More Space PlaceFranchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
FranchiseVerdict summary · 2026
A More Space Place franchise requires a total initial investment of $150K – $249K, including a $60K franchise fee and an ongoing 5.0% royalty[2]. Per the 2025 FDD, average unit revenue was $1.1M[2]. Verdict grade: B. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2025 FDD issuance
Overview
- Investment
- $150K – $249K
- 55th pct Home Services
- Avg gross sales
- $1.1M
- 34th pct Home Services
- Royalty
- 5.0%
- 5th pct Home Services
- Units
- 28
- 32nd pct Home Services
- SBA default
- 66.7%
- system-wide median varies by category
Quick verdict · Home Services · color = vs category peers
Green = >15% above Home Services avg · No shading = within ±15% · Red = >15% below avg · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Each dollar invested generates 5.7x in gross revenue, well above the typical 1.5-2.5x range.
Franchising since 1989. Systems this mature have refined operations and brand recognition.
Franchised units fell from 27 to 26 over 3 years. Investigate why operators are leaving.
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).
- Verdict B (Above Average) with a risk score of 55/100.
- Bankruptcy history disclosed in the FDD. Review Item 4 for details before proceeding.
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- Closets Unlimited of New Jersey, Inc.
- Incorporated in
- NJ
- HQ
- 436 Commerce Lane, Suite D, West Berlin, NJ 08091
- Auditor
- Cantor Novak Beaver & Pike, PC
- Audited financials
- Franchisor revenue
- $4.4M
- vs $4.3M prior year
Affiliated brands
- MSP Manufacturing
Other brands the franchisor or its parent operates (Item 1).
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.
- CEO
- Robert Lewis
- Headquarters
- NJ
- Founded
- 1987
- FDD year
- 2025
- States available
- 9
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $60K | $60K |
| Working capital (3–6 mo) | $12K | $15K |
| Equipment, build-out, other | $79K | $175K |
| Total initial investment | $150K | $249K |
Source: More Space Place 2025 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Single-unit · estimated
Returns at a glance
Indicative numbers using FDD Item 7 / Item 19 inputs and category-benchmarked cost ratios. Full single-unit, 25-unit portfolio, and LBO models (with every input editable to stress-test your own scenario) live on the financials page.
Store EBITDA · annual
$126K
11.0% margin
Unlevered ROIC
59%
EBITDA / total invested capital
Payback
20 mo
cash-on-cash, unlevered
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $150K – $249K
- Near category avg vs category
- Liquid capital req'd
- $12K – $15K
- Better than avg vs category
- Franchise fee
- $60K – $195K
- Near category avg vs category
- Royalty
- 5.0%
- Gross Revenues · typical 6–8%
- Ad fund
- $75 per week per territory
- Total fee load
- 5.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.0% of gross sales |
| Technology fee | $1K |
| Transfer fee | $23K |
| Renewal fee | $15K |
| Total fee load | 5.0% of rev |
A 5.0% total fee load is unusually lean. More of each revenue dollar stays with the franchisee.
Financial Performance
- Avg gross sales
- $1.1M
- Per unit, per year
- Median gross sales
- $1.3M
- Item 19 type
- gross_sales
- Sample size
- 16 units
- vs category median 25
- Range (low → high)
- $453K→$1.5M
- Cohort dispersion (min → max)
- Transparency tier
- revenue_only
- Categorical assessment of disclosure depth
- Reporting year
- 2024
- Fiscal year the figures cover
- Transparency
- 7 / 5
- vs category median 4 / 5 · above
Compared against 349 Home Services brands
Revenue is 5.7x the investment midpoint. At typical franchise margins, this suggests a payback under 3 years.
vs Home Services averages
How More Space Place Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 28
- Opened
- 1
- Last reporting year
- Closed
- 0
- Turnover rate
- 0.0%
- Company-owned
- 1
- Corporate units in the system
- % franchised
- 96%
- vs corporate-owned
- Net growth (yr3)
- +3.8%
- Net unit change last year
- 3-yr CAGR
- +3.8%
- Compounded over last 3 years
3-year detail · Item 20
- Opened (3yr)
- 1
- Transfers (3yr)
- 2
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 contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA loan disclosures. This brand has only 8 7(a) loans on file; statistical reliability is limited below 10 loans.
- Total loans
- 8
- Loan volume
- $6.9M
- Median loan
- $160K
- 50th percentile
- Charge-off rate
- 66.7%
- rates vary by category · see methodology
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- 33.3%
- 5-yr charge-off
- N/A
- Loans approved 2021+
- Active lenders
- 6
- Defaults
- 2
Explore lender portfolios on Bank Reports or regional data on State Reports.
Premium insight
SBA Lending Report
Deep-dive into More Space Place's SBA lending history: lender network, geographic footprint, interest rates, and more.
SBA Lending Report
- Principal loss rate and NAICS industry benchmark
- 6 lenders with concentration factor
- Per-state charge-off rates across 3 states
- Startup risk premium and job creation velocity
- 6-year lending trend
Instant access. No subscription.
Risk analysis
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.
Litigation (Item 3)
0 case reference(s): 3 pending, 0 settled.
Bankruptcy (Item 4)
Disclosed in last 7 years
Bankruptcy Code; (b) obtained a discharge of its debts under the bankruptcy code; or (c) was a principal officer of a company or a general partner in a partnership that either filed as a debtor (or had filed against it) a petition to start an action under the U.S. Bankruptcy Code or that obtained a
Audited financials (Item 21)
Yes · Cantor Novak Beaver & Pike, PC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Must buy proprietary products: No
- Restricted to system-approved products: Yes
Score breakdown · what drove the 55 / 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
| Initial term | 10 years |
|---|---|
| Renewal term | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | Population-based |
| Protected territory | Yes |
| Online sales rights | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| Termination notice | 90 days |
| Curable defaultsℹ | 1 |
| Mandatory arbitration | No |
| Jury trial waiver | Yes |
| Governing law | New Jersey |
| Litigation count | 0 |
View Item 3 litigation summary
0 case reference(s): 3 pending, 0 settled.
Items 10, 11
Training & Operations
- Classroom training
- 76 hrs
- On-the-job training
- 84 hrs
- Training location
- On-site and corporate
- Site selection
- franchisor
- POS system
- BIZTRAX
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: BIZTRAX
Item 20 · call current owners
Franchisee Contacts
16 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
More Space Place · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a More Space Place franchise?
The total investment to open a More Space Place franchise ranges from $150K – $249K, with an initial franchise fee of $60K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do More Space Place franchise owners earn?
According to Item 19 of the More Space Place FDD, the average gross sales per unit is $1.1M. The median is $1.3M. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is More Space Place's franchise failure rate?
SBA 7(a) loan charge-off data is not available for More Space Place (fewer than 10 loans on file). Charge-off rates are one way to gauge franchise risk, but not all franchise loans go through the SBA program. We recommend reviewing turnover and closure data in the FDD and speaking with current franchisees.
How many More Space Place franchise locations are there?
As of their most recent FDD filing, More Space Place has 28 total units in the United States, including 27 franchised units and 1 company-owned units. 1 new units were opened in the latest reporting year.
Is More Space Place a good franchise to buy?
FranchiseVerdict rates More Space Place as a B-grade franchise with a risk score of 55 out of 100, based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.