How Much Does It Cost to start a Home Service Franchise
The home service industry includes a wide range of sectors, like lawn and pool maintenance, senior age care, insolation, cleaning, solar installation, repair works. The list goes on. Home services franchises are regarded as profitable and exciting ventures that allow entrepreneurs to open their own business while getting numerous opportunities for growth. Mainly franchises specializing in home services focus on residential properties and offices.
In today’s world, everyone is busy, and people don’t always have time for home maintenance. That is where home service businesses come in handy. Instead of taking care of their properties themselves people turn to professionals that quickly and qualitatively perform necessary service. It gives customers time to concentrate on their career or family.
Overall, the initial investment estimated for opening a home service franchise differs. There are accessible franchised units for under $5,000-$10,000 in cost, and numerous options that range from $30,000 to hundreds of dollars.
How to start a Home Service franchise
Nowadays, business possibilities are numerous. Entrepreneurs have an easier time to set up a home service enterprise. Investors have an opportunity to explore franchise offers presented on our portal and select the one that interests them the most. Learn all you can about the offer, and contact us if you have any questions. Typically, you will have to talk to the brand representatives or the franchisor himself to figure out whether you are a good fit for each other. Further, there is the FDD that you have to study and sign. It is recommended to show the document to lawyers, so you are sure that everything is credible. After that, the ownership path begins. Construction, purchases of necessary equipment and supplies, recruitment of staff are required.
All brands may require different processes of acquiring a home service franchise, but basic steps were mentioned above.
Fees and taxes
There are typically certain one-time and ongoing fees that prospective franchisees have to cover. Usually, it is a lump-sum fee that starts at $10,000, and a royalty fee of 4-8% and an advertising fee of 1-6%.
Trends and facts about Home Service franchises in 2023
- The home service industry segments consist of plumbing, concrete, older care, lawn maintenance, cleaning, roofing, moving, storage, and so on. So, there are various aspects and areas of home maintenance involved in the industry. You can select a franchise from any category of your interest.
- Earlier, home services were a luxury. However, today they have become a necessity. It is easier and less time-consuming for people to hire professionals to do the job rather than doing it themselves. Besides, most home services are rather affordable, so outsourcing home maintenance tasks has become a routine thing for most people.
- Digital technologies and mobile apps have made it easier and more convenient for customers to find the right providers of home services and book appointments. The industry of home services has flourished thanks to these online tools.
- There is no necessity for entrepreneurs to have hands-on experience in residential services. It is more important to have good management and leadership skills, so partners can easily assemble a team of hired help and manage it, while taking care of daily business operations.
- A home service franchise can be a main source of income as well as additional one. With a semi-absentee and absentee ownership it is possible to maintain work/life balance. Besides, there are seasonal home service franchises if you’re looking for a part-time business opportunity.
- Pets have always been a huge part of people's lives, and it is not surprising that people are ready to spend money on accommodation for their furry friends. Installation of doors and doghouses, yard fencing are just some of the services that homeowners require today.
Home Service & Repair Franchises articles and ratings
Testimonials
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