The franchise model has become increasingly popular as a way to start a business in recent years. And it comes as no surprise. Franchises offer many benefits over conventional businesses, including brand recognition, proven business models, and access to resources and support from a franchisor. For these reasons, many people see franchises as less risky than starting a business from scratch.
If you plan to get your feet wet, you’re probably wondering, “can I run a franchise completely from home?” Well, yes. Some viable home-based businesses include franchise and business consulting services, pet services, B2B services- the list goes on.
Alternatively, a residential construction franchise may allow you to run the business from home, but not entirely. Let’s delve deeper and discuss a type of residential construction franchise you can run from home and some tips for running your franchise successfully.
Home Improvement Franchises
Homeowners are always looking for ways to update and improve their homes. There’s always work waiting to be done- be it a minor update or a significant renovation like remodeling a kitchen. Accordingly, the demand for businesses specializing in residential remodeling continues to grow.
Franchise opportunities in this field offer the chance to tap into this growing market. These businesses focus on helping homeowners update and improve their homes by providing advice, project management services, or hands-on labor. If you’re interested in becoming involved in the home improvement industry, a residential remodeling franchise could be the perfect opportunity.
Regardless of the state of the economy, one thing is guaranteed: homeowners will always need to renovate, update, or improve their dens. As a result, a home improvement or remodeling franchise can be a great way to get involved in a business you are passionate about without having to invest all of your capital.
When you purchase a franchise, you are essentially buying a turn-key operation that comes with everything you need to get started. This includes the initial investment, training, and ongoing support. As such, the franchise model is an excellent alternative to conventional businesses requiring you to strike out independently. Typical home improvement projects you may undertake as a franchisee include:
- Kitchen renovations
- Bathroom upgrades
- Floor repair
- Room conversion or addition
- Insulation upgrade
- Fence building
You may operate some of these businesses from home with minimal staff. As a franchisee, you can manage overall operations such as payroll, appointment scheduling, and administration from home. But, you’ll need a hands-on approach that involves providing on-site services to clients in your territory. Therefore, you won’t be running the business entirely from home as the business requires a physical presence.
Tips for Operating a Franchise
To succeed at anything, you can’t afford to fly blind. Take it from us- many have attempted to do so, only to land back on earth with a thud! If you’re ready to get into business by running a residential construction franchise, here are a few tips to help you get started:
- Select the Right Franchise
Choose a franchise that aligns with your skills and interests. If you’re interested in the residential construction industry, look for a franchise specializing in this area. This way, you’ll be more likely to succeed as a franchise owner.
Alternatively, owning a tax or accounting franchise could be a better match if you’re good with numbers and have experience in accounting or finance. Ultimately, the key is to opt for a franchise you’re qualified and interested in to set yourself up for success.
2. Consider the Work Involved
Before investing in a residential building franchise, consider the type of work you want to do. For many people, the appeal of owning their business is the opportunity and flexibility it provides.
However, franchises in the residential building industry generally require hands-on work. In other words, you will need to be involved in the business’s day-to-day operations by being on the job site. If you are not prepared to roll up your sleeves and get into the thick of things, then a residential building franchise may not be the right fit.
3. Have Adequate Space and Equipment
Before investing in a franchise, it’s essential to ensure that you have the necessary space and equipment to run the business from home. For many franchisees, this means having a dedicated office space where you can store inventory, use a computer, and hold meetings with clients.
Some businesses in the residential construction industry require specialized equipment, such as heavy-duty tools or large vehicles. If you don’t have suitable or adequate space for stowing equipment for the franchise you’re interested in, running the business from home could be impractical or even impossible. Therefore, do your homework and ensure you have the necessary space before investing in a franchise.
Ultimately, some franchises are easier to run from home than others. A residential construction business may allow you to run part of your operations from home but requires an on-site presence. If you intend to start the franchise journey in the building industry, Preserve Services may provide you with the opportunity you need.