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Mr. Electric

68

FSI

Cash Required

$45,000

Total Startup Investment

$97,600 - $234,750

Net Worth Required

Year Founded

1994

Franchising Since

1994

US/Canada Franchise Units

175

Franchise Owner Reviews

Reviewed by 99 franchise owners (67% of owners)

Verified Mr. Electric Owner Reviews

David, Overall Brand Rating: 81 FSI

Single-Unit Owner, Large Market (250,000 - 499,999)

“My franchise consultant is very busy and can be hard to reach, it would be good to have more franchise consultants that are not spread thin. The support we receive is great when we do receive it — everyone is willing to bend over backwards to help and I feel that they take ownership of issues to get resolution.”- David, Mr. Electric Franchise Owner

Stacey, Overall Brand Rating: 70 FSI

Single-Unit Owner, Large Market (250,000 - 499,999)

“I feel that the franchise community is the backbone to our support network. They have become very important to us, and we rely on their fellowship and collaboration as well as feedback.” - Stacey, Mr. Electric Franchise Owner

Mr. Electric Expert Review

Mr. Electric is owned by Neighborly, formerly known as The Dwyer Group. Neighborly owns 19 franchise brands and is one of the world’s largest parent companies of home service brands, acquired by Harvest Partners, LP, a New York based private equity firm.

Mr. Electric is a good option for current or former electrical business owners who are looking to convert their current business or who are interested in getting back into business ownership but with the backing of a franchise team. Of course, it is not required that you have previous experience in the electrical space to start your own Mr. Electric business, but you should have solid technical and customer service skills as well as the dedication required to learn a new business and get it off the ground.

Current Mr. Electric franchise owners rate the brand highly when it comes to Core Values, Leadership and the Franchisee Community, but say that Neighborly could improve in the areas of Support and Training and Financial Opportunity, noting that royalty fees are a bit high but that long term growth looks strong. Franchisees also note that the greatest challenges they face as Mr. Electric owners is hiring staff, which is a very common struggle for most business owners across industries, but especially in the trades where skilled technicians can be hard to find.

Our Bottom Line: If you have experience as a business owner in the home services space and are ready to take on the challenge of recruiting and retaining skilled technicians, Mr. Electric is a solid option and top-rated brand.

Mr. Electric Franchisee Profile

Tenure - 57% of Mr. Electric owners have been open and operating 5 years or less (31% - less than 2 years, 26% - 2-5 years)

Units/Territories - 65% of Mr. Electric owners own/run a single unit/territory

Location - 49% of Mr. Electric owners are located in the South

Market Size - 36% of Mr. Electric owners operate in markets with 100,000 - 249,999 population (Medium Market)

Work Hours - The majority of Mr. Electric owners work 50+ hours/week

Work Weekends - 44% of Mr. Electric owners state "they work weekends a couple times a month"

Flexibility - 37% of Mr. Electric owners state their work schedule is somewhat flexible

Work-Life Balance - 35% of Mr. Electric owners say they have a balanced work-life

Age Group - 70% of Mr. Electric owners are 45 years or older

Sex - 80% of the respondents to our FBR survey are male

Awards and Recognition

Top 200 Franchise (2008, 2019)

Top Franchise for Veterans (2016, 2018)

Next Steps

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Download the franchisee satisfaction report on Mr. Electric absolutely free

Download Free Report

Download the franchisee satisfaction report on Mr. Electric absolutely free

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Corporate Contact Information

Mr. Electric

1010 University Parks Dr.
Waco, TX 76707

Ronnie Musick
Phone: 254.759.5861
Email: [email protected]

franchise.mrelectric.com

Franchisee of the Year

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