4 Reasons Home Improvement Franchises are Wise Investments
Home improvement franchises are some of the most popular choices among franchisees. Home improvement franchises offer several qualities that many other types of franchises don’t. Every prospective franchisee must find what’s right for them, of course. Nonetheless, home improvement franchises offer something for everybody.
1. Home Improvement Franchises Have A Low Barrier To Entry
Home improvement franchises are, usually, among some of the lower cost franchises available today. First, the franchising fees for home improvement franchises are usually very reasonable. Second, it doesn’t cost a lot of money to start up a home improvement franchise and get it going. This is largely because many home improvement franchises require very little overhead. Most home improvement franchises don’t require you to rent commercial property to set up a head office or retail store. This is huge because for many other businesses this would represent one of their biggest if not the biggest expenditure. Furthermore, many home improvement franchises require very little staff. In fact, some, such as a property inspector franchise or a home painting franchise, just require a vehicle, tools, and you yourself as your only employee.
2. Home Improvement Franchises Cover A Wide Array Of Services
A home improvement franchise could provide one (or more) of any number of services. We have already listed home inspection and house painting, but that’s just the tip of the iceberg. A home improvement franchise focuses on residential buildings, but you could purchase a franchise that does more or less the same work but for commercial properties. Or you could purchase a home improvement franchise that capitalizes on a small but underserved market by offering a niche service, such as leather, plastic, and vinyl restoration.
3. Home Improvement Franchises Have A Big Advantage Over Independent Competitors
All franchises have advantages over independently owned and operated businesses in their sector. One benefit they all have is instant brand name recognition (if you buy the right franchise, that is). But this is especially true in the home improvement sphere. When welcoming somebody into your home to provide an important service, you want to be able to trust them. If you start off alone, nobody will know you from Adam. But with a successful and trusted brand name behind you, people will be much quicker to hire you.
4. Home Improvement Franchises Benefit From Repeat Business
Similarly, once you do a good job for somebody, they’re very likely to hire you again when they need such services in the future. Capitalizing on repeat business is very hard in many industries. But it comes naturally to home improvement franchises. If somebody likes the job you did when you cleaned their carpet, they’re probably going to hire you again next time they need a carpet cleaning.
Be The Boss
To learn more about your home improvement franchise options, please contact us.
Franchise: Flying High with a Solid “Train the Trainer” Program
Any franchise brand knows that training isn’t always a smooth flight. The lessons taught during training and ongoing support need to be passed along – via the franchisee and his or her managers – to employees of those independent businesses.
If the organization encourages a culture of hospitality and then engages employees and franchisees who have hospitality in their genes, the revised culture will emerge.
The Dreaded Personal Guaranty: Negotiating A Safer Route
A personal guaranty is a contract, obligating the guarantor (usually the business owners) to the same bligations of the franchisee (usually a business entity) under the franchise agreement.