Positive Q3 Results Propel Mosquito Joe Toward Accelerated Growth in 2019
Neighborly's Latest Acquisition Continues Expansion Initiatives
VIRGINIA BEACH, Va., Nov. 13, 2018 /PRNewswire-PRWeb/ -- Mosquito Joe, a Neighborly company, entered the final quarter of 2018 with strong upward momentum following its third quarter acquisition by Neighborly, one of the world's largest parent companies of home service brands. The acquisition gives Mosquito Joe access to Neighborly's existing suite of resources including its vendor platform, call center, cost savings and lead generation tools. By leveraging these services at the brand's 280-plus locations, Mosquito Joe has greater opportunity to expand on its already impressive growth in 2019.
The leading outdoor pest control company closed the third quarter boasting strong year-over-year revenue growth and reached a major milestone of servicing over 120,000 customers. Looking ahead at 2019, Mosquito Joe is already set to open over 40 new territories and will target prospective franchisees in Delaware, New Jersey, Connecticut and Massachusetts along the Eastern seaboard as well as Minnesota, Illinois and Wisconsin in the Midwest and Colorado, Utah and California in the west.
"With an increasing mosquito population and a growing concern for insect-borne illnesses, the demand for our service is high," said Mosquito Joe President Lou Schager. "We find ourselves in a very strong and strategic position as we prepare to grow our presence into untapped markets nationwide. The backing from Neighborly further strengthens our positioning, giving us the ability to work with the other 21 brands in its network."
To cross-promote these brands, Neighborly recently launched GetNeighborly.com that acts as a one-stop shop for homeowners looking for services such as landscapers, painters, electricians and plumbers. With Neighborly's mission to repair, maintain and enhance customers' homes, Mosquito Joe is a natural addition to the network. For Mosquito Joe franchisees, there is added visibility and a potential to increase new customer acquisition by partnering with the other brands.
"We hope that by further positioning our franchisees for growth, we will continue to see our revenue numbers increase in 2019," said Schager. "As we continue executing our plans to expand services to more communities throughout the nation and give more customers the chance to make outside fun again, having the support of the Neighborly family will be crucial. We're excited to see all that we're able to accomplish."
With an initial franchise fee of $35,000, Mosquito Joe has taken a proven, scalable concept to market with one of the lowest franchise fees in the industry, providing an attractive business opportunity in a growing segment with a high-gross margin. In 2018, Mosquito Joe was ranked as a Top Low-Cost Franchise by Franchise Business Review and earned the No. 9 spot on Entrepreneur Magazine's Best Franchise for Any Budget-Top 50 under $100,000.
The outdoor pest control franchise pulled in a number of other accolades in 2018. Mosquito Joe was named as a Top Franchise Leader by Franchise Business Review and as one of Franchise Times' Top 200+ franchises. Additionally, Mosquito Joe topped Entrepreneur Startup's Hottest Franchise Trends for 2018 in the pest control industry. Entrepreneur Magazine also recognized Mosquito Joe as No. 26 on its Top Franchises for Veterans list.
ABOUT MOSQUITO JOE
Dedicated to making outside fun again by eliminating mosquitoes, ticks and fleas from customer's yards, Mosquito Joe®, a Neighborly company, is a leader in the outdoor pest control industry. The brand was founded in 2010 and has since expanded to over 288 locations throughout the U.S. Acquired by Neighborly® in 2018, Mosquito Joe is part of a community of home service experts, leveraging Neighborly's nearly 3,500 professional home service experts across 14 brands in the U.S. and Canada with a unique direct service function that provides consumers assistance with nearly all aspects of their home care needs. Neighborly brands include: Aire Serv®, Five Star Painting®, Glass Doctor®, Portland Glass®, Molly Maid®, Mr. Appliance®, Mr. Electric®, Mr. Handyman®, Mr. Rooter®, Protect Painters®, Rainbow International®, Window Genie®, Mosquito Joe® and The Grounds Guys®. Additional information about Neighborly can be found at http://www.GetNeighborly.com. For more information about Mosquito Joe, visit http://www.MosquitoJoe.com and to learn about franchising opportunities at http://www.MosquitoJoeFranchise.com.
SOURCE Mosquito Joe
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