When it comes to running your own business, there are few more busy professions to be a part of than the handyman and home improvement sector. If you’re ready to be your own boss, work in a profitable industry, and enjoy some great job satisfaction, here’s everything you need to know about starting your own handyman franchise.
With so many more of us staying home, it’s no surprise so many people have decided to take their futures into their own hands again. If you’re looking to make a career change with a handyman franchise, are interested in finding out about the advantages of this sector, or are just a curious observer, here’s how you can start your own handyman franchise.
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What does a handyman franchise do?
Simply speaking, a handyman does it all. This is a sector worth over £15 billion [IBISWorld], making it a highly diverse and specialist part of the UK economy. If you’re skilled with your hands and think you know how to carry out the perfect home repairs and improvements, this could be the perfect franchising opportunity for you. You could find yourself doing:
- Home renovations
- Home improvements and decorations
- Pest control
- Garden care and maintenance
If you think you’ve got what it takes to cover all the bases of the home improvement industry, and are ready to make a business out of it, here’s how you can start your own business.
Why start a handyman franchise?
Starting your own business always comes with difficulties, but with a franchise supporting you through the process, you can look forward to enjoying many of the benefits of running a business while minimising many of the traditional costs. You’ll also:
- Be your own boss
- Have the chance to work in a busy and competitive industry
- A pre-existing customer base and trusted reputation
- Beneficial financial rates and access to funding
- Expert advice and support on everything from recruitment, to marketing, to onboarding
With the support of your franchisor and franchisee network, you can start a home improvement business and get the best out of this challenging sector.
While other industries grappled with the impact of COVID-19 on the economy, the home improvement business is booming. In fact, the home improvement industry today is stronger than it has been in over ten years.
How to start a handyman franchise
1. Focus your services
As a handyman, you’ll work broadly and carry out a few different services. But that doesn’t mean you can’t find a niche. One of the best ways to start earning some big profits from your business is to find a market niche where your business will really excel.
Deciding how you want to specialise your energies should be one of the first decisions you make once you’ve decided you’re ready to start your own handyman franchise. This will not only help you dedicate your resources towards the right goals, but will also help you choose the right franchise for you.
2. Choose the right franchise
But how exactly do you pick the right franchise for your needs? In this busy sector, there are dozens of big, profitable and ambitious franchises, but not all of them will be a good fit for you. You’ll need to taper down a list of potential franchises into a shortlist, before choosing the right franchise for you. To help you decide, there are some important considerations to take into account:
- How affordable is the franchise?
- Will you get the right amount of training and support?
- How many franchising units will you be expected to take charge of?
- What kind of operational area will you be working in?
- Do you share the ethos of the franchise?
- What kinds of working practices are there?
You should have a few of your own questions, but by the end of your research, you will be in a good position to decide which franchises will be a good fit for you.
>> Read more:
- Franchising 101: The Official Franchise Start Up Checklist (Part 1)
- Franchising 101: The Official Franchise Start Up Checklist (Part 2)
- New Year, New Career: No Better Time Than Now to Start a Franchise Today
- Franchising 101: 8 Signs You're Ready to Start a Franchise
- Starting a New Business Doesn't Always Lead to Immediate Success: Here Are 5 Ways to Change That
- It's Never Too Late to Start a New Business
3. Tap into trends
Whether it’s new technology, new ways of working, or new customers, there are plenty of different ways for your franchise to function. There are always dozens of ways to carry out existing work in a new or tech-savvy fashion, and tapping into these new methods can help your business stand out massively.
It could also boost your profits. Customers and clients will be drawn to your home improvement franchise on the basis of how you work, so speak to your franchisor and see how you can tap into some of the new and exciting ways of working.
4. Open your business
The culmination of all of your hard work comes through the signing of some final, but important paperwork: the business plan and the franchise agreement. Your business plan sets out your future direction, financial projections, ways of working and other important details. It will likely go through at least one round of amendments, but this document sets out the rough direction and justification for your business.
Your franchise agreement is a legally-binding document outlining the commitments that both you and your franchisor agree to make. It entitles you to the resources, brand identity, and support of your franchisor, while committing you to working in the way you have already agreed with the franchise. There is always some admin involved in starting a business, but with the signing of these documents, your franchise is ready to go.
Start your own handyman franchise today
This is a sector for the ambitious, profit-minded and capable-handed. If you’re ready to start your own home improvement franchise, this article will have walked you through many of the steps needed to set up your dream business. If this isn’t the right area for your skills, there’s plenty of other opportunities besides. On the UK franchise directory, there are a wide range of franchise opportunities in different sectors, so you’re sure to find the right one for you.
Elliott Fudge, Point Franchise ©