- 2022 Franchise 500 Rank
-
#154 Ranked #149 last year
- Initial investment
-
$81K - $159K
- Units as of 2022
-
352 31.3% over 3 years
Here’s what you need to know if you’re interested in opening a Mr. Appliance franchise.
When it comes to appliance repair in North America, Mr. Appliance may be one of the first companies that comes to mind. The premiere home and commercial appliance repair brand began in 1996 and has since grown to over 290 locations in the U.S. and Canada.
Mr. Appliance has polished its franchise system for over two decades, striving to help people achieve true financial independence by giving them a business framework that has proven itself many times. If you’re looking for a new opportunity, or you would like to convert an existing appliance repair business, Mr. Appliance can provide you with expert resources and the support you need to get started.
Why You May Want to Start a Mr. Appliance Franchise
The appliance service industry is often considered to be fairly stable. You may even see growth during an economic downturn as customers may choose to repair rather than buying a new appliance. Customers need pros to keep their machines in good working condition. With a Mr. Appliance franchise, you may be able to provide them with those pros.
With the Mr. Appliance brand's strength, you may enjoy a successful franchise that seeks to support your local community. Mr. Appliance has been ranked in Entrepreneur’s Franchise 500 many times in the past several decades. This ranking is based on an evaluation of more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.
Mr. Appliance may be built for innovation, scalability, and repeat business. If you need financing, the Mr. Appliance franchise team may be ready to help, as it has partnered with third party sources that may help its franchisees cover the franchise fee, startup costs, equipment, inventory, and payroll.
What Might Make a Mr. Appliance Franchise a Good Choice?
To be part of the Mr. Appliance team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees.
One possible investment edge of becoming a Mr. Appliance franchisee is that the company is part of the Neighborly® system. Neighborly® is the power behind some of the biggest and most rapidly expanding home service brands in the United States. Mr. Appliance has the advantage of cross-marketing to other Neighborly brands in any given location.
How to Open a Mr. Appliance Franchise
The first step to becoming a Mr. Appliance franchisee is filling out an inquiry form.
Qualified applicants are usually invited to attend a meet the team day at company headquarters in Waco, Texas, where you will be briefed on their operations, marketing strategies, technologies, and more. Take this opportunity to speak with existing franchisees and ask questions to the Mr. Appliance team about their experiences. If you meet the brand’s requirements, you may qualify to open a Mr. Appliance franchise, and you can get started with an initial investment.
If you decide to open a Mr. Appliance franchise, you'll typically get started on a training program to prepare for opening your business. The company often assigns a coach to guide its franchisees, not only as they get ready to begin operations but throughout their ownership tenure. Will you repair your neighborhood with a Mr. Appliance franchise?
Company Overview
About Mr. Appliance
- Industry
- Maintenance
- Related Categories
- Home Repairs/Handyman Services, Miscellaneous Maintenance Businesses, Home Improvement
- Founded
- 1996
- Parent Company
- Neighborly
- Leadership
- Ron Shimek, Brand President
Franchising Overview
- Franchising Since
- 1996 (26 years)
- # of employees at HQ
- 1,600
- Where seeking
-
This company is seeking new franchisees throughout the US.
This company is seeking new franchisees in the following international regions: Canada
- # of Units
- 352 (as of 2022)
Franchisor Information
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Mr. Appliance franchise.
Financial Requirements & Ongoing Fees
Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
- Initial Franchise Fee
- $53,125
- Initial Investment
- $80,925 - $158,640
- Net Worth Requirement
- $200,000
- Cash Requirement
- $85,000
- Veteran Incentives
- 15% off franchise fee
- Royalty Fee
- 5-7%
- Ad Royalty Fee
- 2%
- Term of Agreement
- 10 years
- Is franchise term renewable?
- Yes
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- Third Party Financing
- Mr. Appliance has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- 8-40 hours
- Classroom Training
- 77.6 hours
- Additional Training
- Four regional meetings per year; annual reunion
- Ongoing Support
-
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresField OperationsProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
-
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingMarketing Planning & SupportSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Operations
Additional details about running this franchise.
- Is absentee ownership allowed?
- No
- Can this franchise be run from home/mobile unit?
- No
- Can this franchise be run part time?
- No
- # of employees required to run
- 1-3
- Are exclusive territories available?
- No
Franchise 500 Ranking History
Compare where Mr. Appliance landed on this year’s Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where Mr. Appliance ranked on other franchise lists? Find out below.
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