We had an interesting chat with Mr. “Jack Hanks “, CEO of the Arizona – USA based start-up “Restore 24-7″
Below is the interview we conducted with him:
1. What is it exactly that you do and what your start-up is all about?
We are a full service restoration franchise company looking to grow our brand and franchise locations. We provide emergency services, restoration, property management, property preservation, and home warranty.
2. When has your startup been founded? And what stage is your startup currently at?
May 2014. And we open and thriving with 4 franchise locations and 5 corporate locations. We past the startup stage and have moved into the development stage.
3. What is your startup’s business model and how does it work?
Our business model was created on the 30 years of construction restoration and franchise experience. We took this knowledge and created a proficient working business model.
4. How did your team meet? And who in your team does what?
Jack Hanks- the CEO, manages the corporate operations. Melanie Strachan- VP of Marketing and Network Development- manages the marketing and client/vendor relations nationwide. Scott Drzonsc- National Restoration Sales Director- manages the sales team and sales efforts nationwide. Bill Kelty- National Director of Emergency Services- handles all training and startup on the insurance restoration side of the business.
5. What, exactly, makes you different from existing options, what will make your product and/or service stand out in the marketplace? In other words what’s unique about you and what’s new about what you make?
Our franchise model is different than those within our same marketplace. We operate in 6 segments of the construction business instead of only 1-2 like our competitors. We also only cities to 1 franchise owner, compared to competitors who will sell a city to as many people as they want- this creates a better working franchise model as the company works as a team instead of competing within the company.
6. What is your growth like? And what milestones has your startup achieved so far?
Our growth has been very fast. In the past 8 months we have sold 4 franchise locations, with 4 more in the pipeline. Our goal is to sell one franchise a month.
7. Who are your competitors? And what is your start-up’s competitive advantage over them?
Our competitors are other restoration and emergency service franchises. We are younger, more diverse, and more hands on than most in our same marketplace.
8. What obstacles did you face and how did you overcome them?
Financial constraints in the beginning had to be overcome. We worked had to establish ourselves and work hard to overcome this. The long hours paid off in the end however.
9. What are the key things about your field that outsiders don’t understand?
Our business thrives even in a down economy. We are basically recession proof. There will always be fires, floods, storms, etc. We are able to continue working 24-7, 365 days a year.
10. Why are you going to succeed?
We have built a very strong leadership team that is 100% committed to ensuring all of our franchises receive 24-7 support to promote success. We are all driven and very excited about the future.
11. If your startup succeeds, what additional areas might you be able to expand into?
We are able to expand locations nationwide. We are also able to expand the types of construction as an option. Roofing, electrical specific jobs, etc.
12. Why did you choose this idea and concept to build your start-up based on?
The Restore 24-7 leadership team all come from diverse backgrounds within the construction field. We took our education and backgrounds and built a company based on these principles.
13. What have you learned so far from launching your idea?
We have learned that a strong dedicated team makes all the difference in success. Also that hard work and perseverance always seems to pay off. And starting up a company is harder than most people realize!
14. Six months from now, what’s going to be your biggest problem?
Finding enough qualified franchisees to add to our already successful system. Also, finding more dedicated employees who care as much as our management team.
15. What’s the benefit for the customer/user?
The main benefit for a franchisee would be buying into an established system that provides training and leads. We provide 24-7 support and dedication to our franchisees.
16. How did customers / users find out about you?
We use social media, lead generation, SEO and networking. We are currently on Twitter, Facebook, Linkedin, GooglePlus, and on lead generation sites to ramp up business.
17. Who are your current customers / users? Who are your target customers / users?
Small existing general contractors looking to expand their services into restoration and other areas of construction. Also people with a business sense who want to try a new venture.
18. Where do new customers / users come from and what makes new customers/users try you?
They come from word of mouth, social media, and general networking events. Tradeshow are a great source of meeting new franchisees and homeowners. Social media is a key to growing any company.
19. What do your customers / users say about your product and/or service?
They say it is a great system and cannot believe all the work they are provided with right off the bat. They love the hands on training that is provided from our corporate office.
20. How are you going to scale?
We are going to grow based on our clients needs. If our nationwide clients need us to add additional services, we will. This will only increase our franchisee’s success.
21. What’s the biggest missing feature? The one thing customers/users keep asking for?
We are currently developing our own software and our franchisees keep asking for this program. A centralized software program will help unify our training and communication.
22. Are you going to internationalize? And if yes how are you planning to expand your start-up’s operations accordingly?
No. We are going to stay within the US. Our Franchises are only going to be within the US to ensure our policy of being able to help hands-on if needed.
23. How big do you think you can get? Why? And how you are planning to achieve your goals?
We plan on having 90 locations within 5 years. This will be achieved through our marketing and networking efforts. We will continue to grow through our sales and marketing efforts nationwide.
24. Are you looking to hire a new workforce? And if yes, what job vacancies do you currently offer and where can potential applicants contact you at?
We will continue to hire as needed within the sales, marketing, IT, and accounting segments of the business. Our back end support team will grow as our number of franchise locations grow.
25. Are you looking for partnership opportunities or funding from Venture Capitals (VC) or other funding sources? Or your business is self-sustainable? And if the first option applies where can potential partners / investors contact you at?
We are always looking to grow through mutual relationships within the venture capital segment. Potential partners can contact use at email@example.com
26. What advice do you have for fresh entrepreneurs?
Starting a new venture is more challenging than most people think. The hours are long, the work is nonstop. It is not for the weak hearted. You have to be 100% dedicated to the task at hand.
27. Finally, do you have any other comments that you would like to add?
Owning a franchise is a great investment to become part of an already successful established business. It is alot of fun and a great learning experience.