Close The Deal Podcast with Matt Smith

Founder - Snooze Mattress Company

In a special episode of "Close the Deal Podcast" titled "Your First Franchise," Ewell Smith welcomes Matt Smith, the founder of Snooze Mattress Company, known for its feature on Discovery Channel's "Undercover Billionaire." Matt shares his journey of starting Snooze, emphasizing the challenges of transitioning from a franchisee to a franchisor, highlighting the importance of systems, processes, and the right team. He expresses gratitude for his dedicated team, franchise coaches, attorneys, and his supportive family.

Matt's mission with Snooze is to disrupt both the franchising and mattress industries by focusing on sleep and health. Snooze differentiates itself by offering a unique customer experience, incorporating technology to custom fit mattresses, pillows, and sleep accessories based on individual needs. The company aims to address various sleep issues and overall wellness, offering products like diffusers, sound machines, and even sleep apnea tests. Matt emphasizes that their stores provide more than just mattresses; they offer comprehensive sleep solutions, including environmental factors affecting sleep quality.

From a franchisee perspective, Snooze offers a simple setup with minimal employees required. The investment level ranges from $199,000 to $400,000, with an average cost under $250,000, depending on the build-out specifics. The company provides extensive support, including training, technology, and marketing. Snooze has competitive margins, with average sales figures comparable to leading mattress retailers. The brand's strong buying power and streamlined operations make it an attractive franchise opportunity.

Matt shares the story of Snooze's name, which he trademarked after discovering it was not previously registered. He explains the company's global trademark ambitions as they plan to expand into Ireland and Mexico. On the revenue side, Matt points out the high margins and low break-even points, making Snooze a lucrative franchise option. He highlights the universal need for sleep and the potential for franchisees to expand into related markets like hotels and Airbnb.

Overall, Matt's journey and Snooze's innovative approach to the mattress and sleep industry are presented as a testament to the potential for success through franchising. The episode will inspire entrepreneurs showcasing how Snooze is transforming the industry with its unique customer experience and franchise model.