5 Things to Consider Before Investing in a Home Services Franchise

5 Things to Consider Before Investing in a Home Services Franchise

5 Things to Consider Before Investing in a Home Services Franchise

It you want to own your own business, but don't want to build it from the ground up, buying a home services franchise may be your ideal solution. If you invest in a good one, a successful business model will already be in place, you’ll receive lots of support, and there will likely be brand recognition, unless the franchise is relatively new. Determining if the franchise you are thinking of investing in is a good franchise and the right fit for you requires diligent research. Factors you should think about according to home services franchisees we spoke with include:

  1. Shared Values: A shared set of values and norms characterize a company’s culture. When you invest in a franchise, you are joining its culture. It’s important, therefore, to ensure your values align with that of any franchise you are considering joining. “After meeting in person with many people from Dwyer Group, which owns the Five Star Painting brand, it didn’t take long to realize that the values that I had been seeing posted everywhere in hallways etc. were lived and practiced on a daily basis by what seemed to me every team member I came across,” says Anthony Kulikowski, a Five Star Painting franchisee. “Coming from a small business background where customers are always first, this was a huge factor in my decision to invest in a Five Star Painting franchise because I knew my values and that of the franchisor were on the same level.”
  2. Matching Expectations: The longevity and success of your franchise business will depend to a large degree on you and your franchisor not disappointing each other. The best way to avoid doing so is to understand each of your expectations and ensure they align before going into business together. “Matching franchisee and franchisor expectations is critical from the very beginning,” says Saunda Kitchen, a Mr. Rooter Plumbing franchisee. “Nobody likes surprises.”
  3. Support: “My franchisor provides me with a franchise consultant who I meet with once a month and can also call anytime in between if I have a problem or need,” says Kulikowski. “In addition, I receive ongoing training, local and national marketing support, CRM support, and access to all of the other franchisees within the Five Start Painting System. Being able to speak with another business owner who is running a business just like mine and ask what did/didn’t work and learn from their experiences is very helpful.”
  4. Proven Systems:  Examples of a franchisor’s systems include marketing, customer service, training, and service delivery. “Your potential for success is maximized if a franchisor’s systems are solid,” says Kulikowski. “You can get your business running faster and more efficiently without the delays and costs developing systems on your own would entail.”
  5. Proven Record of Success: An established franchisor has spent many years cultivating a successful business model. You can find proof of the viability of its model in its Franchise Disclosure Document (FDD) and by speaking with its franchisees, who will share their experience with you. “Starting a business on my own is something I never considered since so many new businesses fail,” says Brad Simon, a Mosquito Joe franchisee. “The history from Mosquito Joe’s FDD enabled me to do fairly accurate projections regarding the best and worst case scenario and we were very impressed by its leadership. We also found it very helpful to speak with franchisees within the system.”

If you find a home services franchise that delivers on the factors above, you’re on your way to finding one that will enable you to achieve the success you envision. Taking the time to do the research necessary to find the ideal franchise certainly has benefitted Simon. “Owning a franchise helps to jump start success. I don’t know if we ever could have gotten to where we are today in just five years on our own.”

Published: September 24th, 2018

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