Significant development and same-store sales growth positions the global home service franchisor for continued expansion
WACO, Texas (February 24, 2022) – Neighborly®, the world’s largest franchisor of home service brands, announced today ahead of the International Franchise Association’s annual conference in San Diego the expansion of the company’s global footprint to 5,000 franchises representing 29 total brands across nine countries. In addition, the company achieved record same store sales growth for 2021 and systemwide sales of $3.3 billion. The company was acquired by KKR, one of the world’s leading investment firms, in third quarter 2021.
“We have ambitious plans to capitalize on this upward momentum and look forward to our next chapter of growth and innovation with KKR’s support and global expertise,” said Mike Bidwell, CEO of Neighborly. “Last year was significant for Neighborly as we validated our business-building strategy and differentiated ourselves as the partner of choice for our franchise owners and 10 million customers worldwide.”
The largest provider and franchisor of home service brands embarked on a digital transformation with a refreshed Neighborly.com website and the launch of the U.S. Neighborly app. To help drive further growth, Neighborly recently launched an all-new website for potential new business owners to explore franchising opportunities.
“As a franchisor, Neighborly simply could not have asked for a better year than we experienced in 2021 with more units sold in one year than ever before, expanding our franchise network in numerous areas and taking our Own the Home™ strategy to new heights,” said Brad Stevenson, Chief Development Officer for Neighborly. “Our franchise model proved itself to be resilient once again through its continuous evolution and innovation, and I’m proud of our family of home service brands for achieving significant growth while simultaneously delivering on our ‘Done Right Promise’ to thousands of communities.”
Neighborly’s 2021 success as a franchisor is already earning the organization coveted industry recognition in the new year, with numerous Neighborly brands included on the recently announced 2022 rankings for Entrepreneur’s Franchise 500® and Franchise Business Review’s Franchisee Satisfaction Awards.
Other noteworthy Neighborly developments from 2021 include:
- The grand opening of a second Neighborly headquarters office in Las Colinas, Texas;
- Roger Chacko joining Neighborly as the new Chief Strategy & Marketing Officer;
- Held its first annual conference in person since the onset of the pandemic, appropriately themed “Coming Together”;
- Successfully completed multiple acquisitions, including London-based Pimlico Plumbers;
- Reached 40-year company milestone, being founded in 1981.
For more information about Neighborly’s service brands visit https://www.neighborlybrands.com/.
Neighborly® is the world’s largest home services franchisor of 29 brands and 5,000 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 and through the Neighborly app. More information about Neighborly, and its franchise concepts, is available at Neighborlybrands.com. To learn about franchising opportunities with Neighborly®, click here.
For more information, contact:
Loren Brown, BizCom Associates
(817) 913-0194 | Loren@BizComPR.com