Neighborly (US) Experiences Unprecedented Network Growth in 2020
09 Feb 2021 - Neighborly®, the world's largest franchisor of home service brands, ended 2020 strong with 382 new franchise agreements awarded, setting new records for signed agreements in three quarters and achieving the company's first franchise development trifecta since 2018 with number of units, revenue and EBITDA goals all surpassed in fourth quarter.
Between these impressive franchise development milestones and the organization's 2020 acquisitions of five home service brands, Neighborly's still-growing presence now consists of 4,500 franchises representing 28 total brands across nine countries.
"This past year, we successfully executed our 'Own the Home' strategy despite the challenges brought on by the pandemic," said Mike Bidwell, President and CEO of Neighborly. "2020 was unexpected, but Neighborly's family of home service brands persevered and adjusted protocols in order to continue safely providing exceptional service to our nearly 10 million customers around the world."
Neighborly's 2020 acquisitions of Dryer Vent Wizard, HouseMaster, ShelfGenie and Precision Door Service added entirely new verticals to Neighborly's portfolio of home services. In addition, Rainbow International completed an acquisition in Canada to supplement its network in that market. To ensure these and the rest of Neighborly's home services would be safely delivered throughout the remainder of the pandemic and beyond, Neighborly developed and perfected in 2020 a number of new service protocols including virtual estimates via video chats, contactless paperwork and payment and more, all designed to keep both customers and service professionals healthy.
Other Neighborly success highlights from 2020 include:
Announcement of plans to open a second Neighborly headquarters office in Irving, Texas, in April of 2021;
Receiving a silver medal in the Enduring Impact category of Inc.'s inaugural Best in Business Awards;
Being named Global Franchise's Best Property and Home Maintenance Franchise for the second consecutive year;
Onboarding of new Molly Maid Brand President Vera Peterson;
And inclusion of Neighborly and/or many of its franchise brands in top industry rankings, such as Entrepreneur magazine's Franchise 500 and Top Franchises for Veterans; Franchise Times' Top 200+ Franchises and Inc.'s List of Fastest Growing Private Companies.
Neighborly's 2020 success is already earning the organization coveted industry recognition in the new year, with numerous Neighborly brands included on the recently announced 2021 rankings for Entrepreneur's Franchise 500 and Franchise Business Review's Franchisee Satisfaction Awards.
"If 2020 showed us anything, it was that the Neighborly organization is resilient in its mission to deliver exceptional services to the homeowners who need them," said Bidwell. "As we progress into this new year, I look forward to seeing how the growth, execution strategies and digital transformation that carried us through one of the most challenging years in history will continue to elevate Neighborly as a trusted provider to customers and an attractive investment for prospective franchise owners."
Neighborly® is the world's largest home services franchisor of 28 brands and more than 4,500 franchises collectively serving 10 million+ customers in nine countries, focused on repairing, maintaining and enhancing homes and businesses. The company operates online platforms that connect consumers to service providers in their local communities that meet their rigorous standards as a franchisor across 18 service categories at Neighborly.com in the United States and Neighbourly.ca in Canada.
CISION PR Newswire