Looking for home services franchise opportunities? Before making a decision, look for these signs of high performance and profits.
Home Services is Booming
The home services industry is enjoying tremendous growth. According to Brandessence Market Research, the industry was valued at $798.10 billion and is projected to grow at a CAGR (compound annual growth rate) of 4.6% over the next several years. This varied industry has opportunities for entrepreneurs to be their own boss and build profitable businesses.
A home services franchise can be profitable, reliable, and enjoyable to own for many reasons, including:
- The industry is recession-resistant. Consumers always need services for their homes since carpets get shabby, appliances break, roofs need patching, and flooring needs replacing. It’s a business that’s never out of style.
- Home services can increase property value. New hardscaping and painting can create more curb appeal. New flooring is one of the best ways to increase a home’s value and appeal. Increased value makes the service you offer an easier sell to customers.
- As the owner of a home services business, you’ll help clients enhance their enjoyment of their homes by creating attractive, functional environments for living, entertaining, working, and learning. As people spend more time at home, making a home’s design pleasing and layout efficient is a valuable and satisfying way to spend your day at work.
- Consumers are savvier about design and interested in creating sophisticated homes thanks to decorating and remodeling shows like those found on HGTV. And with more time spent at home thanks to the pandemic, people have noticed what needs upgrading. New windows can give an older home a much-needed refresh, while hardwood floors and new tile can totally change the impression of a home’s interior.
How to Choose the Best Home Services Franchise
The home services industry is vast, including many segments like house cleaning, closet design, window treatments, painting, hardscaping, pool design, kitchen and bath design, and garage doors. How do you know which type of home services business to invest in? Here’s what to look for, and some things the best franchises have in common:
- Brand recognition: Investing in a brand with an established presence and reputation is key, especially in an industry so vast. Name-brand recognition means you don’t have to build an identity from scratch.
- Less competition: Find a franchise where you can grow with little competition. Entering a crowded market will make profitability more challenging. Choosing a unique business, like a mobile flooring showroom that brings products directly to consumers’ homes, will increase your chances for success.
- Review a company’s Franchise Disclosure Document (FDD): This is a legal document provided to all prospective franchisees with information about the franchisor, allowing a franchisee to make a well-informed decision about whether to enter an agreement with the franchisor.
- Understand the costs and find the right fit: There are often substantial costs when buying a franchise. Know what you’ll need for startup costs, what franchise fees are involved, and potential revenue. Some home service businesses require sizeable personal investment while others are more accessible. Mobile services are excellent examples of businesses within financial reach for more entrepreneurs.
- Listen to other franchisees: Are they happy? Thriving? Making money? Has their lifestyle improved? Can they prioritize what matters most to them? Do they feel supported by the franchisor? Is every day new and different? Satisfied franchisees are good indicators you’ll also enjoy your new business.
A Top Choice in the Home Services Industry
Floor Coverings International is the fastest growing flooring franchise in the industry. As a recession-resistant business with unlimited profit potential, Floor Coverings International offers a tremendous value proposition to franchise candidates. Choose from tons of available territories and help meet the growing demand for flooring in the U.S. and Canada.
With Floor Coverings International, realizing your dream of owning your own business and being your own boss shouldn’t break the bank. As one of the most affordable franchise opportunities in the home services sector, Floor Coverings International has lower costs and fees compared to other franchises in the industry, making business ownership accessible to a broader range of entrepreneurs.
Floor Coverings International’s family of franchisees run the gamut from those with business backgrounds in corporate America to couples seeking better work/life balance. They’ll tell you no two days are the same. In your mobile showroom filled with 3,000 flooring samples, you’ll be meeting with customers in their homes, building relationships while having fun and being creative.
Find out more about what Floor Coverings International has to offer you. Fill out a request information form today.