The Opportunities That Come With A Home Improvement Franchise
Home improvement franchises are some of the best opportunities around in the business world right now. There is always a steady stream of demand for home improvement jobs and the profit margins can be very impressive.
Home Improvement Franchises Offer The Opportunity To Tap Into A Huge Industry.
The home remodeling industry is worth, roughly, $347 billion. That’s billion with a ‘b’. While no job is recession proof to a sufficiently catastrophic recession, a home improvement franchise comes pretty darn close to being recession proof. This surprises some because they think of their own finances and can’t imagine arranging a renovation if they lost their job. And that’s reasonable. But consider this: in 2020 almost every industry has taken a hit. But the real estate market has stayed remarkably strong. And a lot of the jobs home improvement franchises receive are from people who are planning to sell or who have recently purchased homes. Not to mention, for those who still have the means, nothing is more likely to propel them to finally get that kitchen renovation done than being stuck inside for months during lockdown in a kitchen they can’t stand any more.
Home Improvement Franchises Offer Surprisingly High Profit Margins.
When it comes to selling products, many of the most successful global businesses actually have a very small profit margin on the items they sell. But they sell so many of them that it they end up making big profits. Service industries are different, especially for businesses that require a fair amount of labor like home improvement jobs. You don’t want to work for weeks or even months on a job to make a pittance.
Thankfully, the best home improvement franchises provide an opportunity to make a lot more than a pittance. Let’s say you do a renovation that costs about $15,000. A lot of that money is going to go towards materials, labor, and bureaucratic costs. But perhaps not as much as you think. The top home improvement franchises have the opportunity to command a fair amount for their work because they’ve established a reputation for good work over the years, in some cases even decades. The end result is that franchisees of these top home improvement businesses routinely take home about 40% of such a job in gross profit. That’s a remarkable percentage. You’d be hard-pressed to find another franchise opportunity that allows you take home such a high percentage of the value of your labor.
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