LAST UPDATE: August 2024

FRANCHISE WEBSITE: https://www.mrcoolfranchising.com/

NUMBER OF LOCATIONS: N/A (see below)

REPORTED ADMISSION COSTS: $1,177,676 – $6,933,902

REPORTED ROI (item 19): N/A (see below)

MRCOLOR is an HVAC franchise company specializing in providing energy efficient heating and cooling solutions, including ductless mini-split systems and heat pumps, to meet growing consumer demand for cost-saving, environmentally friendly and smart home compatible products.

How many MRCOOL locations are there?

MRCOOL was founded in 2014 and began franchising in 2023. Since the brand operates through a network of resellers and online retailers, there is no real way to determine the number of physical locations. MRCOOL provides a map of the locations where MRCOOL products and services can be purchased.

What is MRCOOL’s business model?

MRCOOL franchises cater to the growing demand for energy efficient HVAC solutions driven by rising energy costs, climate change, the need for smart home integration, government incentives and urbanization. Key elements of the business model include:

• Energy efficient products: MRCOOL specializes in energy efficient HVAC products, including ductless mini-split systems and heat pumps, meeting increasing consumer demand for cost-saving and environmentally friendly solutions.
• Smart Home Technology: MRCOOL products are compatible with smart home systems and the Internet of Things (IoT), meeting the modern consumer’s need for connected and remotely controllable HVAC systems.
• Government incentives: MRCOOL franchisees can take advantage of various government incentives such as tax credits and rebates that encourage the adoption of energy efficient HVAC systems.
• Training and support: To ensure franchisees are well equipped to run their businesses successfully, we offer comprehensive training programs and ongoing support.
• Growing market: The HVAC industry is experiencing growth due to factors such as energy efficiency demands, climate change, aging HVAC systems and urbanization. MRCOOL franchises are well positioned to capitalize on these trends.
• Exclusivity: Franchisees receive exclusive territories, ensuring that they can operate in a defined market area without direct competition from other MRCOOL franchises.

How much can MRCOOL franchisees earn?

According to MRCOOL Franchise Disclosure Document (FDD) 2023: “We make no statements about the future financial performance of any franchisee or the past financial performance of company-owned or franchised locations.”

How much does it cost to open a MRCOOL franchise?

The initial investment required to open a MRCOOL franchise ranges from $1,177,676 to $6,933,902. These costs include:

• Initial franchise fee: 50,000 US dollars
• Building and tenant improvements: $160,660 – $308,750
• Leasing deposits (3 months): $28,125 to $90,000
• Furniture, furnishings and equipment: $60,698 – $123,117
• Signage: $5,875 – $12,740
• Computer, software and business management system: $51,647 – $150,000
• Marketing for the grand opening: $2,000 to $5,000
• Opening inventory: $673,485 – $5,877,119
• Additional costs deposits: $1,274 – $1,912
• Insurance deposits (3 months): $5,625 – $12,375
• Travel for initial training: $740 to $3,600
• Fees: $16,320 – $38,335
• Licenses and permits: $829 to $43,865
• Storage requirements: $12,366 – $16,135
• Printing, stationery and office supplies: 976 to 2,145 US dollars
• Additional funds (3 months): $107,056 – $199,809

What is the franchise fee for MRCOOL?

The franchise fee is $50,000. Franchisees must also pay a royalty fee (1% of previous gross monthly sales, but waived in the first year after completing training), a brand development fee (0.75% of gross monthly sales), and a local marketing fee (2% of gross monthly sales).

Who is part of the MRCOOL leadership team?

What helpful articles can I read to learn more about MRCOOL?

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