With more people turning their homes into their workspace and classroom and rising mortgage interest rates, the need for home improvement and maintenance services is higher than ever before. In response, many people are choosing to fix up and stay put in their homes, creating a growing need for home improvement and maintenance services.
This is where "need" vs. "want" franchises come into play. As a franchise consultant, it's important to help my clients understand the difference between their needs and wants when it comes to starting a business. For example, home improvement and maintenance franchises are considered "need" franchises, as they provide a necessary service for homeowners looking to accommodate their changing lifestyles.
Franchises such as handyman services and painting companies are great examples of this type of "need" franchise. Not only do they provide a valuable service to homeowners, but they also offer a flexible business model for franchise owners.
Unlike many traditional franchises, these types of franchises do not require or even want the owner to do the work themselves. Instead, the franchise owner hires subcontractors or employees to execute the work while they focus on managing.
This type of franchise not only fulfills a growing need in the marketplace but also offers a low-stress and flexible opportunity for franchise owners. It's a win-win situation for both the franchise owner and the homeowner.
The rise of home improvement and maintenance franchises is a positive trend, as it provides a necessary service to homeowners and a flexible opportunity for franchise owners.
Are you interested in providing a valuable service to your community while building a successful and rewarding business? If so, please schedule a brief call here.
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