Mr. Electric SPV

Every year, thousands of homeowners and businesses face electrical problems they cannot safely handle themselves — flickering panels, outdated wiring, EV charger installations, and commercial buildouts that require licensed expertise delivered on a schedule. The electrician you call in that moment needs to be trusted, insured, professional, and fast. That consumer demand is exactly what Mr. Electric was built to serve when it was founded in Waco, Texas in 1994, launching its franchise system in that same founding year. From day one, the brand's value proposition was built around professionalizing a trades category that had long been dominated by solo operators and unbranded independent contractors. Today, the Mr. Electric SPV franchise system has grown to approximately 240 franchise units as of 2026, with operations spanning 40 U.S. states, Canada — where the brand entered in 1996 — and the United Kingdom, which the company entered in 1997. The franchisor of record, Mr. Electric SPV LLC, operated for years as a subsidiary of Neighborly, recognized globally as the world's largest home services franchisor with 19 brands and more than 5,000 locations worldwide, a corporate parentage that provided significant infrastructure support, brand-building capital, and cross-referral opportunity. In June 2025, an acquisition by Complete Home Services introduced a new layer of ownership into the brand's history, a development that prospective investors should examine carefully through the current Franchise Disclosure Document. Joel Worthington serves as President and CEO with an 87% approval rating among franchisees and employees, a signal of internal culture health that matters when you are evaluating whether a franchisor will support your business over a multi-year agreement. The Mr. Electric SPV franchise opportunity sits inside one of the most recession-resistant, demand-stable, and structurally growing categories in all of franchising — essential skilled trades services — and its three-decade track record offers a foundation of operational credibility that newer entrants in the electrical services space simply cannot match.

The U.S. electrical services market is a massive and structurally growing category, with the broader home services trades industry generating well over $600 billion in annual economic activity across repair, installation, and maintenance verticals. The electrician services subsegment specifically benefits from several powerful and non-cyclical demand tailwinds. The rapid adoption of electric vehicles across the United States is creating a surge in residential and commercial EV charger installation demand, a service category that did not meaningfully exist for franchise electricians a decade ago and now represents a recurring, high-ticket upsell opportunity across every market. Simultaneously, the aging U.S. housing stock — with a median home age now exceeding 40 years — means tens of millions of residential properties carry electrical panels, wiring systems, and infrastructure that were not designed to handle modern electrical loads, creating persistent replacement and upgrade demand. The accelerating deployment of smart home technology, home battery storage systems, and solar integration further expands the addressable service menu available to professional electrical franchises. From a competitive dynamics standpoint, the residential and light commercial electrical services category remains extraordinarily fragmented, dominated by independent operators who lack the marketing infrastructure, technology platforms, insurance frameworks, and brand trust signals that a national franchise system can deliver. This fragmentation is precisely what creates the economic opportunity for branded operators like the Mr. Electric SPV franchise to capture market share in local markets without needing to outmaneuver an equally resourced competitor. The secular shift toward professionalization in home services — driven by consumers increasingly sourcing contractors through digital platforms, reviews, and national brands rather than word of mouth — structurally favors established franchise systems over solo operators in ways that compound over time.

The Mr. Electric SPV franchise investment begins with an initial franchise fee of $42,500, which positions the brand at a mid-tier entry point relative to the broader home services franchise landscape, where fees can range from under $20,000 for basic cleaning concepts to over $75,000 for premium restoration brands. Total initial investment for the Mr. Electric SPV franchise ranges from $152,000 on the low end to $314,925 on the high end, a spread that reflects variables including geography, local licensing requirements, initial vehicle and equipment needs, working capital reserves, and the specific market size of the territory being acquired. This investment range makes the Mr. Electric SPV franchise cost accessible compared to brick-and-mortar food service franchises that routinely require $500,000 to over $1,000,000 in total capitalization, while still representing a serious commitment that warrants rigorous due diligence. The ongoing royalty structure and advertising fund contribution are defined in the current FDD and represent important components of the total cost of ownership calculation every prospective franchisee must model before signing. As a mobile, service-based business model without the lease obligations, buildout costs, or perishable inventory burdens of retail franchise concepts, the Mr. Electric SPV franchise cost structure allocates a larger proportion of investment toward working capital, training, and vehicle setup rather than real estate — a structural advantage in the total investment profile. The Neighborly network affiliation that Mr. Electric carried for many years historically provided access to preferred vendor relationships and group purchasing power, which can meaningfully affect the ongoing cost structure for consumables, insurance, and equipment. Prospective investors should confirm current SBA loan eligibility status with a qualified lender, as service-based franchise systems in the skilled trades category have historically demonstrated strong SBA lending activity given their asset-light real estate profiles and essential services positioning, though investors should verify current program terms directly with lenders.

The Mr. Electric SPV franchise operates on a mobile, owner-operator or managed-owner model in which the franchisee oversees a team of licensed electricians serving residential and light commercial customers within an exclusive defined territory. Daily operations center on dispatching licensed electricians to jobs, managing customer relationships, handling scheduling and billing, and executing local marketing to generate incoming lead flow. The staffing model requires recruiting and retaining licensed journeyman and master electricians, which represents the most operationally intensive challenge in this franchise category given the ongoing skilled trades labor shortage in the United States. Mr. Electric's training program, supported by the Neighborly infrastructure, prepares franchisees for the business management side of operations — including marketing, financial management, and customer service systems — while the franchisee's licensed electricians handle the technical fieldwork itself, meaning the franchisee does not personally need to hold an electrical license in most markets. Initial training is conducted through a combination of classroom instruction at the corporate level and hands-on operational preparation, designed to get franchisees operational quickly within their territory. Ongoing support includes field consultants who work directly with franchisee locations, access to proprietary technology platforms for scheduling and customer management, national marketing programs that benefit from the scale of a 240-unit system, and the cross-referral network within the Neighborly brand family, which historically directed homeowner leads across its 19 brands. Territory exclusivity is a core feature of the Mr. Electric SPV franchise model, and the 2024 FDD reported 189 franchised locations within the USA specifically, with the Southern region representing the brand's densest geographic concentration at 112 locations across that region alone. Multi-unit ownership is a pathway that the brand supports, and the owner-operator model is the primary operating structure, though semi-absentee arrangements may be achievable for experienced multi-unit operators who can install strong management teams.

Item 19 financial performance data is not disclosed in the current Franchise Disclosure Document for Mr. Electric SPV, which means the franchisor has elected not to publish average revenue, median revenue, or profit figures to prospective franchisees through the FDD. This is a material point for investors to understand, because without Item 19 disclosure, evaluating unit-level economics requires independent research — including direct validation calls with existing franchisees, review of franchisee-provided financial records during the discovery process, and analysis of market-level revenue benchmarks for professional electrical services businesses. The absence of Item 19 disclosure is not uncommon in the trades services category and does not by itself indicate underperformance, but it does place a greater burden on the investor to conduct thorough validation. What the publicly available data does reveal is meaningful: in 2024, Mr. Electric opened 41 net new franchise units within a system of 211 total units, representing a net new unit growth rate of approximately 19% year-over-year — a figure that signals franchisee confidence and franchisor sales momentum simultaneously. The U.S. electrical services industry generates tens of billions in annual revenue, and independent electrical contractor businesses in the United States with an employee base of 5 to 10 technicians typically generate annual revenues in the range of $1 million to $3 million depending on market size, job mix, and operational maturity, benchmarks that prospective Mr. Electric SPV franchise investors should use as a general framework while conducting their own validation. The Southern U.S. market concentration — with 112 of 189 domestic locations in that region — may reflect favorable market conditions including housing growth, commercial construction activity, and population migration patterns that support electrical services demand in those states. Investors should treat the Mr. Electric SPV franchise revenue picture as something to be built through franchise validation rather than read from a disclosure table, and should weight the brand's 30-year operating history and 240-unit scale as positive signals of system durability when forming their independent assessment.

The Mr. Electric SPV franchise has demonstrated a consistent and measurable growth trajectory over the past several years, expanding from a primarily North American network into a system now operating across three countries — the United States, Canada, and the United Kingdom — with a global footprint approaching and exceeding 240 units as of 2026. The 41 new units opened in 2024 alone represent one of the brand's strongest single-year growth performances and demonstrate that the franchise development pipeline remains active and well-funded. The brand's competitive moat is constructed across several reinforcing dimensions: three decades of brand recognition in a category where trust is the primary consumer purchasing criterion, a national marketing program that smaller independent operators cannot replicate, the technology and CRM infrastructure that enables professional customer experience at scale, and the historic support of the Neighborly family network which connected Mr. Electric franchisees to a cross-referral ecosystem spanning 19 home services brands and over 5,000 locations. The recent expansion into high-demand service lines including EV charger installation positions the Mr. Electric SPV franchise directly inside one of the fastest-growing residential services categories in the country, as EV adoption rates accelerate and local installers struggle to meet volume demand. The June 2025 acquisition by Complete Home Services introduces a new corporate chapter for the brand, and investors evaluating this franchise opportunity in 2025 and 2026 should request the most current FDD to understand how the acquisition affects franchise support systems, royalty structures, and brand development strategy. The brand's entry into Canada across 12 provinces and territories — including Alberta, British Columbia, Ontario, and beyond — reflects a deliberate international expansion strategy that adds system scale and brand credibility to the investment thesis. Leadership stability under Joel Worthington, whose 87% approval rating from internal stakeholders is notably high for a franchise system of this scale, suggests that the operational culture supporting franchisees is functioning effectively.

The ideal Mr. Electric SPV franchise candidate is not required to hold a personal electrician's license in most operating markets, but must bring strong business management capabilities, a commitment to recruiting and retaining skilled tradespeople in competitive local labor markets, and the operational discipline to manage a mobile workforce across multiple simultaneous job sites. Prior experience in business management, home services, construction, or B2B sales is advantageous but not universally required, as the brand's training program is designed to prepare franchisees from diverse professional backgrounds for the operational realities of running an electrical services business. Multi-unit ownership is a realistic pathway for franchisees who successfully scale their initial territory, given the brand's structure and the economies of scale achievable by spreading management overhead and marketing spend across multiple exclusive territories. Available territory markets span 40 U.S. states as well as 12 Canadian provinces and territories, suggesting that white space for new franchise development remains significant even after three decades of system growth. The Southern U.S. region, which currently hosts 112 of 189 domestic franchises, demonstrates where the brand's strongest market density exists, while other regions represent potential growth territory for early-mover franchisee candidates. The timeline from franchise agreement signing to operational launch for a service-based mobile business like Mr. Electric is typically shorter than brick-and-mortar concepts, as there is no physical location buildout to complete, though licensing, vehicle procurement, staffing, and training still require meaningful lead time before revenue generation begins.

The Mr. Electric SPV franchise opportunity presents a fundamentally compelling investment thesis for investors seeking exposure to the essential skilled trades services category: a 30-year operating history, approximately 240 active units across three countries, documented single-year growth of 41 new units in 2024, a total investment range of $152,000 to $314,925 that is accessible relative to many competing franchise categories, and positioning inside several of the most powerful secular demand trends in residential and commercial services — aging housing stock, EV adoption, smart home installation, and the ongoing professionalization of trades services. The absence of Item 19 financial performance disclosure elevates the importance of deep franchisee validation, direct financial modeling, and independent market analysis before committing capital, and no investor should sign a franchise agreement without completing that process thoroughly. The recent acquisition by Complete Home Services and the brand's long tenure within the Neighborly ecosystem both represent structural inflection points that deserve careful examination through the current FDD and direct conversations with the franchisor's development team. For investors who want to approach this due diligence process with every available data tool, PeerSense provides exclusive due diligence data including SBA lending history, FPI score, location maps with Google ratings, FDD financial data, and side-by-side comparison tools that let you benchmark the Mr. Electric SPV franchise against every competing home services and skilled trades franchise in the market simultaneously. The combination of independent data, peer franchisee performance signals, and territory-level analysis available through the platform is precisely what separates informed franchise investment decisions from costly guesses. Explore the complete Mr. Electric SPV franchise profile on PeerSense to access the full suite of independent franchise intelligence data.