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Diamond Home Support
Diamond Home Support
Time For You
Time For You
Home Services Franchises
Nothing is more important to an individual than his or her home. In UK, most home owners do not get the time to make amendments or make alterations to their homes. A research shows that people require outside help for most of their home maintenance work which is why the home services industry in UK has always been a lucrative business opportunity.
How to choose the right home services franchise for youHome improvement franchises are among the fastest growing sectors in the franchise industry. As home repairs and renovations increase, the demand for plumbers, electricians, and HVAC engineers has increased, making home service franchise businesses a lucrative opportunity. If you are considering investing in this type of franchise, here are a few things you need to know.
How to identify the right home service franchises for you
Determine your goals
To find top home service franchise opportunities, you must also know what you want to accomplish. So, before you start exploring your options, write out your personal and financial goals. Also, think about how you want to run your new business. Once you have answers to these questions, use them as guiding points to help you find the perfect franchising opportunity for you.
Assess your interests
Home service companies offer a variety of services, including cleaning, landscaping, plumbing, renovating, flooring, HVAC installation and maintenance, moving and storage services, etc. With so many opportunities to choose from, it is important that you specialise in one or a few services. Your interests and hobbies could help you find the right niche for you.
Create a budget
Once you’re clear about what you want and what you want to achieve from your new venture, you can now start looking for viable home service franchise businesses. However, before you start shopping around for a budget home service franchise, assess your financial situation and determine how much capital you want to invest. This is very important because, like any other business opportunity, a franchise could end up at a loss.
What to look for when selecting a home service franchise
There are hundreds of franchise opportunities out there, so how do you identify profitable home service franchises? Here are a few things to look out for.
1. Market strength
Buying a home service franchise requires a hefty investment. As such, it is crucial that you pay attention to the past and projected growth of the market. According to Verified Market Research, the global home service market is expected to grow by 18.91% every year from 2019 to 2026.
This growth is driven by the rapid increase in the sale and remodelling of existing homes. Additionally, the global pandemic has played a significant role in increasing the rate of repairs and renovations since people are spending more time at home and using their homes for a wide range of daily activities. Therefore, if you want to invest in a profitable home service franchise, construction franchises dealing with additions remodels, and renovations are a great choice.
2. Support system
This is another important consideration when choosing a franchise. As a franchisee getting into the industry, you want to ensure that you get both theoretical and practical training, especially if you don’t have previous entrepreneurial experience. Your franchisor should set up a support team that you can reach out to whenever you have questions. A good franchisor should also provide learning opportunities for you to gain industry insights and advance your skills. A good support system will make the transition to entrepreneurship much easier for you and your business a fair shot at survival.
Investing in a franchise is a costly affair, so you must ensure that your investment gives you something in return. Read the FDD to determine the company’s royalties structure. Understand how they calculate these royalties and the duration you need to pay them.
4. Uncover the franchisor’s reputation
The franchise business model relies on a parent business with a proven track record and a scalable business model that can be replicated across different territories. Therefore, when looking for home service franchises for sale, do your due diligence; check everything from online reviews to the success rate of other franchisees. Ensuring that you invest in a reputable company is especially important in the home service industry because customers’ perceptions of the company will influence the success of your business venture.
5. Opportunities to upsell
While often overlooked, the opportunity to upsell is a crucial consideration when looking at the best home service franchises for you. Upselling allows you to expand your business’s core offerings, giving you multiple streams of income. For example, if you invest in a roofing franchise, you should be able to offer other services such as window replacement, painting, plumbing, etc.
With this type of franchise, you’ll be running your business within a predetermined territory. Therefore, it is crucial that you figure out how these territories are carved out. In addition to population, home service franchise territories should also be based on factors such as dwelling type, average household income, etc.
The home services business has an array of services that help make home owners lives easy. From insurance, to construction, to cleaning, repairing and gardening, any and everything that is related to beautifying and maintaining your home is available in the UK franchise market and an investor can find many home services franchise opportunities. There are many trusted names that are willing to sell their franchise for an initial upfront investment. The business gives lucrative returns and is guaranteed to do well, as this industry is constantly growing. Buying a home services franchise in UK doesn’t require a lot of experience or training. For example, for an investment of £30,000, you can become a part of Caremark, a fully UK owned and operated home care business, which has created a very loyal client base. The name of Caremark is synonymous with reliability across UK. They are interested in making sure every house in UK is able to avail their assistance. They have a very stringent and well-planned franchise management system, and their constant support and training helps the franchisee to succeed. These home services franchises in UK generate handsome profits.
If you are interested in a van-based home services business, then OvenClean is the franchise for you. The company has a simple and effective franchise model, which is very straightforward to follow. The business supports the franchisees so that their turnover is exceptional. With an initial investment of £14,995, you can become a part of a business that caters to 26 million households across UK. The business has a comprehensive training package that helps bring the franchisee up to speed with what the job entails. Another van-based home services franchise in UK is MY Window Cleaner franchise, which helps keep the glass windows and doors of the homes sparkling. It has a large customer base and the initial investment starts from £7,000. The turnover is great as the client base has already been formed and people trust the brand name.
The home owners in UK are mostly couples who have jobs and children and barely have time to give the house a deep clean. This is why the ‘Time for You’ franchise is so popular among the people. It matches professional independent cleaners to households that require cleaning. The company takes the responsibility of the cleaners. Checking references, and doing background checks etc., so that the clients are satisfied and feel safe with people coming over via this company. This business is very lucrative as its target market is all the home owners in the country. The franchise owners don’t have to do any of the cleaning themselves. They just have to connect the right household to the right cleaner and enjoy profitability of the franchise. This is a great example of the diverse home services franchise opportunities available in UK.
This industry will keep booming till people own houses in the UK. So, it is safe to say that this is a very safe and profitable, long term investment.