It’s every property owner’s biggest nightmare. A water heater leaks. A washer hose fails. A fire breaks out. Property damage affects millions of Americans each year, with 37 percent of U.S. homeowners claiming to have suffered losses from water damage. In fact, the average cost of a home water damage insurance claim is almost $7,000!
Property restoration may not be the most exciting franchise sector, but it has become a stable and profitable industry. Companies that help people recover from water damage are no exception. In 2016, insurance companies paid out a staggering $2.5 billion due to water damage and mold, with some 14,000 people experiencing a water damage emergency at home or work every day.
That’s why franchisees of this month’s spotlight franchise are cleaning up…literally and figuratively.
Along with offering water and mold damage restoration services, this franchise offers fire restoration, provides emergency services, storm damage services, sewage system cleanup and more! The company has been in business for more than a decade, restoring damaged residential and commercial properties.
They are the fastest growing restoration franchise in America, and major publications are taking notice. Recently, Entrepreneur Magazine recognized them as one of the promising brands in its “10 Hottest Franchise Business Categories” list. In addition, they ranked in the top 20 percent of Entrepreneur Magazine’s Franchise 500 for exceptional performance in areas including financial strength and stability, growth rate, and brand power.
Franchise owners of this company are realizing average gross annual sales of over $1 million, yet the investment for the company is as little as $77,950. The business is insurance-driven and recession-resistant, so income is steady and reliable.
Franchise units can be owner-operated or semi-absentee, so it’s suitable for those who want to work with their hands or those who want to do the CEO-type work in 10–15 hours per week. Not only that, but it’s a home-based franchise, so no need to scout and secure retail space.
Like all franchises, they offer a proven model of success and a terrific support system, but this franchise also offers a fast start program. That means they are able to get their franchisees up and operating quickly after they purchase their unit.
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