Fibrenew

How Michael Wilson Built a Lucrative Market Gap-Filling Franchise Business

February 22nd, 2025

Founded By

Allen Odvody

Starting Costs

$65K

Monthly Traffic

75.7K

Profitable

Yes

Year Started

1987

Customer

B2B & B2C

Founded By
Allen Odvody: Starting Costs
$65K

Monthly Traffic
75.7K: Profitable
Yes

Year Started
1987: Customer
B2B & B2C

Who is Allen Odvody?

Allen Odvody is an entrepreneur with 20 years of corporate experience, previously working as a Director of Operations in the furniture rental industry before transitioning to franchise ownership with Fibrenew in Puerto Rico.

What problem does Fibrenew solve?

Fibrenew resolves the costly hassle of replacing worn-out leather, plastic, and vinyl by providing affordable, on-location restoration services, saving customers both time and money.

How did Allen come up with the idea for Fibrenew?

After spending over 15 years in the furniture rental industry, Allen Odvody felt ready for a transformation. He loved the idea of settling in Puerto Rico but couldn't shake off the feeling of being stuck in a corporate world that no longer inspired him. Allen wanted a life filled with purpose and sparked by passion, leading him to consider business ownership as a new path.

The turning point came when a franchise recruiter reached out via email, prompting Allen to explore franchising possibilities. While Allen didn't know much about franchises initially, he realized that this model could allow him to own a business with a supportive framework. He worked with a consultant to narrow down his options, focusing on businesses that matched his values, particularly sustainability and flexibility.

The process highlighted Fibrenew as an ideal fit, addressing both market needs and Allen's personal aspirations. With little competition in Puerto Rico, Allen saw immense potential in providing a unique service. This journey taught him the importance of aligning business choices with personal values while embracing unexpected opportunities.

How did Allen Odvody build the initial version of Fibrenew?

Fibrenew built its product through a meticulous process geared towards mobile restoration services for leather, plastic, and vinyl items. The development involved refining unique techniques and products that enable technicians to repair damages such as holes, cracks, stains, and burns "in situ," meaning at the location of the client. This allowed for a more economical and time-effective alternative to replacement. Fibrenew has continually invested in developing its proprietary products and systems, which are central to the franchise’s service offerings and have been refined over more than 28 years. Challenges in building the product included perfecting color matching and ensuring the durability of repair techniques—all of which required ongoing investment and adaptation to maintain their competitive edge in the market.

What was the growth strategy for Fibrenew and how did they scale?

SEO

Fibrenew has effectively utilized search engine optimization (SEO) to capture its target audience. By focusing on keywords relevant to leather, vinyl, and plastic restoration services, they have positioned themselves as experts in these niche markets. Their approach includes creating detailed online content that highlights the unique aspects of their services, such as on-site repairs that save customers time and money compared to full replacements.

Why it worked: Customers searching for cost-effective repair options for leather, vinyl, and plastic items often land on Fibrenew's site. By targeting keywords like "leather repair" and "vinyl restoration," Fibrenew attracts visitors actively seeking their specialized services. This not only drives traffic but also brings in individuals who are ready to purchase, increasing conversion rates.

Franchise Network Growth

Expanding their franchise network has been a significant growth channel for Fibrenew. By expanding into new territories and markets, both locally and internationally, they have boosted brand presence and increased service availability. Leveraging a mobile franchise model allows franchisees to operate efficiently without the overhead of a brick-and-mortar location.

Why it worked: The franchise model provides franchisees with proven systems and a support network, making it easier to succeed. This has led to a strong, cohesive network of over 300 franchise locations worldwide. The model empowers franchisees while maintaining the quality and consistency of Fibrenew's services, further strengthening the brand.

Networking and Real-World Engagement

Fibrenew emphasizes direct interaction with potential customers through networking and real-world engagement. Franchisees engage with communities, local businesses, and individuals to introduce and explain their services. This approach helps establish personal connections and trust within the community.

Why it worked: Personal engagement builds trust and credibility. By interacting directly with potential customers, franchisees can effectively demonstrate the value of Fibrenew's services. This face-to-face marketing is crucial in areas where word-of-mouth and personal referrals can significantly influence purchasing decisions, leading to high customer retention and repeat business.

What's the pricing strategy for Fibrenew?

Fibrenew's franchise model charges flat-rate royalties, allowing franchisees to control pricing for leather, plastic, and vinyl restoration services on-site, offering cost-effective alternatives to replacement.

What were the biggest lessons learned from building Fibrenew?

Embrace Flexibility: Allen highlighted the value of a flexible schedule paired with financial success. By choosing a franchise that aligned with his lifestyle goals, he maintained a balance between work and personal life, illustrating that flexibility can lead to increased job satisfaction.
Value Hard Work: Transitioning from corporate to entrepreneurship requires effort. Allen emphasized the necessity of putting in hard work, just as intensely as in a corporate setting, to ensure success in a franchise model.
Utilize Support Systems: Leveraging the support from Fibrenew's other franchisees and training team was crucial. Allen's story underscores the importance of using available resources and networks to overcome challenges and streamline operations.
Celebrate Bad Days: Allen's perspective on celebrating tough days is a powerful reminder that resilience is key in entrepreneurship. By learning from mistakes and enduring through difficult times, entrepreneurs can develop stronger business acumen.
Align with Your Passion: Choosing Fibrenew because it matched his interests shows the significance of aligning a business venture with personal passions. This alignment can lead to fulfillment and higher engagement in day-to-day operations.

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