Mr. Electric
Who are we
What to know about Mr. Electric franchise? Mr. Electric is a nationwide electrical services company with multiple locations across the United States. The company is known for providing electrical services to both residential and commercial customers. Services offered by them include but are not limited to: electrical repairs, installations, upgrades, maintenance, and more. In addition to their electrical services, they also extend a variety of other home service options, such as plumbing, heating and cooling, and more. Mr. Electric is a company that is available 24/7 in order to provide their customers with the best possible service. Mr. Electric provides their franchisees with the necessary tools and resources to succeed. These include a comprehensive marketing program, training and support, business planning assistance, and more. Mr. Electric is based in Waco, TX. Scroll down to learn more!How much does a Mr. Electric franchise cost?Are you wondering how much is a Mr. Electric franchise? Before starting a Mr. Electric franchise, it is important to know the franchise fee, working capital and other costs required to start the business.The minimum investment amount required to open a Mr. Electric franchise is $107,900 and can go all the way up to $244,500. Keep in mind, you should also allocate additional funds to live off of while the Mr. Electric business ramps up. This can take as little as 6 months to over 2 years depending on the franchise opportunity. You should speak to at least 5 Mr. Electric franchisees to understand the true cost of opening the franchise and how long it takes to: 1) start a Mr. Electric business 2) pass break even 3) hit significant income.After (and if) you pass the point of earning significant income from your Mr. Electric franchise, there may be enough margin to hire a day-to-day manager and work less hours in the business.
Why choose Mr. Electric?
Mr. Electric is a nationwide electrical services company with multiple locations across the United States.
This page is for informational purposes only and does not constitute an offer or solicitation to buy a franchise.
Franchisees
Updated on Jul 2, 2024Reviews
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Neighborly and Mr. Electric have a very positive past, leading many people to believe it’s a good opportunity. The new private equity owned Neighborly should be avoided at all costs.
There’s very little to like about the corporate Mr. Electric leadership team, and the private equity owned Neighborly corporation that runs it all. Six years ago, this franchisor provided support and a wonderful experience for business owners. However, as private equity has taken everything over, the franchisees have become less important and have become a necessary nuisance to drive top line growth.
The corporate leadership team cares more about driving profits so that they can get their bonuses versus helping the franchisees succeed. When you become a business owner, everything they teach you and push you to do helps drive top line revenue, but they could care less about your profits and the health of your business. Many business owners believe that corporate actually cares about them and is giving them good advice, but the advice they give is often very detrimental to the success of the individual business. If you’re interested in owning and operating a business, I strongly suggest you avoid Neighborly and all of its brands, like Mr. Electric. Find a business or a franchisor that cares about the health of your business. Not just the top line and their profits that ultimately feed a private equity machine. Avoid Neighborly at all costs. They are focused on the health of the private equity ownership, they don’t care about the individual franchisees. Even at the individual business level, they are pushing them to all be bought up by other private equity groups, creating large players that control everything. An individual business owner will suffer and ultimately die, and corporate will not care. It actually will help them because then they will push you to sell your business for pennies on the dollar to one of the larger private equity groups that is buying up individual shops.
NoNegativeDisapprovesVery supportive corporate team who make themselves available to franchisees. Great code of values. Amazing franchise network.
Very supportive corporate team who make themselves available to franchisees. Great code of values. Amazing franchise network.
Not much to dislike
YesPositiveApprovesMeh
I like the business management systems they offer
Their communication is garbage, they don't pay their staff enough to stay around long enough to be effective
NoPositiveDisapproves
Costs & Fees
- $42,500
- $152,000 - $314,500
Franchise Disclosure Documents
Showing 6 of 6 FDDsFrequently Asked Questions
How much does it cost to open a Mr. Electric franchise?
The total startup investment ranges from $152,000 to $314,500, covering setup, equipment, and franchise fee.
What is the franchise fee for Mr. Electric?
The franchise fee is typically $42,500.
What is the average franchisee rating for Mr. Electric?
The average franchisee rating for Mr. Electric is 3.3 stars.