Showing all 9 results
Plan It Design
Plan It Design
Water Cooler World
Water Cooler World
Plumbing franchises offer an investment opportunity in a stable and growing business sector. Plumbing services are sought after by both homes and businesses. With over 27 million households & 5 million businesses in the UK, plumbers have a vast potential market.
The plumbing sector even has some specialist areas, including drain clearance, and there are several drain unblocking franchise opportunities available in the UK.
Plumbing & drain clearance requires a lot of training, tools, and other equipment to become qualified. Because of this, if you are seeking to change your career direction and are interested in a plumbing & drain clearance business, franchising is a good choice.
How to choose the right plumbing franchise for you
Are you thinking about purchasing a plumbing franchise? If so, choosing the right one is key to succeeding as a franchisee. Unfortunately, with the many plumbing franchises available in the market today, including van-based plumbing franchises, settling for one can be a daunting and challenging task. There’s a lot to consider, from financing, costs, and market to competition and upsell opportunities. To ensure you make the right decision, here’s a guide to selecting the right plumbing franchise business for you.
How to choose a plumbing franchise
When choosing a plumbing franchise, you want a business opportunity that offers a viable plan for profit and success while fitting your personal preferences. Here’s how you can achieve this.
Before investing in any plumbing franchise to buy, conduct in-depth research about the plumbing industry at large to educate yourself. During your research, learn about how plumbing franchises work and what’s required to become a plumbing franchisee. For example, do you have to have plumbing qualifications to buy a plumbing franchise? Do as much research as possible until you have a good grasp of what you’re getting into.
2. Compare and contrast
Part of your research process involves finding multiple plumbing franchises and comparing them to find one that suits you best. The goal is to choose a plumbing franchise brand that you trust to make good decisions and has a proven track record of success. When comparing plumbing franchise businesses, visit their model centres and understand what training and support they offer to franchises. A great plumbing franchise provides ongoing support and training and has a successful model that works to bring in sales. Similarly, compare the upfront costs involved in buying and joining the franchise. Usually, these costs can be quite high, but it’s possible to find affordable plumbing franchises. So, evaluate the financials of each franchise and how you can finance it, whether that’s through loans or savings. Don’t forget to factor in additional costs. Remember, choosing a plumbing franchise is an intensely personal journey. So, you have to select one that you feel good about and aligns with your goals and vision.
3. Narrow down your choices
Once you’re familiar with every franchise and its financials, market, model, and training program, it’s time to narrow down your choices to two/three franchises. This makes it easier to dive deeper into each plumbing franchise and assess the opportunities and rewards they offer. You’ll have to weigh the pros and cons of the selected plumbing franchises, taking into consideration profitability. This means you have to measure your time, energy, and money and whether they match the rewards to ensure you only invest in profitable plumbing franchise opportunities. Additionally, evaluate the business goals of these franchises and whether they align with your personal goals.
4. Ask questions
Buying a plumbing franchise is a significant investment that requires careful thought and consideration. Therefore, don’t rush the process and ask plenty of questions. Start by interviewing the prospective franchisor extensively, taking note of how they respond. Ensure they clarify the plumbing franchise training, grand-launching program, restrictions, and license boundaries. If they withhold any vital information or hesitate to answer any queries, avoid working with them as they may be hiding something. Similarly, talk to current franchisees in the system about the franchise, what they would advise, and their success rate. If you like what you hear, you can continue to the next step.
5. Read the FDD (Franchise Disclosure Document) carefully.
Always read and understand the FDD of your prospective franchise as it provides adequate information about the franchise unit, the franchisor, and the franchisee requirements. Analysing this document carefully ensures you know your responsibilities as a franchisee and what is required to remain compliant. Take note of any limitations or restrictions, such as pricing policies that you’re not comfortable with. There’s no point in moving forward with the franchisor if you’re sure you’ll have difficulty complying with the guidelines. In some cases, you can negotiate with the franchisor to develop a franchise agreement that works for you both. But, it’s essential to work with a franchise attorney who can advise you accordingly, argue for better terms in your favour and inform you of any loopholes in your franchise agreement. An experienced franchise attorney can also help you analyse and understand the FDD.
Learn more about plumbing franchises
Simply because franchising is a proven business model doesn’t mean you can jump in and succeed. Take your time and conduct due diligence so that you find low-cost plumbing franchises with solid systems to help you grow fast and profitably. If you want to buy a plumbing franchise for sale, feel free to browse some of the top plumbing franchises from our franchise directory. This extensive list of plumbing franchises is affordable, guaranteeing you can find the right profitable plumbing franchise for you.
Statistics around the Plumbing industry:
For anyone interested in investing in one of our plumbing franchise opportunities. We will now list some statistics which have been recently collected in the UK. Hopefully, these will also help contribute to your decision on whether buying a franchise within the plumbing industry would be the right decision for you.
- The plumbing industry in the UK is still seeing growth every 5 year period slowly but surely. The UK plumbing industry. According to Ibisworld, has seen a growth of 1% from 2015 to 2020. Even though this is not a huge growth at least it shows the plumbing industry is heading in the right direction.
- Also, the total market size for plumbing services in the UK is worth a staggering £17 billion, according to Statista.
- Another good thing about the plumbing industry is that it provides many exciting job opportunities across the UK. According to Ibisworld, the plumbing industry has a total industry employment of 149,000.
- Also, many people have already taken advantage of this strong market. Because did you know there are already over 39,000 plumbing businesses currently operating in the UK.
The reason for this is that the franchise business has a vested interest in the success of your business so. Usually, you will receive first class training & support.