Informed Investments Only! 3 Things To Look For in Handyman Franchises
Today’s post is intended to help you do your due diligence when researching potential handyman franchise opportunities. Read on to learn 3 things every handyman franchise opportunity should include, as well as where to turn the brand you’re currently considering falls short of these standards.
Reasonable Initial Investment Requirements That Factor in Working Capital
Conventional wisdom suggests that the bigger the investment requirement, the better the handyman franchise. But that’s not always the case. Inflated franchise fees and initial investment requirements are sometimes signs of a bloated system.
Keeping your investment level manageable should be a top priority. This allows you to reach the break-even point and start generating a return on your investment faster.
But that doesn’t mean that handyman franchises with tiny startup requirements are automatically worthwhile. Beware of initial investment requirements that are well below market standards–sometimes you really do get what you pay for. Underpriced handyman franchise opportunities usually lack adequate support services, training programs, and other perks.
Ideally, you should strive to find a handyman franchise priced somewhere in the middle. Additionally, the franchise should factor adequate working capital into these start-up costs. Having liquid capital on-hand is critically important to the health and wellbeing of any franchise start-up.
The Kitchen Solvers franchise opportunity is available for $60,000 to $80,000. This includes the franchise fee, along with a considerable chunk of working capital to fall back on in case of emergencies or shortfalls during the early goings. You can learn more about the investment requirements for single and multi-unit franchises here.
Multiple Revenue Streams and Service Offerings
Handyman franchises that focus on one or two specific services may enjoy authority in their particular niches, but they back owners into a corner, limiting their profitability and ability to expand over time.
While it’s never a good idea to bite off more than you can chew in the early goings, it’s always good to leave yourself room to grow. Accordingly, seek out handyman franchises to offer more than 1-2 simple services.
The Kitchen Solvers franchise is a great example. In addition to being able to take on the jobs of a handyman franchise owner, Kitchen Solvers franchisees can sell flooring, countertops, cabinet refacing services, and much more. We also provide design consultation and assistance with storage solutions.
These various revenue streams and service offerings give our franchisees greater market share, without ever forcing new owners to juggle everything at once. Some franchisees choose to focus on specific services, but they always have the freedom and ability to expand. In fact, Kitchen Solvers even offers executive-level investment options for those ready to take their business to the next level.
A Rock-Solid Reputation
The success of handyman franchises is largely based on trust. After all, the business requires that customers let you into their homes and work on some of their most prized possessions.
Accordingly, the best handyman franchise opportunities will be offered by brands with winning reputations. And in 2019, that means lots of positive online reviews in addition to the usual word-of-mouth.
Kitchen Solvers has that covered. A quick Google search reveals:
Explore the Kitchen Solvers Opportunity at https://kitchensolversfranchise.com/. You can also speak directly with a representative–call 608-615-7399.Back