Mr. Electric Franchise Costs And Fees

About Mr. Electric

Established in 1994, Mr. Electric® is a global franchise organization providing electrical installation and repair services. Recognized by Entrepreneur magazine among its “Franchise 500,” Mr. Electric franchisees provide these services to both residential and commercial customers at almost 200 locations worldwide. As a trusted brand, we help our franchisees stand out in a growing, needs-based industry that is changing with the rise of smart tech. If you are looking to start your own business or convert a current one, choose from Mr. Electric’s electrical franchise opportunities and all the benefits that go with our reputable, established systems.

Mr. Electric is a subsidiary of the Neighborly® family of service franchises. The primary focus of the Mr. Electric team is on helping our franchisees meet and exceed their financial, professional and personal goals. As part of Neighborly our expertise lies in providing the right tools, support and environment to turn those goals and dreams into a reality. We see it happen every day.

Code of Values

Mr. Electric is now one of 15 service brands owned by Neighborly. Each brand shares a Code of Values and culture to live by, which not only outline how we work in a professional environment, but also how we live our daily lives.

Why Mr. Electric®?

– Mr. Electric FranchiseComprehensive ongoing training and support: Our Sure Start training program helps equip our franchisees with the knowledge and support needed to run their operations most efficiently with proven technology and software, systems training and a dedicated Franchise Consultant.
– National brand recognition coupled with an exclusive territory.
– Call center support for customer management and setting appointments.
– Marketing: Superior marketing strategies and support that leverages the nationally recognized and respected brand name along with an extensive customer database collected from the local family of Neighborly® home service brands, to provide you with the most effective marketing strategies and tools possible.
– Web: Leading web presence, national and customizable local website, bold online social media presence, national search engine optimization (SEO) strategy, and online reputation management support.
– IT: Software training and IT support
– Nationwide networking support:Over 160 fellow franchisees to consult with, plus the opportunity to gather at Regional and National Conferences.
– Vendor Discounts: Cut your expenses with ProTradeNet, a program offering preferred discounts through membership and potential annual rebates.

Company Founded

1994

Current Leadership

Joel Worthington, Brand President

Started Franchising

1994 (27 years)

Total Number of Units

171 (as of 2020)

Part-Time / Full-Time

Full Time

How Much Does It Cost To Open A Mr. Electric Franchise?

There are several costs associated with opening a Mr. Electric franchise. There is typically a franchise fee set by the franchisor, which covers the costs of opening a franchise location. Some other commons fees include equipment fees, marketing fees, licensing fees, insurance, and taxes, to name a few.

Some franchises may have a weekly fee that the franchisee pays for operating a Mr. Electric franchise. The weekly fee for opening a Mr. Electric franchise is License Fee Is Due Every Wednesday.

The full breakdown of these fees can be found in the Financial Disclosure Document (FDD) provided to franchisees by the franchisor. The FDD report will contain additional information such as whether the franchise is renewable (Mr. Electric Is Renewable) and does the franchise offer financing support (Mr. Electric Mr. Electric has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll).

Mr. Electric Company Details

Here are some additional details about Mr. Electric.

Parent Company	Neighborly
Initial Investment	$40,000
Veteran Incentives	15% off minimum franchise fee
Royalty Fee	4-7%
Ad Royalty	2%
Term of Agreement	10 years
Absentee Ownership	No
Run from Home	Yes
Part Time	No

Training and Support Offered By Mr. Electric

Mr. Electric offers several support options to its franchisees. With 171 (as of 2020) units, Mr. Electric aims to provide support to each franchise owner to help them operate a successful franchise location. Mr. Electric offers 8-40 hours on the job training, 58.75 hours classroom training, and Regional meetings twice a year; webinars additional training.

Training and Support Offered

Here are the support options offered by Mr. Electric.

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

Is Mr. Electric Right For You?

Mr. Electric has gone digital! Here are all of the ways you can find Mr. Electric online. Oftentimes, you can reach out to current franchisees of Mr. Electric online. Current franchisees may be able to offer personalized insights into what it is like owning a Mr. Electric franchise and offer tips to running a successful Mr. Electric franchise location.

Social

Why Should You Start a Mr. Electric Franchise?

Investing in a Home Services franchise such as Mr. Electric can kickstart your franchise portfolio. Our goal at Why Franchise is to provide you with the resources needed to be a successful franchise owner. Fill out the form below to get more information about Mr. Electric franchise and we'll be in touch soon!

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