Owning and operating a home care service franchise offers many benefits over starting a business. A franchise will have an established name, an existing and tested business plan and ongoing support from the franchisor. You will reap the benefit of having the ground work already laid out for you when you buy into the franchise.
As with any business, there are no guaranties when you purchase a home service franchise for sale. While the franchise is established, opening your own branch will involve a lot of time, money and effort. You must be certain the franchise you are considering is right for you and your skill set. There are many things you should consider before investing in a home service franchise opportunity, such as:
1. The costs involved, such as the fees to purchase home services franchises, marketing expenses, royalties and inventory.
2. How many areas you will need to conform to the franchisor's guidelines on how the business is to be run.
3. Whether the franchise has a recognized name or brand.
4. Will the franchisor provide training for new employees?
5. Does the franchisor help you find the right locations for your new business?
Action Steps
The best contacts and resources to help you get it done
Hire a consultant to help you decide on a home service franchise opportunity
A franchise consultant will help you investigate whether purchasing a franchise will be beneficial, what type of franchise you are suited for and how to get started.
I recommend: Contact a consultant at
the Bibby Group or
Franchise Buyers Network to help you start the process.
Locate franchise opportunities for home services
Once you have decided to make the investment you will need to find out what home service franchises are available.
I recommend: Browse through websites such as
Franchise Emporium,
Franchise Direct,
Red Hot Franchises.com LLC or
FranchiseGator for available home service franchising opportunities.
Consult a lawyer when investing in the home service franchise industry
A lawyer will help you understand the contract you must sign with the franchisor and explain any legal obligations you will be facing after making the purchase.
I recommend: Get help from franchise law experts at the
Law Offices of Nancy L. Lanard or the
Franchise Law Team.
Confer with an accountant before buying a home service chain
A certified public accountant will investigate the financial history of the franchise you are interested in, explain other expenses involved in buying a franchise and help you understand your earning potential.
I recommend: Seek out an accountant at
AccountantsWorld or the
CPAdirectory.
Tips & Tactics
Helpful advice for making the most of this Guide
- Learn about the growth rate of the home care service franchise in which you want to invest.
- Find out if home service franchise opportunities are regulated by your state government and, if so, how.
The official source of Home Service Franchise Opportunities is
the Home Service Franchise Opportunities page at Business.com
Related Resources from Business.com
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