Trends and Facts About Home Services Franchises
Home services franchises cover a large number of areas including, but not limited to: decoration, property management, restoration, landscaping, repair and handyman maintenance, moving and storage, and renovation. Many franchises in this industry can fall into one or more segments.
1. The home services franchise industry took a blow during the recession, but it didn’t get hit as hard as the general real estate market. Instead of moving, many homeowners sought services to freshen up their home, from minor renovations like painting to major renovations like bathroom or kitchen remodels, in order to increase the values of their homes.
2. All industry observers confirm that the home services industry is growing again at a noticeably substantial rate.
3. A significant aspect of the home services industry growth has been referred to as “aging in place.” As Baby Boomers age, a large number want to remain in their homes. This leads to modifications that allow them to live in their homes comfortably as long as possible.
4. Consumer interest in sustainability, also referred to as green living, will factor into future industry growth. People are becoming more environmentally aware in regards to materials, and are also looking to improve the energy efficiency of their homes.
Examples of Home Services Franchises:
- Disaster Recovery
- Home Inspection
- Pest Control
- Real Estate Brokers
- Security Systems
- Cleaning and Housekeeping
- Renewable Energy
Top home services franchises in Canada include: 1-888-JunkBin, Aire Serv, AlarmForce,Truly Nolen Pest Control, Two Men And A Truck, and Gorilla Property Services.
Why You Should Consider a Home Services Franchise
Home services franchises have a lot to offer to new business owners. If you're looking for a solid and reliable franchise opportunity with rapid growth and tried-and-true business models, you can hardly do better than getting into a home services franchise. We've put together a list of reasons why a home services business might make sense for you.
Most home-based trades deliver essential services to customers, so you'll likely never hurt for steady work. Most homeowners will eventually need a plumber, electrician, paver, roofer, landscaper, or other trade professional. Because things often break in ways most homeowners can't fix on their own, you can count on work that you can charge a premium for.
High Earning Potential
The home services trades are generally among the best-paying jobs available for skilled workers who don't have professional degrees. According to the Bureau of Labor Statistics, the median salary for electricians is $60,240, while even entry-level laborers average nearly $40,000 a year. As a franchise owner, you stand to take home significantly more than even these averages.
Diversity of Offerings
A lot of different jobs fall under the umbrella of home services. This diversity creates limitless opportunities to expand and grow. As your franchise business matures, you can add new construction and renovation to your basic repair services, or you can hire a roofer and add valuable new skills to your offerings. If you're working as a plumber, consider adding septic tank services, or if you're working as a paving contractor, you can hire a mason and start building or maintaining walls. The potential is as big as your company insurance can handle.
Multiple Revenue Streams
In addition to the wide variety of home services you can offer, there's another business opportunity waiting to offer you multiple revenue streams. If you have experience building and maintaining structures, you may be able to certify as an inspector and add a revenue stream. If you hold a certification in a technical field, consider teaching on the side and hiring your best students.
Most home services franchise owners act as their own boss, deciding how to handle the market's demands. While you have support from the brand you're franchising with, you're generally free to take days off when you need them, work overnights if that's better for you, and schedule your crews to work around your social and family needs, rather than being on call for a foreman.
Low Barriers to Entry
While a certain level of technical skill is needed to thrive in home services, the training typically takes far less time than getting a 4-year degree from a university. The cost to buy into a franchise is also typically lower than what some chain restaurants charge for franchises, and you can get started on some trades from inside a company van or truck.
Ready to Buy a Home Services Franchise?
If you've thought it over and now you're excited to get a start as a home services franchise owner, you can learn more about exciting business opportunities in this fast-growing field by choosing your province and looking through the home services franchises available in your area.