Mr. Electric franchise
Mr. Electric provides residential and commercial electrical repairs, installations and upgrades with licensed electricians working from service vans. Buyers can start fresh or convert an existing electrical business; it is part of Neighborly. At the end of 2025 there were 236 Mr. Electric locations in the US, all franchised.
- Cost to open
- $160K–$357K
- Franchise fee
- $42,500
- Royalty
- 6%
- Locations, 2025
- 236+56 in 3 yrs
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Company snapshot
- Franchisor based in
- Waco, Texas
- Time to open
- About 30 days after training, 1 to 3 months after signing
- Agreement length
- 10 years
- Territory
- Limited protection
- Financing
- Some financing offered
From Mr. Electric SPV LLC’s 2026 filing.
How much a Mr. Electric franchise costs
Opening one Mr. Electric franchise costs an estimated $159,500 to $357,425. That covers the franchise fee and everything else needed to open, through the first months of working capital.
Source: Mr. Electric SPV LLC, 2026 filing, page 40
Mr. Electric franchise fee
The franchise fee is $42,500, for a territory of up to 100,000 people, plus $425 per additional 1,000 people. You pay it when you sign the franchise agreement.
Source: Mr. Electric SPV LLC, 2026 filing, page 24
Royalty and ongoing fees
| Royalty | A license fee of 6% of gross sales, with minimums, paid weekly. |
|---|---|
| Brand or marketing fund | 3% of gross sales |
Source: Mr. Electric SPV LLC, 2026 filing, page 28
Sales and earnings
Shares figures Mr. Electric publishes sales or earnings figures for its locations: it gives 2025 average and median sales for 169 franchised businesses open the full year. The full tables, with notes on which locations are counted, are in its filing.
Source: Mr. Electric SPV LLC, 2026 filing, page 83
Locations opened and closed
| Year | Franchised | Company-owned | Closed |
|---|---|---|---|
| 2023 | 189 (+9) | 0 | 18 |
| 2024 | 211 (+22) | 0 | 19 |
| 2025 | 236 (+25) | 0 | 15 |
Closed or left counts terminations, non-renewals, locations bought back by the franchisor and locations that stopped operating.
Source: Mr. Electric SPV LLC, 2026 filing, page 87
How Mr. Electric compares
Of the 5 handyman franchises on this site, Mr. Electric is the 4th cheapest to open and the 4th largest by number of locations.
| Measure | Mr. Electric | Typical handyman |
|---|---|---|
| Cost to open, low end | $160K | $133K |
| Royalty | 6% | 6% |
| Closed or left per year | 9.1% | 7.5% |
| Change in franchised locations, 3 yrs | +31.1% | +25.6% |
| Shares earnings figures | Yes | 5 of 5 |
Typical is the median across the 5 brands in handyman franchises.
Other handyman franchises
Mr. Electric franchise questions
How long does it take to open a Mr. Electric?
About 30 days after training, 1 to 3 months after signing, according to Mr. Electric's 2026 filing. Finding a site, permits and build-out are what usually stretch it.
Does Mr. Electric help with financing?
Yes, in some cases. Mr. Electric may finance part of the cost, such as the franchise fee, for qualified buyers; terms are in its filing.
Do Mr. Electric franchisees get a protected territory?
Partly. You get some protection, but not an exclusive territory.
How long is a Mr. Electric franchise agreement?
The initial term is 10 years. Renewal is usually possible if you're in good standing, often for a fee and a remodel.
Is Mr. Electric growing or shrinking?
Over the last 3 years 108 franchised locations opened and 52 closed or left, a net change of +31.1%. About 9.1% of locations closed or left each year. That is in line with the 7.5% typical for handyman franchises.
How does Mr. Electric compare with other handyman franchises?
Of the 5 handyman franchises here, Mr. Electric is the 4th cheapest to open (low end $160K against a $133K median) and the 4th largest by number of locations. Its 6% royalty is in line with the 6% median.
Does Mr. Electric say how much franchisees make?
Yes: it gives 2025 average and median sales for 169 franchised businesses open the full year. Your results can differ; the filing explains which locations are counted.
Where is Mr. Electric based?
Mr. Electric SPV LLC is based in Waco, Texas.