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Tips For Making A Successful Home Repair Franchise Business

Written by: Candice Clem

Article Overview: A recession-resistant business can be a great blessing, but if it isn’t operated properly, it will never become all that it can be. Here are some easy steps you can take to make your home repair franchise flourish.

Tips For Making A Successful Home Repair Franchise Business

Though it may come as something of a surprise, home repair businesses are often some of the most stable when the economy takes a dive, and the biggest reason for that is a relatively simple one. People are most likely to spend money on what means the most to them, and for most homeowners, the house is one of the things that is most important in life, because it’s the biggest investment the average person will ever make. Therefore, even in recession, people remain willing to spend the money it takes to keep their homes in good repair. For that reason, home repair businesses rarely see a large downturn, even when the rest of the economy is dropping off, like it is now.

The fact that the home repair industry will hold strong in the face of economic downturn may be enough to keep a home repair business afloat, but alone it isn’t enough to keep a business successful. To do that, even in a strong market, takes a good deal of business strength, character, and a small host of helpful practices. For the home repair entrepreneur hoping to keep his small business strong during this downward season, here are a few tips from other home improvement entrepreneurs for pushing your business ahead.

1. Constantly Learn and do New Things

The last thing the owner of any home repair franchise wants to do is pigeonhole himself. Whatever your client needs done, take the steps to learn how to do it and then get it done. Even when clients are only requesting services you’re well versed in, keep your nose in home improvement magazines and websites; learn everything you can, when you need it and when you don’t, because it’s sure to come in handy sometime.

2. Grassroots Marketing is the Way to go

Almost all franchises come equipped with well established marketing plans, which are vital to the success of their franchisees, but absolutely nothing can replace good, old-fashioned grassroots advertising. Building relationships and getting your name out there are the keys. One good idea is to take donuts into the local hardware store on a Saturday morning. Make friends with the staff and ask if you can post an ad somewhere at the counter. Go to neighborhood places like the community center or your church and post your ads there. Send out postcards with company refrigerator magnets or go door to door with door hangers. Visit Home Depot on the weekend and leave your big truck in the lot with your business name and phone number painted on the side where everyone can see it.

3. Seek Guidance in Pricing Bids

If your franchisor doesn’t have a set pricing system, talk to friends and associates in the industry about how best to price your bids, because though labor is what gets the job done, it’s cash flow that keeps the business going. If you under-price, you won’t be able to afford the business, but if you over-price, you’ll never get a job. Either is equally fatal, so seek some help.

4. Price Yourself to Account for "Non-Billable" Hours

It’s tempting to believe that only the hours actually spent building walls and windows count toward labor when you’re billing your clients, but that’s only part of the puzzle. In reality, buying materials, doing office work, and drawing up bids (none of which have any direct impact on how many square feet drywall go up that day) can often account for 25% of your day, and your bids must be priced to account for those hours too.

5. Having a Cell Phone is as Important as Having a Hammer

Very simply, your clients must be able to reach you at all times, and talking to an actual human being is vital. If your business can’t afford to hire a fulltime secretary to answer a landline during work hours, then spend the far lesser cost of having a cell phone on you, so that you can talk to your clients directly. It also comes in handy when a job or task winds up taking longer than you expected and you’re forced to postpone something else for a day or two. You can call up all affected clients and immediately let them know, which is something they are sure to appreciate.

With those tips in mind, the entrepreneur who doesn’t yet own his own business may be wondering what business opportunities exist in the home repair industry. Here are a few franchise opportunities for you.

CTi-Concrete Technology

Serve clients with this business for sale by restoring and beautifying the concrete they already have around their homes. The concept is simple, and so is the business model, requiring no more than one or two employees to assist the business owner with the day-to-day work on client’s pavement. There is already a well established marketing plan, territories are protected, and profit margins are huge, making this a perfect opportunity for a wise work from home franchisee.

N-Hance

This franchise business has perfected a method of restoring and refinishing hardwood floors and wooden cabinetry in a fraction of the time it generally takes, and with no dust or foul odors. Startup is cheap and quick and there’s little overhead, which makes this a low-hassle opportunity for the franchisee, who profits from his labor as well as from the sales of cleaning solutions and tools.

Stone to Foam

Specializing in custom garage floor coatings, this home based business works in association with the Home Depot, whose local stores provide business leads for nearby Stone to Foam franchisees. Five days of training gets franchisees off the right foot, then continuing training keeps them that way, and everything needed for sales and installation is kept in a simple trailer pulled behind the company vehicle, making work a piece of cake.

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Article Tags: average person, building relationships, business strength, donuts, economic downturn, entrepreneur, franchisees, franchises, grassroots advertising, grassroots marketing, home improvement, home repair business, home repair franchise, marketing plans, one people, pigeonhole, recession, repair businesses, requesting services, strong market



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