If you’re an entrepreneur looking for a franchise opportunity, your investment decision is undoubtedly based on key factors like costs, demand for services and industry growth. If that’s the case, further investigation into home service franchises is worth your while.
Types of Home Services
The home services sector is an enormous umbrella industry that covers a multitude of sectors. Franchise Direct points out services like cleaning, decorating, landscaping, maintenance, home repair franchises (HVAC, painting, carpet, cleaning, pest control), and restoration services.
This model typically involves a franchisor providing training, support, and marketing to franchisees who own and operate individual franchise locations. Franchisees pay an initial fee and ongoing royalties to the franchisor in exchange for the use of the brand name, business systems, and ongoing support.
Financial Outlook
Home services franchises can be a lucrative business opportunity for entrepreneurs who are interested in this industry without the hassle and stress of a startup. Franchises offer a proven business model and the support of an established brand, which can help you succeed.
Two things to look at here: First, the strength of the home services industry. Verified Market Research reports that the home services market size was valued at $370.86 million in 2021 -- projected to reach $1,826.35 million by 2030, growing at a rate of about 21% per year.
Secondly, couple the success of the home services industry with the expansive growth of franchising and you’ve got a promising investment opportunity.
Based on the International Franchise Association’s Economic Outlook , there are more than 790,000 franchise establishments in the U.S. that support nearly 8.4 million direct jobs. Franchising accounts for $825.4 billion of economic output for the U.S. economy, and almost 3% of the Gross Domestic Product (GDP).
4 Things to Consider When Choosing a Franchise
Knowing that both the home services industry and franchising are growing due to increased demand, as you further investigate a home service franchise there are some things to consider:
- Brand recognition: Zero in on a brand, like ServiceMaster Restore. Want to know more about our reputation as a brand? We’re a commercial and residential restoration company that’s been in business more than 65 years because of the high standards our customers have come to expect. Each of our franchise owners are backed by the reputation Restore brings as a household name in the industry.
- Training and support: At ServiceMaster Restore, we provide you training as a franchise owner not just to operate your business effectively, but to assist your customers in a crisis. Franchise owners and their teams are certified to restore homes and businesses after damage from weather, smoke and fire, and mold remediation. Being a leader in the restoration industry, we recognize that it’s important to obtain comprehensive training and ongoing support from your franchisor to help you run the business effectively and have the qualified skills to get the job done right.
- Transparency: This is important to us, and we know it’s important to you. At ServiceMaster Restore, we are transparent about our costs because we want you to have a clear understanding about your investment. This allows you to have the financial resources to support your franchise business. We are also transparent about our operations, which is why we encourage you to gain even more feedback about our brand through conversations from our franchise owners. Not only will they provide information about their experience, but they will also serve as a great networking resource for you.
- Uniqueness: Having something special that gives you a niche in the industry or allows you to stand out among the competition is very important in business. At ServiceMaster Restore, what sets us apart is that while this is a lucrative industry, our franchise owners are dedicated to helping their communities by restoring homes and businesses when damage has been done. We are an essential service to both residential and commercial clients who can call on us anytime, 24/7, to assist with recovery.
Now’s the time to get started with this distinct franchise opportunity with ServiceMaster Restore. Simply fill out our form in the link above and we'll be in touch.