Discover why the home service franchise industry, offering lucrative investment opportunities with low initial costs and high profit margins are outselling retail and brick and mortar. Learn about the financial success and the benefits of semi-absentee ownership. Get valuable insights on franchise resales and learn why chic fil a may not be the best franchise to own. Contact us at 305-710-0050 for guidance on profitable home service franchises! - Jack and Jill, The Franchise Insiders
Discover why the home service franchise industry, offering lucrative investment opportunities with low initial costs and high profit margins are outselling retail and brick and mortar. Learn about the financial success and the benefits of semi-absentee ownership. Get valuable insights on franchise resales and learn why chic fil a may not be the best franchise to own. Contact us at 305-710-0050 for guidance on profitable home service franchises! - Jack and Jill, The Franchise Insiders
Hi everyone, I'm Jack and I'm Jill and we're the Franchise Insiders here to bring you another edition of the Inside Scoop Franchise Podcast. Jill, are you pumped about this great list of franchises? Always, I mean, listen, we're going to talk about roofing, we're going to talk about restoration, we're going to talk about business cost savings. So, exciting when we got married and I promised you this wonderful life. It's here. Here it is. We're talking about all these great blue collar services. Things change.
Speaker 2:
Yeah, these things get us excited now.
Speaker 1:
Well, and you know it's so cool, you guys one of the franchises we're going to talk about today is called Voto Restoration and we're going to have their CEO on our. We bought a franchise podcast today as well. So if you want to hear more about that, make sure you check out the we bought a franchise podcast. But for now, jill we're going to talk with about one of the hottest selling franchises of the last couple of years best choice roofing. What is it that makes best choice roofing such a such a franchise that people are just crazed over?
Speaker 1:
Well roofing crazed in a good way.
Speaker 2:
No, in a good way way. Roofing is it's a niche category, but it's necessary, yeah, um. So at some point in your home ownership you are going to need roofing. Um, it's recession proof low investment for the most part our client harrison owns the best choice roofing franchise.
Speaker 1:
The dude who's like barely a year in doing like a million six, I think, don't quote me on that. He says he's working semi-absentee. You know, living living the high life. So I mean it's a great business. I think the average franchise location uh does about 6.5, uh and revenue 6.2, but close 6.2.
Speaker 1:
That's still come on and the investment is uh, 59, 500. Franchise fee, royalty of 6%, total investment 193,000. So again, it's like you pay your your $60,000 franchise fee, you put another 120 K in the bank and off you go. They say you can run the business semi-absentee. We have a client that says he runs it semi-absentee. Again, as you guys have learned, if you've listened to enough of our podcasts, the work is really in the ramp up, as you're building these businesses, as you're staffing up, as you're building your team. But, like Jill said, roofing is pretty dang bulletproof, pretty low investment.
Speaker 2:
And your ticket. I think their average ticket is like 12,000. So, like your, your jobs are not these dinky little jobs. You're making a decent amount on each job. Jobs are not these dinky little jobs.
Speaker 1:
You're making a decent amount on each job. So I mean by comparison, if you want to go own a fancy cookie franchise, you're going to probably spend a million to a million seven getting it open and maybe, if you're lucky, you're going to gross a million two and net 120K.
Speaker 2:
I mean, we love cookies, so if you want to open one, we'll be your customer, your customer.
Speaker 1:
but yes, there's a big difference in your ticket price, but you could buy, you know, let's just say five best choice roofing units and build yourself. I mean, what even? Is that a 30 million dollar business? I don't know. For the same, this is why the market's moving into home services and away from retail. So if you want to save 10 grand on your best choice roofing franchise, text us 305-710-0050. Jill, I'm going to skip ahead because I'm just so excited. I want to get to this one next, which is Voda Restoration. Again, restoration. What does Voda Restoration do? Why should I own it?
Speaker 2:
So they do like, I mean, they're both commercial and residential. So businesses, homes, you know. Restoration again dirty business, not something we want to need, but we all need it at some point. And so they just kind of come in and help people. They become like their heroes on, as they call. They call them the heroes of the home because they come in and save you in these situations where restorative services are necessary. So it can be something's a flood, natural disaster, something happening in your home, but they come in and they really, you know, take care of it, and so it's. It's one of those. It's also like it is a feel good business but it's a dirty business. So it's one of those, again, you don't want to have to use them, but you're going to need to use them Well, and what's cool about Voda is they have the floor cleaning as well.
Speaker 1:
So, it's not just restoration. You can hit the ground running with, with floor cleaning jobs, which is super cool. That's part of the way in which V to get a quick start on your business. Boda also has very, I think, good looking branding, which is really key, and that's that's half the battle. And, of course, the restoration. So the average revenue for a unit is 1.7, 1.75 per location, with a net profit of $560,000. Again, I mean, how many retail franchises if you had? If you had a retail franchise doing 1.7, maybe you'd net 150, 170 grand this year, netting like 600,000. And I have to tell you, guys, if you own a franchise, you're the CEO of the business. So, like, whether you're the CEO of a burger franchise or restoration franchise, you're managing the business, you're leading the team, you are driving sales, you are making sure customer service is delivered. So really, is it that much more glamorous to own a burger franchise?
Speaker 2:
No, I mean it's different, but it's again. It's what. It's what you want. It's what you want out of you. You know your life and what you're expecting, so like.
Speaker 1:
If your dream is to be in a burger restaurant all day, you can have that well, and I don't want to pick on chick-fil-a, but I can't tell you you know, we've been in franchising for like 20 years, yeah, and I can't tell you how many people have said to me man, I just dream of owning a chicken. I dream of it still. Can you imagine hanging out with Chick-fil-A all day?
Speaker 2:
No, but that's you know what. That's the difference of things that you love versus what is going to be profitable and where you're actually going to make money. So, like you can love Chick-fil-A and love eating there every day, it doesn't mean you need to own it and run it. You can love going to Pilates every day. It doesn't mean you want to be a Pilates instructor, so it instructor. So it's important, especially when you talk to us, is to find out what do you really want out of it. Is your dream just really being around burgers all day?
Speaker 1:
if it is, let's find you the right part on that uniform, that nice name okay, no, but there's nothing I mean, we want to go there.
Speaker 2:
If that's your dream, let's, we'll help you, but if you're really just looking at. No I actually just really want to do well, have an asset, uh order five twenties up up I went to chick-fil-a the other day.
Speaker 1:
They are so nice, there stop it maybe my gosh?
Speaker 2:
okay, stop, maybe I'll see if they have an opening for you, because they do seem to be a match. Can?
Speaker 1:
we talk about this too, though actually you don't even own a chick-fil-a. Yeah, you don't own it, you're a glorified manager, it is true. So with a vota, you could own it and, ifting $600,000 a year, you could sell it for three times yeah.
Speaker 2:
No again. I think this is the beauty of franchising right, but we're here to help you understand that, so that you don't go ahead and jump into your burger franchise and then realize wait a second, I only really like eating burgers and I'm not making enough money. I'm working too hard for all the money that I put in, so that's why we're here to help you figure that out and show you some of these other options, and maybe, if you own a boda, you'll be able to go eat burgers more often Win-win.
Speaker 1:
Love that. You know, listen, red meat's good for you.
Speaker 2:
I don't know if the burger places maybe not from those places Do they have?
Speaker 1:
grass. Can we also talk about that? Voda has done for you marketing and we're going to get into it with Dan. I want to know more about this, yeah.
Speaker 2:
I know their support team is like, so yeah, that's cool.
Speaker 1:
Again, let's talk about this. The investment on a Voda franchise fee is 59,500. That seems to be the number where everybody is. This year Everybody's changed from 49,500 to 59,500. And that's you know. This is another thing to think about, guys. Next year that franchise fee is going to be 69, 500. So there is again. These things go up every year. Let's say, you're netting 600,000 in three years, dude, you made your money back fast. So the ROI on the restoration business is excellent and Voda is just one example there.
Speaker 2:
So I'm excited to hear more too, so tune in 1-800-PLUMBER-AND-AIR sold again this week.
Speaker 1:
Property Management Inc sold again this week. People ask me all the time what is property management? Pmi offers extensive expertise, proven success, modern tech, back office support, comprehensive training and over 50 revenue streams. Wow, with a strong national brand. Association, residential, commercial. Short term the investment itself $59,900, franchise fee, total investment $200,000. So again, these things are all kind of in about the same space. Next up on the list Jill Schooley Mitchell. I really like Schooley. I think it's a if you wanted to work from home, work from Hawaii, you know kind of control your schedule, not have employees. They are North America's largest independent cost reduction consulting franchise. They reduce business expenses in areas like telecommunications, merchant services and shipping.
Speaker 2:
Yeah, shipping it's very cool. I mean you, especially if you have kind of that like you don't have to be like an accountant, but if you're one of those people that has attention to detail and loves saving money, it's a it's a very cool concept because you really go in and do like an audit of businesses and find ways to save the money. Um, and I mean, there's so many things that we're all paying for that we don't realize we're paying for or we're paying top dollar.
Speaker 2:
So, um, you know, it's kind of a. It's an interesting like problem solving type of deal. So it's there. It really does appeal to a lot of people and the flexibility is is amazing because you can do it from home, you don't need to have an office. You do it on your own time.
Speaker 1:
They can do the generation.
Speaker 2:
Yeah.
Speaker 1:
I mean again, $68,000 franchise fee. You need another 30 grand to build your business. If you want to have kind of a a low key existence where you're not managing a bunch of employees. Uh, it's a good franchise, definitely, and you know. Again, low investment. You can really hustle when you want to and you can throw it back when you want to. Dennis, really, who started it? They've been around for years. They're really good people. I think you want to be. You want to be sort of a high sales person to do this. One quick point on schoolie that I think is interesting is that top franchisees net more than a million dollars a year. They are business to business. Jill, you're right, they set appointments for their franchisees home base, low overhead yeah, I mean, it's a pretty like simple one dome.
Speaker 2:
You know it doesn't involve a lot and it's it's.
Speaker 1:
You get what you put into it yeah, consultative businesses are good, and schoolie mitchell actually is one of the of the rare consultative franchises where someone sold it. Someone sold it for a million bucks.
Speaker 2:
They sold their schooling, mitchell, and the reason that is is you get recurring clients right.
Speaker 1:
It's not just a one-time thing, so there is something you can actually sell.
Speaker 2:
Yeah.
Speaker 1:
Whereas you know, like a business like Jill and I have in franchise consulting, you know it's us right. So if we're not here the business ain't worth much, which is why we own a window cleaning franchise called Pinks, because you want that business that can run without you.
Speaker 1:
So just one last note on the list I want to talk about another thing we help people with. There was a Serta Pro Painters, which is a painting franchise for sale in New Jersey. They want us to keep the location confidential. They're asking a million three. The gross revenue last year was 2.5. They had a net of about 300,000. To me, I really would like to see that net closer to 500,000. So I honestly would offer 900,000 and I'd try and push for as much seller financing as possible. You know the business has been established, been around for a long time. Painting is a really safe industry.
Speaker 1:
If you guys want more scoops on franchise resales, you want to find out which franchises are for sale in your area, make sure you subscribe to our newsletter. Just go to thefranchiseinsiderscom, hit the subscribe button and we will get you updated. Usually we send out at least once a month a list of some of the hottest resales. Once a week we do include if there's a good one for sale in our normal franchise insider sales report, we'll show it. So we'll try and give you guys that data. But for this week, that's all we've got to anything else on your end? Quick one yeah. Week. That's all we've got to. Anything else on your end? Quick one, yeah, well listen, we got dan from vota waiting on the other side.
Speaker 2:
No, no, but I think I think what a good list. Um, and back to the resales. You know we do include them, but they're very location specific. So you know, if you're interested in resale, just let us know. We can always check what's in your area.
Speaker 1:
I mean jill and I are looking at resale right now. They're fun if you can get the right deal, that they can be a good acquisition. There's things you need to know in looking at a resale and we'd be happy to tell you kind of what our checklist is. Text us 305-710-0050. But for this week I'm Jack, I'm Jill and we're the Franchise Insiders. We'll talk to you next time.