Signing out of account, Standby...
- 2022 Franchise 500 Rank
N/R Not ranked last year
- Initial investment
$86K - $122K
- Units as of 2020
15 114.3% over 3 years
Here’s what you need to know if you’re interested in opening a The Honey Do Service Inc. franchise.
The Honey Do Service, named after the infamous "Honey Do" chores list left to spouses, was founded by Brad Fluke in Bristol, Virginia, in 2002. The Honey Do Service is a full-service handyperson business that may offer repair and home improvements at a reasonable price and outstanding quality.
One of The Honey Do Service's main goals is to maintain customer satisfaction by providing quality work and hiring well-trained professional craftsmen. Employees also undergo criminal and drug checks before they begin working at the company to guarantee the customers' safety. They are committed to accountability, transparency, and warrantied work, which is typically seen in a one-year warranty for all jobs).
Why You May Want To Start a The Honey Do Service Franchise
The Honey Do Service prefers franchisees who have some remodeling knowledge and are detail-oriented to guide and maintain the high-quality work with which the franchise wishes to be known. They should also have customer service experience and the desire to manage a team of professional craftspeople.
A franchisee should dedicate themselves to the business full-time, but also understand that they do not have to be the principal worker. Other qualities The Honey Do Service looks for in a franchisee are self-motivation, and the ability to be forward-thinking, goal-oriented, and community-minded.
What Might Make a The Honey Do Service Franchise a Good Choice?
Opening a The Honey Do Service franchise could offer a more predictable outcome than investing in a completely new brand that may struggle to thrive in an already crowded and competitive industry. You may also find that opting to start a The Honey Do Service franchise rather than going at it alone will be a more supportive, less-stressful experience.
To be part of The Honey Do Service team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.
How To Open a The Honey Do Service Franchise
As you decide if opening a The Honey Do Service franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a The Honey Do Service franchise would do well in your community. For instance, heavily-populated suburban areas may need more work than a rural area or an urban setting with newer buildings. It all depends on your area's "inventory." If you have an existing business, you may want to see if it would be a good fit with a The Honey Do Service franchise.
While you consider your market logistics, you should also compile a list of questions for the franchise team and existing franchisees. If both you and the company sign a franchise agreement, The Honey Do Service typically offers several dozen hours of on-the-job training and many hours of classroom training. This training usually includes General Contractors & EPA Licensing.
The Honey Do Service may also provide extended ongoing support, including exclusive site selection, online support, security and safety procedures, and field operations. Their marketing support could also be broad, supplying national media, social media, regional advertising, website development, and more.
About The Honey Do Service Inc.
- Franchising Since
- 2008 (14 years)
- # of employees at HQ
- Where seeking
This company is seeking new franchisees throughout the US.
- # of Units
- 15 (as of 2020)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a The Honey Do Service Inc. 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
Definition: The initial fee paid to a franchisor to join their system
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
- Initial Investment
- $85,630 - $122,200
Definition: The total amount necessary to begin operation of the franchise
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
- Net Worth Requirement
Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company
What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.
- Cash Requirement
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
- Veteran Incentives
- $5,000 off franchise fee
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
- Royalty Fee
Definition: A ongoing fee paid to the franchisor on a regular basis.
What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
- Ad Royalty Fee
Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts.
What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.
- Term of Agreement
- 10 years
Definition: The length of time your franchise agreement will last.
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
- Is franchise term renewable?
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- In-House Financing
- The Honey Do Service Inc. offers in-house financing to cover the following: franchise fee
- Third Party Financing
- The Honey Do Service Inc. has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, payroll
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
- 32 hours
- Classroom Training
- 80 hours
- Additional Training
- Online classes
- Ongoing Support
Purchasing Co-opsMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail Marketing
Additional details about running this franchise.
- Is absentee ownership allowed?
Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations.
- Can this franchise be run from home/mobile unit?
Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.
- Can this franchise be run part time?
Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.
- # of employees required to run
- Are exclusive territories available?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.
Franchise 500 Ranking History
Compare where The Honey Do Service Inc. landed on this year’s Franchise 500 Ranking versus previous years.
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