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 startup costs would be around $50,000 to $75,000. Remember that starting on your own comes with no reputable training, advertising, or coaching. Meanwhile, buying into a remodeling franchise can cost anywhere from $50,000 to $200,000.
How Much Does an N-Hance Franchise cost?
With N-Hance, the No. 1 Cabinet Refinishing Company in the U.S., the initial investment starts as low as $58,000. This includes your initial license fee, initial new business set, equipment, product package, marketing package, operations package, business vehicle, rent, telephone, business license, travel expenses for training, insurance, computer system, advertising, permits, and licenses. Depending upon your situation, you may not even have to pay for some of these expenses. A significant benefit of a kitchen remodeling franchise is that it’s mobile, which means you do not have to pay for a storefront.
Not only with those fees are you getting the training to run a kitchen remodel franchise, but you are buying into a proven system that works. N-Hance has a research and development team working on new products, technology, and services every day. This background work allows you, a franchise owner, to provide your best work to the customer.
Making a Return on Your Investment
Now you see what it costs, but how quickly can you make that back? The demand is high for home improvement projects, but homeowners are still looking to save on their projects. The Washington Post reports that homeowners are more willing to invest in projects that cost less than $20,000. Of the top 10 percent of N-Hance franchisees, the average cost per job they perform is $6,122.
You are not cornered to just cabinet refinishing when you are an N-Hance franchise owner. N-Hance provides multiple revenue streams. It also offers kitchen cabinet door replacement, hardwood floor refinishing, floor sanding, railings, doors, and furniture refinishing.
Do I Need Experience?
You just finished watching three hours of HGTV, and now you feel like you can remodel the entire house. Despite what you think, that is about as much experience as you need to start a kitchen remodeling franchise. N-Hance requires no prior experience in remodeling. But to be successful, you should have leadership experience, confidence, an entrepreneurial spirit, and drive. N-Hance provides you with a proven model; you’re in charge of bringing success to your community. Other qualities that will make your business flourish are being detailed-oriented, dedicated, and building relationships with clients.
Don’t worry. As a new kitchen remodel franchise owner, you will not be thrown out to the wolves. N-Hance created a 9-day Hands on training class. It’s held at the company’s headquarters in Logan, Utah. The hands-on training course includes the completion of actual jobs in the homes of real customers, leaving our franchise owners primed and excited for their first projects. In addition, N-Hance has created N-Hance University, an online resource full of webinars and online training on every aspect of the business that is used both while at training and when you’re back in your home market. You can also use the training, both online and in Utah, for onboarding new employees in the future.
IBISWorld reports that the remodeling industry has grown 4.4 percent per year on average in the last five years. Now is the time to get in the game of remodeling. With N-Hance, the average sales volume of the top 25 percent franchisees doubled between 2014 and 2020. The average revenue of our top 10 percent of franchise owners reached nearly $1.2 million in 2020.
The N-Hance process is uniquely ours. We use a chemical abrasion process to reduce sanding, which keeps dust out of the air, our water-based polyurethane finishes that are friendlier to the air you breathe and the environment, and a Lightspeed ® U.V. system that instantly cures the wood surfaces it encounters. Most projects are completed in less than a week, not to disrupt customers’ lives. According to Forbes, the average kitchen remodel is over $64,000. With the N-Hance process, you can help your customers make a kitchen transformation at a fraction of the cost.
What is the process?
So, you’ve decided you want to buy into a home improvement franchise. The next step is to request franchise information. First, you will receive the franchise information packet to help you determine if you are pre-qualified. After that, you’ll set up a discovery call, find your market, and meet with your development director to determine startup cost and learn more about your aspirations for business ownership and success.