FranchiseVerdict
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FV-02347·MODERATEExcellent91

Slumberland

Home Services - OtherFranchising since 2007Website
Investment
$830K – $3.2M
100th pct Other
Avg revenue
$3.1M
56th pct Other
Royalty
Units
119
75th pct Other
SBA default
0.0%
vs <3% typical

Bottom line

  • Total investment $830K – $3.2M including a $55K franchise fee.
  • Average unit revenue of $3.1M/year (median $2.9M).
  • Rated MODERATE with a risk score of 55/100. SBA loan default rate of 0.0% across 34 loans (below the industry average).

Item 1 · who you're contracting with

The Franchisor

Legal entity
Slumberland Franchising, Inc.
Parent company
Slumberland International Co.
Incorporated in
Minnesota
HQ
3505 High Point Dr. N, Building #2, Oakdale, MN 55128
Auditor
Wipfli LLP
Audited financials
Franchisor revenue
$6.3M
vs $6.6M prior year

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 Slumberland unit return on the cash you put in?

Revenue · per unit, per year
$
FDD Item 19 reports $3,129,015
Franchisor take · royalty + ad fund
Royaltytyp 68%
%
Ad fundtyp 35%
%
Operating costs · category default: restoration
COGS
%
Labor
%
Rent / occupancy
%
Other operating
%
Total invested capital · what you actually put in
Initial investment
$
FDD Item 7: $830K–$3.2M
Working capital
$
FDD reports $150K–$300K

Unlevered ROIC · per unit

16%

Below typical band (30–60%)

0%30–60% Yale band80%

Store EBITDA · annual
$368K
EBITDA margin
11.8%
Total invested
$2.2M
Payback
73 mo
Unit-level only. A multi-unit portfolio gives up roughly 5–15% of this to shared services (corporate G&A) before reaching the ~10-unit break-even Yale describes.

Levered LBO scenario · Yale Crease Capital framing

What would 25 Slumberland units return on equity?

Edit assumptions

Equity IRR · 5-yr

34.4%

4.39× MOIC

Year-1 DSCR

2.36×

EBITDA ÷ debt service

Equity required

$5.4M

on $14.9M purchase

Total debt

$9.5M

SBA $5.0M + senior + seller note

SBA 7(a) request ($7.4M) exceeds the $5M program cap. Excess capped automatically; backfill via conventional or equity.

Overview

About

Slumberland franchisees operate showroom-based mattress and furniture retail locations, managing inventory, sales staff, customer financing, and delivery logistics. Day-to-day operations involve floor sales, credit processing, local marketing, and competing against both regional chains and direct-to-consumer online retailers in a commoditized category.

CEO
Kenneth S. Larson
Founded
1968
FDD year
2025
States available
11

Item 7 · what it costs

The Vitals

Total investment
$830K – $3.2M
All-in to open one unit
Liquid capital
$150K – $300K
Cash you must have on hand
Franchise fee
$55K
Royalty
The greater of: 3% of monthly Gross Revenues, or the mini…
Ad fund
1.3%
typical 3–5%
Total fee load
4.3%
vs 9–13% typical

Item 19

Financial Performance

Avg gross sales
$3.1M
Per unit, per year
Median gross sales
$2.9M
Item 19 type
Average Gross Revenues
Sample size
68 units
vs category median 21 · large
Range (low → high)
$805K$6.2M
Cohort dispersion
Transparency
4 / 5
vs category median 4 / 5 · typical
Revenue rank56th
vs Home Services - Other peers
Investment cost rank100th
Lower investment ranks lower (better)
Royalty rate rank54th
Lower royalty = lower percentile (better)
Unit count rank75th
vs Home Services - Other peers
Risk score rank40th
Lower risk = lower percentile (better)

Item 20 · unit dynamics

The Growth Chart

Total units
119
Opened
2
Last reporting year
Closed
0
Turnover rate
0.0%
Company-owned
48
Corporate units in the system
% franchised
60%
vs corporate-owned
Net growth (yr3)
+1.4%
Net unit change last year
3-yr CAGR
+0.0%
Compounded over last 3 years
2023
71+1
Franchised units
2024
70
Franchised units
2025
71
Franchised units

Year-over-year franchised unit counts and net change. Source: FDD Item 20.

Item 20 · 11 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).

AK
ME
VT
NH
MA
RI
CT
NY
NJ
PA
DE
MD
DC
WA
OR
CA
NV
ID
MT
WY
UT
CO
AZ
NM
ND
SD
NE
KS
OK
TX
MN
IA
MO
AR
LA
WI
IL
MS
TN
MI
IN
KY
AL
OH
WV
GA
VA
NC
SC
FL
HI
Registered · 11 states
Not registered

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.

Total loans
34
Loan volume
Avg loan
Default rate
0.0%
vs <3% typical · system-wide
5-yr default

FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17

Risk & Legal

55
Risk · 0-100
MODERATE55 / 100

Slumberland presents elevated risk due to near-zero system growth, undisclosed profitability metrics, capital-intensive model, and secular mattress/furniture retail decline—suitable only for operators with strong local market knowledge and financial reserves.

Score breakdown · what drove the 55 / 100 rating

  1. 01MINORStagnant unit growth at 1.4% YoY indicates mature/declining system with minimal expansion
  2. 02MEDNet income not disclosed in Item 19 prevents ROI validation and profitability assessment
  3. 03MEDHigh investment range ($829.5K-$3.2M) with no disclosed average net income creates unclear payback period
  4. 04MINORRoyalty structure tied to 3% of gross revenues offers no cost relief during downturns and incentivizes top-line over profitability
  5. 05MED15-year term locks franchisees into long commitment with limited exit flexibility in declining category
  6. 06MINORFurniture retail sector faces structural headwinds from e-commerce and DTC competition (Wayfair, Amazon, DTC brands)

Severity inferred from the FDD text · not a regulatory classification

FDD Items 5, 6, 12, 17 · continued from Risk & Legal

Contract & Territory Detail

Territory
Radius
Protected territory
Yes
Initial term
15 years
Renewal term
15 years
Online sales rights
Granted
Franchisor can compete
Yes
Hire a manager?
Allowed
Litigation count
0
Right of first refusal
Yes
Franchisor can buy back on resale
Mandatory arbitration
Yes
Jury trial waiver
Yes
Non-compete
1 yrs
Post-termination restriction
Owner-operator
Optional
Governing law
Minnesota

Item 11

Training & Operations

Classroom training
26 hrs
On-the-job training
200 hrs
POS system
point-of-sale, accounting and inventory access system
Operating tech stack

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

72 numbers

Locked
(605) 292-••••
SD
(906) 779-••••
MI
(608) 434-••••
WI

One-time purchase · CSV download · Validation questions included

FDD download

Slumberland · FDD (2025) PDF

Single-page checkout · instant download · CSV export of contacts available separately above