4 Reasons To Buy A Home Remodeling Franchise
If you want to own and manage your own business, you should consider a home remodeling franchise. Buying a franchise allows you to own your business while benefitting from a brand name and guidance. Here are four reasons to buy a home remodeling franchise.
1. Home Remodeling Franchises Have A Low Barrier To Entry.
You don’t need to be handy to run a home remodeling franchise. First, not every home remodeling franchisee does the physical work themselves; you can hire a staff if you prefer. Second, many home remodeling franchisees do prefer to do the work themselves and it’s not particularly difficult to learn. If you buy from the right franchisor, they can teach you everything you need to know. Furthermore, money is not a big obstacle, either. If you have money to buy a franchise, you probably have money to buy a home remodeling franchise. You can expect to pay about $100,000 to buy your home remodeling franchise and cover all the necessary start-up costs.
2. There Is High Demand For Home Remodeling.
Home remodeling franchises operate in an industry that is worth approximately $347 billion annually. In March 2020, home refinance applications grew by a remarkable 79%, which is always a good sign for home remodeling franchises. Of course, March 2020 was before the COVID-19 pandemic hit, so home remodeling franchises are probably struggling now, right? Well, not really, no. When the pandemic first hit, many kitchen remodeling franchises struggled, like pretty much every other business in any other industry. But since about June, the kitchen remodeling industry has really bounced back.
3. Home Remodeling Jobs Yield High Profit Margins.
Because home remodeling is essentially a creative job, you are generously remunerated for your work. You turn an undesirable kitchen, bathroom, or whatever, into a desirable, so you can charge considerably more than just the cost of your materials. Remodeling jobs often cost around $15,000 (though there is great variability), and from such a job you can expect about 45% of that number to go to you as gross profit. Kitchen Solvers franchises with two full-time employees consistently net over $600,000 in gross annual sales.
4. Home Remodeling Franchisees Get To See The Results Of Their Hard Work.
Some people are happy to work on a spreadsheet for eight hours and then go home and forget about it. But many people who want to own a home remodeling franchise want to see the finished product they’ve worked so hard to create. Don’t underestimate the powerful feeling of job satisfaction.
Kitchen Solvers Franchise
At Kitchen Solvers, we offer the best kitchen remodeling franchises around and we’ll give you real leg-up when you get started. To learn more about us, please get in touch.
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