3 Benefits of Owning a Non-Brick-and-Mortar Service Brand
The world of franchising is vast – and for those looking to buy into a brand, regardless of segment or industry – a variety of factors go into making the right decision.
Investing in a franchise can save valuable time and money you’d otherwise spend trying to build an entire business from scratch. When you purchase a franchise you receive access to a proven business model, a built-in support team, training programs, marketing campaigns, and much more.
Service-driven brands contribute to roughly 60% of the world’s economy each year. Generally speaking, these brands offer services to customers, clients, and partners, and business can be conducted without the requirement of an in-person storefront location. This reduces startup costs and makes the barrier to entry much more accessible.
Unlike a retail business, service brands don’t rely on customers walking into a brick-and-mortar location to purchase a product. Rather, they work directly with clients and customers in their location, providing services such as, in our case, remediation and restoration. Whether it’s a homeowner with a flooded basement who needs help, or a business that has been affected by hurricane damage, we’ve created a business model where our franchise owners can be part of a company that immediately makes an impact in a local community.
Here are a three benefits of owning a service brand without a brick-and-mortar location.
1) Reduced cost of entry and a faster start
Brands like those within the cleaning, repair, and restoration segments have a huge advantage when it comes to starting up quickly, efficiently, and cost-effectively. Since work is primarily done at a customer’s location, many service franchisees don’t need to invest in a physical location at all. Instead, they can operate directly out of their home or a co-working location, which is becoming more and more popular these days. Especially in the early years of owning a business, this means huge potential savings up front, as there is no need to invest in an office; the ability to start up more quickly; and the elimination of rent as a line item in your budget. Launching a franchise typically costs less than starting your own business. Apart from the costs of actually getting your franchise started, monthly overhead can take up a large chunk of your revenue, slowing your ability to grow and slowing your path toward profitability.
2) Marketing and sales are as easy as word of mouth
After high-quality service, there’s little customers appreciate more than being treated well by the service providers they hire. For franchise owners able to connect with their customers and provide a service that’s as personal as it is professional, finding new business is as easy as word of mouth. By investing in a service franchise, you don’t have to compel people to come into your storefront location or office. Instead, you can focus more of your time on providing outstanding personal service to your existing customers, creating goodwill, and remarketing to encourage word-of-mouth referrals.
At PuroClean, our home office support and marketing departments have worked tirelessly (and won numerous awards) to perfect localized websites optimized for Google search using the keywords our customers search with when a crisis situation arises. Without a brick-and-mortar location, our online presence is a vital asset to streamline communication and effectively handle these tasks. Without the cost of real estate, your budget can now be more strategically invested in business growth, focusing on advertising and marketing to your network.
3) Your product is a necessity and, in many cases, recession-proof
Professional services fulfill customers’ needs, not their wants. While this obviously fuels your business, it’s also an opportunity to build a powerful personal reputation among your customers and those in your community.
By providing a service to your customers directly onsite, you can take advantage of the face time with clients and the opportunity to create lifelong customers who return to you for service time and again, all while promoting your business through high-trust, word-of-mouth promotions, no matter where you’re located. As the last year and a half has proven, a recession-proof business that provides essential services to customers is not only a solid investment, it is also possible without the need of a physical brick-and-mortar location.
Tim Courtney is Vice President of Franchise Development at PuroClean.
Share this Feature
Comments:comments powered by Disqus
- Multi-Unit Franchising
- Get Started in Franchising
- Open New Units
- Featured Franchise Stories