Top 100 Franchises
2014
Established in 1994, Mr. Electric is a global franchise organization providing electrical installation and repair services. Recognized by Entrepreneur magazine among its "Franchise 500," Mr. Electric franchisees provide these services to both residential and commercial customers at 160 locations worldwide. Mr. Electric is part of The Dwyer Group family of companies, which also includes Rainbow International, Mr. Rooter, Aire Serv, Mr. Appliance, and Glass Doctor.
| Year | Franchised | Change | Company-Owned | Change | Total | Change |
|---|---|---|---|---|---|---|
| 2012 | 131 | 0.0% | 0 | -- | 131 | 0.0% |
| 2011 | 131 | -2.24% | 0 | -- | 131 | -2.24% |
| 2010 | 134 | -- | 0 | -- | 134 | -- |
Investment Required
The initial franchise fee for a Mr. Electric Corp. franchise is $28,000, plus $280 per 1,000 population for additional territory. Mr. Electric Corp. provides the following range of investments required to open your initial franchise. The range assumes that all items are paid for in cash. To the extent that you choose to finance any of these expense items, your front-end investment could be substantially reduced.
| Item | Established Low Range | Established High Range |
|---|---|---|
| Initial Franchise Fee | $28,000 | $28,000 + $280 per 1,000 additional pop. |
| Vehicle | $2,200 | $27,000 |
| Equipment, Supplies & Inventory | $11,000 | $17,000 |
| Insurance | $1,200 | $2,500 |
| Advertising & Promotional | $5,000 | $35,000 |
| Expenses While Training | $3,000 | $7,000 |
| Deposits, Permits & Licenses | $1,000 | $2,500 |
| Professional Fees | $0 | $5,000 |
| Additional Funds (3 Months) | $25,000 | $50,000 |
| Total Initial Investment | $76,400 | $174,000 + any additional franchise fee |
| (no required investments data found) |
Ongoing Expenses
Mr. Electric Corp. franchisees pay a weekly license fee of 6-8% of gross sales, a weekly MAP fee of 2% of gross sales, and an advertising cooperative fee of up to 2% of gross sales. Additional fees include software training and support fees, call center fees, and training fees.
What You Get: Training and Support
Mr. Electic Corp. offers a two-part training program for new managers and franchisees. Phase I involves 16 hours of classroom training, provided via webinar or video conferencing. Topics covered include marketing, public relations basics, building your budget, and understanding your franchise agreement. Phase II of the training program combines both classroom and hands-on training methods, and takes place at the company offices in Waco, Texas. The second phase generally lasts about 5 days. Lastly, all trainees must complete 1-5 days of field training at a Mr. Electric franchised business selected by the company.
Territory
Mr. Electric Corp. does not grant exclusive territories.
Note: The tables and information regarding the number of operating units, investment required, ongoing expenses, training and territory grants were taken from the company's 2013 FDD.
