In this exclusive Franchise Chatter FDD Talk post, you’ll learn the following:
Section I – Estimated initial investment (franchise costs) for a Mr. Electric franchise, based on Item 7 of the company’s 2024 FDD
Section II – Initial franchise fee, royalty fee, and marketing fee for a Mr. Electric franchise, based on Items 5 and 6 of the company’s 2024 FDD
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Colin started as a team member at 21 and now owns 6 locations in Tampa Bay. Lisa came from marketing and built 21 in San Diego. The most successful multi-unit owners move early and secure markets with room to grow. Use our free tool to search multiple ZIP codes and find franchises where you can still stack locations, before someone else does. A franchise specialist will be in touch to present what's available.Section III – Number of franchised and company-owned Mr. Electric outlets at the start of the year and the end of the year for 2021, 2022, and 2023, based on Item 20 of the company’s 2024 FDD
Section IV – News updates on the Mr. Electric franchise opportunity
Section V – Presentation and analysis of Mr. Electric’s financial performance representations (average revenues and/or profits), based on Item 19 of the company’s 2024 FDD, including information on the:
- 2023 average, median, highest, and lowest gross sales for the top 10%, top 25%, top 50%, bottom 50%, bottom 25%, bottom 10%, and all 80 Mr. Electric franchised businesses that were in operation and reporting sales for the full 52 weeks of the Reporting Period (January 1, 2023 to December 31, 2023), with a territory population ranging from 74,000 to 300,000
- 2023 average, median, highest, and lowest gross sales for the top 10%, top 25%, top 50%, bottom 50%, bottom 25%, bottom 10%, and all 26 Mr. Electric franchised businesses that were in operation and reporting sales for the full 52 weeks of the Reporting Period (January 1, 2023 to December 31, 2023), with a territory population ranging from 300,000 to 500,000
- 2023 average, median, highest, and lowest gross sales for the top 10%, top 25%, top 50%, bottom 50%, bottom 25%, bottom 10%, and all 30 Mr. Electric franchised businesses that were in operation and reporting sales for the full 52 weeks of the Reporting Period (January 1, 2023 to December 31, 2023), with a territory population ranging from 500,000 to 1,000,000
- 2023 average, median, highest, and lowest gross sales for the top 10%, top 25%, top 50%, bottom 50%, bottom 25%, bottom 10%, and all 16 Mr. Electric franchised businesses that were in operation and reporting sales for the full 52 weeks of the Reporting Period (January 1, 2023 to December 31, 2023), with a territory population ranging from 1,000,000 to 5,000,000
Section VI – Key ratios, comparables, computations, and analyses for the Mr. Electric franchise opportunity (exclusive content for Platinum subscribers)
Section I – Mr. Electric Franchise Costs
- Mr. Electric franchise costs, based on Item 7 of the company’s 2024 FDD:
- Initial Franchise Fee: $42,500 for a territory of up to 100,000 in population + $425 per 1,000 additional population over 100,000
- Vehicle: $3,500 to $55,000
- Equipment, Supplies, and Inventory: $12,000 to $20,000
- Insurance: $5,000 to $7,500
- Advertising, Marketing, and Promotional Spending: $30,000 to $60,000
- Training, Travel, Lodging, and Food: $8,000 to $16,000
- Deposits, Permits, and Licenses: $1,000 to $2,500
- Professional Fees: $0 to $5,000
- Real Estate: $0 to $6,000
- Additional Funds for 3 Months: $50,000 to $100,000
- Total Estimated Mr. Electric Franchise Costs: $152,000 (does not include real estate costs) to $314,500 + any additional franchise fee + any real estate costs
Section II – Mr. Electric’s Initial Franchise Fee, Royalty Fee, and Marketing Fee
- Mr. Electric’s initial franchise fee, royalty fee, and marketing fee, based on Items 5 and 6 of the company’s 2024 FDD:
- Initial Franchise Fee: $42,500 for a territory of up to 100,000 in population + $425 per 1,000 additional population over 100,000
- License Fee: 6% of Gross Sales except for specialty services and “roll-in” sales. In addition, minimum license fees apply.
- Marketing, Advertising, and Promotion Fee: 2% of Gross Sales
- Local Marketing Groups: not to exceed 3% of Gross Sales
Section III – Number of Franchised and Company-Owned Mr. Electric Outlets
Franchised
2021
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When I owned a UPS Store, I learned firsthand how much your ZIP code shapes your outcome. I sold my store at a premium because my territory was in a high-value area. The best areas go first, and once they're gone, they're gone. Enter your ZIP code, and a territory specialist will walk you through the franchises still available near you, drawing on information that isn't publicly accessible, saving you months of wasted research.🔴Free Webinar: 6 Under-the-Radar Franchise Concepts That Serious Buyers Should Know
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- Outlets at the End of the Year: 170
- Net Change: +12
2022
- Outlets at the Start of the Year: 170
- Outlets at the End of the Year: 180
- Net Change: +10
2023
- Outlets at the Start of the Year: 180
- Outlets at the End of the Year: 189
- Net Change: +9
Company-Owned
2021
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
2022
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
2023
🎯Find Best-Fit Franchises Still Available in Your Target Area (Free Tool)
When I owned a UPS Store, I learned firsthand how much your ZIP code shapes your outcome. I sold my store at a premium because my territory was in a high-value area. The best areas go first, and once they're gone, they're gone. Enter your ZIP code, and a territory specialist will walk you through the franchises still available near you, drawing on information that isn't publicly accessible, saving you months of wasted research.📈Dreaming of Multi‑Unit Success? Lock In Prime Territories Before They're Gone.
Colin started as a team member at 21 and now owns 6 locations in Tampa Bay. Lisa came from marketing and built 21 in San Diego. The most successful multi-unit owners move early and secure markets with room to grow. Use our free tool to search multiple ZIP codes and find franchises where you can still stack locations, before someone else does. A franchise specialist will be in touch to present what's available.- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
Section IV – News Updates on the Mr. Electric Franchise
Section V – Financial Performance Representations (Average Revenues and/or Profits) for the Mr. Electric Franchise (Item 19, 2024 FDD)
- The sales figures listed below are averages and medians derived from historical operating results of the Mr. Electric businesses indicated for the time periods covered.
- The franchisor obtained these sales figures from information provided to it by Mr. Electric franchisees using Mr. Electric’s software program for the period from January 1, 2023 through December 31, 2023 (the “Reporting Period”).
- Franchisees are not required to use generally accepted accounting principles when reporting these figures.
- As of December 31, 2023, there were 189 Mr. Electric businesses in operation in the United States, all of which were franchised businesses. This Item 19 includes data from 152 of such businesses for the Reporting Period, which were all in operation and reporting sales for the full 52 weeks of the Reporting Period.
- This Item 19 excludes data from 27 of the franchised businesses that opened during the year 2023 and were not in operation for the entire Reporting Period and 10 franchised businesses that failed to report reliable data to the franchisor for the full Reporting Period.
- Eighteen franchised businesses that closed during the Reporting Period are also excluded from this Item 19 because they were not in operation for the entire Reporting Period. Of the 18 businesses that closed during the Reporting Period, none closed after being open for less than 12 months.
- “Gross Sales” means the total revenues and receipts from whatever source (whether in the form of cash, credit, agreement to pay, barter, trade, or other consideration) that arise, directly or indirectly, from the operation of – or in connection with – a Mr. Electric business whether under any of the Marks or otherwise.
- Gross Sales exclude sales taxes collected from customers and paid to the appropriate taxing authority and any other bona fide refunds, rebates, or discounts that the franchisor authorizes in writing. Gross Sales also exclude sales from any Excluded Services.
- All of the franchised businesses for which sales results are reported below were operated by franchisees. The franchisor did not operate any of the businesses. All of the franchised businesses are comparable to the franchised businesses offered by the disclosure document and offered substantially the same services to the public.
- Some outlets have earned this amount. Your individual results may differ. There is no assurance you will earn as much.
Part 1 – Average and Median Gross Sales for Franchised Businesses Open and Reporting for Full 52 Weeks From January 1, 2023 Through December 31, 2023 (the “Reporting Period”) with a Territory Population Ranging from 74,000 to 300,000
Top 10%
- Average Gross Sales: $1,441,574
- Highest Gross Sales: $1,865,566
- Lowest Gross Sales: $1,170,430
- Median Gross Sales: $1,417,866
- Number in This Group: 8
- Number and Percentage in Group That Attained the Group Average or Greater: 4 / 50%
Top 25%
- Average Gross Sales: $1,112,958
- Highest Gross Sales: $1,865,566
- Lowest Gross Sales: $754,326
- Median Gross Sales: $1,062,478
- Number in This Group: 20
- Number and Percentage in Group That Attained the Group Average or Greater: 8 / 40%
Top 50%
- Average Gross Sales: $817,696
- Highest Gross Sales: $1,865,566
- Lowest Gross Sales: $340,617
- Median Gross Sales: $733,777
- Number in This Group: 40
- Number and Percentage in Group That Attained the Group Average or Greater: 16 / 40%
Bottom 50%
- Average Gross Sales: $174,028
- Highest Gross Sales: $324,875
- Lowest Gross Sales: $15,546
- Median Gross Sales: $171,017
- Number in This Group: 40
- Number and Percentage in Group That Attained the Group Average or Greater: 18 / 45%
Bottom 25%
- Average Gross Sales: $96,324
- Highest Gross Sales: $169,363
- Lowest Gross Sales: $15,546
- Median Gross Sales: $101,702
- Number in This Group: 20
- Number and Percentage in Group That Attained the Group Average or Greater: 11 / 55%
Bottom 10%
- Average Gross Sales: $47,419
- Highest Gross Sales: $95,790.64
- Lowest Gross Sales: $15,546
- Median Gross Sales: $35,162
- Number in This Group: 8
- Number and Percentage in Group That Attained the Group Average or Greater: 2 / 25%
100%
- Average Gross Sales: $495,862
- Highest Gross Sales: $1,865,566
- Lowest Gross Sales: $15,546
- Median Gross Sales: $332,746
- Number in This Group: 80
- Number and Percentage in Group That Attained the Group Average or Greater: 33 / 41%
Part 2 – Average and Median Gross Sales for Franchised Businesses Open and Reporting for Full 52 Weeks From January 1, 2023 Through December 31, 2023 (the “Reporting Period”) with a Territory Population Ranging from 300,000 to 500,000
Top 10%
- Average Gross Sales: $2,809,223
- Highest Gross Sales: $3,175,930
- Lowest Gross Sales: $2,524,934
- Median Gross Sales: $2,726,806
- Number in This Group: 3
- Number and Percentage in Group That Attained the Group Average or Greater: 1 / 33%
Top 25%
- Average Gross Sales: $2,202,437
- Highest Gross Sales: $3,175,930
- Lowest Gross Sales: $1,208,068
- Median Gross Sales: $2,144,838
- Number in This Group: 7
- Number and Percentage in Group That Attained the Group Average or Greater: 3 / 43%
Top 50%
- Average Gross Sales: $1,605,946
- Highest Gross Sales: $3,175,930
- Lowest Gross Sales: $1,006,417
- Median Gross Sales: $1,208,068
- Number in This Group: 13
- Number and Percentage in Group That Attained the Group Average or Greater: 6 / 46%
Bottom 50%
- Average Gross Sales: $566,599
- Highest Gross Sales: $995,574
- Lowest Gross Sales: $118,500
- Median Gross Sales: $443,382
- Number in This Group: 13
- Number and Percentage in Group That Attained the Group Average or Greater: 4 / 31%
Bottom 25%
- Average Gross Sales: $293,178
- Highest Gross Sales: $445,382
- Lowest Gross Sales: $118,500
- Median Gross Sales: $334,073
- Number in This Group: 7
- Number and Percentage in Group That Attained the Group Average or Greater: 4 / 57%
Bottom 10%
- Average Gross Sales: $156,281
- Highest Gross Sales: $225,999
- Lowest Gross Sales: $118,500
- Median Gross Sales: $124,344
- Number in This Group: 3
- Number and Percentage in Group That Attained the Group Average or Greater: 1 / 33%
100%
- Average Gross Sales: $1,086,273
- Highest Gross Sales: $3,175,930
- Lowest Gross Sales: $118,500
- Median Gross Sales: $1,000,995
- Number in This Group: 26
- Number and Percentage in Group That Attained the Group Average or Greater: 12 / 46%
Part 3 – Average and Median Gross Sales for Franchised Businesses Open and Reporting for Full 52 Weeks From January 1, 2023 Through December 31, 2023 (the “Reporting Period”) with a Territory Population Ranging from 500,000 to 1,000,000
Top 10%
- Average Gross Sales: $6,067,157
- Highest Gross Sales: $13,142,040
- Lowest Gross Sales: $2,518,517
- Median Gross Sales: $2,540,913
- Number in This Group: 3
- Number and Percentage in Group That Attained the Group Average or Greater: 1 / 33%
Top 25%
- Average Gross Sales: $3,446,890
- Highest Gross Sales: $13,142,040
- Lowest Gross Sales: $1,594,786
- Median Gross Sales: $2,080,851
- Number in This Group: 8
- Number and Percentage in Group That Attained the Group Average or Greater: 1 / 13%
Top 50%
- Average Gross Sales: $2,536,172
- Highest Gross Sales: $13,142,040
- Lowest Gross Sales: $1,381,368
- Median Gross Sales: $1,594,786
- Number in This Group: 15
- Number and Percentage in Group That Attained the Group Average or Greater: 2 / 13%
Bottom 50%
- Average Gross Sales: $732,839
- Highest Gross Sales: $1,145,783
- Lowest Gross Sales: $298,820
- Median Gross Sales: $740,507
- Number in This Group: 15
- Number and Percentage in Group That Attained the Group Average or Greater: 9 / 60%
Bottom 25%
- Average Gross Sales: $569,154
- Highest Gross Sales: $740,507
- Lowest Gross Sales: $298,820
- Median Gross Sales: $631,553
- Number in This Group: 8
- Number and Percentage in Group That Attained the Group Average or Greater: 4 / 50%
Bottom 10%
- Average Gross Sales: $364,163
- Highest Gross Sales: $477,971
- Lowest Gross Sales: $298,820
- Median Gross Sales: $315,699
- Number in This Group: 3
- Number and Percentage in Group That Attained the Group Average or Greater: 1 / 33%
100%
- Average Gross Sales: $1,634,506
- Highest Gross Sales: $13,142,040
- Lowest Gross Sales: $298,820
- Median Gross Sales: $1,006,417
- Number in This Group: 30
- Number and Percentage in Group That Attained the Group Average or Greater: 7 / 23%
Part 4 – Average and Median Gross Sales for Franchised Businesses Open and Reporting for Full 52 Weeks From January 1, 2023 Through December 31, 2023 (the “Reporting Period”) with a Territory Population Ranging from 1,000,000 to 5,000,000
Top 10%
- Average Gross Sales: $5,366,296
- Highest Gross Sales: $5,943,583
- Lowest Gross Sales: $4,789,009
- Median Gross Sales: $5,366,296
- Number in This Group: 2
- Number and Percentage in Group That Attained the Group Average or Greater: 1 / 50%
Top 25%
- Average Gross Sales: $4,762,011
- Highest Gross Sales: $5,943,583
- Lowest Gross Sales: $3,798,724
- Median Gross Sales: $4,652,868
- Number in This Group: 4
- Number and Percentage in Group That Attained the Group Average or Greater: 2 / 50%
Top 50%
- Average Gross Sales: $4,128,226
- Highest Gross Sales: $5,943,583
- Lowest Gross Sales: $3,355,234
- Median Gross Sales: $3,776,040
- Number in This Group: 8
- Number and Percentage in Group That Attained the Group Average or Greater: 3 / 38%
Bottom 50%
- Average Gross Sales: $1,795,718
- Highest Gross Sales: $3,286,170
- Lowest Gross Sales: $715,876
- Median Gross Sales: $1,623,875
- Number in This Group: 8
- Number and Percentage in Group That Attained the Group Average or Greater: 4 / 50%
Bottom 25%
- Average Gross Sales: $938,519
- Highest Gross Sales: $1,159,309
- Lowest Gross Sales: $715,876
- Median Gross Sales: $939,446
- Number in This Group: 4
- Number and Percentage in Group That Attained the Group Average or Greater: 2 / 50%
Bottom 10%
- Average Gross Sales: $785,199
- Highest Gross Sales: $854,521
- Lowest Gross Sales: $715,876
- Median Gross Sales: $785,199
- Number in This Group: 2
- Number and Percentage in Group That Attained the Group Average or Greater: 1 / 50%
100%
- Average Gross Sales: $2,961,972
- Highest Gross Sales: $5,943,583
- Lowest Gross Sales: $715,876
- Median Gross Sales: $3,320,702
- Number in This Group: 16
- Number and Percentage in Group That Attained the Group Average or Greater: 8 / 50%
- Of the franchised businesses in business for 12 months or more and which businesses had full 52 weeks of reported Gross Sales in 2023, the average and median Gross Sales for 2023 for 7 groups are shown: those that ranked in the top 10%, 25%, and 50%, respectively, in terms of highest level of Gross Sales; those that ranked in the bottom 10%, 25%, and 50%, respectively, in terms of lowest level of Gross Sales; and, finally, those representing all (100%) of Franchised Businesses in business more than 12 months with a full 52 weeks of reported sales in 2023.
Section VI – Mr. Electric Franchise Ratios, Comparables, Computations, and Analyses (Exclusive Content for Platinum Subscribers) ⬇️
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