St. Louis Improvement Franchise
A St. Louis Home Improvement Franchise might be the ticket to you becoming your own boss. Read more to learn how ‘That Franchise Guy’ can help you select the best home improvement franchise for you.
When it comes to starting your own business, the biggest concerns for most entrepreneurs include the risk involved, the initial investment required, and having the all-important knowledge of the best practices in the business.
This is exactly why opening a St. Louis Home Improvement franchise is such a popular option of those looking to be their own bosses but wanting to keep it as safe as possible.
Franchising is where an established business (a franchisor) licenses out the right to sell its product/service, its know-how, its procedures, its brand, and its business model to another new business (you, the franchisee).
What makes franchising such an attractive option for those wanting to start out on their own in the business world? Several things:
- The return on investment can be higher than a do-it-yourself startup
- It is easier to secure a loan from a lender for a franchising arrangement
- There is a lower risk of failure since you are selling an established product using set procedures and best practices with an established business model
- You have access to the stronger support system of the franchisor including their training programs and instruction manuals
Is Franchising For You
There is another important question to consider: Is franchising for you? There are some factors to consider when deciding on whether franchising is the right option for you:
- The degree of risk you are willing to take: Some of us are natural risk-takers while others are risk-averse by nature. Additionally, our circumstances can also determine how much of a risk we can afford to take. Those who want the safer option of starting a business of their own will find franchising more suited to their comfort level.
- Nature of business you are planning to pursue: To succeed in some markets, knowledge of best practices and expertise in the relevant field is a basic requirement. If you are planning to enter such a market, then franchising will make a lot more sense than its alternatives because it ensures you have access to the relevant knowledge and expertise required to succeed right from the beginning.
- Budget considerations: This is one of the most important factors to consider when starting a business. If you have a limited budget, franchising might not be a viable option. Start up costs can vary by franchise. And, even though funding might be available, a certain amount of up-front cash will be required.
- Is this your first outing as an entrepreneur: Starting and running a business is a science of its own. It requires expertise and innovative thinking. For those with prior experience of being their own boss, going out on their own might not be as challenging for them. However, for those of you who are taking their first step into the entrepreneurial world, franchising can be the ideal way for you to learn from the experts on how to go about running a successful business.
St. Louis Home Improvement Franchise
If you have decided on the franchising route, then the next logical question is which business to choose. One universally popular franchising option is a home improvement franchise. There are several reasons that make home improvement franchising a very good option for you:
- It offers a stable market: Home improvement covers a lot of ground from minor renovations to complete home makeovers. This market will exist in an economy no matter what the situation is. The nature of home improvements may change due to economic conditions, but the need for home improvement services will remain. A stable market is always a huge plus when choosing a franchising option.
- It requires market relations and expertise: Home improvement requires use of raw materials, employment of various professionals, and so much more. All of this is best available to a business that has been in the industry for a while, having developed relations with suppliers, professionals, and others. As a franchisee, you will be able to benefit from your franchisor’s connections in a huge way, which is of the essence for surviving in this industry.
- Franchising is a proven business model: Franchising has existed for years and continues to grow in popularity. It’s success rate, thanks to its solid business model as well as the potential return on investment, make it an appealing option not only for new entrepreneurs but also established small businesses looking to expand their reach.
Home Improvement Franchising
If you are a St. Louis resident and considering franchising, then home improvement should be on the top of your list of considerations.
A St Louis consultant was quoted in a Bizjournal article as saying that home improvement franchising will be among the top 5 franchising options in St. Louis in the post-pandemic economy. And, with the way real estate and home improvements have seen a boom during the pandemic in most parts of the country, it is safe to assume that the home improvement market of St. Louis too is a place of many opportunities.
So, if you want to want to start a business with limited risk, high chances of success, and the likelihood of lasting a long time, then think about investing in the St. Louis home improvement franchising market today.