1-800 WATER DAMAGE Lands On Entrepreneur’s 2021 Franchise 500 List
Dynamic growth in an unprecedented and challenging economic climate leads to a major accolade for 1-800 WATER DAMAGE franchise
Everything else may seem topsy-turvy these days, but you can always count on Entrepreneur to bring some stability. The publication has just rolled out its 42nd annual Franchise 500 list and the 1-800 WATER DAMAGE franchise opportunity has scored a spot!
This means 1-800 WATER DAMAGE’s many positives are getting in front of thousands of men and women who are looking at becoming small business owners this year. Those entrepreneurs are doing their homework now and are starting with Entrepreneur’s ranking. It’s a smart play because there are a lot of variables to consider.
What goes into Entrepreneur magazine’s ranking formula?
Entrepreneur’s Franchise 500 ranking is so valuable because of all the factors it considers when looking at a brand. The magazine’s “Five Pillars” include: costs and fees, support, size and growth, brand strength, and financial strength and stability. The ranking process begins with data collection; only franchisors with a minimum of 10 units open as of July 31, 2020, were eligible to enter.
For this 42nd annual ranking, all those factors were weighed alongside the incredible challenges that 2020 brought. The magazine reports, even in this difficult environment “many existing franchisors continued to grow (and evolve), and new companies even continued to enter the franchise arena, resulting in a record-breaking number of applicants from an ever-wider variety of industries.”
Brand’s inclusion is validation of systems and processes
“We are delighted to be included on the Entrepreneur Franchise 500 list,” says Tim Fagan, President of 1-800 WATER DAMAGE. “This is the gold standard of franchise rankings because Entrepreneur’s editorial review team goes way past a superficial skimming of performance numbers; they really dive into the fundamentals of what a brand offers from training and support to R&D and concept longevity. We’re in, which means we’re ticking off all the boxes.”
“Getting ranked this year is especially meaningful, given the events of 2020,” he added, noting that “our corporate team at BELFOR Franchise Group and the franchises themselves have never worked harder. They uncovered ways to partner so we could continue to provide training, launch new franchise owners into their communities, and provide outstanding service to the customers who had water damage headaches to deal with – on top of the pandemic and everything else that was happening.”
A 1-800 WATER DAMAGE franchise is one of the most affordable businesses to own in the property restoration industry. The total investment for a standard franchise ranges from $70,822 to $211,537. These costs include everything from equipment, vehicles, and access to our state-of-the-art training platform. You also have the option to convert your existing business with an investment ranging from $57,613 to $175,637.