I Liked It So Much, I Bought The Company

In 1979, a man named Victor Kiam liked his Remington shaver so much, he bought the company. After all, it shaved as close as a blade or your money back. That became a signature advertising line, and launched a memorable string of commercials that Kiam would do for many years to come. But the business lesson here goes so much deeper. It’s one thing to invest in a good electric razor. It’s entirely different to spend a mountain of money and assume control of the company. 

Some businesses are too attractive just to be a customer

Today you can find a lot of Victors out in the world who have had such a remarkable customer experience with a product or service that they made one of the boldest decisions in life. They bought the business. Franchising is a perfect backdrop for these kinds of success stories. There’s the guy who loved the hamburger so much that he had to open his own restaurant. Or perhaps the hard-working woman loved her exercises classes so much, she decided to open her own fitness studio.

These are the ultimate endorsements for a product or service from a customer. Happy customers often turn into even happier franchise owners. In return, great franchise systems flourish in locations, influence, brand awareness and customer loyalty too. 

On a higher level, the same thing can be said for complimentary businesses when an entire franchise system acquires a like-minded franchise system to grow them both. Today is such a day, as Restoration 1 has acquired bluefrog Plumbing + Drain. With my own background and track record for growing several franchise brands to national and international scale across different industries, I am always looking for businesses that can serve and create happy customers. 

We’ve been doing that at breakneck speed at Restoration 1 across 140 locations open and in development serving customers in their most dire time of need - handling water, fire, smoke and mold damage in their homes and businesses. Doing what we do well across an award-winning franchise network, Restoration 1 franchise owners also cross paths with a lot of plumbers. Referrals work both ways in the industry. And setting the bar high for the Restoration 1 brand means looking for those complimentary businesses that also deliver a great customer experience.

That’s how bluefrog Plumbing + Drain came to my attention. With a strong franchise system to run the business and great branding for its franchisees, the important assets are in place to grow a solid business to national prominence. And in the short time that our leadership team has grown Restoration 1 to 140 locations, we plan to do the same for the size and influence of bluefrog Plumbing + Drain. 

Invest in companies that have longevity

Like Warren Buffett says, it’s good to invest with the long-term in mind. And these businesses provide services that customers will need for many, many years to come. Experienced and reliable plumbers are always in demand. And when a plumbing emergency happens, you need a true expert. The same is true for restoration. In the U.S. there are more than 170 commercial losses and 40 million residential losses. There is an ongoing and constant need for skilled, certified restoration specialists.

So consider me one more Victor in the world -- a happy investor alongside the many existing and future franchise owners who will invest in a Restoration 1 franchise or a bluefrog Plumbing + Drain franchise to be the boss, deliver happy customer experiences and make a lasting difference.