The Franchise Insiders "Inside Scoop" Podcast
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The Franchise Insiders "Inside Scoop" Podcast
Franchise Market Watch: November 15 2024 Roofing vs Senior Care?
Learn why people bought these franchises this week:
Mighty Dog Roofing
HomeWatch Caregivers
One Hour Heating and Air Conditioning
UpClosets
Pink's Window Services
Text: 305-710-0050
Hey everyone, jack Johnson here with your Franchise Inside Scoop for November 15th 2024. Happy Friday Today for you. I've got a little something different, a little Franchise Market Watch. I'm going to talk to you about the franchises that people invested in this week and kind of go down the list, and then we can talk a little bit about what makes these franchises unique. First up on the list Mighty Dog Roofing.
Speaker 1:Any of you that have listened to the podcast for a long time know my stance on this. Roofing is a incredible business. It has some of the best numbers that you can find in franchising. Honestly, it's the ability to do big jobs. In the case of Mighty Dog, they do residential commercial roofing services, they do siding, they do gutters and they do windows, and they've got a turnkey model where franchisees can focus on the two most important things that make them money performing estimates and completing jobs. So why would that be the case? Well, this is a subcontractor model, which means franchisees are worried much less about the employees and much more focused on going out there and getting business, and that's why, when you look in the item 19 of these businesses, the numbers are awesome. So extremely fragmented and unsophisticated competition, high margins. There's a lack of technology used in the industry from the competitors and mighty dogs got a really strong brand. Uh, they have 101 franchisees, 345 territories have been sold, 282 are open. That's really cool that they share that.
Speaker 1:Um, this is home-based. This is not absentee. Uh, this is E2 visa friendly. Yes, and their franchise fee is $59,500. Royalties are 8.5%. They say total investment is $214,000 to $320,000. So let's say it's $320,000. They want you to have a net worth of $500,000. Mighty Dog Roofing Text me at 305-710-0050. I'm telling you. Uh, this is one to look at, really good franchise roofing. You saw, um, that action exteriors came from resi brands, which is also a roofing brand which does siding and gutters and windows. Um, really, really great space. We can save you $2,000 to $10,000 on Mighty Dog, but you've got to text me to find out what the exact rebate is 305-710-0050.
Speaker 1:Okay, next on the list HomeWatch Caregivers. Well, seems like we're always talking about home care, right? Every podcast, home care franchising seems to come up. Homewatch caregivers, the caring experts, expert care Wow, what a, what a tagline. Homewatch caregivers franchise locations provide home care and personal assistance to individuals who are aging, disabled or rehabilitating, which allows clients to remain living independently at home through training and ongoing support from our from their team. Each HomeWatch caregivers franchisee is equipped to deliver the exceptional care and proprietary programs that provide peace of mind to clients and their loved ones.
Speaker 1:Okay, they say aging population 20% of the population will be 65 plus by 2030. Okay, I'm going to tell you something right now about home care. It's amazing to me how many of these companies bring up the 65 year old, the 60 year old, number 65. In my experience, your best clients in this business are 80 years and above. They really need you. They need you for the most amount of time. So when a home care company talks to you about all the people who are 65 and above, you tell them I'm not interested in that. I want to see how many people in my territory are 80 years and above. Okay, desire to remain at home. 89% of seniors want to remain at home. They don't say where they get that stat, but it used to be when I was in home care that people said 9 out of 10. So it's about the same number. Said nine out of ten, so it's about the same number.
Speaker 1:Um, health care reform places more emphasis on continuous care for patients, making in-home care a more essential part of the health care system. Uh, home watch has been uh around since 1980. Uh, they have proprietary online business management system called care plus uh technology on board. They say no need to have experience in this in in the home care business. That's true. Most home care companies don say no need to have experience in the home care business. That's true. Most home care companies don't want you to have experience because they're going to teach you their way from the ground up.
Speaker 1:The most successful home care franchisees that I've known have come from business backgrounds. They've got a client. They being HomeWatch has a client acquisition model that is unique to HomeWatch caregivers and proven, and they have multiple service levels, from companion to personal care to nursing services, depending upon the state license. Okay, so been around since 1980. First franchised in 1996, 224 franchise units. They say franchise fees 50 grand. We save you two to 10K. You know the drill royalties 5% total investment.
Speaker 1:Let's just go ahead and just start anytime. I'm going to give you guys the number. Let's. Let's go with the high number 154 K. Pretty consistent with home care, 150 K business, 150 K to build a business. I think that's a. From what I've seen over the years, there are some very consistent numbers.
Speaker 1:Now I'm on their website right now, the HomeWatch caregivers website, homewatchfranchisecom. They say on their website that 2.24 million is the average gross revenue of their franchisees. Now they have a couple of asterisks next to that. Let's see if we can find what those asterisks are. Okay, so this is for the 2023 calendar year as reported by all HomeWatch caregivers franchisees whose businesses were operational for a full 12 months See item 19, table 1B for the April 18, 2024 franchise disclosure document. Okay, so that's when they start to talk about these numbers in terms of average gross revenue. That's where they're pulling it from. Is their FDD, their estimated initial investment range. We talked about $92,154,000. This is not an offer to sell a franchise. This is me reading the information that is provided in their franchise disclosure document. Homewatch may or may not be available in your state. Text me to find out if HomeWatch is in fact available in your city and state at 305-710-0050. But again, look at that $150K investment and they show in their item 19 a very high average revenue. I mean, most franchises can't even dream of accomplishing that number. So when we talk about pound for pound home care being one of the best businesses out there. I will hold true to that every single day. So HomeWatch caregivers text me at 305-710-0050 to learn more.
Speaker 1:Up next is the newest from Horsepower Brands Varsity Zone HVAC. So Varsity Zone HVAC is a premier franchise, everything's premier, it's the premier, the best um premier franchise specializing in heating, ventilation and air conditioning services. Okay, what is better than this, you guys? Heating and air conditioning, we need it right. Total, need-based business. Uh. They service both residential and commercial clients. Varsity Zone offers comprehensive installation maintenance and repair solutions, ensuring optimal performance and energy efficiency. So Varsity Zone offers a great franchise in a boring, absolutely needed business and they benefit from robust support, extensive training and a proven business model. I mean, it comes from horsepower brands, um, if you want to know more about horsepower brands, go to our. We bought a franchise podcast. We interviewed um some of their top executives and you can hear about how they support franchisees. They really are top notch. Um.
Speaker 1:Why varsity zone HVAC? Over 50 years of HVAC industry experience, including sales, distribution, franchising, et cetera. Um, they offer franchisees the opportunity to sell carrier HVAC equipment and partnerships with solace air. They offer double the territory uh that their competitors do. 200,000 people in population.
Speaker 1:If you want to be considered for franchise ownership with Varsity Zone HVAC. You want to be a relationship builder. You want to have experience with sales, leadership and community centric. I think that's great. Okay, now here's something for all you guys to know. They were founded in 2022. They started franchising this year, 2024. They have one franchise operating no corporate locations.
Speaker 1:So this is a new concept. You guys got to know very new concept. They want to grow, initially in Colorado, florida, north Carolina, tennessee and Texas. Not available in California, north Dakota, new York, virginia, washington. Not home-based, not absentee, semi-absentee and, remember, we like to call it semi-involved.
Speaker 1:Now, by the way, if you're going to be a franchise owner, you should want to be involved. You know our franchise Pinks Jill, and I own a Pinks Windows Services franchise. We set a franchisee record last month for revenue and that's an awesome, awesome feeling to be amongst all these franchisees and to perform at a high level. It goes beyond making money. It goes to winning. So, for all of you out there who are interested in franchise ownership, to winning. So, for all of you out there who are interested in franchise ownership, you shouldn't want this just to be something that you just diversify with and you have as an asset. No, you should want to be a top performer. I mean, it is so rewarding to be successful.
Speaker 1:Okay, average number of employees required are two. Franchise fee is $59,500. The royalty has a scale Start seven goes to six, goes to five. You'd have to ask them about what it takes to to scale those numbers down. Total investment top end 252 000. That's surprisingly cheap. Um, they want you have a net worth of 400 000 and, of course, we can save you two to ten thousand dollars on this franchise. Uh, text 305-710-0050. Or go to thefranchiseinsiderscom for more.
Speaker 1:Next up on the list Pink's Window Services. Pink's Window Services sold this week as well. Pink's provides window cleaning, power washing, gutter cleaning Awesome, very cool brand. You got to go check it out. Go to pinkswindowservicescom. You've got to see this brand. They've got a merch page. They were featured in a Netflix movie.
Speaker 1:If you are looking for kind of cool retro branding in the home services industry, pinks is probably the best that's out there. Pinks is providing owner operator models, manager model, director model, providing owner-operator models, manager model, director model and CEO model, as well as enterprise model for franchise owners. So they have something for everyone in terms of what you're looking for. You want to dive in, be owner-operator, go out there, be the GM, lead your team great, you want to be semi-involved and act as a manager over your team. You can do that. Director model is where you're owning four to five units and you're directing and driving the sales team and the development of the business. And then the CEO model has five or more units and essentially you're the CEO of your own holding company, casting vision, overseeing the organization as a whole. I think that's kind of where I fall somewhere between director model and CEO model.
Speaker 1:For my pinks. I kind of do both. My my role is really to well. I spent most of my time running pinks, really working with my GM, and I'm like this morning I began the day looking at our schedule, cleaning up our PNL I still do our P&L for Pinks and just sort of seeing where we were in terms of collections. When the checks come in, I deposit all the checks. These are all things that are pretty easy to do. I'm able to put it into a couple hours a day. So, again, it's being a franchise owner. You want to be involved, you want to lead the team, but there's multiple ways to do it, and so, again, that's what's cool about Resi Brands and Pinks is. It does give you those options. Pinks is moving pretty fast. It seems to me every week when I join the franchise owner sales call that there are new faces on the team. So that's very exciting and the support is there.
Speaker 1:A lot of people ask me about the support for Pinks, despite the growth of Resi Brands, which has been fabulous. Yeah, they're all over us. Franchise fee and when I say all over us, that's in a good way. Franchise fee is $59,000. Royalties are 7%. Total investment $166,000.
Speaker 1:Let me clarify I'm giving you guys all these numbers. This is for a single unit franchise. So if you want to scale and do more units, that's a conversation you'd want to have with Rezzy Brands. We can save you $2,000 to $10,000 on your Pinks franchise. But you got to text 305-710-0050 to find out more why Pinks. They're backed by Rezzy Brands. They've got 30 employees on staff to support their franchisees. That brands They've got 30 employees on staff to support their franchisees. That's true.
Speaker 1:And a very strong item 19,. Super strong item 19. You definitely want to get a look at that. And what else do we have? Okay, one hour heating and air conditioning. Isn't that interesting Varsity Zone sold this week and one hour heating and air conditioning Looks like it did three placements, meaning three different people bought it this week. So here we are. What are we seeing in terms of what people are investing in? They're investing in air conditioning, they're investing in window washing, they're investing in roofing, they're investing in home care. To me, this just makes my heart happy to see people buying these smart franchises so real quick.
Speaker 1:One Hour Heating and Air Conditioning. They are the largest HVAC service provider in the United States. They are an essential service. Their franchisees experience a more consistent demand and better work-life balance than is found with other industries. With comfort and convenience a top priority, one Hour Heating and heating and air conditioning offers an extensive line of products and services, including maintenance, installation and repair, that keeps HVAC units running at peak performance year round.
Speaker 1:Okay, so we talked about varsity zone. Why would you go varsity zone even though they only have one unit? Well, they're from horsepower brands. That's the latest and greatest. Now let's go to this.
Speaker 1:One Hour Heating and Air Conditioning was founded in 2003. They started franchising in 2003. They have 323 franchises open and they have 78 franchisees. You could say the average franchisee owns four units, but I think there's like a guy that owns all the franchises in Florida. So I'm not sure exactly how that average breaks down, but I will tell you this they have 33 corporate-owned franchise locations. That's really cool. There are hot markets that are available Louisville, kentucky, tulsa, oklahoma, greensboro, north Carolina, portland, oregon, boise, idaho, albuquerque, new Mexico, salt Lake City, Phoenix, arizona, san Francisco, california, los Angeles, california and Boston, massachusetts. They are sold out in Florida and Alabama, not home-based.
Speaker 1:You can do semi-involved with them. The franchise fee is $43,000. The royalties are 6%. The total investment on the high side is $274,000. They want you to have a net worth of $150,000. And if you want to save $2,000 to $10,000, you want to text 305-710-0050.
Speaker 1:You can work with me personally. I'll help you explore one hour heating and air conditioning and all these franchises. And all these franchises. I'll share with you kind of what Jill and I do to run a successful franchise, how we've been able to scale our franchise quickly, but also give you the real scoop on how do you overcome those hard months.
Speaker 1:For those of you that listened to the podcast yesterday, you heard me talking to Jeff Duden, who has Homefront Brands, about how, at month six, you may want to quit. You may not want to do this anymore. That's okay. It's fighting through the heart. It's like when I get in the cold plunge in the morning, that first, those first five seconds, are really hard, but after I've finished with the cold plunge, I'm so glad I did it. Um, and the same is true of business ownership. You have to know what you're in for. You have to fight through the hard. Okay, the other franchises that sold this week Mobility City they fix wheelchairs, scooters and more. Up Closets, which is a closet sort of design service. I feel like Up Closets is selling like almost every single week this year. But that's the franchise market this week.
Speaker 1:You guys, things are moving at a very good pace here as we start to kind of close in on the end of the year. For those of you that are starting to think about this that you might want to start exploring franchise ownership, here's kind of what it looks like From the first conversation with me or with Jill about exploring franchises to the time you would become a franchise owner. Because we have to go through the process. We have to find the franchise that's right for you. Once we do that, it's about a four month process from first phone call to you becoming a franchise owner.
Speaker 1:If we're talking about some of these service franchises Mighty Dog, like Pinks, like Varsity Zone, like one hour air conditioning it's another three to four months to get open. So if you were to begin your journey with us today, midway through November, we're looking at opening somewhere in the early summer. So there's your timeline If you'd like to talk to me about it. Text 305-710-0050. Let's get on the calendar, let's talk about your needs, let's talk about how we might be able to help you identify the best financing solutions for your franchise, the best legal solutions for your franchise, and show you franchises that make sense for you. Thanks for joining me today for the Inside Scoop on Friday, november 15th 2024. I'm Jack Johnson and I'll talk to you next time.