Ignite a spark with a Mr Electric franchise

03/07/2018 17:00 | Start a business

Mr. Electric franchise info

Are you a self-employed electrician who is looking for the support of a recognisable brand? Or do you have no previous electrical experience but fancy a career change? Are you working for somebody else and would love the opportunity to be your own boss?

If the answer is yes to any of these questions, then starting a franchise with Mr. Electric could be the perfect investment for you.

Since 1994, the Mr. Electric franchise has been a globally recognised brand name known for providing a high-quality service. There are currently 200 Mr. Electric franchisees, and as a subsidiary of Dwyer Group, there are over 2,800 franchises in 10 countries all over the world.

If you want to become part of a company thats proud to provide an invaluable service to more than 2.5 million customers every year, why not consider this electrical franchise? Not only will you receive all the support, tools, training, and coaching you need, but you'll also be investing in an industry that's worth over £20bn.

Has this sparked your interest? Here is some more information about the Mr. Electric franchise.

Whats required?

Although you dont need any previous electrical knowledge and experience to run a Mr. Electric franchise, there are licensing requirements which must be met. If youre planning on running the business alone, then youll need to be 17th edition qualified with the National Inspection Council for Electrical Installation Contracting (NICEIC). However, if you decide to take less of a hands-on approach in the business, then you don't need this qualification, but your employees will do.

Starting a franchise can be tough at times, and so you'll need to be committed, determined and passionate about making your business a success. You'll also need to have a strong sense of integrity, always willing to giving your customers the best service while putting their needs first.

Training and support

Mr. Electric understand the importance of keeping up to date with new developments in the electrical industry. By becoming a franchisee, you'll benefit from a company that always stays one step ahead of the game while steadily growing, improving, and seeking new ways to serve customers better.

Youll also receive access to a comprehensive training package, which includes:

  • Help with the launch of your new business
  • Marketing plans developed on your behalf
  • Technical training in electricity services
  • Ongoing coaching from industry experts
  • Training in marketing and brand awareness
  • Technology training

Youll also get to network with other franchisees, attend national conventions, and receive discounts on products and services.

The training and support that youll receive are essential so that Mr. Electric can maintain the integrity, professional excellence, and customer service that theyve become renowned for.

Case study

Richard Smith didnt have any electrical know-how before starting a franchise with Mr. Electric, but he did have plenty of experience in managing successful businesses. As well as working for two decades in the generator industry, Richard had operated two other franchises and had started an independent engineering business. But his heart wasn't in it, so he sold up and began looking for the next challenge.

Many things attracted Richard to this particular electrical franchise. First and foremost, he liked the fact that Mr. Electric was part of the larger Dwyer Group. This gave Richard the confidence that he was joining a company that is well-established within the franchising industry.

Secondly, Richard realised that an electrical franchise is a pretty stable investment. After all, people will always need electricians. Also, because of the reputation of the brand, Richard was convinced that customers would choose a name they could trust over a lesser known independent business.

When Richard was on board, any concerns about not having any previous experience in the electrical industry were dispelled. The training and support that he has received from Mr. Electric since becoming a franchisee has been second to none, and hes been taught all the basics he needed to know to run his franchise successfully. Because Richard wants to play a hands-on role within the business, as well as developing and growing it, he attended an electrical engineering course too.

Richard is so happy that he found the Mr. Electric opportunity when he did. Now at the age of 60, Richard wants to grow his business as much as he can over the next five years so that he can retire at the age of 65. In the meantime, Richard has been able to achieve a healthy work/life balance while running his franchise. He likes to keep fit and take part in amateur dramatics. Thankfully, Richard has been able to enjoy both of these hobbies while expanding his profitable franchise.

Financial information

As a Mr. Electric franchisee, youll get the chance to grow a robust business with a potential turnover of more than £1million. To take advantage of this opportunity, you'll need to secure the necessary funds. Here are the financial details:

Franchise fee: £23,000 to £27,000
Total investment: £64,000 to £142,000
Net worth requirement: At least £96,000
Liquid assets worth: £35,000
Royalty fee: 5% to 7%
Advertising fee: 2%

If needed Mr. Electric has an in-house financing programme designed for new franchisees. This will enable you to secure this franchise opportunity for a minimum personal investment of just £15,000.

What should you do next?

If you think owning your own business is for you, then you're only a step away from starting your franchising journey. As a franchisee, youll achieve freedom and flexibility as long as youre prepared to put in the hard work.

Dwyer Group is excited to welcome self-motivated and committed entrepreneurs to join their business. If this sounds like you, then complete the online form and contact the Mr. Electric support office to determine whether it's the right franchise for you.

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