🍟 9/7/2023 – Emerging Pet and Home Services Franchises
FRANCHISES OF THE WEEK
1) Mr. Electric
Fast Facts
Background
- HQ: Waco, TX
- Founded in 1994, franchising since 1994
- Specializing in electrical services for residential and commercial properties
Location Trends
Franchise Fees
- Royalty: 4% – 7%
- Brand Fund: 2%
- Franchise Fee: $42,500
Financial Overview
- The below table discloses information on 180 Mr. Electric businesses that were operational from January 1, 2022 through December 31, 2022
The Wolf’s Take 🍟
Mr. Electric is a well established home services company specializing in electrical services.
Two data points speak for themselves: the potential return on investment, and the degree of proof of concept this brand has.
With 180 territories operating, this franchise has shown they have a playbook that works.
The biggest question for me would be how difficult is it to find electricians to hire, as if you are not one yourself, you are then entirely reliant on skilled labor that requires certain licenses.
Overall, this is yet another home-services franchise that could be a quality business opportunity for entrepreneurs.
Resources
- Mr. Electric Franchise Website
- Mr. Electric breaks ground on new office space and warehouse facility in Huntsville
2) The Dog Wizard
Fast Facts
Background
- HQ: Charlotte, NC
- Founded in 2005, franchising since 2013
- Dog training and behavior modification to help pet owners address their canine companions’ behavioral issues
Location Trends
Franchise Fees
- Royalty: 8%
- Brand Fund: 2%
- Franchise Fee: $50,000
Financial Overview
- The below table discloses information on 38 outlets that operated for the full calendar year 2022
The Wolf’s Take 🍟
At a certain point, the pet industry may certainly become oversaturated.
But from anecdotal feedback I’ve heard from within the pet industry and from pet owners at large, it doesn’t feel like we’re there yet.
There are still long wait times to get in with vets, dog groomers, dog trainers, etc. in many markets nationwide.
The Dog Wizard is another opportunity to get into the pet industry, which has been averaging ~7.5% annual growth since covid hit.
Check out their website below if you’re interested in running a dog training business!
Resources
FROM THE POD
Todd Bingham – Homefront Brands
Check out my conversation with Todd Bingham, President of Top Rail Fence, here!
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