Starting a Handyman Franchise
in Your Town
Opening a handyman business, and thinking about starting a handyman franchise? There are several franchises to choose from.
When deciding between franchises, you should consider the best fit with your personality and interest. For instance, by owning a Mr. Handyman franchise you are strongly encouraged to stay out of the actual day-to-day handyman work, and simply hire, market, and manage your handyman business.
This is by no means a complete listing, but a good start on research to give you startup costs and details in one place, take a look at this handyman franchise listing at Franchisegetor.com.
Before making a final decision, talk to friends, family, and professionals you trust to see if you've heard about the company(ies) you're thinking about approaching. See if they've heard anything about them - good or bad. A bad reputation can ruin a business quickly, or make it extremely difficult to start one.
On the other hand, a good name, strong business model, and superior training program can cause you to by-pass many simple and common mistakes new business owners make.
From a business perspective, if you decide to pursue a franchise instead of going it on your own, you should be aware of the following pros and cons:
- Franchising companies generally offer training on how to run a business
- ...how to market your business locally
- ...and may even give you tips on handyman matters
- A handyman franchise is often established and has a good name (check this out before finally deciding!)
- ...therefore a franchise name gives you credibility before you even do your first job
- For most franchises, you get nation-wide marketing
- You'll need money/ other resources to cover franchise fees: anywhere from $20,000 - to over $100,000 start up capital
- A percentage of your gross profits (hovering around 5% - 10%) are paid to the franchise annually
- Lawyers and accountants will need to be involved from the beginning (fees included in above?)
- Generally speaking, you do not have total freedom of how you operate your business - there will be franchise rules and regulations to comply with.
- Once you choose a franchiser, there is no guarantee you will pass their franchisee approval process
The above tips certainly do not capture all aspects of starting a franchise, but they give you an idea of what you're getting into.
Whether you are hanging a shingle out as an independent, or starting a franchise, you need to research carefully all aspects of opening your business. Find a trustworthy lawyer and/or accountant, and/or franchise owner to guide your research.
It is your money and your time - protect it and invest wisely!
Thanks for showing me about handyman franchise stuff. Take me home.