Waterway Franchise
Description:
Waterway is the nation's fastest growing provider of vital, annually required fire hose testing to America's Fire Departments. This is a low risk, recession-proof franchise opportunity.
Opportunities:
Franchises available throughout the US and Canada. Master licenses available in Canada.
Business Type:
Franchise.
Minimum Investment:
$70,000.
Financing Assistance:
Yes, through a third party.
Training Provided:
Yes.
Home-based:
Yes.
SBA-Approved:
Yes.
Waterway video podcast
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In this video podcast, Alasdair Ritchie and Troy Smith of Waterway recently joined Franchise Direct for a discussion about an innovative business concept: fire hose testing.
As Alasdair explains, “Waterway is a franchise in the business of testing fire hoses for fire departments. It is an NFPA requirement that fire hoses are tested every year.”
Although fire departments can provide this service themselves, “the reason they do not is that an outside company like Waterway can do it much cheaper, much quicker and take away all of the liability should anything go wrong, and particularly if you are ISO certified like we are, it has major ramifications for the insurance of the fire department.”
There are six simple reasons why Waterway constitutes an intrepid business investment.
“Number one,” Alasdair says, “it is a business with very little competition. Number two, it is a government mandate that hose testing is done by fire departments every year. Number three, it has a high profit margin. Number four, it is recession proof. Number five, it can be done from home. Number six, once you build your business over that first year, you retain your business and you build on it over the ensuing two, three, four years so that you eventually build a penetration of your area of up to 50 – 60%, which gives you a very tasty revenue.”
Entrepreneurs eyeing a worthwhile investment will take note of Alasdair’s ‘recession-prooft’ remark
As he says, Waterway is recession-resistant “because it’s cheaper to have it done by an outsourcing company that any other alternative” .
Alasdair also outlines the skill set required to be successful with Waterway. “He has to be able to manage a small business. He has to have some degree of computer skills because we have our test programmes put on computer software and he has to be something of a saleman, because he has to introduce this whole system and process to fire chiefs.
Troy Smith, a Waterway franchisee for the last four months, also tells Franchise Direct he is incredibly positive about his experience with Waterway.
“It is a phenomenal company to work with. We’re a family. It’s one of those franchises where you’re not a number. Everyone knows each other's name. Everyone knows a bit about each other. And we work together. It’s the perfect marriage.”
Your total costs with Waterway cover equipment, the franchise fee and a year’s insurance. Learn more about Waterway with Franchise Direct.
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