Advantages of Owning a Home Service Business
If you are examining the possibility of owning a franchise, we have a list of reasons why a home service franchise could be the best decision you can make for your future entrepreneurial endeavors. Continue reading for a list of advantages a home service business has over other business you could own.
Housing Market and Home Improvement
When the housing market is heating up, sellers may choose to improve their homes to increase its resale potential. Homeowners who are looking to make a profit on the resale of their home, may want to make home improvements. If they are serious about it, they will want a professional contractor to do the job.
New homeowners tend to make improvements immediately after closing to make the home their own. When a new homeowner purchases a house, one of the first things many of them do is hire contractors to make changes to the home before they move in. This will help to make the home feel like a new space and less like a used area that is uncomfortable to dwell in. A renovation contractor will make that happen for new homeowners.
When the housing market is poor, homeowners will stay in their home and work with what they have. In most cases, it’s more affordable to renovate a house than it is to build a new one. The majority of homeowners will hire a contractor to do home improvement projects on their investment so they know the job was done right.
Plenty of Work
If you are concerned about finding enough work, don’t be. There are many opportunities for renovation contracting jobs in private and commercial buildings. For example, a commercial building, such as an apartment complex, may require a bathroom renovation. Where there is need for one renovation, there is likely need for more in the rest of the complex because the units were built at the same time. If you think about how many dwelling spaces there are in a given city, there are a lot home improvement needs all over the map. Lots of opportunity for home service work means lots of business for owners of a home service businesses.
Homeowners and housing market aside, the business of home improvement is an advantageous one to choose because of the reasons below.
Which Jobs to Take on
Because of the nature of home improvement, you as the business owner have a little more freedom to set your own schedule. This means, you can choose when you offer estimate appointments. As your business picks up, you get to select the people you work with, and which jobs your team takes on.
When You Work
Thanks to the flexibility owning a home service business offers, you get to arrange your schedule in a way that is beneficial to you and your family. You can start work early and finish earlier in the day when the kids are home. Conversely, you can break up the work into segments that fit your family’s schedule. For example, customer appointments during school hours, free time when they are home, paperwork at night after your kids are in bed.
Your Vacation Time
Another advantage is that your vacation can be more convenient to take during the slow season. The time of year when home improvement demand dies down is a great time to take a break. This can mean you go on a sunny vacation in the winter when tickets are less expensive. Top it off with the smaller crowds at popular attractions because school is in session and everyone else is working.
Lower Startup Costs
Starting a business is an investment. Some businesses require a bigger investment than others. A food service franchise, for example, requires a lot of expensive equipment, and adequate staff, before you even open the doors.
The equipment requirements for most home service businesses are not only less, they are usually affordable. Those equipment needs become even less when you select a highly specialized home service like Five Star Bath Solutions who focus primarily on bath and shower renovations.
With a home service business, you don’t have to have a large inventory. That’s less space you need for running your business and less inventory tracking you have to do. If you have ever had to count inventory, you know why a small amount of inventory is a big deal.
A home improvement business can be operated out of your home. This means you don’t need to hire staff to manage the storefront during normal business hours. The space you do need to store equipment will be significantly less expensive than renting a store location.
You don’t need to hire a lot of people to run your home service business when you first get started. Instead you can increase your staff as your business grows. This keeps payroll simple and inexpensive when your new company might not be turning a significant profit yet.
No Technical Knowledge Required
If you are concerned that you lack home renovation skills, you don’t need a technical background in renovation work to have a business in the home service industry. Instead, you hire technicians to work for you who have the technical skills and qualifications. You run the business end and do the hiring. When you sign with a great franchise company they provide you with the training you need to do the work and run the business. It’s part of the packaged deal.
The advantages of owning a home service business are significant. It’s more affordable, you don’t need a lot of people, you control your schedule and choose who you work with. Plus, if you choose a home service franchise, rather than going it alone, you will have that much more advantage over the competition. With a home service franchise you have a greater chance at success because you can focus your efforts on running the business rather than establishing it.
About the Bath Solutions Franchise
Five Star Bath Solutions™ is a network of bath and shower renovation specialists. With franchise locations throughout North America, the Five Star Bath Solutions franchise system provides a home-based business opportunity in the home remodeling industry for aspiring entrepreneurs. For more information about our franchise opportunities please visit us online at: www.bathsolutionsfranchising.com or call us directly at 888.344.0828