Last week I attended a private franchise conference with 800 attendees! The biggest representation was in the category of HOME SERVICES.
These franchises are primarily maintenance and repair services which homeowners buy to keep up their largest single investment - the piece of real estate they call HOME.
I am a big fan of “STEADY EDDIE” BUSINESSES like these. Here are some things they have going for them:
Mostly essential services
Constant demand
Nice profit margins
Lower cost than retail
Fast ramp-up times
Huge customer base
Homeowners insurance covers storm damage
Realize that industry experience is NOT required. BUSINESS ACUMEN and BUSINESS SKILLS are NECESSARY.
Franchisors want franchisees who UNDERSTAND BUSINESS. Their training programs teach owners what they need to know about roofing or insulation or window replacement.
As a BUSINESS OWNER, your ROLE is not that of your technicians. The owner HIRES employees or SUBCONTRACTORS WHO REPAIR, PAINT, AND/OR INSTALL.