Entrepreneurs see opportunities to run successful home improvement business
While many franchise systems saw their growth grind to a halt during the recent economic downturn, Mr. Handyman, a full-service home repair and maintenance company, continued to build on their title of No. 1 employer of handymen worldwide by adding new franchises at a rapid pace.
Mr. Handyman opened 36 new franchises in 2009, with 12 more franchise agreements already signed in 2010. The Michigan-based franchises’ outlook for the remainder of the year is bright, as potential owners evaluate the benefits of joining the franchise system.
“There’s always going to be a need for reliable home improvement companies like Mr. Handyman,” said president of the Mr. Handyman franchise. “A strong demand for our services, good opportunity for financial gain, and a family-friendly lifestyle is motivating business-oriented entrepreneurs to become our franchise partners.”
Franchisee success stories have helped spur the system’s rapid growth. David Ambinder of Union County, N.J., swapped his 25-year career on Wall Street in 2009 for the opportunity to own a Mr. Handyman franchise. Despite little handyman experience, Ambinder used his strong business knowledge to help him become cash flow positive after just three months and turn a substantial profit after being open for just a year.
“The support from the Mr. Handyman franchise is exceptional,” said Ambinder. “They offer an outstanding training program and a knowledgeable corporate staff to help new franchisees hit the ground running. My background was in business support services, and they helped me recruit talented technicians so that I could focus my efforts on managing the franchise.”
With available territories nationwide and a target on growth in Atlanta, Denver, Kansas City, Salt Lake City, Tulsa, San Francisco/San Jose, Mr. Handyman plans to open 30 new franchise locations in 2010. The average cost to open a Mr. Handyman is approximately $120,000 with a franchise fee of $19,900.Mr. Handyman is part of a network of independently owned and operated franchises with 300 locations nationwide that provides commercial and residential property maintenance and repair services. Entrepreneur magazine has recognized Mr. Handyman as one of America’s fastest growing, service-oriented franchise systems and the No. 1 handyman service.