Mr. Electric

Mr. Electric

Electrical services
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2021 Franchise 500 Rank
#260 Ranked #310 last year
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Initial investment
$104K - $240K
Units as of 2020
171 13.2% over 3 years

Company Overview

Established in 1994, Mr. Electric is a franchise providing electrical installation and repair servicesto both residential and commercial customers at 160 locations worldwide. Mr. Electric is a subsidiary of The Dwyer Group.

About Mr. Electric

Industry
Maintenance
Founded
1994
Parent Company
Neighborly
Leadership
Joel Worthington, Brand President

Franchising Overview

Franchising Since
1994 (27 years)
# of employees at HQ
900
Where seeking

This company is seeking new franchisees throughout the US.

This company is seeking new franchisees worldwide.

# of Units
171 (as of 2020)

Franchisor Information

Corporate Address
1010 N. University Parks Dr.
Waco, TX 76707

Information for Franchisees

Here’s what you need to know if you’re interested in opening a Mr. Electric 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
$40,000
Initial Investment
$103,600 - $239,750
Veteran Incentives
15% off minimum franchise fee
Royalty Fee
4-7%
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.

Third Party Financing
Mr. Electric has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, 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
8-40 hours
Classroom Training
58.75 hours
Additional Training
Regional meetings twice a year; webinars
Ongoing Support
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Field Operations
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Co-op Advertising
Ad Templates
National Media
Regional Advertising
Marketing Planning & Support
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed?
No
Can this franchise be run from home/mobile unit?
Yes
Can this franchise be run part time?
No
# of employees required to run
2-3
Are exclusive territories available?
Yes

Franchise 500 Ranking History

Compare where Mr. Electric landed on this year’s Franchise 500 Ranking versus previous years.

Additional Rankings

Curious to know where Mr. Electric ranked on other franchise lists? Find out below.

Ranked #260

Franchise 500 Ranking

Ranked #184

Top Global Franchises

Ranked #75

Top Franchises for Veterans

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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise by Entrepreneur Media. Our franchise listings and rankings are solely research tools you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise. That should include reviewing the franchisor's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees.
Updated: February 8th, 2021