Mr. Electric Franchise — Costs & How to Buy
- Initial investment
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- Franchise fee
- —
- Royalty
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- Units open
- —
- Liquid capital
- $75+
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Overview
Mr. Electric is a franchise company specializing in residential and commercial electrical services. They focus on providing safe, meticulously detailed, and customer-centric electrical solutions. Their value proposition includes upfront pricing and a 'Neighborly Done Right Promise' to guarantee service quality, ensuring homes and businesses are safe and electrically efficient.
Key differentiators
["Commitment to safety and meticulous attention to detail on every job.","Upfront pricing provided before starting any project.","Backed by the 'Neighborly Done Right Promise®' for quality assurance.","Offers special discounts for various community members (first responders, teachers, seniors, veterans, military).","Provides a customer loyalty program, 'Advantage Plan Membership', including annual safety checks and service discounts."]
Training & support
Sure Start 4-6 week program with classroom-style business operations, sales, and marketing training; ongoing franchise business coach support
Ideal candidate
Mr. Electric targets both residential homeowners and commercial businesses. For residential customers, the target market includes individuals seeking electrical repairs, installations, and safety checks for their homes, particularly those who value professional, safe, and transparent service. For commercial clients, they cater to businesses requiring reliable and efficient electrical solutions for their operations. Their special offers suggest an interest in engaging new customers and providing value to specific community demographics.
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Mr. Electric franchise — frequently asked questions
How much does it cost to open a Mr. Electric franchise?+
Total initial investment for a Mr. Electric franchise typically ranges from $0 to $0, including the franchise fee, build-out, equipment, initial inventory, and working capital for the first three months of operations.
What ongoing fees does Mr. Electric charge?+
Franchisees pay an ongoing royalty calculated as a percentage of gross revenue, plus a brand development fund contribution. Specific percentages and minimums are disclosed in Item 6 of the Franchise Disclosure Document.
Do I need industry experience to own a Mr. Electric franchise?+
No prior industry experience is required. Mr. Electric provides initial training, an operations manual, and ongoing field support. Successful candidates typically bring management experience, leadership skills, and a willingness to follow the system.
How long does it take to open a Mr. Electric location?+
From signed franchise agreement to grand opening, most Mr. Electric franchisees open within 6 to 12 months. Timeline depends on real estate selection, permitting, build-out, and training completion.
Is financing available for Mr. Electric franchisees?+
Mr. Electric is registered with the SBA Franchise Directory, which streamlines SBA 7(a) loan approval. Most franchisees finance 60–80% of the initial investment through a combination of SBA loans, equipment financing, and personal capital.