Franchise Owners Review Challenges & Opportunities
Restoration franchise review from experienced owners
Why is buying a franchise a smart business move? You’ve got processes and systems that help guard against economic downturns. That was a huge factor for 1-800 WATER DAMAGE franchise owners in 2020 as they worked to overcome pandemic-related issues while still providing high quality service. Now, they are providing restoration franchise reviews for 1-800 WATER DAMAGE.
And they are happy to share their insights, not just on surviving a pandemic but also how to build a strong, profitable business. Entrepreneurs looking through restoration franchise reviews are on alert for that kind of input so here are some thoughts from 1-800 WATER DAMAGE franchise owners on getting started, overcoming obstacles, and growing a profitable small business.
Bill Burns, Rancho Cordova, CA (2 years):
“At a time when many other businesses are failing and many people are out of work due to COVID-19, our first year in business is thriving way beyond our expectations! Right now, my business bank account shows that we have collected about $285,000 this year.
Looks like we might hit $375,000 our first year out. I pay my techs $25 and $22/hour (better than any other restoration company) — and I give them extra hours all the time. Even so, I have still only paid $26,000 in labor for $330,000 worth of business!!!
Sometimes I have to pinch myself to make sure this isn’t a dream!”
Fred & Lisa Arthur, Southeastern MI (10 years):
“[1-800 WATER DAMAGE] seemed to be recession-resistant, which was important,” Lisa says. “We wanted a business that would be pretty resilient in terms of what the economy might do. This type of thing happens every day to people; there is always somebody who has a water issue in their home for instance. That stacked up better than a food franchise, where you have to sell a lot of sandwiches in order to make your rent.”
“And if they don’t take care of the water, they get mold and the problem multiplies — we would be able to take care of that too,” Fred adds. “We really liked the idea of doing only a few jobs a month, especially starting out, because then we would have time to really learn the business and build our staff, but still be making money.”
“I would say that this business has met and exceeded all the goals we set for it,” he adds. “We make good money and we also get to ‘save the day’ and have an impact on people’s lives. That’s what really drives us. Do what you say you’re going to do and do it with high integrity. I went from a career in suit and tie to cleaning up raw sewage in someone’s basement! But I wanted to be the expert – and I am still the expert – in my company. I don’t do jobs anymore, but I know what they involve and what needs to be done. That’s why our crews know they can call me and get advice.”
Jim Chiodo, Vancouver/Portland, OR (15 years):
“Our growth has come in many ways. When BELFOR [Franchise Group] stepped in, they restructured how we went after business and also changed us from using independent contractors to hiring our own employees and using our own vans. That really gave us a lot more visibility in the community. We had to spend some money up front on these changes, but it has been very exciting and very good for us.”
“One thing that BELFOR has done is get us doing program work through insurance companies and that really amped up the market for us. We’ve seen a lot of those independent contractors fall away, and in the meantime, we’ve continued to build up the insurance-work side of the business. They are about half of what we do now so we are not as dependent on those plumber referrals. We still get those, because over the years, we have built some very strong relationships but getting into the insurance side of things has been very beneficial for us.”
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 $102,422 to $191,987. 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 $39,613 to $170,137.