Molly Maid Franchise Review
This franchise offers some nice advantages
Residential housecleaning has become one of the fastest growing industries in the country. According to estimates, over 10 million households use paid domestic services. Molly Maid is approaching $20 billion dollars in annual sales with a projected growth rate of 20 percent. Franchise owners enjoy double-digit growth rates fueled by repeat customers. This cash cow ensures that the hours you'll spend invoicing and managing accounts receivable will be few to virtually nonexistent.
Background and Benefits
The U.S. Bureau of Labor and Statistics expects cleaning services to continue to be one of the top generators of new jobs in America. The industry remains solid in an increasingly volatile economy with expanding consumer demand.
Franchise owners don’t clean the homes. Molly Maid trains the franchisee how to recruit, train, motivate, and manage employees to do the actual cleaning.
This proven system with a minimal upfront investment gives franchisees access to some of the fastest growing segments of the population—two-income families, career-focused young professionals, and retired couples at various levels of health. These are people who don't have the time or energy to clean their own homes.
How Much Does a Molly Maid Franchise Cost?
The franchise fee is a mere $14,900, or you can pay $35,000 to $40,000 for an exclusive territory. The initial package includes $8,500 for equipment and supplies. Molly Maid recommends having additional working capital of between $35,000 and $50,000 for the first three months. The total estimated initial investment is determined on a case-by-case basis based on your existing equipment, supplies, and other factors. Molly Maid wants to see liquid capital in the $30,000 range with a minimum net worth of $250,000.
Molly Maid offers and will assist franchisees with various financing options such as Small Business Administration loans and unsecured lines of credit. If you already have a cleaning service, you might be able to "roll in" your existing clients for a discount.
In exchange, you get a solid and respected brand name with more than 30 years of industry experience, as well as training and support services.
What We Like
A Molly Maid franchise offers fewer headaches than many other businesses. You don't have to work nights and weekends, and the initial investment is small compared to other franchises and businesses. Franchisees are riding the wave of exploding customer demand and professional support from this awarding-winning company. There is no expensive build-out, and equipment requirements are limited. Thirty-nine Molly Maid owners have achieved million-dollar circle recognition.
- Special Incentives: Molly Maid is a VetFran and MinorityFran participant. It offers 15 to 25 percent discounts off the current franchisee fee to qualified persons, including honorably discharged veterans.
- Minimal Accounting: No receivables with this one. Most clients pay in cash and checks, and you can decline to take other forms of payment to keep things simple.
- Ms. Molly Foundation: Chartered in 1996, the Ms. Molly Foundation is a non-profit organization that assists victims and families affected by domestic violence
Molly Maid Franchise Information
Business Established: 1979
Franchising Since: 1984
Start-up Cost: About $30,000
Total Investment: $89,200 to $137,200