Many people spend their entire working lives dreaming of being their own boss. Being a small business owner gives you the ability to leverage your talents, create cash flow, build wealth and create the life you’ve always wanted. For many, however, starting a business is a daunting endeavor that requires an understanding of marketing, finance, distribution, sales, and more. It’s often a lack of knowledge or fear that prevents many from taking a chance to fulfill their dreams. One option to consider are home service franchises.
A franchise offers many benefits for ambitious individuals wanting to own their own business. First, a franchise provides a proven system, a defined brand, and a blueprint for success that is easily carried into new locations. Many offer training to help you get up to speed, proven marketing programs, purchasing power, and accounting assistance. Plus, while benefitting from an established brand and business model, franchisees can keep most of the profits, allowing them to build wealth.
The Growing Market for Home Service Franchises
Home Service Franchises are a growing segment in the industry as the market has shifted from the “do-it-yourself” model to the do-it-for-me model. The Big Box stores have long provided installation services for their products through smaller independent third-party contractors. This trend gave birth to the home service franchises segment where companies provide home repair, maintenance and improvement services with clients booking appointments online or via a toll-free number.
As the market is growing, bigger hardware store players have taken notice. On the hardware chain’s recent purchase of a smaller home services company has focused more attention on the home services, “do-it-for-me” segment.
The hardware chain purchased the home services franchisor that currently has over 50 franchisees. The company collectively employs approximately 250 handymen and women and is currently in 121 markets across 23 states. Under the terms of the agreement, the hardware chain will rebrand the home services company as a stand-alone subsidiary company.
The new company is currently rebranding with completion targeted for the first quarter of 2020. The home services franchisor is a proven system, and, combined with the hardware chain’s trusted brand and renowned excellent customer service, will result in a powerhouse franchise. For existing franchisees, the hardware chain is offering increased support as they gear up to aggressively recruit additional franchisees as a growth strategy.
As the home services space matures, larger online and store-based retailers are using services as a differentiator. For the current home services franchisees and future franchisees of the newly branded off-shoot, the relationship with the large hardware chain will give them the benefits of not only the original proven franchise system, but the marketing power and trust of an international brand.
The Benefits of Home Service Franchises
A franchise provides business owners with a defined blueprint for success. They allow franchisees to execute the system in their own local market. It also provides an established marketing plan, training and the opportunity to grow a business with the support of a parent corporation.
Home service franchises, and franchises in general, are a great option for people seeking to start a business. An estimated 90% of franchise operations are in business for more than 10 years. This is a much more favorable outcome than many other small businesses. As a franchise owner, you are using a proven system that is tested and has been proven over time. Partnering with franchise experts helps you overcome the challenges every business owner faces. It is this support that significantly reduces your risk of failure.
Great home services franchisors have developed successful systems, tools, and processes that have helped franchisees achieve profitability much quicker than retail franchises. In the case of the large hardware chain, it also attracted the attention of a larger corporation. This purchase will bring to the home services franchise system a greater potential pool of franchisees.
When you buy a franchise, you are essentially in business for yourself, but not by yourself. According to the US Department of Commerce, franchise businesses account for only 8% of business but generate over 40% of all service-related revenue.
Work with A Professional Franchise Coach You Can Trust: Work with Franchise Logic!
If you’re considering starting a business, investigate the options a franchise can offer you. At Franchise Logic, we work closely with people interested in owning a business. We take time to assess one’s goals, strengths, motivation for owning a business, and spending tolerance. In short, we help discover the franchise opportunities that offer the greatest chance for success.
Just like anything, not all franchises are created equal and no single franchise is the right fit for everyone. Working with Franchise Logic can help you save a tremendous amount of time and frustration. We help you avoid costly mistakes by guiding you through the franchise selection process.
At Franchise Logic, we have no sales role and we do not charge anything for our services. We are continuously in contact with the safest, fastest-growing, and most lucrative franchises in the industry today. We take pride in working with the top franchise organizations represented today.
If you are considering a franchise, let us share with you franchise opportunities that offer:
- Low Initial Investment
- High Profit Margins
- Rapid Break Even
These will boast a successful track record and offer excellent growth potential!
Franchise Logic offers a unique process based on proven methods to help entrepreneurs identify the right opportunity. We help clients conduct proper due diligence to find the franchise opportunities best representing their business ideals. Whether it’s home service franchises or one from many other industries, if you’re ready to start, contact us Careyann Golliver, America’s Franchise Matchmaker™ today to learn more about our no-cost consultation services.