LIKE IT NEVER EVEN HAPPENED.
Initial fee: | $42,000 |
Royalty fee: | 3-10% |
Total investment: | $133,050 - $181,450 |
Term of agreement: | 5 years, renewable |
Branch: | Insurance/disaster restoration & cleaning |
SERVPRO is the leading disaster-recovery and restoration company. It combines multiple income opportunities within one business. It offers repair and cleaning to home owners and businesses who suffered water and fire damages. The portfolio also includes cleaning services from upholstery cleaning, to mold removal, biohazard clean-up, as well as insurance consultations and trainings on water and fire restoration.
In the near past, major natural disasters have struck on us. Fortunately, companies like SERVPRO help us deal with the aftermaths of such occurrences. SERVPRO is the leading company to provide support by providing efficient and timely assistance. When in 2005 the deadliest and most destructive Hurricane Katrina submerged most of the Atlantic coast, SERVPRO took part in the clean-up. It did the same when three years later Hurricane Ike hit the east coast. The Nashville floods from 2008 are another example of the importance of SERVPRO’s work. Many people rely on disaster-recovery companies.
SERVPRO started as a family-owned painting company in 1967. Soon, it transformed and two years later the first disaster recovery franchise opened. Today, the company is still run by the same family. The locations number 1,601. Until recently, SERVPRO operated only in the USA. The first Canada franchise opened in 2011. The company wants to expand and is planning to open 100 franchises in the next five years. It is looking for promising entrepreneurs in Canada and the USA.
SERVPRO works out a business development plan that franchisees can follow. The minimum number of employees required to run a SERVPRO franchise is 5-10. This is not an impediment to entrepreneurs. More than 40% of them choose to open a second unit with the SERVPRO brand.