Mr. Electric
Professional Services Maintenance ServicesCompany Information
Address
1010-1020 North University Parks Drive Waco, Texas 76707
Website
Tel
Not Available
Email
Franchise Summary
Description
As a franchisee, you will sell service and repair electrical systems, equipment, components and supplies, including installation, upgrades and remodeling for residential and commercial customers.
Company Background
Mr. Electric is the leading electrical contracting franchise company in North America, with more than 900 independently owned and operated franchises providing full-service residential and commercial electrical services.
Franchise Opportunity
Looking for a job in construction is hard. The home services industry is growing faster than any other sector of the economy, with more than $300 billion in annual sales. There are over 300 million homes in the US alone and most homeowners need regular maintenance, repair or upgrades to their electrical systems. Mr Electric franchisees have access to an extensive selection of products that they can sell to customers who want everything from basic repairs on light switches and outlets, to whole-home remodels; including new wiring, panel upgrades and smart thermostats that make it easy for you to control your heating and cooling remotely via smartphone app. We offer 24/7 support through our national network of offices as well as online tools like chat boxes on our website so we can help you close leads at all hours of the day!
Corporate Structure
Mr. Electric LLC was converted to a Texas limited liability company on December 31, 2011. Prior to that date, they were a Texas corporation. They were incorporated in the State of Texas on September 16, 1994. They maintain their principal place of business at 1010-1020 North University Parks Drive, Waco, Texas 76707. They do business under their corporate name and under the name MR. ELECTRIC® and NEIGHBORLY ELECTRIC®. They have offered MR. ELECTRIC® franchises since 1994.
Investment and Franchisee Fees
The total investment necessary to begin operation of a Mr. Electric® franchise ranges from $98,600 to $234,750. This includes $36,250 that must be paid to the franchisor and our affiliate. It does not include fees for additional territory (beyond the minimum 100,000), for which we charge $350 per 1,000 population.
Royalties and Marketing Fees
Royalties : 4.0% - 7.0% of revenue
Earnings Transparency
This Franchise discloses slightly less information about the financial performance of their franchisees compared to other franchises in the same industry
Why do some franchises disclose more than others?
There are many reasons why a brand may choose to not include item 19 on their FDD: they could be a newer franchise, they may be in a unique industry that is not super profitable or well-known yet
Employee Contact Database
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Distribution of Mr. Electric Franchisees
Mr. Electric Franchise System Development in 2021
FAQ
How much investment do I need to start my own Mr. Electric business?
Franchisees typically require at least $107 to $244 investment to get their Mr. Electric business started
What are the initial franchise fees for Mr. Electric?
Franchisees typically need to pay at least $43 in fees directly to Mr. Electric in order to earn the right to launch their business
How much money can I make with a Mr. Electric franchise? What are
the average revenues for a typical Mr. Electric business?
We haven’t done the math on how much revenue a typical
Mr. Electric brings in each year. We estimate that other
franchisees in the Professional Services industry generate
$952,375 revenue, so we would expect
Mr. Electric to generate a similar amount
How long do I need to commit to running a Mr. Electric unit? What
is my contractual commitment?
The standard length for an initial franchise contract is 10 years. Renewals are
also generally 10 years
Accessibility
The Franchisor's investment costs ranges from
$210,500 to $457,055
which is
Much Higher
than the $0 to $0 average in the Maintenance Services industry
What determines the investment cost?
Item 7 of the Franchise Disclosure Document lays out the full list of initial investment costs, including the fee payable to the franchisor, security deposits, equipment, professional fees etc
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