Full Answer
How much does it cost to start a PuroClean franchise?
The breakdown of the initial investment to open a PuroClean restoration franchise is as follows: Total cost all in: $200,000 – $220,000* Franchise fee: $55,000. Equipment package: $60,000*
How many PuroClean franchises are there?
PuroClean has a comprehensive network of over 300 franchise offices across North America, which has grown in excess of 20% in the last two years alone. Each local PuroClean office is independently owned and operated.
Is PuroClean a franchise?
PuroClean is one of the fastest-growing restoration franchises available, and our opportunity has been recognized year after year as one of the very best in the franchise sphere!
Who founded PuroClean?
PuroClean's Ownership CEO and Chairman Mark W. Davis and Vice Chairman Frank Torre are the entrepreneurial forces who purchased PuroClean in 2015 and together, are shaking up the restoration industry.
Does ServiceMaster restore franchise?
To buy a franchise with ServiceMaster Restore, you'll need to have at least $102,700 in liquid capital. Franchisees can expect to make a total investment of $205,735 - $300,310. They also offer financing as well as a discount for veterans (20% discount).
Who is the CEO of PuroClean?
Danny Ognean - CEO - Puroclean | LinkedIn.
How much do you make owning a Servpro?
How much does a Store Owner make at Servpro in the United States? Average Servpro Store Owner yearly pay in the United States is approximately $107,131, which is 41% above the national average.
Is Servpro the same as Servicemaster?
ServiceMaster's brand is ranked #- in the list of Global Top 1000 Brands, as rated by customers of ServiceMaster. Their current market cap is $5.40B. Servpro Industries's brand is ranked #- in the list of Global Top 1000 Brands, as rated by customers of Servpro Industries....ServiceMaster vs Servpro Industries.17%Promoters14%Passive69%Detractors
When did PuroClean start franchise?
2001A Low-Risk, High-Reward Franchise Brand. Founded in 2001, PuroClean has a comprehensive network of 280-plus franchise offices across North America.
Who is the largest restoration company?
Belfor Restoration Belfor is the largest restoration company in the world with more than 7000+ employees. There are more than 100 Belfor locations in the country, and they also operate an extensive fleet of cleanup and repair vehicles.
Who owns Servpro restoration?
BlackstoneBlackstone acquires a majority stake in SERVPRO as part of Blackstone's Core Private Equity strategy, which is designed to hold investments for much longer periods of time than traditional private equity.
Who is the largest restoration company?
Belfor Restoration Belfor is the largest restoration company in the world with more than 7000+ employees. There are more than 100 Belfor locations in the country, and they also operate an extensive fleet of cleanup and repair vehicles.
How many franchise does Aquabest have?
This was the challenge that Carson Tan faced when he built up the Aquabest brand from a single bankrupt water station to one of the largest water refilling station chains in the country with over 700 stores nationwide.
What type of franchise is Aquabest?
Aquabest - The Premier Water Refilling Franchise in the Philippines.
When was PuroClean founded?
2001Founded in 2001, PuroClean has a comprehensive network of 280-plus franchise offices across North America. Each year, PuroClean franchise owners perform thousands of jobs throughout the United States and Canada.
Who is PuroClean?
Founded in 2001, PuroClean is a leading damage remediation company that works on a franchise-based model. PuroClean franchise owners offer emergency restoration services for property damage caused by water, fire, mold, biohazards, and other disasters. They offer these services to homeowners, business owners, the insurance industry, and home service providers. Many of the offices also offer reconstruction and other related services.
What is Puroclean restoration?
PuroClean is a fast-growing restoration franchise network that provides a wealth of unique opportunities for new franchise owners. Those who join our ranks benefit from stellar support from the experience and leadership of our management team. We are committed to your success. We work with our franchise owners every step of the way. Our goal is to help them grow a valuable, meaningful, and rewarding business in their community.
Why is Puroclean a convention?
Each year, we organize the PuroClean Convention to honor and appreciate our franchise owners. The annual convention offers industry speakers and thought leaders, training sessions, and social events. It also serves as the perfect opportunity to highlight PuroClean franchise owners’ achievements. The awards honor both long-time and new franchise owners in seven categories. It also recognizes technicians for the Technician of the Year Award.
What is PuroMetrix software?
We employ systems and processes, such as our PuroMetrix software (restoration management system). This makes it easy for our franchise owners to follow a proven recipe, and focus on building meaningful relationships in the community they serve.
What are the factors that determine the success of an Entrepreneu r?
The key factors in Entrepreneu r’s evaluation include costs and fees, size and growth, support, brand strength, and financial strength and stability . PuroClean predicts another strong showing on the 2019 Franchise 500 list.
What is Puroclean Academy?
PuroClean’s training center, the PuroClean Academy, is a remarkable facility. It delivers the highest level of training in our industry in North America and beyond. The PuroClean Academy consists of a high-tech classroom with special features to facilitate both in-person and remote learning opportunities. It provides interactive webinars; live, interactive video presentations; and other hands-on learning opportunities for the most effective, specialized education.
Where is Puroclean Restoration Services located?
Ben Doebler of PuroClean Restoration Services in North Western Portland, Oregon, recalls the process of signing on: “During my time with President Steve White, and the rest of the team, I felt a real comfort with the vision and direction in which PuroClean was heading. So, we took the leap and decided to open an office in the Portland, OR market, and it has been full speed ahead ever since.”
How does Puroclean support franchise owners?
PuroClean franchise owners are supported 24/7. No really, 24 hours a day there is a person you can call on our team that will help you with your business needs and the needs of your customers. Your dedicated regional director will be there from the time you open your doors, to your first job and beyond. Not only do you have support through our operations team, but you have support from our marketing team who can provide you the materials you need to market in your local community and optimize your personal website to be found by your local market of customers.
What is Puroclean owner?
In the initial ramp up phase, the PuroClean owner will be required to wear a variety of different hats – business development/marketing , project management, operations, customer service, and even “rolling up the sleeves” and doing some restoration work. However, we do not want owners buying themselves a job and to continue working in the business. As the business grows we want owners to work less IN the business and more ON the business, ultimately managing a multi-vehicle, multi-technician team operation.
What training does a franchise owner receive?
Not only will franchise owners receive industry training , but they will receive training from our marketing team, operations and business development departments. You can read more about our training and schedule here.
What is PuroVet for veterans?
PuroVet is a program PuroClean created that operates year-round with dedicated support programs for veterans operating in it’s franchise system. The PuroVet program offers veterans of the U.S. Armed Forces with a DD214 a discounted rate of 25 percent off the initial franchise fee – a savings of $12,500. Thank you to ALL that have served our nation.
What is FDD in franchise?
We can provide this information to you in written form in the Franchise Disclosure Document (FDD) in Item 19 “Financial Performance Representations.”
How long is Puroclean training?
PuroClean provides an engaging and hands on 3-week training sources out of our Home Office for all new franchise owners. The PuroClean Academy is a $1.5 million dollar state of the art facility that also includes an IICRC certified flood house.
Do storms make up the bulk of franchises?
No. Storms do not actually make up the bulk of our business in this industry. Our franchise owners are responding to emergencies right in their own communities for water lines breaking, a bathtub left running, kitchen fires, and dozens of every day emergencies that occur in the home or office. You might not see the frequency of these events occurring but 1 in 55 homes will. Through the relationships we teach you to build, you have a great business opportunity in the community you live in right now. Learn more about the industry and alternative revenue opportunities here .
How long should a franchise owner spend on operating costs?
Understanding how franchises are valued. To get the most money from the sale of an existing franchise unit, the seller should prepare to spend two to three years controlling operating costs and creating clean financial records. Franchise owners that cannot or do not take the time to do so run the risk of losing money in the long run.
How much is a cash flow multiplier worth?
The average range for cash flow multipliers is four to five times EBITDA. Therefore, if a business has clean tax returns showing $100,000 in EBITDA and an assumed five times cash flow multiplier, that business would be worth $500,000. However, if that same business could prove only $60,000 in EBITDA, and the multiplier remained the same, it would be worth $300,000.
Why should sellers be able to demonstrate positive trends in gross sales and EBITDA?
The seller should be able to demonstrate positive trends in gross sales and EBITDA because doing so will increase the value of the unit in question.
Can a first time buyer finance a unit?
If the seller can prove that his or her unit has predictable positive revenue trends, it will be much easier for a first-time buyer to finance the unit . If trends are negative, the seller may have to finance some of the deal in order for the transaction to move smoothly.
Do real estate leases affect franchise units?
Similarly, real estate leases will have a significant impact on the value of a franchise unit.
Can you refinance a franchise?
Finally, buyers who already own successful franchises have the option of refinancing their existing units to pay the down payment on new loans. For example, if you currently have a loan of $200,000 and you need $50,000 in cash, you could refinance at $250,000. This option is only available from a few lenders, including ApplePie Capital.
The Ins and Outs of Franchising
In simplest terms, franchising is a partnership established to distribute goods or services. It takes at least two parties to enter a franchise relationship - the franchisor and the franchisee.
Types of Franchises
Yes. A franchise opportunity allows small business owners to tap into a powerful arsenal of experience and knowledge. However, there are usually strict guidelines that franchisees must follow to remain in the partnership.
How to Evaluate Franchise Opportunities
If you're considering investing in a franchise, try not to look at it from the perspective of a consumer. Just because a particular franchise is popular doesn't mean that it's the right opportunity. You need to take a look at the entire franchising landscape.
Crossing T's and Dotting I's on a Franchise Deal
Once you've settled on an opportunity, you must vet the franchise thoroughly. At this stage, you want to recruit experts. Hire an accountant and an attorney to help you with the process.
The Biggest Challenge for Today's Franchise Owners
Consumer spending is up in 2019, which is excellent for franchise owners. At the same time, the labor market is tight, and employees are a vital part of operating a franchise.