Franchise News Release: Waco, TX - (Aug-18-2003)


Dwyer Group Comments on Business Success, Americans' Renewed Affections for Homes, and 9/11 Anniversary (8/03)


As America prepares for another anniversary of the 9/11 tragedy, The Dwyer Group (NASDAQ:DWYR) is evaluating its continued boom in business growth during an overall down economy.

"Home is where the heart is," said Dina Dwyer-Owens, president and CEO of The Dwyer Group. "Americans have rediscovered their homes where they are spending more of their time and money than ever before."

That has translated into big demand for home trade services, where everything from remodeling and redecorating to service and repairs are high on customers' wish lists. The Dwyer Group has repeatedly posted quarterly profits as a result.

"People who used to save up for a summer vacation or to invest in the stock market are now putting those dollars back into their single largest asset, their home," Dwyer-Owens said. Airlines continue to post operating losses, and a summer of weak leisure travel has meant more time at home with the "to do" list.

Last year, Americans borrowed more than $200 billion in the form of home equity loans and invested the majority of those dollars back into their houses. Dwyer-Owens said it is a market that has been as favorable to home repairs as building or buying new.

For The Dwyer Group, it has not only meant increased revenues for franchisees but also increased sales of new franchises, which are opening on a regular basis. The company welcomed 42 new franchisees among its subsidiaries in the first six months of 2003, and growth is expected to continue. Those Franchise concepts include Mr. Rooter, Rainbow International, Mr. Electric, Mr. Appliance, Glass Doctor, Aire Serv Heating & Air Conditioning, and associate company DreamMaker Bath & Kitchen.

It's partially a result of the cocooning movement that has spread across the U.S., Dwyer-Owens said. With homeownership at an all-time high and record-low home financing rates, the demand for home services is hot.

"Our customers may have postponed Disney World this year in order to remodel the kitchen, purchase that new air conditioner or afford energy efficient windows," Dwyer-Owens said. "Meanwhile, our franchisees are handling a record number of calls and our new-owner training classes remain busy." The trend has helped raise the national brand awareness of each Dwyer Group franchise subsidiary. Dwyer-Owens said the best outcome for the parent company has been helping franchisees realize individual success while also helping customers achieve the home of their dreams.

About The Dwyer Group:
The Dwyer Group Inc., based in Waco, Texas, is a public holding company that owns six franchisor corporations. Each corporation sells and supports a different service-based brand name franchise under the following service marks: Aire Serv® Heating & Air Conditioning, Glass Doctor®, Mr. Appliance®, Mr. Electric®, Mr. Rooter® (Drain Doctor® in the UK), and Rainbow International® Carpet Care and Restoration Specialist. The Dwyer Group is also affiliated with another franchisor corporation named DreamMaker Bath & Kitchen by Worldwide® (an associate company). Collectively, the franchisees of these franchise concepts offer customers a broad base of residential and commercial services. The concepts currently support approximately 900 franchisees in the United States and Canada and, through their master licensees, nearly 400 more franchisees in 21 other countries.




 






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