Closet Factory vs More Space Place
Closet Factory vs More Space Place: Closet Factory costs $345K to $612K to open; More Space Place costs $263K to $619K. Closet Factory has 55 units, More Space Place has 6. SBA loan history: Closet Factory = 75 loans (16.0% default); More Space Place = 8 loans (25.0% default). The franchise with more SBA funded units, a lower SBA default rate, and a lower royalty load is the safer financing bet; see the comparison below.
Closet Factory vs More Space Place: Capital, Scale & Lending Analysis
Analysis based on FDD filings and SBA 7(a) loan level data. Each pairing reflects a unique combination of capital intensity, system scale, and financing path.
Capital Intensity
More Space Place requires the lower minimum capital commitment ($263K vs $345K for Closet Factory), a 31% spread. Initial franchise fees come in at $59K for Closet Factory versus $30K for More Space Place, More Space Place has the lower entry fee. Ongoing royalty load is 6.75% for Closet Factory and 6% for More Space Place, giving More Space Place the lighter per-unit drag on operating income.
System Scale & Tenure
On scale, Closet Factory operates 55 units to More Space Place's 6, roughly 9× the system size.
SBA Lending Profile
Closet Factory has the deeper SBA lending track record, with 75 7(a) approvals compared with 8 for More Space Place. Closet Factory's peak SBA year was 2000 (9 loans); More Space Place's peak was 2009 (2 loans). More Space Place's more recent peak generally indicates fresher lender appetite. Both systems have the most SBA funded units in FL. Borrowers in that state will find the deepest lender familiarity with either brand. Average SBA loan size on funded Closet Factory deals is $416K vs $858K for More Space Place, useful as a sizing anchor when modeling your own unit.
Risk Signal
SBA default rates are 16.0% for Closet Factory and 25.0% for More Space Place, Closet Factory has the cleaner SBA loss record by 9.0 points. PeerSense FPI scores come in at 57 (Moderate) for Closet Factory and 26 (Fair) for More Space Place, giving Closet Factory the stronger composite signal across SBA performance, lender appetite, and operational consistency.
Health & Performance
FPI Score | 57/100 | 26/100 |
Health Tier | Moderate | Limited |
Confidence | N/A | N/A |
Lending Trend | Declining | Declining |
SBA Lending
SBA Loans | 75 | 8 |
SBA Volume | – | – |
Default Rate | 16.0% | 25.0% |
Peer Tier | established | emerging |
Investment & Costs
Total Investment | $345K to $612K | $263K to $619K |
Franchise Fee | $59K | $30K |
Royalty Rate | 6.75% | 6% |
Ad Fund | 15% | 1% |
Liquid Capital | N/A | N/A |
Net Worth Required | N/A | N/A |
Financial Performance (Item 19)
Item 19 Status | Disclosed | Not Disclosed |
System Size & Operations
Total Units | 55 | 6 |
Franchised Units | 55 | 6 |
Company Owned | – | – |
Term Length | 5 yrs | 10 yrs |
Brand Information
Year Founded | 1983 | N/A |
Franchising Since | 1985 | N/A |
Years Franchising | 41 yrs | N/A |
Headquarters | Los Angeles, TX | Bradenton, FL |
Category | Other Building Finishing Contractors | Other Building Finishing Contractors |
Website | ||
FDD Year | 2025 | 2025 |
Which Is Better, Closet Factory or More Space Place?
Lower upfront capital required
More Space Place
Closet Factory: $345K starting · More Space Place: $263K starting
More SBA lender confidence
Closet Factory
Closet Factory: 75 SBA loans · More Space Place: 8 SBA loans
Lower SBA default rate
Closet Factory
Closet Factory: 16.0% · More Space Place: 25.0%
Larger system & brand presence
Closet Factory
Closet Factory: 55 units · More Space Place: 6 units
Lower ongoing royalty load
More Space Place
Closet Factory: 6.75% · More Space Place: 6%
More lender financing options
Closet Factory
Closet Factory: 27 unique lenders · More Space Place: 6 unique lenders
Decision matrix uses publicly disclosed FDD and SBA loan data. Not a recommendation. Your best franchise depends on capital, market, operating capacity, and risk tolerance.
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Closet Factory vs More Space Place: Franchise Funding Comparison
Comparing Closet Factory and More Space Place is about more than brand preference. It's about which franchise fits your financial profile and funding strategy. Investment ranges from $263K to $619K.
Closet Factory has 75 SBA loans on record and More Space Place has 8. Those totals are cumulative history rather than a measure of current appetite. Recent lending activity is trending down for at least one of these brands, so current lender appetite has to be checked deal by deal rather than assumed from the totals.
SBA 7(a) loans are the most common franchise funding vehicle, offering up to $5M with as little as 10% down. PeerSense connects franchise buyers with the specific lenders who have approved loans for these brands, not generic referrals, but lenders with actual franchise lending track records.
Data sourced from SBA loan records, Franchise Disclosure Documents, and public filings. Updated regularly. Not financial advice, consult with a lending professional before making investment decisions.
Closet Factory vs More Space Place, Frequently Asked Questions
Which is a better franchise investment, Closet Factory or More Space Place?
How much does a Closet Factory franchise cost compared to More Space Place?
Can I finance Closet Factory or More Space Place with an SBA loan?
Which has a lower SBA default rate, Closet Factory or More Space Place?
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Page Review
Reviewed by Edward L. Freeman, Founder and Managing Director, PeerSense
- PeerSense is a capital advisory firm that places commercial financing with direct capital sources; the capital source sets final terms.
- Edward L. Freeman founded PeerSense in January 2020.
- He is a Registered Franchise Consultant with Business Alliance, Inc., a credential issued in March 2022, and worked as a franchise consultant there from March 2022 to May 2023.
- His recorded experience includes a $22 million SBA construction loan, with about $16 million funded on the deal.
- In the 12 months through September 30, 2026, PeerSense tracked 912 publicly announced financings with a disclosed size of $361.32 billion. PeerSense Capital Data Report · Methodology page
Last reviewed LinkedIn profileAbout Edward Freeman