Neighborly® Begins 2023 Riding Strong Same-Store Sales Growth and Expansion into New Service Verticals
The global home service franchisor looks toward the future and better connection of customers to multiple brands while driving more business to its franchise owners
WACO, Texas (February 23, 2023) – Neighborly®, the world’s largest home services company, announced today ahead of the International Franchise Association’s annual conference in Las Vegas that it achieved record systemwide sales of $3.7 billion and another consecutive year of double-digit same-store sales growth in 2022. Neighborly surpassed the 30-brand milestone across both new and existing service verticals. The company has over 5,000 franchises and serves more than 2 million homes in the U.S. each year, in addition to the five other countries where it is present.
“We have built something special, which requires our brands and Neighborly to work together to achieve our full potential,” said Mike Bidwell, President and CEO of Neighborly. “Neighborly has the vision to become the go-to home services marketplace for homeowners, and our milestone achievements in 2022, along with the investments we are making in our digital platforms, have brought us closer to that goal than ever before.”
Neighborly acquired multiple brands throughout 2022, including Lawn Pride® and Junk King® domestically and Greensleeves® in the U.K., to add entirely new verticals and expand capabilities in Neighborly’s growing portfolio of home services worldwide. Propelled by significant acquisitions, the company surpassed milestones of more than 30 brands and 5,000 locations in its franchise network.
The continued expansion of the franchisor’s network comes amid efforts to establish Neighborly as "your hub for home services™," and cement Neighborly as the one-stop-shop for consumers. With brands across more than 19 service categories, homeowners can quickly find trusted providers across Neighborly's family of brands through the Neighborly app or website.
Other noteworthy Neighborly developments from 2022 include:
- Recognition for Neighborly and/or many of its franchise brands in top industry rankings, such as Franchise Times’ Top 200+ Franchises and Inc.’s prestigious list of Fastest Growing Private Companies;
- Implementation of new recruiting and retention platforms, partnerships, and tools for franchise owners;
- Rebranding of Rainbow International to Rainbow Restoration®, along with brand refreshes for Handyman® and Dryer Vent Wizard®;
- Mike Bidwell named Central Plains winner of EY Entrepreneur of the Year® 2022;
- Record attendance at annual company Reunion with more than 4,000 attendees;
- Renovation of spaces at the Global Headquarters in Waco, TX, and expansion of its Irving/Las Colinas, TX Headquarters;
- The launch of a new and robust Neighborly Franchising website.
Neighborly’s 2022 success is already earning the organization coveted franchise industry recognition in the new year, with numerous Neighborly brands included on the recently announced 2023 rankings for Entrepreneur’s Franchise 500® and Franchise Business Review’s Franchisee Satisfaction Awards.
“Our growth this past year would not have been possible without the dedication and support from our entire network of owners and associates. As our business-building strategy continues to foster success while we simultaneously differentiate ourselves as the choice for our franchise owners, I look forward to capitalizing on our momentum in the year ahead,” added Bidwell.
Neighborly® is the world's largest home services company with more than 30 brands and 5,000 franchises collectively serving 12 million+ customers in six countries, focused on repairing, maintaining, and enhancing homes and businesses. Through Neighborly.com and the Neighborly mobile app, Neighborly connects consumers to local service providers that meet rigorous franchisor standards across 18 service categories. 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 | [email protected]