Taking advantage of handyman franchise opportunities is a great idea for anyone with some home repair know-how. Hopeful handyman franchisees such as yourself need to be on the lookout for opportunities in the field. With many Americans becoming too busy to do home repairs on their own, handyman businesses have been on the rise in the United States. However, you may not know what actions to take or features to look for. We will teach you how to check for handyman franchise opportunities.
Decide On The Type of Franchise
There are essentially two types of handyman franchises for you to choose from. The first choice is a do-it-all handyman franchise which offers a broad selection of services. These services range from small, simple repairs to more demanding remodeling jobs. The other option is a niche handyman franchise. This type of franchise is more focused on specific areas of home repair. This could include plumbing, electrical, or gas. When checking for handyman franchise opportunities, first decide on the type of franchise that you want to own.
Find Manageable Minimum Cash Requirements
When checking for handyman franchise opportunities, look for franchises with manageable minimum cash requirements up front. All handyman franchises require franchisees to pay a fee in order to start their business. Though this fee varies, $50,000 is pretty standard across the board. If you cannot afford that high of a buy-in fee, you do have cheaper options. However, cheaper buy-in franchises often ask for higher royalties. You will have to decide between paying less up front or paying less in royalty payments. As you check for handyman franchise opportunities, be on the hunt for manageable minimum cash requirements.
Ask About Training
Before committing to a handyman franchise opportunity, ask about training that the company offers. This training involves more than just home repair techniques. It covers marketing strategies and management advice as well as many other features of running the business. The best franchisors include leadership training classes in their programs. Many handyman franchises offer training to franchisees before opening their business. Some franchises also provide on-going training to owners and their employees as the field changes and develops. Knowing the training options available to you is an important step in checking for handyman franchise opportunities.
Research The Location Demands
All handyman franchises have different location demands, so do your research before taking advantage of a handyman franchise opportunity. These location demands may dictate what states and cities you can open a franchise in or how close you can be to another franchise. Some franchises allow you to work entirely from home while others require that you rent out a commercial office or warehouse. As you check for handyman franchise opportunities, research the location demands to ensure you can handle the requirements.
Look For SBA Approval
Approval from the Small Business Administration is an important thing to seek when checking for handyman franchise opportunities. SBA approved franchises often allow you to have your business loans expedited. This means that you will save time and get your franchise up and running faster. Approval from the SBA also means that the franchise has been well researched and meets acceptable control guidelines. Knowing that the franchise is already approved means you can expect a higher quality of business. Having approval from the SBA gives you confidence in the business as you check for handyman franchise opportunities.
There are numerous opportunities for opening handyman franchises. As you check for the opportunities you would most like to take advantage of, you first need to decide on a type of franchise. Find franchises with manageable minimum buy in prices to ensure you are using your money wisely. Then you can get into the logistical side by asking about training offered and location requirements. As you check for opportunities, look for SBA approved franchises. Now you can go on in confidence knowing how to check for handyman franchise opportunities.