Franchising mattress stores isn’t for everyone. But for Snooze Mattress and Wellness Co., the model is proving to be a powerful tool that’s fueling growth.
Owner and founder Matt Smith, who started Snooze in 2019 in Pueblo, Colorado, began franchising stores in 2021 and the brand has grown immensely in that short amount of time.
“We started this year with nine stores, and we’ll finish the year with 50,” he says. “In a weird economy, we’re very blessed to be able to do that. We’re doing something different, and it’s been fun. In addition to our U.S. stores, we have stores in Ireland, and we’re going into Canada, Dubai and London.”
According to the company’s website, the store has 32 stores open in the U.S. right now. There are also five “coming soon” locations listed for Alabama (two), Texas (two) and Michigan (one).
Smith says he attributes this growth and success to the different perspective the brand takes on selling bedding.
“From my standpoint, I’ve been in the mattress industry for 26 years, and I’m not a mattress guy,” he says. “We are a sleep shop and we want to be able to do unique things, from the Snooze-labeled pajamas we wear to the technology and the serious conversations we have about health and wellness. It’s not a mattress store; it’s a sleep shop. Our goal was always to disrupt the franchise industry, which is mainly made up of restaurants with a lot of employees and moving parts.”
He says Snooze also wanted to disrupt the mattress industry because, despite consumers caring about health and wellness more than ever, mattress stores stay stagnant because they still take the mindset of a used-car salesman.
According to the Global Wellness Institute, the global wellness market is experiencing rapid growth, reaching a record $6.3 trillion by the end of 2023 and forecast to hit $9 trillion by 2028.
“All mattress stores ever talk about are sales and free delivery, and they don’t focus on what people need to sleep well. What’s their pain? Maybe it’s not a mattress they need, but maybe another healing tool. One of the most important things a human can do is sleep, and it’s the human superpower, yet we still only talk about better pricing, technology, foam. Mattresses should be taken seriously as a medical device and a wellness product.”
That idea has driven Smith and Snooze to expand its product assortment and bring in unique health and wellness-related products. Smith says the store is testing red-light therapies and has already stocked some stores with ice baths and melatonin.
“It’s going to continue to change our conversation,” Smith says. “We changed our name from Snooze Mattress to Snooze Mattress and Wellness about six months ago, and it’s because we want to be more wellness-focused. The customer coming in wants to know what options will help them live their best life.”
Overall, Smith says he’s optimistic about his franchise stores as well as the state of the mattress industry, adding that he believes the TSI/Mattress Firm acquisition will be good for the industry.
“Sleep Number is not doing great, and that hurts our industry because they’re not advertising,” he says. “That top-of-mind mentality helps everybody. And I think the same thing goes with (Somnigroup International). They’ll definitely be top of mind, and that will.”
