If you’re starting off a business yourself, especially if you have little prior experience with running a company, a franchise is often a good idea. The idea of paying royalties and an upfront investment to a parent company can, at first, seem like a bad deal.
However, there’s a reason that many successful business people choose this path. Did you know that 44% of businesses fail by their third year? When you join a franchise, you become part of a network that has a vested interest in making sure you succeed in the longterm. They don’t make a profit if you don’t. You also benefit from branding. It’s tough to build up a reputation for your business, and one bad experience can taint the local perception. Buying into a brand name gives you instant clout.
Home improvement franchise opportunities are a good choice if you do decide on franchising. Not only is a home remodeling business a company type less likely to fail, but it’s a kinder industry to those starting off in owning a business. You can easily make a comfortable living without having to pay for overhead expenses like rent, and you won’t need to manage 30 employees at the same time if you don’t want to.
What are your choices for home restoration franchises? Here are two top options.
- What to expect: Granite countertop installations require multiple levels of preparation. The counters need to be prepped to receive the granite, and the slabs will need to be cut correctly to fit, usually with diamond bladed circular saws.
- Advantages: This service is needed year round and is currently a popular choice for homeowners looking to upgrade their kitchen.
- Disadvantages: Many of the tools used for cutting will require extensive investment. Countertops are heavy yet can be brittle and must be handled with care.
- What to expect: Painting is more complex than you may have assumed. You’ll be asked to paint multiple surfaces, sometimes with different texturing tools. Work can involve many hours spent standing.
- Advantages: Relatively easy to learn the trade, and lower cost of capital usually needed to become a franchisee.
- Disadvantages: It’s a competitive market, and it can be difficult for older individuals to do this job if they experience back pain. The work itself can sometimes feel tedious.
Other Options Available
There are many successful types of home remodeling businesses out there. Other options include:
- Kitchen remodeling
- Home cleaning solutions
- Outdoor kitchen constructing
Are you interested in opening a home remodeling business? Let us know. Check out this site for more.