1-800 Water Damage
Property restoration
- 2022 Franchise 500 Rank
-
#104 Ranked #196 last year
- Initial investment
-
$58K - $192K
- Units as of 2021
-
151 135.9% over 3 years
Here’s what you need to know if you’re interested in opening a 1-800 Water Damage franchise.
1-800 Water Damage is a unique restoration company that performs a variety of services. These include emergency mitigation, water damage restoration, carpet cleaning, fire and smoke damage restoration, sewage cleanup, and mold remediation. The company's mission is to help people return their property to its original state. It also provides solutions to bring safety and security back to your home.
Though he was a high school dropout, Tim Fagan, the current president of the company, purchased 1-800 Water Damage from his father years later. From those humble family beginnings, 1-800 Water Damage has expanded to include many locations all over the country. It is one of the fastest-growing restoration companies in the United States. Franchisees put smiles back on the faces of home and property owners affected by disasters.
Why You Should Start an 1-800 Water Damage Franchise
1-800 Water Damage is part of the Belfor Franchise Group, the largest property restoration company in the world. This relationship has improved 1-800 Water Damage's access to resources, so it can now provide better and faster service to clients.
With Belfor Group's extensive experience in the industry, you don't have to worry about creating an effective franchise system. The company provides extensive coaching to develop business acumen with an emphasis on professional knowledge through their well-rounded approach to training. With corporate support, you will have resources to encourage you not just as you get started, but every step of the way.
What Might Make 1-800 Water Damage Franchise a Good Choice?
As a 1-800 Water Damage franchise, you'll have exclusive rights to a large territory, and you'll also have access to much larger projects through the company's National Disaster Response Team. Additionally, the company's knowledgeable team is passionate about its services, and this shows in the quality of its work.
In order to be part of the 1-800 Water Damage team, you should make sure you’re financially ready for an initial investment and potential set-up fees. While the total investment usually varies between locations, 1-800 Water Damage guarantees a fixed minimum income during your first year, complete with medical benefits and a retirement savings program organized by the company. On top of franchise benefits, the restoration industry is typically a durable one. Even during times of economic stress, it continues to develop.
How to Open Your Own 1-800 Water Damage Franchise
To become a 1-800 Water Damage franchise, you’ll need to review a Franchise Disclosure Document, so you can prepare by chatting with an attorney who can help you understand what you’re reading. As part of the onboarding process, the company will usually set up a day for you to meet with the 1-800 Water Damage team. This is a great opportunity for you to see if the company culture is a good fit for you. You can also use this time to ask any questions you have about your potential franchise location.
Are you ready to dive into your own 1-800 Water Damage franchise?
Company Overview
About 1-800 Water Damage
- Industry
- Maintenance
- Founded
- 1988
- Parent Company
- Belfor Franchise Group
- Leadership
- Tim Fagan, President
Franchising Overview
- Franchising Since
- 2002 (20 years)
- # of employees at HQ
- 50
- Where seeking
-
This company is seeking new franchisees throughout the US.
- # of Units
- 151 (as of 2021)
Franchisor Information
Information for Franchisees
Here’s what you need to know if you’re interested in opening a 1-800 Water Damage franchise.
Financial Requirements & Ongoing 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 Franchise Fee
- $24,000 - $59,000
- Initial Investment
- $57,613 - $191,987
- Net Worth Requirement
- $150,000 - $200,000
- Cash Requirement
- $100,000 - $150,000
- Veteran Incentives
- 20% off franchise fee
- Royalty Fee
- 8-10%
- Ad Royalty Fee
- 2%
- Term of Agreement
- 10 years
- Is franchise term renewable?
- Yes
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- In-House Financing
- 1-800 Water Damage offers in-house financing to cover the following: franchise fee, startup costs, equipment
- Third Party Financing
- 1-800 Water Damage has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- 10 hours
- Classroom Training
- 80 hours
- Additional Training
- Training videos, webinars, seminars
- Ongoing Support
-
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresField OperationsProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
-
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingMarketing Planning & SupportSocial MediaSEOWebsite DevelopmentEmail Marketing
Operations
Additional details about running this franchise.
- Is absentee ownership allowed?
- Yes
- Can this franchise be run from home/mobile unit?
- No
- Can this franchise be run part time?
- No
- # of employees required to run
- 1
- Are exclusive territories available?
- Yes
Franchise 500 Ranking History
Compare where 1-800 Water Damage landed on this year’s Franchise 500 Ranking versus previous years.
Additional Rankings
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