How Miracle Method Has Capitalized on its Nationwide Growth Potential
Miracle Method, the largest bath and kitchen refinishing franchise in the nation, is celebrating a year of rapid expansion. In 2017, the brand successfully vetted candidates in new markets such as Birmingham, Savannah and Augusta, and continues to find new ways to expand its presence in existing markets where demand for Miracle Method’s unique service remains high.
“I’ve always been an advocate for supporting capable franchise owners to service and operate as many territories as possible,” said VP of Development for Miracle Method Gwyn O’Kane. “However, some franchise owners are happy concentrating on a smaller number of territories, and in that case, it is our responsibility to give them the help necessary to grow.”
One key reason Miracle Method is a top contender in the franchise space is the unparalleled opportunity it offers qualified candidates with its low cost of entry and strong return on investment. A portion of this can be attributed to Miracle Method’s strong buying power on product and efficient process.
When Miracle Method’s technicians service their customers, they are only at a home or local business for a very short period of time. Because of this, the brand’s locations can have multiple projects running simultaneously, allowing for multiple and consistent streams of income. For a large market, that leads to a larger potential pool of clients and an increased demand for a quick and efficient home repair service. Additional franchise owners and technicians then need be hired to accommodate a developing market.
“In franchising, strength often comes in numbers,” said O’Kane. “Becoming a household name only happens when a brand has solidified a nationwide presence, and in order to grow to that level, it’s important to have enough qualified franchise owners and technicians to support the market.”
For example, Miracle Method currently has one location in Chicago’s northwest metro area, but has the availability to open as many as eight more to service the city’s growing population of 2.7 million. To ensure franchise owners are successful in larger metropolitan markets, Miracle Method is looking at expansion opportunities in cities like Chicago where demand for the brand’s unique service is high.
“Our franchise owners typically start with a territory population of roughly 300,000 leaving plenty of opportunity and growth for both existing and new owners in markets across the nation,” said O’Kane. “With so many residential and commercial properties in the market, we are seeking more qualified operators to join our system.”
With a lower investment cost of $82,125 to $136,850, Miracle Method is very appealing to entrepreneurs who are looking for a strong return on investment and ability to be a multi-unit owner.
“One thing I love about this company’s business model is that many of our franchise owners also offer advice and support to their employees, helping them to move up through the system and become franchise owners themselves.”
The Miracle Method brand is very team-oriented. When one location succeeds, the whole company wins, which is why the brand is so focused on growth. Having created a unique product and a strong franchise system, Miracle Method looks forward to cementing its status as the leader in the home refinishing business.
To learn more about franchising opportunities, please visit https://fss.miraclemethod.com/.