The home Improvement business is a good business to get into. Demand is steady and there’s a high profit margin on medium and large-scale jobs. But picking the right home improvement franchise for sale is tricky task.
Why Buy A Home Improvement Franchise For Sale?
Home improvement is a strong and stable business. No business is fully foolproof nor recession-proof, but home improvement is an incredibly resilient industry. The kitchen and bath industry alone is valued at over $130 billion. Kitchen remodel jobs rarely cost under $20,000 and routinely hit as high as $130,000 and higher. In March of 2020, home refinance applications increased by a remarkable 79%. When the pandemic first hit the U.S., home improvement businesses, like all businesses, struggled. But the latter half of 2020 has seen home improvement franchises rebound already. It’s a good business to be in.
But why is important to buy a home improvement franchise? Why not start your own home improvement business? While doing it alone might be a romantic notion, it would likely be unwise. Not everybody who is handy has business acumen and not everybody who has the skills to run a business has the skills to remodel a kitchen. By buying a home improvement franchise, you’re paying for somebody else’s knowledge and experience. Learn from those who have been successful in the home improvement industry. You’ll receive a template for a business plan, a brand name under which to operate, guidance, and connections.
What To Look For In A Home Improvement Franchise For Sale.
The key to examining the worth of a home improvement franchise is to compare it to a theoretical independent business. If you go at it alone, you’ll have no brand name recognition. If you buy a home improvement franchise from a franchisor who has only been around for three years, will you be getting a recognizable brand name? Probably not. Review the brands digital presence. Do they have a website, appear on Google, have popular social platforms like Facebook and Pinterest? The larger the digital ecosystem they have in place, likely the larger the brand recognition.
But a brand name isn’t everything. Maybe the franchisors all have experience in the industry and can teach you how to run a successful home improvement franchise. But if they haven’t worked in home improvement for many years and don’t have many successful home improvement franchises under their brand, then what can they really do for you?
Look For A Home Improvement Franchise For Sale That Comes With Connections.
A workman is only as good as his tools. You can buy any tools you want, but do you have access to the best cabinets and other products? Industry connections that can get you the best range of products at affordable prices are crucial. It can take years to establish these relationships with vendors when you start an independent home improvement business. Being part of a franchise system, these relationships and discounts are typically already established, so you can start taking advantage of the benefits on day one.
Kitchen Solvers Franchise Are For Sale.
We offer home improvement franchises for sale with all the benefits listed in this article. Contact us to learn more.
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