Hey Empire Builders,
Welcome to this week’s Franchise Empire Newsletter, where we share specific franchise opportunities that we think are interesting, and examples of everyday folks building their empires.
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Have you ever thought about the impact you have as a successful business owner?
When people find out you built a successful business, they are often impressed…curious, and perceive you as successful.
But it’s really about the impact you are having.
We recently had a young employee, who’s been with us over a year, transition out to pursue work in the area he’s studying.
He said to me: “This is the best job I’ve ever had”.
He went on to describe how he valued the independence we gave him, trust, NOT micromanaging him, and helped to build his confidence and skill sets.
How he was so grateful that we were able to comfortably provide for him and his family.
THIS is part of the “more than the money” side of being an entrepreneur.
Out of all the financial and metric based goals we’ve hit recently….
Those few minutes of conversation on how we’ve been able to positively impact him and his growth felt the most fulfilling, and like pure bliss.
THAT is what being an entrepreneur is all about.
“You can have everything you want in life, if you will just help other people get what they want”. – Zig Ziglar
Tariq
CEO & Founder, Franchise Empire
Today, in 5 minutes or less:
✔ $3.7M* with Boring (& Booming!) Plumbing Franchise
✔ Staffing Resale, 11 years in biz with Bluechip Franchisor
✔ A Franchisees Success with a boring & booming business
✔ Interview with a CEO on the Franchise Empire Show
Join Our Franchise Buyers Beta Course for
Aspiring Franchise Owners
FEATURED RESALE
Franchise resales possess many benefits for aspiring business owners – established cash flow, experienced employees, systems in place, and brand awareness to name a few.
This week, our featured resale comes from one of the largest and most profitable staffing franchises in the industry, Express Employment Professionals. Established in 1985, Express now has 798 franchise units throughout the United States. They offer Temporary, Flexible, Evaluation/Direct Hire, Professional/Contract Staffing in the categories of skilled trades, professional, light industrial and administrative services.
Royal Oak, MI
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Started in 2013
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Last 12 months P&L – need to sign NDA
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Asking price of $585,000
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7 employees on staff; poised for growth with the right owner
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Detroit suburb area / territory
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Workforce population of over 197,000 and almost 16,900 businesses
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Assignable office lease in place; 4,000 sf @ $3,850 per month
Franchise Empire’s Take:
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Express has phenomenal numbers! The item 19 is 9 pages long, and one of the tables shows data for units open more than 60 months. There were 418 units open more than 60 months and their average annual sales were $7,194,784!
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Over 90% of franchisees did not have staffing/recruiting backgrounds, yet many of them are still able to be extremely successful.
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Not only is this a profitable location and overall franchise system, you can also make an impact in your local community. The average office is able to place 600 people each year looking for a job in their community.
Curious to learn more about this particular franchise resale, or other resales available in your area?
CLIENT CASE STUDY
Rodney came to us knowing he wanted to do a “boring” business, and was stuck looking at a handful of options in the home service industry. We helped him get unstuck, super clear, and within 45 days he had a signed franchise agreement.
Since then Rodney’s been featured on the local news multiple times representing his franchise business. (Thanks in part to the franchisor’s team securing media coverage)
Rodney’s also developed into a community leader and is now a board member in his local Chamber of Commerce.
Here are 5 Low Cost Franchises that make
$1,000,000 (Backed by Data)
Most People Waste Countless Hours Of Time Stuck In Confusion, Scoping The Internet, Trying To Find Winning Franchises.
This Will Save You So Much Time.
We’ve Done The Heavy Lifting For You And Narrowed It Down To 5 Low-Cost Franchises That Make $1,000,000 So You Can Save Yourself So Much time.
FRANCHISE OF THE WEEK
History:
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Founded in 2001
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In 2010 Benjamin Franklin was purchased by Direct Energy. Direct Energy Services and Clockwork Home Services combined to become one of the largest providers of Plumbing, HVAC, & Electrical services in North America
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In 2019 Authority Brands acquired Clockwork Home Services from Direct Energy Services adding Benjamin Franklin Plumbing, One Hour Heating and Air and Mister Sparky to their portfolio of home service brands.
Numbers:
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Corporate Owned Territories: 10
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Franchise Units: 324
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Franchise Fee: $43,000
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Royalty: 6%
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National Marketing Fee: 1.5% – 0%, sliding scale down as revenue increase
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Total Investment Range: $131,092 – $274,076
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Term: 10 years
**Numbers according to their FDD released on April 26, 2024.
Description:
Benjamin Franklin offers residential and light commercial plumbing services, including maintenance, repair, remodeling and replacement; water conditioning maintenance, repair and replacement; drain and septic tank digging, cleaning, re-piping and replacement. The franchisees role will be to manage their team of technicians and support staff, customer service, networking and meeting with potential customers. You will have an office location where you meet with your team and hold products. You’ll start with one service vehicle and one installation vehicle and add more as your business grows.
Financial Data:
Below tables taken from the Benjamin Franklin 2024 Franchise Disclosure Document – Item 19, page 72.
Benefits for the Franchisee:
- Hiring and Training – You’ll have a franchise business consultant to help you find and hire good talent. All your employees – from dispatchers to technicians – will have a robust 200+ modules of training to choose from to ensure everyone is equipped to do their job well and the Benjamin Franklin way.
- High Margin in Private Label Products: Benjamin Franklin Plumbing franchisees stay ahead of the competition by installing private label products. This prevents customers from comparison shopping for equipment prior to install and keeps our company name and logo in the place clients need it most—on the equipment itself.
- Negotiated Pricing on Equipment & Everyday Items: BuyMax®, saves Benjamin Franklin Plumbing franchisees thousands of dollars on products and services your business uses every day. With a group buying power of over $1.3 Billion, we can negotiate steep rebates and discounts for the entire Authority Brands franchise network.
- Discounts – Not only does Benjamin Franklin give franchise fee discounts to minority, women, veterans, and first responders, they also have a Conversion Program offered to a small plumbing business who would like to convert to the Benjamin Franklin name and franchise.
- Stable Industry – Plumbing will never be going away and isn’t something that homeowners or property managers can do on their own beyond small, simple jobs. This will always be something in demand.
To see if this franchise is available in your territory
OR
Check the availability of ALL franchises in your area
Episode #57: This Janitorial Franchise Makes Success SIMPLE
What does it really take to build a successful business? Let’s cut through all the noise and really simplify the process for you.
In this episode, I got to chat with the President and co-founder of Image One, which is a cleaning franchise.
We of course talked about how many franchisees they have, start-up costs, and how much money their franchisees are making..
But I’m always so curious about what path people took to become successful in business. How do they think, what type of decisions do they make, etc.
So I wanted to know how Tim started off as a teenager cleaning businesses, to becoming a master franchise owner, to then starting his own thing and becoming a franchisor.
Tim has an incredible story that’s valuable for anyone who wants to own a successful franchise.
Sit back, take some notes, and enjoy the show.
That’s a wrap for this week’s Franchise Empire newsletter.
Feel free to reply with any questions, or feedback. I appreciate and value your time and attention.
I’ll see you at the same time next week!
-Tariq and The Franchise Empire Team