As the economy enters a full recovery after the challenges associated with the pandemic, many would-be entrepreneurs are considering new business opportunities as a way to achieve greater independence and an enhanced work-life balance. If the idea of owning your own home-based business sounds attractive, there are several aspects prospective franchisees should become familiar with to determine if a home services franchise is right for you. With this in mind, let’s walk through some of these considerations to see if you are ready to take the next step in your journey towards achieving a slice of the “American dream”.
First, what is a home services franchise?
In general, a home services franchise offers services to homeowners or renters, but they can also serve companies as well. A few examples include pest control, landscape companies, and cleaning service franchises. Concrete Craft®, a nationally branded expert in stamped concrete, resurfaced concrete, stained concrete, and concrete restoration, is another example of a home service-oriented franchise. Concrete Craft, is just one of several home service franchising brands under the Home Franchise Concepts®, (HFC) umbrella, a leading home service franchisor in North America, with more than 25 years of proven experience and an established track record of success.
Consider the company culture you’re looking for.
In the franchise world, culture can make the network stronger, while also contributing to the overall growth and success of a brand. Thus, it’s important to identify a shared sense of values and goals between yourself and the franchisor to help set the tone for long-term success. So, finding the right culture when selecting a franchise is paramount. You can learn more about a franchise’s culture by exploring their website, talking with franchise representatives, and by speaking with others who may already be established franchisees.
Try to establish a foundation of trust with the franchisor.
While this may sound obvious, mutual trust can be difficult to achieve in environments that are not transparent. Mutual respect is a key component in the franchisor and franchise owner relationship, and as a prospective franchisee, you should be able to trust that the franchisor has your best interest in mind. As with any relationship, it’s unrealistic to expect everything will be aligned at all times. However, as a franchise owner, you should feel comfortable that the franchisor has the right intentions and is always focused on continuous improvement of the franchise and brand. Look for caution signs from the onset of discussions. For prospective home service franchise owners, if you are not receiving clear answers or you feel something does not add up, pay attention to your intuition. For example, if a franchisor is not forthcoming with connecting you to its franchise owners for input, this is a clear indication it may be time to consider a different home services franchise opportunity.
Can you and the franchisor set clear expectations?
Franchisors should be clear with you about how much of your time and involvement is needed on a daily basis in order to be successful with the franchise. In this phase, it is wise to determine how your own personal work ethic and availability match up to the unique success drivers and requirements of the home services franchise you’re considering. It’s also critically important at the early stages of the conversation that you understand the details of your prospective franchise business model’s KPIs (Key Performance Indicators) to understand your role in the business.
Keep in mind, that in general, most franchise models require active involvement, especially early on. This is especially true with a home services franchise. This does not mean as a franchise owner that you can’t delegate, but it’s often not a “sign up and step away” business model. So be sure to review the franchise concept and business model carefully. Some home service franchises are more simple, others more complex. Understand how your skill set and/or work habits match up to the success drivers of that franchise. Will your skill set and ambitions propel you forward? Will your interests keep you stimulated in that business model for the long-term?
Look for the best match.
In many cases, the franchisor’s executive team are those that a franchise owner could be working with for years to come. So, it’s important to determine if your intangible skills and attributes are a good match. You’ll likely work with some team members more than others — you don’t have to be best friends, however you should look at the team as your business partners. Also, keep in mind that home services franchise ownership is a lot more than a financial arrangement. It is a pairing of like-minded individuals for a long-term business relationship.
As a way to help determine if a home services franchise is right for you, part of the exploratory process should include opportunities for you to meet the stakeholders- at all levels. Most successful franchisors offer to host a “Meet the Team Day”, also known as “Discovery Day”, at their headquarters to let a prospective candidate meet all company department heads and to obtain a more in-depth look at the brand and culture in the franchise discovery process. These meetings and conversations should happen before any final decisions are made.
For many, owning a home services franchise can be the next great chapter in their life.
With a resurging economy and the impressive growth in the home services industry, now is an ideal time to explore the exciting advantages that come with owning your own home-based, home services franchise. From offering the balance of a flexible work schedule, to establishing your path to a secure economic future, to creating a family legacy business, owning your own home services franchise can help you achieve both your short and long-term lifestyle objectives. Home Franchise Concepts® (HFC), the parent company to leading home service brands such as Concrete Craft®, AdvantaClean®, Budget Blinds®, Tailored Closet®, Kitchen Tune-Up®, and Bath Tune-Up®, includes immersive, hands-on training, seasoned executive leadership, and a passionate culture that allows franchisees to thrive. By partnering with Home Franchise Concepts you are provided with the support and backing of a dynamic, successful company that is highly regarded, and one that’s consistently ranked on Fortune Magazine’s “100 best companies to work for” list.
Call us today at 800-420-5374 or go online to Home Franchise Concepts and learn more about franchise ownership with a leading home service franchisor in North America. One of our franchise licensing advisors will be happy to answer any questions you have, and you’ll see why we like to say, “There’s no place like HFC™!”