Water damage is widespread in many houses since most ordinary people make homes only once in their entire lives. And the rain keeps coming every year.
Even without rain, water damage can be hacked through several other reasons like pipe leaking crack in the ceiling. And in this age where people are stuck in their houses, they are noticing it more.
Also, while there is a constant coming of hurricane, tornadoes, floods, water damage is too common in those places.
Opening a water damage restoration franchise in some areas or providing services to those areas is an excellent way to earn a handsome amount of money since it is already a $4 billion market and continuously growing with a rate of 3.2%.
So, here are some of the water damage restoration franchise worth considering.
Servpro is one the oldest and topmost ranked restoration franchises in this sector. After opening in 1967, it started offering franchising in 1969, and from here, the number of its franchisees is continuously growing from fifteen hundred to almost nineteen hundred in ten years.
The company’s slogan describes its work motto as “Faster to any size disaster”, which means it’s not only water damage restoration but also other services like fire damage restoration, Storm damage restoration, biohazard cleanup etc., for both residential and commercial.
The minimum investment required to start this is around $107000 US dollars. In which the initial franchise fee is around $60000 us dollars. This minimum investment contains all the expenditure like a vehicle, equipment, supplies, insurance, taxes, and everything.
Rainbow International Restoration
Rainbow International Restoration was founded in 1981 in Waco, Texas, and since then, they started franchising. They provide restoration to both residential and commercial places.
Their restoration service includes water damage restoration, fire damage restoration, with more than 21 different types of services a homeowner would ever need. The total number of franchise companies has almost doubled in the past ten years. It went from 200 to 430.
The minimum investment required to set up this franchise is around $160000 US dollars covering almost all expenses. In which $40000 is the initial franchise fee. The training fee is around $25000 us dollars.
Puroclean is one of the fastest-growing companies in this sector. It has almost jumped twenty ranks above from its last year ranking. It was founded in 1990 in Tamarac, Florida, and from 1991 it started franchising. Besides water damage restoration.
It also provides many other services like fire damage restoration, biohazard cleanup, and many other valuable benefits.
They have helped in the recovery of many families and businesses from water, fire and other damages.
Their work is as good as their slogan, which is “The paramedics of property damage”. One example of their outstanding work is that there are no more than 300 houses after hurricanes in just one week. They have currently 285 franchisees and are still growing at a very high rate.
The minimum investment required is around $190000 us dollars. The initial franchise fee is $50000 us dollars.
Duraclean was founded by Irl Marshall Sr. in 1930, and it started franchising in 1940. It is one of the oldest companies in this sector which shows that they are delicious.
They also provide more services as compared to others. Besides the typical water, fire, smoke damage restoration, they also offer tile cleaning, grout cleaning, furniture cleaning, leather cleaning, carpet cleaning, crime scene cleanup, biohazard cleanup and much more.
They provide services to both residential and commercial customers.
The minimum investment required is around $120000 Dollars, in which the initial franchise fee is approximately $20000 dollars, and there is a royalty fee of around 8%.
Restoration 1 was founded by Andor Kovacs in Florida in 2008 and started offering franchising after 2009. Besides being one of the newest companies on this list, it has increased in these recent eight years.
The company provides many services like water, fire, smoke damage restoration, crime scene cleanup, biohazard cleanup, ceiling leaks, basement cleaning, pipe burst cleanup.
They provide all of these services to residential and commercial customers, but specifically, they work primarily for factories and refineries.
The minimum investment required is $80000 us dollars, in which $35000 us dollars is the franchise fee and a total of $50000 liquid capital is required.
911 Restoration was founded in 2003 by Idan Shpizear and Peleg Lindenberg in Los Angeles and had been franchising since 2007.
They call themselves “the fresh start company” this is because, after every considerable damage to someone property, they all need a fresh start, to begin with. Human’s emotions are the central perspective of this company; they promise a 45 minutes response time.
It has a caring approach towards people who just lost their houses or suffered colossal damage.
All of their services are for both residential and commercial customers. Some of the services they offer are water, fire, smoke damage restoration, sewage cleanup, general disaster restoration, mould removal etc.
The minimum investment required is around $70000 us dollars in which the franchise fee is $30000 dollars royalty fee is approximately 3 to 10%.
1-800 Water Damage
The company was initially founded in 1988, and it started franchising in 2002. 1-800 Water Damage company as its name is mainly a water damage restoration based company.
Their services include water damage restoration, water extraction, sewage cleaning, carpet cleaning, Upholstery cleaning.
But however the company nowadays also focuses on other restoration services like fire restoration, Mold remediation.
The minimum investment required is around $140000 US dollar, in which the franchise fee is $59000 dollars, and the minimum cash required is around $50000 dollars.
Steamatic was initially founded by Bill Blackmon and Scott Mooring in Texas in 1948 and started franchising in 1967. Steamatic provides cleaning and restoration services to both residential and commercial customers.
Their services include water damage restoration, water extraction, fire smoke restoration, mould remediation, documents restoration, art restoration, electronic restoration, restoration of damage caused by storms and hurricanes.
The minimum investment required is around $180000 Us dollars, in which the franchise fee is around $50000 us dollars and the royalty fee is as low as 2%.
FAQS Related to Water Damage Restoration Franchise
They not only provide water damage restoration but also provide many other services like fire smoke restoration, sewage cleanup, biohazard cleanup and much more;.
However, the main goal, or you can say the main foundation of these companies is to help in restoring the damage caused by storms and hurricanes.
Yes, almost all of them help to restore all the essential things in your property. They will make your property as it was before the disaster. However, some of the items can’t be completely restored.
The damage restoration market is growing day by day. On average more than 300 billion US dollars has been spent in a year by peoples in restoration. The market is growing at a rate of 3% every year. So, opening a water damage restoration franchise is a good idea.
Primarily targeted to those places where storms are widespread, you can quickly help people and earn money. All of the franchises mentioned above in this article are good in their work. You can choose any one of them according to your need.
I hope this article helped you with your problems—thank you for going through this article.