The Franchise Insiders "Inside Scoop" Podcast

PuroClean Named One of the Most Profitable Franchises of 2024

• The Franchise Insiders • Season 4 • Episode 17

Share episode

Send us a text

The best franchise investment you've never heard of?

PuroClean Named One of the Most Profitable Franchises of 2024.

What if the most profitable franchise opportunities weren’t in food or fitness, but in property restoration? In this episode we explore the untapped profitability of PuroClean, a standout in restoration services recognized as one of the best franchises for 2024. 

With a robust network across the U.S. and Canada, PuroClean excels in water and fire damage restoration, mold remediation, and biohazard cleanup. Learn about the financial commitments involved, from franchise fees to total investments, and discover the stability offered by balancing both commercial and residential client services. 

Dive into the essential role of a franchise consultant in steering prospective owners toward long-term success. Whether you're drawn to a trendy Pilates studio or a practical service like PuroClean, the episode underscores the universal responsibilities of leading a team, driving sales, and ensuring exceptional customer service. We'll share insights on building a business legacy by working on your business, not just in it, and delivering high-quality service. By the end of our conversation, you'll gain a fresh perspective on franchise opportunities and learn how to navigate beyond the obvious choices to create a rewarding franchise journey.

The Franchise Insiders

Podcast

Schedule A Call

Text: 305-710-0050

Take our FREE Business Builder Assessment

Speaker 1:

Hey everyone. Jack Johnson here with your Inside Scoop on Franchising. All right, let's dive in. It's Saturday, november 9th. Okay, here's what I want to talk to you guys about.

Speaker 1:

If you were to go to my website, franchiseinsiderscom, you would see that one of the number one things we help people do as franchise consultants and we've been in franchising nearly three decades at this point, maybe three decades, right Since 2008 is how people identify franchises. They could not have done on their own right. Most people just don't. When they start their franchise search, when they start looking at franchises, they focus on food and they focus on fitness and that type of thing, and that's fine, it makes total sense. But the truth of the matter is is the most profitable franchises. They're harder to find, they're not as visible and sometimes initially they don't seem as attractive. So today I want to talk to you.

Speaker 1:

I was reading there was an article in Franchise Business Review. You can look up Franchise Business Review. You can look up Franchise Business Review. I think it's just franchisebusinessreviewcom. Anyways, reputable franchise news source. They've been around a real long time. Anyways, in Franchise Business Review they said PuroClean has been named one of the most profitable franchises of 2024 by Franchise Business Review and essentially what they said is that Puro Clean, which is a leading property restoration franchise. They specialize in water damage, fire and smoke damage, mold remediation and biohazard cleanup, which, again, again, these are things before even I got into franchising it's like biohazard what is that? But these, these are sectors that it doesn't matter who's in the white house, it doesn't matter what's going on in the economy. When you need them, you need them anyways.

Speaker 1:

Um, to be recognized by one of the most profitable franchises, I think that's huge. So, with nearly 500 locations across the US and Canada, let's see what does that look like? 500 locations, so 400 plus of them. In fact, all of them are franchises. They don't show any corporate units. Uh, okay, they built a strong reputation for, for providing world-class service. Of course, I mean that's that's sounds like marketing sort of jargon, but anyways, the point is, um, that's pretty huge to to get that sort of designation. So the question is why? Why would a franchise that's been around? When did they start? They were founded in 1986. They started franchising in 1991. The franchise fee is $59,000. The royalty starts at 10% and then it scales down to 3% as you grow.

Speaker 1:

Cash investments a hundred thousand, total investment two 25 to two 45. So you know again, if it's me, I'm taking the top end of that investment. That's, that's what I'm using, and maybe even I want a little bit more money to get me there. And when we talk about total investment, that's the number that gets it to the point where the business should then be, you hope, self-sustaining. But if you've listened to my podcast enough, you know I always say don't be surprised if the business needs a little bit more money. Sometimes with my pinks franchise, I've got to send over a little extra cash. Some weeks you blow it out. That's just, that's business ownership. But the hope is is that by about month 18, and once you've spent your 245, that the business is self-sustaining. But every case is different. Some people get going faster, some people get going slower. Anyways, okay, why does this matter to you?

Speaker 1:

So let's talk about PuroClean, because again, I think this is a great example of a very smart franchise to buy. They've been in business for 30 years. Their owners are active in their businesses, in their communities. They help their neighbors in times. Their communities. They help their neighbors in times of need. They're known as the paramedics of property damage.

Speaker 1:

So you might not be familiar with the restoration industry? Most people aren't. But PuroClean provides water, fire, smoke and biohazard remediation to commercial and residential customers. Again, that's really key. Commercial and residential customers Again, that's that's really key. Is is a franchise owner Myself. 50% of our clients about our residential and 50% are commercial. So it's, it's great to have that B2B, b2c Um and the. So it's it's good for for taking you through slow times with consumer purchasing.

Speaker 1:

So in South Florida we see a slowdown, um, in the summer when a lot of our residents go up North. So that's where building up the commercial side of your business is so valuable. They say don't worry, mold and biohazard are optional pieces you can add to the business. Um, my thought is, if you're up for it, you should, because those are great, great things to add that make your business generate more revenue, more bulletproof. So property damage is a daily occurrence in towns and cities nationwide. Property owners submit claims to their insurance providers, who then refer and then compensate a professional restoration company to manage the cleanup and restoration. They say handsomely compensate. Organic jobs and national program work are other ways to earn revenue as well. Okay, so who are the employees here? Their W-2 and 1099s are utilized as well, thoroughly screened, insured and trained and utilized in the latest mitigation technology and procedures, while operating under a strict code of ethics.

Speaker 1:

So if you listen to our other podcasts, we bought a franchise you know why I always say always be hiring, you're always hiring, you're always building your team. They say that, culture-wise, being involved in the community is important. I think this is a good thing to note. When you talk to, this is what they said. When you talk to Puro Clean franchise owners, they will tell you the work they do in their communities is highly rewarding. I've heard this from Bio One franchise owners that strictly do the biohazard cleanup. It's interesting that it creates work you know, dirty work that you wouldn't normally think would be something that would get someone to be passionate. I've heard that's exactly it. They say the work in their communities is highly rewarding and a primary driver for starting a pure clean franchise and they have a culture of servant leadership, extreme ownership and active collaboration. So if you're looking for a business that you can really sink your teeth into and get involved in, that would tell me this is one.

Speaker 1:

Can the business be run from home? It can, initially, or you can start with a small industrial space 1200 to 1500 square feet. Some owners in their system have 10,000 plus square foot facilities, but that's got to be a much more mature location. Franchise owners are active in their business and their communities. They perform three major functions they market locally, they produce the work and they manage projects. The business is privately owned. Talking about PuroClean, the business is privately owned, held by two owners who are restoration guys. They're committed to their franchise owners, who are their stakeholders, not a third party. Puroclean has 30 plus years of experience in the industry and 20 plus years as a privately held franchise system with nearly 500 locations In their FDD, the item 19 shows an average franchise open for at least one year and all of 2020-23 had an average annual gross revenue of $1 million or more.

Speaker 1:

That's on a sample size of 334 locations. So you would need to talk to them and for those of you out there, look. If you want to find out if your territory is available, text me at 305-710-0050. This podcast is not meant to be marketing into registration States like New York, california, illinois, pure clean may not be available in your market.

Speaker 1:

So again, this this to me if you're starting to think about franchise ownership, if you're exploring it, the reason why I wanted to focus on this today is look, here's a. Here's a franchise that just got an award for being very profitable. Here's a, a franchise that total investments around 250 K Um and if you compare it to some of the other retail options that are out there, this appears to be a much better investment and use of your money. And this is the kind of conversation that we can have. If you wanted to dive in and just sort of think about franchise ownership, you could visit franchiseinsiderscom thefranchiseinsiderscom. Excuse me, you could text 305-710-0050, or you could also call me at 800-445-6382. And we can talk.

Speaker 1:

We've partnered with a company that does a meta-analysis. It's not scary, it's essentially like taking an assessment, and what it does is it shows me where your strengths are in a business. I take it every single year as a business owner because I've found that my strengths, which used to be much higher sales and now have switched much higher leadership change. So I think it's really accurate. But it also will show me where you compare, which types of franchises you compare to high performers. So if you'd like to take the assessment with us the meta analysis assessment text me 305-710-0050 and just say assessment.

Speaker 1:

But yeah, that's if you're wondering how a franchise consultant like me, or any of the other hundreds of great people out there that do this for a living, help you.

Speaker 1:

It's helping you to not only look at those sort of fun, sexy franchises that everybody likes, but to show you franchises like Puro Clean, because it might just be that for the long-term sort of legacy building, stable asset building, that a restoration franchise might be the better fit for you. And I'll say this to you as a business owner myself, whether you own the coolest new Pilates franchise in town or you own the not as cool restoration franchise, your job as a franchise owner is to lead your team, is to make sure you have urgency to drive sales and grow your business and that you're delivering whatever your service is, to make sure you're delivering high quality customer service. Making burgers, cleaning out you know biohazard situations, delivering companionship to seniors at home You're not doing any of that as a business owner. You're working on the business, you're leading the team. So for today's Inside Scoop, that's what I've got. Enjoy your weekend. I'm Jack Johnson. We'll be back with you on the next episode.