.57× MOIC
Year-1 DSCR
1.88×
EBITDA ÷ debt service
Equity required
$916K
on $4.6M purchase
Total debt
$3.7M
SBA $2.3M + senior + seller note
Overview
About
More Space Place franchisees operate self-storage rental facilities, managing unit leasing, tenant relations, facility maintenance, and administrative operations. Day-to-day activities include showing units to prospective customers, processing rental agreements, collecting payments, managing occupancy rates, and maintaining storage facility grounds and security systems.
Item 7 · what it costs
The Vitals
Item 19
Financial Performance
Item 20 · unit dynamics
The Growth Chart
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 14 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator — not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee phone area codes (Item 20). Approximate — ported numbers may show the original state, not the franchisee's current location.
Government records
SBA Loan Data
Aggregated from SBA 7(a) loan disclosures, public data unique to FranchiseVerdict.
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
More Space Place presents moderate-to-cautious risk due to undisclosed profitability metrics, anemic unit growth, and opaque financial transparency despite reasonable revenue averages.
Score breakdown · what drove the 41 / 100 rating
- 01MEDNet income not disclosed in Item 19 — impossible to validate actual profitability claims against $1.14M average revenue
- 02MINORMinimal system growth of 3.8% YoY with only 28 units suggests stagnant or saturated market
- 03MINORHigh minimum royalty ($125/week = $6,500/year) creates baseline cost regardless of revenue performance
- 04MEDFranchise fee of $59,500 represents 5.2% of total investment with limited disclosed ROI data
- 05HIGHNo going concern issues stated, but lack of net income transparency raises questions about system viability
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
Item 11
Training & Operations
Item 20
Franchisee Contacts
Phone numbers extracted directly from this brand's FDD Item 20. After purchase, you'll also receive a list of validation questions tailored to this brand.
Franchisee contacts
16 numbers
One-time purchase · CSV download · Validation questions included
FDD download
More Space Place · FDD (2025) PDF