eBook: Buying a Franchise – an Inside Look
...
Mr. Electric Franchise
Mr. Electric is a franchise that provides residential and commercial customers with electrical installation and repair services. The franchise has more than 150 locations in the United States and is a subsidiary of Neighborly Brand Franchises.
Request InformationMr. Electric Franchise Opportunity
Since 1994, Mr. Electric® has specialized in electrical installation and repair for both residential and business customers. Mr. Electric® independently owned and operated franchisees now serve customers from 200+ locations across the globe. As part of Neighborly® Mr. Electric® is backed by one of the most successful organizations in franchising. Franchisees may choose to open a new business or convert an existing electrical business. Financing assistance may be available to qualified buyers.
Recognized by Entrepreneur Magazine® among its “Franchise 500®,” Mr. Electric® is a nationally-recognized industry leader in electrical installation and repair, and is backed by Neighborly®, one of the world’s largest families of service-based franchises. As a Neighborly® company, Mr. Electric® franchisees benefit from a network of over 12 million+ customers and 5,000+ franchises worldwide, with 30 industry leading brands, allowing for referral and multi-brand marketing expertise in North America & Europe.
Franchising with Mr. Electric
Business Model
Where Others See Outlets, We See Opportunity. Mr. Electric is about way more than hanging ceiling fans. Mr. Electric has the power to interconnect entire homes, making them safer, more convenient and more efficient for the whole family – and they’ve been doing so since 1994. Today, Mr. Electric is the largest full-service electrical franchise in the country.
Operating in three main service categories – Safety, Installation & Lighting – amped up owners work within a business model that includes:
SMALL FOOTPRINT
Low overhead is part of the beauty of Mr. Electric’s model. Initial office space is not required, and only needed when you deem necessary.
LIMITED RECEIVABLES
Most projects are “cash jobs” where your techs leave with payment. Rarely do you have to chase down receivables.
MARKETING-DRIVEN
Mr. Electric’s in-demand electrical services are sought out by the customer. They find you; no cold calling necessary.
PRIME TERRITORIES
Mr. Electric offers designated territories with room to grow in numerous markets all across North America.
Key Benefits
Purchasing a Mr. Electric® franchise could be your opportunity to deliver exceptional service for residential and commercial customers in need of electrical services. With a Mr. Electric® franchise, owners enjoy the independence of starting their own business, or converting their existing one, with the security of joining forces with a nationally recognized brand.
A potential franchisee without electrical experience or licensing may qualify to open an electrical service franchise through our robust business system. Already licensed electrical contractors or technicians may be abundantly qualified to own a franchise and expand their current business.
Mr. Electric® franchisees are offered unprecedented support:
Comprehensive ongoing training and support: Our Sure Start training program helps equip our franchisees with the knowledge and support needed to run their operations most efficiently with proven technology and software, systems training and a dedicated Franchise Consultant.
National brand recognition coupled with an exclusive territory.
Call center support for customer management and setting appointments.
Marketing: Superior marketing strategies and support that leverages the nationally recognized and respected brand name along with an extensive customer database collected from the local family of Neighborly® home service brands, to provide you with the most effective marketing strategies and tools possible.
Web: Leading web presence, national and customizable local website, bold online social media presence, national search engine optimization (SEO) strategy, and online reputation management support.
IT: Software training and IT support
Nationwide networking support: Over 200+ fellow franchisees to consult with, plus the opportunity to gather at Regional and National Conferences.
Vendor Discounts: Cut your expenses with ProTradeNet, a program offering preferred discounts through membership and potential annual rebates.
Marketing Support
Marketing: Superior marketing strategies and support that leverages the nationally recognized and respected brand name along with an extensive customer database collected from the local family of Neighborly® home service brands, to provide you with the most effective marketing strategies and tools possible. Web: Leading web presence, national and customizable local website, bold online social media presence, national search engine optimization (SEO) strategy, and online reputation management support.
Training Programs
Comprehensive ongoing training and support: Our Sure Start training program helps equip our franchisees with the knowledge and support needed to run their operations most efficiently with proven technology and software, systems training and a dedicated Franchise Consultant.
Mr. Electric Cost & Fees
Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
-
Initial Investment
The total estimated cost for establishing the business (including: franchise fee, fixed assets, inventory, deposits, other fees and costs, and the working capital required for initial start-up).
$107,900 - $244,500 -
Net Worth Requirement
Net worth is the value of all assets, minus the total of all liabilities (what is owned minus what is owed).
$100,000 -
Cash Requirement
Your liquid capital, or the cash you need on-hand in order to be able to enter into the franchise agreement.
$50,000
Mr. Electric Videos
Hear what makes Mr. Electric an innovative & in demand franchise opportunity
Mr. Electric® President Joel Worthington
Mr. Electric Awards from Franchise Business Review
More About Mr. Electric
The Benefits of Owning a NeighborlyⓇ Service-Based Franchise
Brad Stevenson, Neighborly’s chief development officer, said, “Joining a franchise network like Neighborly provides entrepreneurs with the tools and resources they need to launch and grow their business effectively and successfully. Having the support of a network like Neighborly can help make your dreams of owning a business a reality."
2020 Highlights Franchising Greatest Strength: Community
To stay afloat during the pandemic, many businesses were forced to adapt to a new world in which virtual communication, curbside pickup, and cleanliness are of utmost importance. As a result, many brands have learned a lesson or two about their resilience in the face of challenge.
Best Franchises for Couples
Thinking of going into business with your significant other? Many have discovered that the reward of going into business with their partner has far outweighed any risks that may have originally deterred them.
Military Veterans Are Uniquely Qualified To Become Successful Franchise Owners
“Veterans are very resilient by nature. If anyone is well-equipped to operate under challenging circumstances, veteran franchise owners are.” -Eric Stites, Franchise Business Review Founder & CEO
Yes! I want to learn more about owning a Mr. Electric Franchise
- Min. Cash Required: $50,000
- Net Worth Required: $100,000
- Total Startup Investment: $107,900 - $244,500
- Franchising Since: 1994
- Franchise Units: 217
Available Markets
United States:
AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
Canada:
AB, BC, MB, NB, NL, NS, NT, NU, ON, PE, SK, YT