Solar power Franchise
In 2007, after a long period as a Quiznos franchisee into the Bay region, Joe Bono believed returning to their center college technology class. He remembered researching satellites and exactly how these were entirely powered by solar panels. It appeared inescapable that by the time he was raised, everything would-be running on the sun.
"it absolutely was twenty years later, and I recognized solar had barely penetrated the marketplace, " Bono states. Yet less expensive solar power panels, taxation credits and a push for energy saving had primed industry. All of that ended up being needed was a trusted service provider to obtain the panels on garage roofs around the world. So in 2008, after selling his sandwich shops, Bono established Solar Universe, a solar panel set up team headquartered in Livermore, Calif.
Franchisees help their customers function with the maze of state and national rebates and taxation credits, along with utility company regulations, before erecting a solar range on the roof. For many clients, a 5-kilowatt system is big enough maintain the online world and also the microwave oven humming and often pays for itself in about eight many years. In 2011, the organization is exposing solar thermal for hot-water heating, and energy savings consulting. It's already launched the BriteLease rental system, allowing more people to capture rays.
Solar Universe's 24 franchises are rotating electric meters backward in Ca, Illinois, Arizona, Nevada, Pennsylvania, Maryland, Louisiana and nj-new jersey, and Bono thinks they can double his units because of the end of the year. A $7-million money infusion by RockPort Capital Partners earlier on this season has additionally juiced the company. We talked with Bono about their sky-high programs for Solar Universe.
How performed owning sandwich stores manipulate your solar biz?
Quiznos taught me by using franchising, it is possible to run things because effectively as a Swiss bank even minus the greatest degrees of skill. There's a built-in system of checks and balances inherent when you look at the design. If you follow the system, it really works. I became capable use that exact same formatted system to solar and grow faster with better solution, safety, high quality and consistency. Our distribution system gets the advantages that come from being a big firm, but preserves the entrepreneurial character of our franchisees.
You never consider your self as a franchise. The Reason Why?
I call our business design a network partnership. Our royalties are little, around 3 per cent. We take an extremely hands-on approach. Many franchises appear to help with the shop opening, then chances are you're by yourself. We stay static in contact every week. You can expect an educational show, a competition series, product sales drives and promotions. There's lots of mutually beneficial give-and-take that is ingrained within team model, which makes it more of a partnership.
If the income tax breaks go away, will solar still be inexpensive?
We are always worried about public policy and just how it pushes motivation markets. But there are some things on the market baked into the income tax code lasting that may get us to in which you want to be. There's a 30 per cent taxation credit enduring through 2016, which will provide solar power sufficient ramp-up time to achieve grid parity, meaning purchasing energy from your own roofing costs the same as buying from a utility. The cost of gear is coming down significantly. Solar will undoubtedly be financially viable with or without subsidies.
Additionally satisfying: Making sandwiches or making power?
We talk about the "hug factor" in solar. Frequently we get hugs after an installation or when a customer sees their energy costs zero out. I worked in computer software and restaurants, and I did not get handled quite as much.