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Description

How To Open a Mr. Handyman Franchise?

To begin your journey as a Mr. Handyman franchise owner, you first need to complete an application form expressing your interest. Following this, you will be invited to review the Mr. Handyman franchise disclosure document (FDD), which provides crucial insights into the business model and operational expectations. If your application is successful, you can expect a series of interviews and training sessions. This includes a discovery day where you will meet existing franchisees and gain firsthand knowledge of the daily operations. Once you’ve completed the necessary steps, you will be awarded a franchise location and can start providing quality home repair services to your community.

What Might Make a Mr. Handyman Franchise a Good Choice?

Before committing to a Mr. Handyman franchise, it's essential to conduct thorough research and assess your financial readiness. This includes consulting with a financial advisor and reviewing the initial investment, which typically ranges from $90,000 to $150,000, including the franchise fee and other startup costs. Franchisees should be prepared for ongoing expenses, such as royalty fees, which are generally around 6%, and marketing contributions. Understanding local market demand for home repair services can also play a significant role in your success. Mr. Handyman provides various support systems, from marketing to operations, enhancing your chances of thriving in the competitive home services industry.

Why You May Want to Start a Mr. Handyman Franchise?

Mr. Handyman is part of the Neighborly family of service brands, known for its commitment to professionalism and customer satisfaction in home repair services. If you possess a strong work ethic and a passion for helping others, this franchise could be a fulfilling venture. The brand is recognized for its comprehensive training programs, equipping franchisees with the skills needed to manage a successful business, even if they lack prior experience in the home services sector. With a reputable brand behind you and access to ongoing support, you can build a thriving franchise that caters to the growing demand for reliable home repair services.

Is Owning a Mr. Handyman Franchise the Right Move for You?

Mr. Handyman has established itself as a leader in the home repair industry since its inception in 1996. With over 200 locations across North America, the brand is well-positioned for growth. However, the home services market can be competitive, so it’s crucial to evaluate your skills and passion for service-oriented work. As a franchisee, you’ll not only be managing a business but also providing essential services to homeowners and contributing to your community. Are you ready to take the next step in your entrepreneurial journey with Mr. Handyman?

Mr. Handyman Franchise Financial Requirements

Below, you’ll find an overview of the initial investment needed to launch the business, along with the ongoing fees required by the franchisor to maintain operations over time.

A broad sector defining similar types of franchise businesses.

Industry

Home Based Franchises
A more specific division within the broader industry.

Category

Home Repair Services
Available financing options to help start the franchise.

Funding Year

2000
The main organization that owns the franchise brand.

Parent Company

Neighborly
The key individuals guiding the franchise’s strategy and growth.

Leadership

Mike Bidwell
The official business address of the franchisor’s headquarters.

Corporate Address

1010-1020 North University Parks Drive, Waco, Texas 76707
The total amount required to launch the franchise.

Initial Investment

$123,000 - $159,600
The initial fee paid to join the franchise system.

Franchise Fee

$65,000
Ongoing percentage of revenue paid to the franchisor.

Royalty Fee

7%
Regular contribution toward the franchise’s advertising fund.

Marketing Fee

2%
The minimum liquid capital you must have on hand.

Cash Required

$123,000 - $159,600
The minimum total assets (minus liabilities) you must possess.

Net Worth Required

$500,000 - $1,000,000
The typical yearly revenue generated per franchise location.

Average Revenue

$890,582
The middle value of yearly revenue among franchise locations.

Median Revenue

$801,113
The smallest reported annual revenue among franchisees.

Lowest Revenue

$276,179
The largest reported annual revenue among franchisees.

Highest Revenue

$3,478,516
The estimated timeframe to recover your initial costs.

Breakeven Time

12 Months
The estimated period to recoup your total investment.

Investment Payback

10 Months

Mr. Handyman Franchise Unit Growth Summary

A breakdown of corporate, franchised, and total units, with yearly net changes shown in the chart and table.

The overall number of operating franchise locations.

Total Units

310
The number of locations owned by independent franchisees.

Franchised Units

310
The number of locations owned and run by the franchisor.

Corporate Units

0
Units 2021 2022 2023
Total Units 257 297 310
Net Change YoY 40 13
Franchised Units 257 297 310
Net Change YoY 40 13
Corporate Units 0 0 0
Net Change YoY 0 0

Company Background

Mr. Handyman is a prominent home improvement franchise that specializes in providing a wide range of handyman services to homeowners and businesses. With a legacy that spans over 20 years, Mr. Handyman has established itself as a trusted name in the industry, operating in over 200 locations across North America. The franchise's services include everything from minor repairs and maintenance to larger remodeling projects, ensuring that customers receive quality workmanship and reliable service every time.

Franchise Opportunity

Owning a Mr. Handyman franchise presents a unique opportunity for entrepreneurs looking to enter the booming home services market. With a well-recognized brand and a comprehensive support system, franchisees benefit from established operational procedures and a proven business model. This franchise offers flexibility and the potential for significant financial returns, making it an attractive option for those passionate about home improvement and customer service.

Corporate Structure

Mr. Handyman is a subsidiary of the Dwyer Group, Inc., which is part of the parent company, Neighborly, Inc. The Dwyer Group was founded in 1981 and has grown to encompass a variety of service-based brands. Mr. Handyman operates under its corporate name and is headquartered in Waco, Texas. The franchise structure offers support in marketing, training, and operational guidance, allowing franchisees to thrive in their local markets.

Royalties

Franchisees of Mr. Handyman are required to pay a royalty fee of 5% of their gross sales. Additionally, there is a marketing contribution of 2% of gross sales that supports national advertising efforts to promote the brand. This fee structure allows franchisees to benefit from the collective marketing power of the franchise while ensuring continued support from the corporate team.

Company Mission

At Mr. Handyman, our mission is to provide reliable, high-quality handyman services that enhance the lives of our customers. We strive to exceed customer expectations through professionalism, integrity, and exceptional service. Our commitment to ongoing training, community involvement, and a focus on customer satisfaction helps us build lasting relationships and maintain our reputation as a leader in the home improvement industry.

Brand Story

Founded in 1996, Mr. Handyman began with the vision of providing homeowners with a dependable solution for their home repair and maintenance needs. Over the years, the brand has grown significantly, expanding its services and reach while maintaining a strong focus on customer satisfaction. Mr. Handyman has become synonymous with quality home repairs, leveraging a network of skilled technicians who are dedicated to delivering prompt and professional service. Today, Mr. Handyman is a household name recognized for its commitment to excellence and reliability in home improvement services.

Frequently Asked Questions

The total estimated initial investment to start a Mr. Handyman franchise ranges from $123,000 to $159,600. This includes the initial franchise fee and other startup costs like equipment and vehicle expenses.