The Advantages of Owning a Handyman Franchise
Many exciting reasons to participate in a handyman franchise business exist. One of the most sought after franchise concepts for a decade has been in the industry of home improvement. These franchise systems are planned specifically to take on common problems that need maintenance around the home.
The preceding facts can explain why the home improvement market is growing. If you’ve ever invested in a business or franchise in the past, you will find that a handyman franchise typically requires very little capital to get started. There is no cost of goods and on average a fixed location is not required to run the business.
As the owner of a handyman business, your duties focus on the retailing of services. There are two distinctive parts you can play as the owner of a handyman franchise. Before you can own your handyman franchise, you must decide whether you will run the business and do all the repair work as well, or whether you will hire employees to do the repair work. Many handyman franchises are looking for a person with a business background and not a handyman background. In some franchise systems like Home Task Handyman Services, you do all of the repair work while the franchisor runs the business. In other systems, like Mr. Handyman Franchise, your business is dispatching experienced technicians into your customers’ homes. So, if your current life situation doesn’t allow the time it takes to be on the road doing home repairs, you can hire a repairman to do the work and still be part of the home maintenance industry. Because of your expertise and through ownership of the franchise, you will still call the shots.
If you plan to focus on only managing the business while your technicians perform all of the repair work, you will need to know how to direct and motivate your employees to provide the service; this is where highly focused franchise training and support prevails. A franchise’s training and support system is one of the strongest benefits of being a franchise owner and why so many entrepreneurs are tempted to buy a franchise in the first place. Brand-name recognition, built through years of establishing a reputation, also plays an important part in the overall success of the business. The training and support you receive from your franchisor is prepared to maximize the earning potential of your business. After the training period is over, and when you open the doors to your business, the system must be followed accordingly.
Note, that if you come into this business with the skills and professional knowledge of a handyman, then you will have an advantage and the foundation for the successful operation of your handyman franchise. Nonetheless, professional handyman or construction knowledge is not a requirement to own a handyman franchise. When you evaluate different franchise companies, it’s a matter of which one offers the most effective system. That will be a determining factor in the success of your business.
Many businessmen become interested in franchises because of their flexibility. For instance, you may chose to provide your handyman services from your home, so there are handyman franchising opportunities that offer that flexibility. There are several franchise systems in existence that have been adapted to run a successful handyman business from home. In that sense, handyman franchises offer more flexibility than other franchise systems such as fast food franchises.
It is always in good practice to let a franchising attorney read over your contract before singing off on anything. Purchasing a franchise business may be one of the biggest investments you will ever make, so it’s crucial that a specialized franchising attorney reads over your contract to make sure you are getting the best possible deal.
Many people feel that the franchisors have the advantage on franchise negotiations. The franchisor has invested a significant amount of time and money to develop a system that is designed to earn all of its franchisees adequate financial returns, so you will not find much flexibility if you chose to negotiate a contract.
Finally, remember that one of the most important sources of valuable information when considering a franchise company will be the existing franchisees.
So what’s the bottom line on starting a handyman franchise? There is definitely a great financial potential in the handyman franchise industry. If you’re looking to escape from your daily grind of working for someone else and would like to start your own business, there is no doubt that a handyman franchise can turn your financial dreams into a reality.