Franchising in the home services industry allows you to play a pivotal role in helping customers enjoy their homes, especially now that homes are also offices, schools, movie theaters and restaurants. Home service franchises are rewarding in other ways, too. Read on to discover how.
Home Service Franchises are Essential Businesses
As you explore franchise opportunities, it’s important to consider how your business will fare during uncertain times. Most home service businesses are classified as essential. In fact, when people are spending more time than ever in their homes, maintaining them becomes even more crucial.
Home service franchises, like lawn and garden care businesses, help customers enjoy more of their space even when the world feels a little smaller than usual. Because home services franchises are essential, you will be able to provide these moments of joy for your customers no matter the circumstances.
‘Home Service’ Businesses Can Also Be B2B Franchises
The category “home services franchises” can be a bit of a misnomer because many of the franchises under this umbrella also work with commercial clients. Franchising in the home services industry could be your opportunity own a business-to-business (B2B) franchise.
There are many benefits to owning a B2B franchise. For example, business clients are a great source of recurring revenue. This is an opportunity for cleaning franchises, including maid services and window cleaning, to secure contracts for regular service. Business clients are also more protected against budget and economic fluctuations; they have the means to continue maintenance services even as other clients have to cut it from their household budgets.
Home Service Franchises are Less Susceptible to Trends
Trends come and go. But, as long as people live indoors, home service franchises are always needed. When you franchise in the home services industry, you know you are investing in a business that’s in it for the long haul.
Even as economic circumstances change, many home service businesses find themselves to be recession resistant. This is because appliances will always break, windows will always need to be cleaned and homes will always need to be inspected.
These are services that many homes and businesses can’t survive without, especially because consumers would rather fix or maintain what they already have instead of buying a replacement. Home service franchises are less susceptible to changing attitudes than businesses in other industries.
Home Service Businesses Benefit from a Large Market
By the end of 2019, the homeownership rate in the United States was 65.1%. That means most homes are occupied by the people who own them and there is a huge market of potential home service franchise customers. Of course, the percentage of homeowners varies by individual market, which is something you should discuss with franchise development representatives, but overall, home ownership remains important to many Americans which can be great for your home service business.
As you progress in the franchise process, it can be helpful to do an internet search to determine how many homeowners live in your desired market. Resources, like the United States Census Bureau, should give you excellent insight into the potential size of your desired market.