As a small business owner with a restoration company, you’ve worked hard building a customer base, establishing relationships and managing operations. However, you might be at a point where your business is stagnant; you’re just not seeing the growth you need to generate bigger income and profits. You may want to think about your next strategic move — converting your existing small business to franchise ownership. Consider the advantages.
Advantages of Being a Franchisee
- Established Business Model: As a current business owner, you’re probably operating under a small business plan. However, franchising can signify expansion and growth opportunities. As a franchisee, you’ll operate under a proven, established business model that has the potential to increase your sales and earnings.
- Training and Support: While you may be well-versed in how to operate your small business, as a franchisee your operations will change. Another benefit of franchising is that your franchisor will provide the necessary comprehensive training and ongoing support to help you transition from small business owner to franchise owner, efficiently. This includes initial training on operating the business, product or service knowledge, and continued assistance in areas like marketing, staff training, and financial management.
- Brand Recognition: Perhaps one of the most valuable benefits you’ll gain from converting to a franchise system is operating under a recognized and trusted brand name. This instant brand recognition can attract new customers you might not have drawn otherwise and provide a competitive advantage in the market.
- Marketing Plan: As a franchise owner you no longer have to wear the many hats needed to operate a small business. For example, there are franchise experts to handle or advise you on promotions, marketing, and advertising efforts at the national, regional and local levels. Another benefit of franchising is that you’ll become part of a shared marketing strategy that assists all franchisees by increasing brand visibility and attracting more customers.
- Business Guidance: You know how to operate a small business, but how about a growing business that’s part of a franchise? As a franchisee, you’ll receive guidance and advice from the franchisor, drawing on their experience and expertise in running the business successfully. No more going it alone trying to navigate a small business.
What Makes This a Better Option Than Owning My Own Business?
Converting to a franchise can give you a competitive edge, providing growth opportunities and support. Being part of an established brand with name recognition can grow your customer base. Becoming a franchise owner can quickly impact your revenue as you benefit from collective buying power, resources like franchise experts, and technical training and support that will equip you to grow to the next level — a goal you might have never achieved as a small business owner.
Conversion Means Getting Acclimated to a New Approach
You’ve explored some of the benefits of franchising, but are there disadvantages? There are some adjustments you’ll need to make as you transition from an independent business owner to a franchisee. For instance, you’ll need to:
- Qualify and prepare for financial commitments
- Adjust to paying ongoing fees and royalties that are usually based on percentage of sales
- Follow guidelines and standards to maintain brand consistency
- Abide by any restrictions on products and services.
- Agree to work under a legally binding contract.
It’s important to do your research when you convert from a small business. You want to align with the brand, ensure it has a history of strong growth, and offers opportunity for expansion.
The Benefits of Franchising with ServiceMaster Restore
ServiceMaster Restore has been in the restoration business for 65 years and growing! In an industry like restoration, you’re often meeting your customers on one of their worst days as they are experiencing a loss or damage to their home or business. ServiceMaster Restore has earned a trusted name thanks to high brand standards and the ongoing focus on customer care.
When you convert your business to become a ServiceMaster Restore franchisee, you’ll have access to a network of corporate accounts in the insurance industry, which means new sources of revenue to expand your business. You’ll utilize the ServiceMaster Restore brand name, trademarks, systems, and network.
This opens the door to great opportunities competing in the market on a larger scale. And you will be well-equipped to manage your growing restoration business after receiving comprehensive training designed to develop your business. You may be used to going it alone as a private business owner, but as a franchisee with ServiceMaster Restore, you can access the valuable insight of the other franchise owners who can serve as a great resource for your business.
If you’re ready to make a change, convert your business and expand your profit potential, let’s get started . Fill out the online information form, and someone from the franchise development team will be in touch.