Skill sets required for Home Improvement Franchise
For a person interested in DIY and home improvement wouldn’t a home renovation franchise or home repair franchise be a dream come true. Imagine waking up and climbing in your truck after a leisurely breakfast and heading off to solve a problem that you have been chewing over all night. With home improvement franchise opportunities it is probably wise to have an interest in the industry or a passion for the business. Would you be just as happy renovating someone else’s home as you would your own? You will not have the same freedom of choice of course because they are paying the bills.
Another serious consideration with a franchise is the fact that you will be investing into a going concern. The reason home improvement franchise opportunities and franchises in general are so successful is because you follow in the footsteps of a tried and tested, proven business model that can be replicated. There is not much scope for going it alone as the franchisor has guidelines to follow and will train you in their methods for running a successful home service franchise. Once you have been trained in their back of house admin and invoicing methods, marketing and advertising campaigns you are more or less left to run your own franchise business with ongoing support if you need it. If you don’t think you can live with this way of owning your own business then franchising may not be for you.
Before you discount franchising though have a think about the following statistics. Eight out of ten franchises are still in business after five years whereas eight out of ten independent businesses are not. Quite a difference! For this reason banks are more likely to loan money to a franchise business. In the past two years, one in five new franchisees were under thirty years old when they started their new franchise business. A third of franchise businesses employ ten or more staff. So think big and this could be you!
Home Improvement Franchises – Good or Bad?
With home improvement business opportunities from project management, to appliance rentals, a chimney sweep, laying concrete or repair and restoration solutions there is a home service franchise to suit every skill set. The initial investment fee for home improvement business opportunities can range from anything between £10,000 for a cleaning or mowing type home service franchise and £100,000 for other home improvement franchise opportunities.
No matter what budget you have set aside for your home repair franchise or home renovation franchise or the skill sets and experience you have, it is advisable to prepare your business plan in advance. Any bank manager or franchisor is going to want to see how prepared and committed you are to the project. The interview with the franchisor will also give you both the opportunity to see if you are a fit for each other in terms of what you both have to offer. Did you know once you set up your home improvement franchise you could use a marketing franchise to assist you with promotion?
Why not take a moment right now to enter your details on the form at the top of the page and use the free service from Approved Franchises to compare pre-approved franchise companies all in one place. Use their no obligation expert advice guides to help you to make a wise investment decision. It will take less than a minute to take your search to the next level.