SVP of Franchise Development explains why owning a wood refinishing franchise is a wise choice for entrepreneurs during this pandemic
Since Covid-19 hit our country, consumer behavior has changed overnight. Not only are millions of Americans practicing social distancing at home, but many independent operators are shutting their doors while ‘essential’ businesses are thriving during this pandemic.
Fortunately, the economy, which was hot before the pandemic, is expected to quickly rebound and the housing market shows no signs of slowing. With so much time spent in homes, consumers are busy thinking about what they want to improve. Because N-Hance offers an affordable option to redo a kitchen or refinish wood floors, it is well-positioned to take advantage of pent up demand as the country comes back to life.
Founded in 2001, N-Hance Wood Refinishing now has more than 500 franchises across three continents. As the fastest-growing wood refinishing franchise in the United States, we provide a service that truly connects with the homeowners we serve. Our beautifully restored cabinets, hardwood floors and more, at a fraction of the cost and time compared to replacement and traditional refinishing, give our franchise owners the opportunity to blow away the competition and create a trustworthy reputation in the market.
In this wide-ranging interview, D’Wayne Tanner, Senior Vice President of Franchise Development, shares everything from what makes N-Hance a best-bet investment to why franchising is more attractive than ever.
With millions of Americans practicing social distancing at home, not only will they come out of this with new radical expectations of cleanliness, but also being home is allowing them to become clear on what they want to change in their homes. What makes N-Hance attractive for those people?
Tanner: People are spending more time at home with their families and are realizing how valuable family time is. Additionally, they are realizing that they may not like certain spaces in their homes and are looking for ways to make them more livable for themselves and their families. With N-Hance, we are able to provide customers with the look and feel they want at an affordable price, which is very attractive to them. For instance, replacing kitchen cabinets would normally cost $20,000 to $30,000. However, N-Hance can do it for $3,000 to $7,000.
We can see that there will be a ton of demand once this pandemic ends and our franchisees will benefit from it.
Many independent businesses are currently struggling, while franchise owners are thriving from the support of their franchisor. What’s beneficial about being a part of a franchise system?
Tanner: Over the last couple of weeks, I’ve thought often about what someone would do if they were in this by themselves as an independent cabinet maker or installer. I think it’s tough enough operating a business with the help of a franchisor, given today’s environment, but doing it by yourself seems unimaginable at this time. I think franchising, as an industry, is really shining right now because we provide resources, tools and support, and the franchisees know that they are truly never in business alone.
At N-Hance, we consider our business a family business. We treat our franchise partners like that to ensure they have the support they need. Although this is a tough time for our country, it’s a time that really showcases a franchisor’s strengths, the tools we are able to provide franchise owners and what franchising is — providing entrepreneurs with more of an opportunity for success immediately and in the future.
Why is now a good time to invest in an N-Hance franchise?
Tanner: For starters, our initial investment is less than $100,000 and there is no need for a brick-and-mortar location. Though we provide aggressive in-house financing for our franchisees, the SBA has also stepped up at this time to pay the first 6 months of loan payments for anyone starting a business at this time.
These challenging times have also taught us that we have to continue innovating and evolving, which is why we launched a program to provide virtual assessments on homes. When it comes to major home remodeling projects, few cost as much as a kitchen renovation, but none drive as much JOY to the consumer. Regardless of the size of the project, homeowners are still looking to save money if they can. At N-Hance, our product line features solutions for hardwood floors, kitchen cabinets, doors and more, and we are winning acclaim for our affordability, customizable product line, and our ability to complete jobs quickly and with no mess, no cleanup and no odor. Our franchisees delight customers!
Our wood refinishing franchise was thriving before this crisis — and it will do so again when it ends. As a franchise opportunity, our business model is designed to be friendly to first-time entrepreneurs. If you’re looking for a business opportunity that offers high margins, a simple business model and robust training and support over the long-term to ensure longevity, N-Hance is the perfect franchise for you.
Learn more about the N-Hance franchise opportunity
N-Hance is a low-cost, highly-scalable investment opportunity with the potential for high returns. The total investment estimate to begin operations ranges from $51,970 to $167,023, which is significantly lower than other home restoration franchises or concepts within the home remodeling industry. The franchise fee for your first territory typically ranges from $13,259 to $46,028.