SERVPRO Press Release
Wall Street Journal Names SERVPRO as Top Performing Franchise
GALLATIN, Tenn.: February 14, 2008 – The Wall Street Journal announced Tuesday that SERVPRO Industries, Inc., has made their list of the 2008 Highest Performing Franchises. The list includes 25 franchise brands which met a variety of criteria to determine franchises which had the most years of operation, were financially strong and had the most success in the franchising business.
SERVPRO® joins a diverse group of successful franchises compiled by FRANdata, an independent research firm. In addition to SERVPRO’s Cleanup and Restoration class, other franchises are categorized as Food, Automotive and Health and Fitness. The final 25 franchises were selected from an initial group of 2,100 brands which met four main criteria – individual reporting of financial performance, seven or more years of franchising, positive net income and having greater than 100 operating franchises.
According to the Wall Street Journal report, SERVPRO® operates 1364 franchise units, as outlined in the 2007 Uniform Franchise Offering Circular. SERVPRO® currently operates 1,427 franchise units and estimates another 101 units will be opened in 2008. The three-year net income and shareholder’s equity is at 35%, and the percentage of turnover and closed franchises stands at 5%.
Rick Isaacson, Executive Vice President at SERVPRO Industries, Inc., said, “SERVPRO Industries, Inc. has maintained our company mission and vision for more than 20 years. The consistent ownership and management, and a dedication to improving the system for the benefit of our Franchisees, are the secrets to our success. In franchising, the franchisees on your team develop and execute your brand. We just provide the tools and guidance to make their job easier. We thank our wonderful Franchise network for serving our customers with excellence.”
SERVPRO® was also named the #1 franchise for the fifth straight year in the “Residential and commercial cleaning services” category in Entrepreneur magazine’s 2008 Franchise 500® list.
Founded in 1967, the SERVPRO Industries, Inc. franchise system is a national leader and provider of fire, water, mold and other specialty cleanup and restoration services. SERVPRO's professional services network of more than 1,400 individually owned and operated franchises responds to property damage emergencies ranging from multi-million dollar disasters affecting entire communities to those suffered by individual businesses and homes. Providing coverage in 48 states, SERVPRO® has established relationships with major insurance companies and commercial clients, as well as individual homeowners.