News & Articles
Renovation Franchise Cost: 5 Upfront and Ongoing Costs to Expect
You’re thinking about opening a home improvement franchise, but now as you begin to research, you’re noticing lots of dollar signs. It can be challenging to decipher the true costs. Plus, everything’s adding up quickly. Curious about what your renovation franchise costs will be? Here are five expenses you can expect. 1. Initial Franchise Fee A franchise fee is your cost of entry into the brand. The payment unlocks the door to the franchisor’s proprietary [...]
Woodworking as a Business: 5 Reasons to Open a Cabinet Franchise
If you’re considering woodworking as a business, learn all the different types to choose from and which one would provide the best path to financial success. Here’s what it takes. Types of Woodworking Businesses According to Profitable Venture, woodworking accounts for 4% of the total U.S. manufacturing GDP. If you’re looking to work with your hands and provide a service, there are many options for woodworking businesses. Here’s a look at some that Builderology lists: Custom Furniture Business: Requires [...]
The Rise of the Home Improvement Industry: A $450 Billion Market
By the start of 2023, the Joint Center for Housing Studies expects home improvements and repairs to expand to a nearly $450 billion industry. The home improvement industry has been growing at unprecedented rates since the pandemic. Here’s what’s driving sales today and where the market’s headed. Growth of the Home Improvement Industry The industry saw a spike in improvement projects around the house in 2020. Whether it’s a do-it-yourself project or a do-it-for-me one, researchers don’t [...]
Royalty Fees vs. Franchise Fees: The Costs of A Home Services Franchise
Franchise startup costs can be as low as $10,000 to as high as a couple of million. But what’s included in that price tag? Here’s everything you need to know about franchise and royalty fees, why they’re paid, and what they cost. Behind the Franchise Fee Basically, franchise fees are the payments made to the franchisor for their great idea. It’s like a cost-of-entry fee. It is a one-time payment at the beginning. The U.S. [...]
Selecting a Flooring Franchise: 5 Factors to Consider
Wear and tear are inevitable on hard floor surfaces, and virtually every home and business across the country has them. The National Association of the Remodeling Industry finds that homeowners can recoup 147% of costs when refinishing their floors. So, if you're looking to get in to a franchise, floor refinishing is the perfect niche. Here are the five factors to consider when finding a flooring franchise that meets and exceeds your needs — and [...]
Inside the Remodeling Franchise Boom: 5 Factors Driving Success
The covid-19 pandemic threw a kink in the economy and hit the real estate market with a tidal wave. Covid-19 forced people to stay inside their homes. Now, people are turning their current homes into their dream homes with renovations. According to the Joint Center for Housing Studies of Harvard University (JCHS), year-over-year increases in housing renovations will hit 19.7 percent this year. For perspective, at the beginning of 2020, it sat at 3.2 percent. [...]
How to Open a Kitchen Remodeling Franchise: Costs, Requirements, Steps
The world is everchanging, and so is the style of homes. In this housing market, people look for ways to stay in their homes but upgrade them to what they want. This makes it the perfect time to join the booming $450 billion residential remodeling industry. Here’s what it takes to open a kitchen remodeling franchise. How Much Should I Expect to Pay? If you were to open a remodeling business on your own, your [...]
Choosing a Low-Cost, High-Profit Franchise: 7 Critical Tips
Choosing a low-cost, high-profit franchise requires careful research. While there are several lower-cost franchises to buy into, it’s your money and time that you’re investing. Here are the top seven things to research to find a cheap franchise with high earning potential. Choosing an Industry As a potential franchise owner, you want to ensure growth potential. The pandemic had a significant impact on our lives, including where we spend money. As a result, several industries [...]
Family-Owned Businesses Succeed By Segmenting Roles
Family-owned businesses face a few unique challenges that other businesses don’t have to consider According to The Small Business Association, family-owned businesses often have trouble separating business from pleasure: “Small businesses are often like family, with co-workers caring about each other,” the association writes. “But when that family is actually family because of relationships by blood or marriage, special problems can arise. It can be challenging to make business decisions and operate without bringing personal [...]
How Do I Get Customers for My Family Business?
Fastest-growing wood refinishing franchise in the nation is connecting with homeowners in a big way When you research business opportunities for your family, a brand’s ability to connect with consumers should a key criteria in making your decision. One of the best reasons to franchise with N-Hance is our commitment to growing our brand’s profile across the nation, as well as our strong ability to help our franchise owners get established in their communities quickly. [...]
