Too many contractors are far more involved in the day-to-day operation of their business than they should be. They’re focused on contracting work, not on growing their company.
The results are predictable. Too often, small contractors reach a plateau. They achieve one of the goals they had when they started the company, but don’t know what to do next. Growth has stalled. Leads are stagnant. Added services barely pay for themselves.
It makes sense. Many contractors started their own business because they love what they do. But being a good leader and owner requires different skills than field service does. It takes vision and a strategic perspective. More than anything, that kind of continued growth takes a system designed specifically to support small businesses and help them experience long-term success in their market.
That’s where home service franchises enter the equation.
The familiar stalled growth that so many small independent contractors see ultimately comes down to leads, sales and marketing. Proven, repeatable sales systems are often what separate the large players from their smaller competition. That’s what the big boys have, and that’s what franchising gives you that helps level the playing field and drive exponential growth.
A successful home service franchise offers sales and marketing systems similar to those employed by large companies with $50 to $100 million in annual revenue. These systems can be easily implemented and replicated over and over again, empowering contractors to focus on what they do best.
In addition to streamlining operations and kickstarting sales, contractors who diversify their existing business by adding a home service franchise (or converting their business to a franchise brand) can deliver complementary services that they otherwise would not have the resources to offer.
A plumbing company, for instance, could add a proven bath or kitchen remodeling franchise to efficiently and productively expand its service offerings. Launching new remodel services on its own would require a major investment from most small or independent plumbing companies. It would also involve significant financial risk. Implementing a franchise system, on the other hand, can decrease the risk and streamline the process, enhancing the company’s profitability potential.
Many small, independent contractors offer a variety of general services; bringing on a franchise service such as shower remodeling allows them to provide immediate expertise in a niche market by building on what they already do well and adding proven marketing and sales systems.
Specialization is one way home service franchises offer value for contractors. Many small, independent contractors offer a variety of general services; bringing on a franchise service such as shower remodeling allows them to provide immediate expertise in a niche market by building on what they already do well and adding proven marketing and sales systems.
For a contractor in the home service space, adding specialized services via a franchise means the nuts and bolts of business operations are already accounted for. The addition of focused service offerings supported by franchise systems allows contractors to bring in new revenue streams into their business with reduced risk and minimal investment of time and effort.
Franchise systems are designed to help anyone quickly launch and operate a new business. Many very successful franchise owners had little or no experience in their industry when they started. Adding a franchise system to an existing business expedites the process, powering even greater opportunities for rapid growth. Combining the resources and experience of an existing business with a franchise system puts new franchise owners ahead of the curve, allowing contractors to focus on execution and shortening the amount of time it takes to get up and running and start seeing profitability.
In many cases, adding a franchise can be the best thing a small contractor could ever do. Many business owners have great skills in their trade, but they don’t have the sales and marketing insights that are necessary for sustained growth. Having repeatable sales systems is critical for success and growth in home services, but those systems are hard to build. Don’t be afraid of franchise opportunities. If you’re curious or looking for ways to accelerate your company’s growth, consider the benefits of a home service franchise.