If you’re ambitious and creative-minded, starting a painting franchise is an exciting and profitable choice to make. There are many advantages to running your own painting business, so if you’re considering starting your own franchise, here are some of the advantages that you can look forward to.
As many as three in five employees are looking to make a career change [People Management], and while there may be very different reasons for wanting to start a new adventure, franchising is one of the most popular business models for people to choose to work as.
Whether you’re looking to make a career change for more job satisfaction, want to turn your hobby into your profession, want to run your own business, or are simply after more profits, running a painting franchise could be the perfect choice for you.
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Why start a painting franchise in 2021?
There’s simply never been a better time to start a painting franchise. With all of us spending so much more time at home, home decoration and improvement has risen significantly in many people’s priorities. Of all of the home improvement tasks started over the last 18 months, painting has been at the very top of the list [DIY Week].
It’s clear that painting services are in demand so, in what is becoming a busy and competitive industry, there are some essential skills you will need to make use of. You will need to be:
- Good at communicating
- Capable of leading a team
If you have these skills in abundance, you might well be the perfect painting franchisee. So, with this in mind, here are 4 advantages to running your own painting franchise.
4 advantages to running your own painting franchise
Among the many advantages to running your own painting franchise, you can look forward to some of the following:
1. You’ll have plenty of room for specialism
As a painting business, you’ll have the flexibility to work with whatever clients you feel best suit you. There’s no reason why you’ll need to work with only commercial clients or private clients, as your services will be perfectly suited to both. You’ll be perfectly entitled to specialise in only one sector, or work across as many as you feel you’d like to.
You will likely be supported in this endeavour by your franchisor. One of the greatest advantages of running a franchise business is the amount of additional and ongoing training and support that you’ll be entitled to. You’ll be able to call on dedicated tutors and mentors to help teach you many additional skills, so you’ll always be one step ahead of your competition.
Of all the tasks that befall the new franchisor, perhaps none is as important as the role of training. If the brand is the heart of any great franchise, training is the physical conditioning that keeps that heart beating strongly and consistently.
- Mark Siebert, entrepreneur
2. Job security
It’s no secret that the painting sector, as well as most others, has been negatively affected by the pandemic. A lot of businesses have been forced to close either temporarily or permanently, with many of the unfortunate victims being smaller and more independent businesses. As a franchisee, you’ll be able to look forward to more job security than many of your competitors.
Of all closing franchises in 2018, only one percent cited commercial failure as the reason for closing, meaning that franchising is one of the more secure ways to run a business [British Franchise Association]. As the economy begins to recover and return toward more sustainable growth again, having this additional job security will give you that little bit more peace of mind.
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3. Start-up costs
When it comes to starting your own business, no new venture is ever risk-free. The average cost of setting up a new franchise is around £42,200 [British Franchise Association], but often, the start-up costs for a painting franchise come in substantially lower than that. For example, starting a franchise business with Prokil would set you back a minimum investment of only £30,000.
As franchises are seen as such stable investments, there are also plenty of different financing options available. Oftentimes, major banks are prepared to lend up to 70% of your business’ start-up costs, depending on your credit history, so if you can’t afford the costs upfront, there are still options.
4. New trends
In the past, many painting and decorating companies have used paints containing damaging chemicals for both the environment and the surfaces they are being used on. Since then, however, the industry has undergone a wholesale transformation, and today, there are many companies using far more environmentally-friendly paints.
All this fits into a broader trend: the painting and decorating sector is changing rapidly. There are new ways of working, and new products and new individuals coming to the sector - bringing their ideas and experiences with them. This is creating an exciting and dynamic sector to work in, so there’s never been a better time to run your own painting franchise.
Become a franchisee in the painting industry
If you’re interested in starting your own painting franchise, you should now have a better idea of the potential upsides that you could enjoy as a franchisee. If this all sounds like the right thing for you, you may also be interested in learning a few key tips about running a successful painting franchise.
Or, if this doesn’t quite seem like the right opportunity for you, you may want to have a look at the UK franchise directory, where you’ll be able to see a complete list of franchising opportunities and filter through the right options for you.
Elliott Fudge, Point Franchise ©