KEY FRANCHISE STATS
All you need to know about this franchise in a snapshot
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Founded in 1994, Mr. Electric has grown into an internationally recognized franchise brand offering expert electrical services to both residential and commercial clients. As part of the Neighborly® group of home service brands, Mr. Electric has built a network of close to 200 locations across the globe and has consistently earned spots on Entrepreneur magazine’s prestigious “Franchise 500” list.
Mr. Electric delivers a wide array of services, from electrical repairs and installations to lighting upgrades and energy-saving solutions. Known for its professionalism, dependability, and focus on safety, the brand ensures that every franchise adheres to local trade regulations and licensing standards, guaranteeing top-quality results.
With a strong commitment to customer care, Mr. Electric offers the Advantage Plan™, a program designed to reward loyal clients with benefits such as discounted rates, priority booking, and exclusive deals. This dedication to going above and beyond has helped establish Mr. Electric as a leading name in the electrical services industry.
Here's what you would need to invest if you were to start this franchise. These costs are provided by the franchisor in the Franchise Disclosure Document.
Mr. Electric
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$42,500
$152,000
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$315,000
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$895,000
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Home Services
The Mr. Electric franchise provides a comprehensive training and support system for its franchisees. This structured approach ensures that new owners are well-prepared to manage and grow their businesses effectively:
The Mr. Electric franchise provides its franchisees with designated territories, typically defined by a population range of 100,000 to 300,000 residents. While these territories are clearly outlined in the Franchise Agreement, they do not offer exclusive rights.
This means that the franchisor retains the right to operate or license other Mr. Electric businesses outside of the designated territory, potentially leading to competition from other franchisees or company-owned outlets.
Franchisees are permitted to accept orders and provide services outside their assigned territories, including through online channels and telemarketing, as long as they adhere to the franchisor's policies. However, the franchisor also reserves the right to develop and operate other businesses, including those under different trademarks, even within the franchisee's designated territory.
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A comprehensive and transparent look at franchising finances. The inclusion of profit margins and disclosure documents offers insights you can’t find elsewhere. Essential for anyone considering a franchise investment.
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