For Honey Do Founder, Corporate Stores Lead to Product Rollout
A scene from the Franchise Times Finance & Growth Conference today, where more than 50 C-level executives presented their growth stories to lenders, multi-unit operators, financiers and more.
Brad Fluke, CEO and founder of The Honey Do Service, which sends general contractors to your house to take care of all homeowner needs, owns two corporate stores for two good reasons. “They pay me well and I enjoy the money,” he told the audience at the Franchise Times Finance & Growth Conference today. And he uses them to test new products before they’re rolled out to franchisees.
A few examples: A second year warranty, which about one-third of customers wish to buy to add on to the standard one year. “That’s pure profit,” he said.
Tom’s Toolbox, an on-the-spot proprietary estimating tool that was tested for a year and a half and rolled out about nine months ago. Operators can tell people exactly what it will cost to replace a toilet or fix a window, and it “works on their phone and prints from their truck,” Fluke said.
“Our guys are selling 60 to 65 percent of what they bump into. We like to be the last one in your house, because we know the four or five other people you called haven’t shown up,” or if they did they had to get back to the customer later to give an estimate.
And an internship program, which is helping the brand create its own managers. “We took a good employee, made them great, gave them something to look forward to after two years, when they would own their own branch. And now other franchise owners have rolled that out,” he said.
Honey Do began franchising in 2008, and now has 26 units represented by 12 storefronts, mostly in the Southeast. Four units opened in the first quarter of 2018, Fluke said. He’s targeting 71 communities in the Southeast that “are on our radar” for expansion.
The Franchise Times Finance & Growth Conference continues through noon Wednesday at the Mirage Hotel in Las Vegas.