Investing in a franchise can lead to an extremely rewarding career, but only if you choose the right one for you. There are a lot of things to look for when buying a franchise, especially if you are looking into ones in home improvement like restoration, landscaping, or a painting services franchise. The painting market has proven to be extremely profitable within the home services industry- a Spray-Net franchise can make over $600,000 after two seasons. This means that there is a lot of potential for success with a home improvement franchise. Here are a few things you should look for when identifying the right franchise opportunity.
How Profitable Is the Industry?
When you are researching different franchise opportunities, it is important to look at the industry as a whole and how competitive it is. The home services industry currently sits at $600 billion. People look to renovate their homes because real estate is very expensive, and the market doesn’t have much to offer. For a fraction of the house value, you can completely transform the look and modernize your property adding value and getting an immediate return on your investment.
Because of such a high demand for home improvement services, franchise opportunities have grown immensely in the past decade. Technological advances are making operations smoother which means more and more prospects can open a home services franchise with much less hassle or need for prior experience. With so much competition and so many options to choose from, it may seem impossible to find the right one for you.
What Is the Demand for the Product or Service?
Another thing you should look for in a franchise opportunity is the demand for the product or service in the market. Home services are always needed for a home, whether its renovating the interior, maintaining the lawn, or using a painting services franchise for exterior surfaces. When it comes to exterior painting, most conventional painting franchises mostly paint wooden surfaces. Because of this, there’s a gap in the painting industry and a demand for a revamp that works on other surfaces. This is where a Spray-Net franchise proves its products’ need and worth.
We are a different type of exterior painting franchise because we service different kinds of surfaces than what conventional painting franchises offer. We have created proprietary paints for vinyl, brick, stucco, and more surfaces that other painting services franchises can’t service. A Spray-Net franchise proves to have a demand for the solution that lies between conventional painting that will require maintenance down the road and completely changing out the siding. We offer a cost-effective solution that will combine the benefits of both, which is why it can be such a profitable investment. It is important to research the demand for a franchise so that you know exactly what to expect when you start with yours.
What Comes with the Investment?
One of the biggest things to look for in a franchise is what you get for the investment. Home services franchises cover a wide range of startup costs, but it isn’t so much about the numbers – it’s about what you get for the price. A good franchise investment will cover all you need to get you operationally ready from day one, such as training and support, systems and software, a starter kit, marketing, and other resources to help you get started on the right foot. Since the industry is so competitive, having these things planned out right off the bat is imperative to starting on the right course for success. With a Spray-Net franchise, all of this is covered and more. We even go above and beyond by marketing for your location locally so that you can generate local awareness and eventually some leads. This marketing falls into an annual investment. Finding out what the investment comes with is important when you are looking into franchise opportunities.
How Much Can You Make?
Another important thing to consider when looking into franchises is how much you can make. Every prospective franchisee wants to know what their return on investment (ROI) will look like, and there is one way to go about it. The Item 19 in their franchise disclosure document (FDD) breaks down the potential franchise profit a location can have. The Item 19 is an optional section in the FDD where franchisors can put estimations based on how much other franchisees have made. This helps prospects determine how much they can expect to make and what their ROI may be, but franchisors are not required to share this information. Here at Spray-Net, we believe that transparency is important between a franchisor and a franchisee, which is why we proudly display how much you could potentially make on our website and in our FDD. We even encourage prospects to talk to franchisees during the sales process to ensure that a Spray-Net franchise is right for them.
We are different than other painting services franchise opportunities. Our approach fills a demand in the exterior painting industry that is not being filled otherwise. In addition, we have patented processes that make our paints customizable to different conditions we face on site, so our franchisees are offering the best products on the market.
Find out how you can get started with a painting services franchise by contacting us today.