FAQs About Handyman Franchises
Are you curious about owning a handyman franchise? Think it might be a good industry for you but want to find out more? Here are some FAQs about handyman franchises.
Handyman Franchises Aren’t Just For Men, Right?
Of course not. Traditionally, this kind of work was done by men, but nowadays there are plenty of skilled and successful handywomen. We just use the term “handyman franchise” like we would “manhole cover”; it’s just a name. In fact, many of Kitchen Solvers Franchises are owned and operated by women.
Is The Handyman Industry Profitable Right Now?
Handyman franchises generally receive steady demand. In March of 2020, home refinance applications rose by an incredible 79%.This indicated how important home renovation is to people today. The industry took a hit right after March 2020 thanks to the COVID-19 pandemic. However, it has already started bouncing back. Exact figures are difficult to get, but it seems that by the third quarter of 2020, handyman franchises had almost entirely rebounded already. Demand is strong.
Why Is It Important To Buy A Handyman Franchise?
If you have handyman experience and have the acumen and knowledge to run a business and manage a staff, you might do well with an independent handyman business. But only if you’ve saved up enough money to get through those first three, four, or five unprofitable years. The truth is, going at it alone reduces your chances to succeed. It can be challenging to have a brand name people don’t recognize, no guidance and support, no industry connections, and little to no marketing help. Professional and serious handyman franchisors charge only modest fees to purchase a franchise. It is an investment that allows you to operate your business much more effectively and efficiently, putting more money in your pocket sooner.
How Much Does It Cost To Start Up A Handyman Franchise?
Typical start-up costs range from $91,000–$117,000.
How Much Money Do Handyman Franchises Make?
The amount of money a handyman franchise makes depends on a whole host of variables. Speaking very generally, a good handyman franchise can expect to take home about 45%in gross profit on an average job.
Should I Invest In A Showroom For My Handyman Franchise?
Showrooms are great because they really let you show off the kind of work you do. Photographs of finished jobs published on a website are good, but people like to see and touch what their dream kitchen or bathroom could be. Having said that, there are many successful handyman franchises that don’t use showrooms. They’re a significant added investment and many prefer to keep overhead costs low. Many handyman franchises start out without a showroom and then later they decide it might be worth the added investment.
Should I Buy A Kitchen Solvers Franchise?