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MaidPro Franchise ProfileCleaning Franchises > Residential Cleaning |
MaidPro Franchise Overview
MaidPro is a well-established cleaning service franchise that offers an opportunity for aspiring entrepreneurs to enter the lucrative home services market. With a low initial investment range of $105,560 to $130,800, MaidPro provides a competitive franchise fee of $45,000. The brand has a strong presence, with 238 franchised units as of 2023, indicating a stable and growing franchise network.
Financial Performance of MaidPro
MaidPro franchises have demonstrated impressive financial potential, with an average annual revenue of $465,803 per unit. The median annual revenue sits at $375,369, showcasing a solid earning potential for franchisees. While some units report lower revenues, the highest annual revenue recorded is an impressive $2,398,469, indicating that with the right strategies, franchisees can achieve significant profitability.
Initial Investment and Ongoing Fees
To become a MaidPro franchisee, a total cash investment between $105,560 and $130,800 is required. This includes the initial franchise fee and other startup costs. Additionally, franchisees should be prepared for ongoing fees, including a 6% royalty fee on gross sales and a 2% marketing fee, which contribute to the brand's overall marketing and operational support.
Support and Training for Franchisees
MaidPro offers comprehensive support and training for its franchisees, ensuring they are well-equipped to run their businesses effectively. This includes initial training programs covering operational procedures, marketing strategies, and customer service best practices. Franchisees also benefit from ongoing support, helping them navigate challenges and optimize their business performance, which is crucial for achieving the average breakeven time of just 12 months.
MaidPro Franchise Financial Requirements
Below, you’ll find an overview of the initial investment needed to launch the business, along with the ongoing fees required by the franchisor to maintain operations over time.
The minimum total assets (minus liabilities) you must possess.
Net Worth Required:
The estimated period to recoup your total investment.
Investment Payback:
The initial fee paid to join the franchise system.
Franchise Fee:
Ongoing percentage of revenue paid to the franchisor.
Royalty Fee:
Regular contribution toward the franchise’s advertising fund.
Marketing Fee:
The estimated timeframe to recover your initial costs.
Breakeven Time:
The total amount required to launch the franchise.
Initial Investment:
The minimum liquid capital you must have on hand.
Cash Required:
The typical yearly revenue generated per franchise location.
Average Revenue:
The middle value of yearly revenue among franchise locations.
Median Revenue:
The largest reported annual revenue among franchisees.
Highest Revenue:
The smallest reported annual revenue among franchisees.
Lowest Revenue:
A broad sector defining similar types of franchise businesses.
Industry:
A more specific division within the broader industry.
Category:
The key individuals guiding the franchise’s strategy and growth.
Leadership:
The official business address of the franchisor’s headquarters.
Corporate Address:
Available financing options to help start the franchise.
Funding Year:
The main organization that owns the franchise brand.
Parent Company:
MaidPro Franchise Unit Growth Summary
A breakdown of corporate, franchised, and total units, with yearly net changes.
Total Units
Franchised Units
Corporate Units
| Units | 2021 | 2022 | 2023 |
|---|---|---|---|
| Total Units | 246 | 241 | 238 |
| Net Change YoY | -5 | -3 | |
| Franchised Units | 246 | 241 | 238 |
| Net Change YoY | -5 | -3 | |
| Corporate Units | 0 | 0 | 0 |
| Net Change YoY | 0 | 0 |
Initial Investment
The MaidPro franchise requires a total initial investment ranging from $105,560 to $130,800. This investment includes a franchise fee of $45,000, which grants new franchisees access to the brand and its established business model. Aspiring owners should also consider ongoing costs such as a 6% royalty fee on gross sales and a 2% marketing fee to support brand promotion and local advertising efforts.
Financial Performance
MaidPro franchises have demonstrated strong financial performance, with an average annual revenue of $465,803 per unit. The median revenue stands at $375,369, showcasing a healthy income potential for franchisees. However, it's important to note that revenue can vary significantly, with the lowest annual revenue recorded at $51,918 and the highest at $2,398,469, highlighting the importance of effective management and market conditions.
Franchise Growth
Over the past few years, MaidPro has maintained a stable number of franchised units, with 246 units in 2021, decreasing to 241 in 2022, and further down to 238 in 2023. This trend indicates a slight contraction in the franchise network, which could be attributed to market dynamics or operational challenges. Franchisees should stay informed about industry trends to maximize their growth potential within the MaidPro system.
Breakeven and Payback
Franchisees can expect to reach breakeven within approximately 12 months of operation. The investment payback period is relatively short at around 14 months, making MaidPro an attractive opportunity for those looking to enter the cleaning service market. However, achieving these timelines requires diligent management and effective marketing strategies to attract and retain clients.
Operational Insights
MaidPro's average operating expenses total approximately $8,841,847, which includes costs such as rent, utilities, compensation, and marketing. Notably, compensation and benefits account for a significant portion of expenses, totaling around $4,642,839. Understanding these costs is crucial for franchisees as they develop their budgets and operational strategies to ensure profitability.
Brand Overview
MaidPro is a leading residential cleaning franchise known for its commitment to quality service and customer satisfaction. With a focus on providing reliable and customizable cleaning solutions, MaidPro has built a strong reputation in the industry. The brand's emphasis on training and support helps franchisees deliver exceptional service, fostering customer loyalty and repeat business.
Frequently Asked Questions
The initial investment for a MaidPro franchise ranges from $105,560 to $130,800, which includes a franchise fee of $45,000.