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                                                                   EXHIBIT 10.50

                             THE DWYER GROUP, INC.
                             1997 STOCK OPTION PLAN


                                  INTRODUCTION


On December 23, 1997, the Board of Directors of The Dwyer Group, Inc., a
Delaware corporation (the "Company"), adopted the following Stock Option Plan:

         1.      PURPOSE:  The purpose of the Plan is to provide Employees of
the Company or its Subsidiaries with a proprietary interest in the Company
through the granting of Incentive Options and Nonqualified Options which will:

         (a)     increase the interest of the Employees in the Company's
                 welfare;

         (b)     furnish an incentive to the Employees to continue their
                 services for the Company; and

         (c)     provide a means through which the Company and its Subsidiaries
                 may attract able persons to enter its or their employ.

         2.      ADMINISTRATION:  The Plan shall be administered by the
Committee.

         3.      PARTICIPANTS:  The Committee shall, from time to time, select
the particular Employees of the Company and its Subsidiaries to whom options
are to be granted, and who will, upon such grant, become participants in the
Plan.  The individuals eligible for selection by the Committee shall be those
Employees whose performance and responsibilities are determined by the
Committee to be influential to the success of the Company and its Subsidiaries.

         4.      STOCK OWNERSHIP LIMITATION:  No Incentive Option may be
granted to an Employee who owns more that 10% of the voting power of all
classes of stock of the Company or its Parent or Subsidiaries.  This limitation
will not apply if the option price is at least 110% of the fair market value of
the stock at the time the Incentive Option is granted and the Incentive Option
is not exercisable more than five years from the date it is granted.



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         5.      SHARES SUBJECT TO PLAN:  Options may not be granted pursuant
to the terms of the Plan for more than 700,000 shares of Common Stock of the
Company, but this number shall be adjusted to reflect, if deemed appropriate by
the Committee, any stock dividend, stock split, share combination,
recapitalization or the like, of or by the Company.  Shares to be optioned and
sold may be made available from either authorized but unissued Common Stock or
Common Stock held by the Company in its treasury.  Shares that by reason of the
expiration of an option or otherwise are no longer subject to purchase pursuant
to an option granted under the Plan may be reoffered under the Plan.

         6.      LIMITATION ON AMOUNT:  To the extent that the aggregate fair
market value of stock with respect to which incentive stock options are
exercisable for the 1st time by any individual during any calendar year exceeds
$100,000 such options shall be treated as options which are not incentive stock
options.  This paragraph shall be applied by taking options into account in the
order in which they were granted.

         7.      ALLOTMENT OF SHARES:  Grants of options under the Plan shall
be as described in this Section 7 of the Plan, provided that the grant of an
option shall not be deemed either to entitle the Employee to, or to disqualify
the Employee from, participation in any other grant of options under the Plan.

         (a)     The Committee shall determine the number of shares of Common
                 Stock to be offered from time to time by grant of options to
                 Employees of the Company or its Subsidiaries.

         (b)     Any option granted to a person required to report under
                 Section 16(a) of the Securities Exchange Act of 1934, as
                 amended, must also be approved by the Board in order to be
                 effective.

         8.      GRANT OF OPTIONS:  The Committee and the Board are authorized
to grant both Incentive Options and Nonqualified Options under the Plan.
Incentive Options may only be granted to employees within the meaning of
Section 422 of the Internal Revenue Code.  The grant of options shall be
evidenced by stock option agreements containing such terms and provisions as
are approved by the Committee but not inconsistent with the Plan,





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including provisions that may be necessary to assure that any option that is
intended to be an Incentive Option will comply with Section 422 of the Internal
Revenue Code.  Stock option agreements may provide that an option holder may
request approval from the Committee to exercise an option or a portion thereof
by tendering shares of Common Stock of the Company at the fair market value per
share on the date of exercise in lieu of cash payment of the exercise price.
Moreover, stock option agreements for Nonqualified Options may provide that the
option holder may request approval from the Committee to pay any withholding
associated with the Nonqualified Option by tendering shares of Common Stock of
the Company at the fair market value per share on the date of the exercise.  An
option agreement may provide, if the Committee so determines, that upon
exercise of the option the Committee may elect to pay, in lieu of receipt from
the option holder of the exercise price and issuance of certificates for the
shares of stock exercise, an amount equal to the excess of the fair market
value per share on the date of exercise over the per share exercise price under
the option, multiplied by the number of shares covered by the option or portion
thereof being exercised ("Stock Appreciation").  Any such option agreement may
provide that the Stock Appreciation shall be paid to the option holder either
in cash or in Common Stock or in cash and Common Stock (based on the fair
market value of such stock on the date of the exercise by the option holder).
The method of payment shall be determined by the Committee in its sole
discretion.  The option to purchase shares shall terminate with respect to the
number of shares for which the stock Appreciation is paid.  The Company shall
execute stock option agreements upon instructions from the Committee.  The Plan
shall be submitted to the Company's stockholders for approval.  The Committee
and the Board may grant options under the Plan prior to the time of stockholder
approval, which options will be effective when granted, but if for any reason
the stockholders of the Company do not approve the Plan prior to one year from
the date of adoption of the Plan by the Board, all options granted under the
Plan will be terminated and of no effect, and no option by be exercised in
whole or in part prior to such stockholder approval.

         9.      OPTION PRICE.  The option price for an Incentive Option shall
not be less than 100% of the fair market value per share of the Common Stock on
the date the option is granted.  For any Incentive Option, the Committee shall
determine the fair market value of the Common Stock on the date of grant and
shall set forth the determination in its minutes, using any reasonable
valuation method.




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         10.     OPTION PERIOD.  The Option Period will begin on the date the
option is granted which will be the date the Committee authorizes the option
unless the Committee specifies a later date.  No option may terminate later
than ten years from the date the option is granted.  The Committee may provide
for the exercise of options in installments and upon such terms, conditions and
restrictions as it may determine.  The Committee may provide for termination of
any option in the case of termination of employment.

         11.     RIGHTS IN EVENT OF DEATH OR DISABILITY.  If a participant dies
or becomes disabled [within the meaning of Section 22(e)(3) of the Internal
Revenue Code] prior to termination of his right to exercise an option in
accordance with the provisions of his stock option agreement without having
totally exercised the option, the option agreement may provide that it may be
exercised, to the extent of the shares with respect to which the option could
have been exercised by the participant on the date of the participant's death
or disability, (i) in the case of death, by the participant's estate or by the
person who acquired the right to exercise the option by bequest or inheritance
or by reason of the death of the participant, or (ii) in the case of
disability, by the participant or his personal representative, provided the
option is exercised prior to the date of its expiration or one (1) year from
the date of the participant's death or disability, whichever first occurs.  The
date of disability of a participant shall be determined by the Committee.

         12.     PAYMENT.  Unless cash is paid to the participant upon exercise
of the option, full payment for shares purchased shall be made in cash or by
check or, if allowed by the stock option agreement and approved by the
Committee, by tendering shares of Common Stock at the fair market value per
share at the time of exercise.  Likewise, any withholding associated with a
Nonqualified Option may, if allowed by the stock option agreement and approved
by the Committee, be paid by tendering shares of Common Stock at the fair
market value per share at the time of exercise.  No shares may be issued until
full payment of the purchase price therefor has been made, and a participant
will have none of the rights of a stockholder until shares are issued to him.

         13.     EXERCISE OF OPTION.  Options granted under the Plan may be
exercised during the Option Period, at such times, in such amounts, in
accordance with such terms and subject to such restrictions as are set forth
below.  In no event may an option be exercised or shares be issued pursuant to
an option if any requisite action, approval or consent of any





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governmental authority of any kind having jurisdiction over the exercise of
options shall not have been taken or secured.  If the option agreement does not
contain Stock Appreciation provisions, the Committee may offer an option
holder, upon such conditions and restrictions as it deems advisable and in lieu
of receipt from him of the exercise price and issuance of certificates for the
shares of stock exercised, the right to elect to receive payment in cash,
Common Stock, or a combination of cash and Common Stock, as the Committee shall
determine, in an amount equal to the Stock Appreciation.

         14.     CAPITAL ADJUSTMENTS AND REORGANIZATIONS.  The number of shares
of Common Stock covered by each outstanding option granted under the Plan and
the option price shall be adjusted to reflect, as deemed appropriate by the
Committee, any stock dividend, stock split, share combination, exchange of
shares, recapitalization, merger, consolidation, separation, reorganization,
liquidation or the like, of or by the Company.

         Stock option agreements may provide, upon such terms and conditions
determined by the Committee, that in certain events, including sales of all or
substantially all of the assets of the Company, mergers, consolidations or
other corporate reorganizations, or changes in control of the Company, that the
exercisability of options evidenced by such stock option agreements are
accelerated effective twenty (20) calendar days before the date of the
applicable transaction and thereby the options become fully vested.

         15.     NON-ASSIGNABILITY.  Options may not be transferred other than
by will or by the laws of descent and distribution.  During a participant's
lifetime, options granted to a participant may be exercised only by the
participant or as provided in section 11 hereof.

         16.     INTERPRETATION.  The Committee shall interpret the Plan and
shall prescribe such rules and regulations in connection with the operation of
the Plan at it determines to be advisable for the administration of the Plan.
The Committee may rescind and amend its rules and regulations.

         17.     AMENDMENT OR DISCONTINUANCE.  The Plan may be amended or
discontinued by the Board without the approval of the stockholders of the
Company, except that any amendment that would (1) materially increase the
number of securities that may be





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issued under the Plan, or (2) materially modify the requirements of eligibility
for participation in the Plan must be approved by the stockholders of the
Company.

         18.     EFFECT OF PLAN.  Neither the adoption of the Plan nor any
action of the Board or the Committee shall be deemed to give any Employee any
right to be granted an option to purchase Common Stock of the Company or any
other rights except as may be evidenced by the stock option agreement, or any
amendment thereto, duly authorized by the Committee and executed on behalf of
the Company and then only to the extent and on the terms and conditions
expressly set forth therein.

         19.     TERM.  Unless sooner terminated by action of the Board, this
Plan will terminate on December 22, 2007.  The Committee may not grant options
under the Plan after that date, but options granted before that date will
continue to be effective in accordance with their terms.

         20.     DEFINITIONS.  For the purpose of this Plan, unless the context
requires otherwise, the following terms shall have the meanings indicated:

                 (a)      "Board" means the Board of Directors of the Company.

                 (b)      "Committee" means the committee or committees of the
                          Board appointed by the Board to administer the Plan,
                          or in the absence of such a committee, shall mean the
                          entire Board.

                 (c)      "Common Stock" means the Common Stock which the
                          Company is currently authorized to issue or may in
                          the future be authorized to issue (as long as the
                          common stock varies from that currently authorized,
                          if at all, only in amount of par value).

                 (d)      "Company" means The Dwyer Group, Inc., a Delaware
                          corporation.

                 (e)      "Employee" means any employee, officer, director,
                          consultant or advisor, provided that bona fide
                          services shall be rendered by consultants or advisors
                          and such services must not be in connection with the
                          offer or sale of securities in a capital-raising
                          transaction.

                 (f)      "Internal Revenue Code" means the Internal Revenue
                          Code of 1986, as amended.

                 (g)      "Incentive Option" means an option granted under the
                          Plan which meets the requirements of Section 422 of
                          the Internal Revenue Code.





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                 (h)      "Nonqualified Option" means an option granted under
                          the Plan which is not intended to be an Incentive
                          Option.

                 (i)      "Option Period" means the period during which an
                          option may be exercised.

                 (j)      "Parent" means any corporation in an unbroken chain
                          of corporations ending with the Company if, at the
                          time of granting of the option, each of the
                          corporations other than the Company owns stock
                          possessing 50% or more of the total combined voting
                          power of all classes of stock in one of the other
                          corporations in the chain.

                 (k)      "Plan" means this Stock Option Plan, amended from
                          time to time.

                 (l)      "Subsidiary" means any corporation in an unbroken
                          chain of corporations beginning with the Company if,
                          at the time of the granting of the option, each of
                          the corporations other than the last corporation in
                          the unbroken chain owns stock possessing 50% or more
                          of the total combined voting power of all classes of
                          stock in one of the other corporations in the chain,
                          and "Subsidiaries" means more than one of any such
                          corporations.





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