Neighborly's Record-Breaking Year: A Testament to Growth and Innovation

As Neighborly continues to redefine the landscape of home services, 2023 stood out as a landmark year marked by unprecedented achievements and strategic advancements. Underpinning these successes is a resounding testament to Neighborly's unwavering commitment to excellence, innovation, and expansion. And we’ve only just begun.

Surpassing the $4 billion milestone in systemwide sales and boasting a global network of more than 5,500 franchises, Neighborly continues to solidify its position as the world's largest home services company. This remarkable feat, announced at the annual International Franchise Association (IFA) convention, underscores not only our financial prowess, but also the profound impact we’ve made in the industry.

In 2023, we achieved a historic year in private equity activity. The influx of investments from leading private equity firms not only validates Neighborly's strategic vision but also underscores its status as a coveted investment opportunity.

Among the notable private equity transactions in 2023, partnerships with esteemed firms such as Eagle Merchant Partners, CPC, Franchise Equity Partners (FEP), SBJ Capital, and Main Post Partners stand out as transformative milestones. These investments, totaling over $400 million, reflect the immense growth potential within the residential services market and reaffirm the strength and allure of Neighborly's diverse portfolio of brands.

However, Neighborly's success extends far beyond financial metrics. Throughout 2023, we achieved remarkable milestones and spearheaded initiatives aimed at enhancing customer experiences, fostering community engagement, and empowering franchise owners.

The launch of version 2.0 of the Neighborly App exemplifies our commitment to innovation and customer-centricity. By providing customers with a seamless and personalized experience, the app not only simplifies service discovery and scheduling, but also facilitates cross-branding opportunities, driving lead generation and revenue growth.

Neighborly's steadfast dedication to supporting the Veteran community underscores our passion to help those who have served our country launch successful businesses upon their return to civilian life. Through strategic partnerships and localized engagement efforts, Neighborly has strengthened its ties with Veterans, providing them with opportunities for entrepreneurship and career advancement.

Furthermore, Neighborly's industry recognition and accolades serve as a testament to its unwavering commitment to excellence. With 18 brands featured in the Entrepreneur Franchise 500 rankings, including six brands ranked #1 in their respective categories, Neighborly continues to set the standard for franchise excellence and innovation.

While 2023 was marked by unprecedented achievements and milestones, it is essential to acknowledge the profound impact of the late CEO, Mike Bidwell. His visionary leadership, passion for excellence, and unwavering dedication continue to inspire Neighborly's journey, guiding us as we embark on the next chapter of growth and innovation.

As we’ve already hit the ground running in 2024, our focus remains on being committed to expansion, innovation, and community engagement. By leveraging our unparalleled network of skilled franchise owners, embracing emerging technologies, and nurturing strategic partnerships, Neighborly is committed to delivering a frictionless experience for our customers and their home service needs.

For more information about Neighborly and its diverse portfolio of service brands, please visit www.neighborlybrands.com.

Written By Jon Shell, Interim CEO, Neighborly on LinkedIn