Streamline Your Opportunity Sales Process for Legal Services

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all right everybody Welcome to the uh franchise Empire newsletter for this week uh tar is out of town with his family on vacation which I hope he's enjoying so my name's Kevin um I'm on The Brokerage team I'm gonna head up the newsletter today so let me share my screen [Music] here I can figure this out okay and and if anybody's tuning in please feel free to um hop in the comments and ask a question I'll be able to cover that but for today we're going to go through a few things here and let me just uh zoom in a little bit here um and if you're not subscribe to the actual newsletter you can go to .franchise.org uh cover these together on this live uh session so today in five minutes we're going to go through a painting franchise with 3.8 million in sales we're going to talk about a service-based resale franchise um that's for sale for um in in Pennsylvania we'll talk about a quick case study and then uh talk about the upcoming podcast on tar show so let's dive into the featured resale for this week so this one comes from a franchise called Rainbow International restoration so they do um water damage fire mold every type of restoration service they're actually one of the oldest restoration companies um in the country they're also a neighborly franchise so you've probably heard us talk about neighborly Brands before but neighborly is a large umbrella company that has about 24 Home Services franchises underneath its umbrella so rainbow is the restoration franchise under uh the neighborly brand they've been around since 1981 and have uh 315 franchise units throughout North America um so again like I mentioned their primary Services include mold removal cleanup services water damage restoration and smoke and fire damage restoration this particular resale is in State College Pennsylvania um it was established in 2015 so uh it's been in business for almost 10 years the asking price is 800,000 so pretty wellestablished business um what's interesting on this one is the owner is retiring but the owner has been in advisory role for a long period of time they have a general manager a full-time general manager in place so if this is you know if you are looking for more of a semi- passive opportunity this could be something that you could take over and you know uh keep the general manager on staff um 2023 revenue for this one was 960,000 and they will provide more financial details upon signing a non-disclosure agreement um and they did say also they would include like a list of all the hard assets that would be included in the sales so this one again really established franchise this particular location's been around for close to 10 years they have a manager in place um and so you know if you look at the FDD for uh rainbow restoration the average gross sales for the top 25 % of locations um is 2.66 million so those are locations that have been open for at least a year and then overall for all the locations that were disclosed uh the average was 1.03 Million so pretty strong numbers there um uh across the board and you know like I said this one does have that general manager in place so if you are interested in something more semi-passive this could be a decent opportunity to pursue um but for this uh resale or any resales for that matter you can go to franchise empire.com resales um you can submit your information we can check on available resour resales in your specific Market uh if you're open to various markets or various types of franchises you know we can do a pretty broad check for you so feel free to go in there and submit your information you'll speak with either myself or somebody on our team um you know about what you're looking for and then we can potentially do a search for you um based on your criteria um so let's go to the client case study for this week so um we uh talked about um let's see here so we we helped a a comp a client purchased a painting franchise back in October of 2023 um and this one we've actually talked about this before but they both kept their job so husband and wife team they kept their job um and they're managing it semi- passively so what's cool is they hired a pretty good sales manager to kind of run the day-to-day sales for them and that person you know they trained them up well um and they're just they're just crushing it in terms of sales so they've been able to grow their business pretty considerably uh from a semi-passive standpoint now that's definitely like more difficult to do and it just kind of shows like you have to have um those key hires in place at the start when you when you're talking about doing something semi- passively um but they've done a great job J they've actually continued to come on our weekly group coaching calls with tar and get um coaching from him he's helped with uh adjusting things like the the amount of deposit they're collecting up front to help with cash flow so um they've done a great job we're not going to name the the franchise just to maintain uh compliance there but um that one you know you could talk to us we can give you more details about that specific client case study um the franchise of the week is called lime painting so lime painting um is also a painting franchise as you imagine they do Residential and commercial painting um they started franchising in 2018 they're not part of any umbrella or parent company so they're kind of a standalone franchise but they have about 80 units throughout the country um and the total investment for line painting is between 126 and 227 so I do believe for this one um you know they do recommend you have W2 painters on staff but I do think you can subcontract the painting work if you wanted to at the start but line painting I guess their biggest differentiator is how they structure their territories and the target market they go after so they are going after the higher-end market um and they go after higher household income levels so you know they're going to structure territories to hit a certain number of household uh households that meet a a certain income threshold and those are specifically the households they're going to Target in their marketing so digital marketing print mailers um so they're going to do high-end properties uh is really kind of their distinction in what they're they're trying to to do and they want to provide a really um high-end quality uh service to their customers um and so if you look at the item 19 it's actually pretty uh interesting here how they break it down so top 25% of owners are averaging 2.5 million in sales as you can see here for all the franchises disclosed they're averaging around 1.09 million in sales um the median 734 th000 and then if you look at the average project amount which is kind of crazy so the top 25% are averaging 88,000 per project so that's very reflective in in their marketing and who they're trying to Target they're they're going after bigger projects you know higher end projects um overall the systemwide average for a project is contracted Crews until you hire own W2 employees um so you know it's fast ramp up they do allow for semi absy ownership um you know from day one but you know this could be something where like the the case steady you need to hire somebody that's going to be really solid at these door-to-door sales um and then lastly you know the high ticket price projects so average job is 25k for other painting franchises I mean I feel like we've seen anywhere from 5 to 10K per per job size so you know this one is obviously whatever they're doing from a marketing perspective is working and who they're targeting um I'd be curious to hear like you know do they turn down smaller size jobs do they have a minimum job thres threshold because that's a pretty high average ticket price there but if you're interested in learning about lime painting um you know you can click here and go to ww. franchise empire.com Che territory we can do a check and see if lime painting is available in your area we always recommend kind of understanding your full criteria and seeing what you know you're looking for and we could do a number of different brands check on a number of different brands in your market so you know encourage you to go to the website and enter your information set up a call with us and we can better understand what you're looking for um but yeah that one is lime painting So lastly I wanted to talk about the franchise Empire show the the episode number 60 so tar talks about how you can build a massive portfolio of franchises he has on guess um his name is Nicholas Marco he's built a franchise portfolio with three different franchise Brands so a lot of times we've talked about building you know with our with our clients we talk about building within the same brand and just adding more units or you can build you can do that and then also add another brand and diversify your offering or you could also add a complimentary brand and cross refer customers so there's a lot of different ways to you know scale within the franchising model um and it's interesting you know what Nicholas has to say about um what he's done he's done a lot of hand andone franchises with which is a massage and spa uh clinic but then um you know he's he's added on a couple other brands here so definitely check that one out I mean we like to hear those stories we do have people that have come to us you know and they're they're multi-unit brand owners in one brand and they want to diversify and do something different and that would be a good case study here and a good episode to listen to on how he was able to accomplish that um but let me that I think that's it for this week I don't see any questions or comments in the uh comments field yet um give it a minute but if anybody uh you know again if you're curious to hear about resales or territory checks please go to our website submit your information and we can set up a quick chat with you um to learn more uh thank you very much everybody have a great rest of the week