The home services industry offers unique and exciting opportunities for both new and experienced business owners. With high demand and strong growth in the industry, there are plenty of great reasons to start a service-based business of your own. At the same time, however, starting a home services business from scratch can be a real challenge. There are many hidden dangers and pitfalls that can quickly derail a struggling startup. This is why for many business owners, buying a service-based franchise business is the best way to go. A good home services franchise can help you avoid making expensive mistakes or waste time trying to reinvent the wheel. Let’s take a closer look at the benefits of service-based franchises and why you should consider investing in a franchise opportunity in this fast-growing industry.
One of the best parts of owning a service-based business is that it gives you the ability to leverage the skills you already have while developing new ways of doing business to make a profit. At the same time, franchise owners at top franchises know that service-based businesses can also be personally fulfilling since you spend your working hours helping others. But starting your own business isn’t easy, and you need to know as much as you can about any business opportunity before jumping in. This is especially true because no two franchising models are alike, making careful research an essential part of the process.
Service Businesses vs Product-Based Businesses
There are some key differences between service-based businesses and product-based businesses. As a potential business owner, it’s important to understand what they are:
- Service-based businesses rely heavily on quality and building relationships of trust with customers. As the business owner, you need to have good communication skills and an in-depth understanding of how your service meets your customers’ needs.
- Service-based businesses tend to be less expensive to start up and operate. This is especially true if you plan to run your business (at least initially) from home. With no inventory and low overhead, service-based businesses have the clear advantage over product-based businesses on cost.
- With the right tools, many service-based businesses are highly responsive and mobile. Not only can you run your business from just about anywhere, you should also be able to schedule and manage service calls professionally and promptly.
- Product-based businesses are typically (but not always) reliant on a physical storefront. You’ll probably need to rent or build space for not only the daily operations of the business, but also to store your inventory, which you will likely need to purchase well in advance of opening for business.
- Product-based businesses are often less responsive to customer needs, since products are often ordered or created before there is a customer to buy it. Demand for individual products can be difficult to judge in advance, often leading to overages or shortages. Carrying too much product is an expensive waste of time and money, but carrying too little can lead to unhappy or frustrated customers.
- For most product-based businesses, the customer must come to you, either online or in person. This can present serious challenges for marketing as you try to simultaneously build brand awareness while keeping all other aspects of your business running from day to day.
Benefits of Service-Based Businesses
When compared side-by-side, service-based businesses have a number of clear advantages over product-based businesses. These include:
Low barriers to entry. Whether you decide to invest in a service franchise or want to go it alone, the startup cost of a service-based business tends to be far less than most product-based businesses. This can make business ownership a real possibility for many.
Lower overhead. Many service-based businesses can be started right from your home. And because you typically provide your services on location, there is no need to have a storefront. For service franchises, you also get access to tech tools and professional marketing that most startups can’t even dream of.
No inventory. Just like you don’t need a storefront for a service-based business, you also won’t need to carry inventory, either. Not only does this reduce the cost of starting a service-based business, but it also allows you to focus on providing excellent services that will help you build a reputable name in your service area.
Faster ROI. Once your business is up and running, you will immediately begin receiving payment for services rendered. With lower startup costs and low overhead, your growth potential is high and you can more quickly see a return on your investment.
Flexible hours. Most service-based businesses offer much greater flexibility than other types of businesses. As the owner, you can set your own schedule, making it easier to manage your time for better work-life balance.
Scalability. One of the places that a service-based business really excels in in the area of scalability. As demand for your services grows, you can scale up by adding more mobile units, more service technicians, or add a new service area. And, if needed, it’s equally convenient to scale down to keep your business in line with demand.
People oriented. The heart of all business services is the people you’ll work with. While most businesses are more or less built on relationships, this is especially true of service franchises. As a business owner, you have the opportunity to not only provide for yourself and your family, but also to help members of your community. If helping people is what drives you, a service-based business sounds like a perfect fit!
Benefits of Buying a Home Services Franchise
One of the top industries for new franchise businesses is the home services industry – and it’s not hard to see why. While other types of businesses tend to suffer in times of economic hardship or when trends change (as they constantly do), the demand for quality home services never waivers.
Why The Home Services Industry?
As a whole, the home services industry put up some big numbers in the last few years. In the United States alone, home services is a $506 billion-dollar industry, employing over 5 million people. In fact, the home service industry contributes significantly to the national economy and has only grown larger over the last few decades, with service providers completing over 500 million jobs each year. That’s an average of about 16 jobs per second! Currently, there are more than 90 million Americans coming of age and ready to buy a home for the first time in the next few years, adding to the already more than 79 million homeowners across the country. As one of the fastest growing industries in the nation, the home service industry is likely to just keep right on growing to meet the increasing demand.
Knowing Who to Trust
While many home services businesses have traditionally been startups, that is not the case anymore. Today, homeowners are not only looking for home improvement services, but also convenience and efficiency provided by a respected brand they can trust. It’s a sad reality that many property owners have been treated badly by so-called service professionals in the past.
But the interesting part is that their frustration actually creates opportunities for high-quality service brands to earn back their trust. From services like home inspections to home restoration, not to mention the full range of repairs for both homes and businesses, people need quality services. For award-winning national franchises like Storm Guard, in particular, opportunities abound to show homeowners another, better way. As people continue to want tech-savvy, professional services they can rely on, respected franchise brands in the home services industry will continue to rise to meet demand.
Checking Out the Competition
While franchising itself is not new – it’s been around since at least the 1930s – the types of franchise businesses now available has widened significantly over the last few decades or so. It used to be that franchises were associated mostly with fast food restaurants, motels, and later gas stations. Of course, starting a franchise business in any one of these industries has always been an expensive, time-consuming process with high barriers to entry. These industries are also very sensitive to changes in the economy, tourism, and both local and national trends, leading to high failure rates and reduced longevity.
Franchises in the home services industry are different. A relatively recent development in the world of franchising, home services franchise opportunities are able to leverage the brand recognition and reputation of large, national corporations while offering local, community-specific services at the same time. As small business owners, franchisees in the home services industry often become trusted members of their communities, contributing not only to their own financial stability but to the local economy as well.
Advantages of a Home Services Franchise
As business opportunities go, there are clear advantages to investing in a home services or home improvement franchise. Some of these benefits include:
Comprehensive training. As a new franchise owner, you will start your business knowing everything you need to make a successful start. You will have the benefit of training from the experts as well as opportunities to learn from other franchise owners.
Ongoing support. Once your training is complete, the support for your new business doesn’t end there. A great franchise company will provide you with mentorship and ongoing access to business professionals who will support your journey to successful business ownership.
Proven business model. Arguably one of the best things about choosing a franchise business is that it virtually eliminates uncertainty about how to run your business. With a proven business model in hand, all you need to do is put in the work to make your business succeed!
Technology-enhanced efficiency. Today’s home services franchise businesses are out-performing other businesses thanks to enhanced technology that offers more flexibility and convenience than ever before. Customers will love how easy it is to schedule services, and you can efficiently run your business from almost anywhere.
Low startup costs. Compared to franchises in other industries, home services franchise businesses are relatively affordable. What is more, there are sometimes programs available to help make investing in a franchise even more accessible for the motivated, first-time business owner.
World-class marketing. With professionally designed marketing materials, logo, and supplies, you can create great visibility for your new franchise business right from the start. No need to come up with ads and marketing yourself – it’s all done for you!
Trusted brand name. The value of a respected name brand cannot be overstated. For new franchise owners, the brand is both a benefit that helps you find more customers more easily, but it also is a reminder to represent the brand as an ethical, responsible part of something bigger.
Opportunities to grow. When your franchise business is ready to expand, you’ll have the support you need to make that happen. Home services franchise businesses are in demand as homeowners realize all the benefits they have to offer. With such a bright future ahead and the support of your franchisor behind you, there are plenty of home services franchise opportunities to take your new franchise business as far as you can go!
Home Services Franchise Opportunities
The home services industry comprises a wide range of different service types. Many of these services are directly related to construction services and home maintenance and repair, while others are more care-based services, such as a cleaning franchise or pet or senior care. While there are certainly franchise opportunities in many of these service areas, such opportunities are not all the same.
Types of Home Services Franchises
There are distinct differences between types of home services franchises. For example, some of the top-performing home services franchise brands are focused on services that many homeowners are unwilling or unable to do themselves. These include services like roofing, electrical repairs, plumbing services, appliance service and repairs, air conditioning and HVAC service and repair, landscaping services, and remodeling and handyman services. These types of home services franchises provide specialized services that homeowners want and need to keep their homes well-maintained.
Along with home repairs, other types of home services franchises fall into categories such as carpet cleaning, janitorial services, general house cleaning services, junk removal, pest control, and care services. For example, both window cleaning and interior house cleaning franchises have grown in popularity as busy homeowners rely more and more on outside help to maintain their homes. The same thing is true of pest control and care services, two very different services that continue to grow to meet the rising demand.
Why You Should Consider a Roofing Franchise
With so many different types of home services franchises currently available, it may seem difficult to choose just one. But if you are serious about starting a successful home care services franchise business, you won’t find a better opportunity than a roofing franchise with Storm Guard. As a trusted national franchise, Storm Guard offers a unique business model as well as all of the great benefits you’d expect from a top-quality franchise company. Some of the features that set Storm Guard apart from other home services franchises include:
Higher margins and ROI potential. Roofing is one of the top industries for healthy profit margins. Unlike home services franchises that need a large number of jobs to keep their balance sheet in the black, roofing services typically offer higher margins per contract. With higher margins on each job, there is great potential to see a higher return on your investment and at a much faster rate than in other franchises.
Fewer customers = less chaos. We contract primarily with insurance companies to provide roofing services to property owners around the country. Because of the size and nature of roofing replacements and repairs, you won’t need as many customers to keep your business growing at a rapid pace. In fact, many Storm Guard franchise business owners are able to build a significant amount of revenue with far fewer customers than most other types of home services franchise businesses. Fewer customers means less chaos, and more time to focus on meeting your business ownership goals.
A National Brand with a Local Touch
If you are looking for a franchise business opportunity with nearly unlimited potential, then Storm Guard may be right for you. We are a national brand created to fill a need for ethical, high-quality roofing services. As local business owners, our franchisees are dedicated to contributing to their communities and helping people whenever they can.
Learn more about the Storm Guard franchise opportunity by downloading the Franchise Opportunity Guide.