Repair rather than replace: Top 3 home improvement franchises

14/07/2018 08:00 | Start a business

What home improvment franchise is the best for you?

The home improvement industry is a profitable and sustainable sector in which to operate. In recent years, there’s been a significant increase in the number of franchises attempting to make it in the industry. However, the greater competition has resulted in higher standards of service and ensured that some franchises have risen above the rest, becoming industry leaders in the process. Here, we look at three of the most exciting home improvement franchises and discuss what makes them different.

Which home improvement franchise is the best for you?

Magicman

The Magicman business model is centred around providing high-quality restoration services to customers who need repairs performed to hard surfaces, such as wooden flooring, uPVC, metals, stones, ceramics, and glass. Utilising a wide range of tools and techniques, they repair scratches, dents, and chips, amongst other types of damage, leaving the surface looking as good as new. Founded in 1993, Magicman has gone from strength to strength and now boast a franchise network of more than a dozen units. It is renowned for its excellent standard of work and service and benefits from being accredited by several industry watchdogs and regulatory bodies.

To invest in Magicman, an investment of £24,500 +VAT is required. This makes it one of the most affordable franchises around and an excellent opportunity for those looking for a lower cost investment. Magicman is accredited by the British Franchising Association (bfa) and have working relationships with several lenders. This means that anywhere up to 60% of the initial investment required can be borrowed from banks.

In return for your investment, franchisees will be able to trade under the Magicman brand, be granted a guaranteed territory of at least 75,000 households, and be supplied with all the necessary tools and equipment to begin trading. Every franchisee will be put through a comprehensive training course that covers the franchise basics and will receive ongoing support from the franchisor management team.

Mr Handyman

Mr Handyman does the jobs that you don't want to. Whether it’s carpentry, plumbing, or general repairs, this franchise has the technical know-how, determination, and skill to ensure your home is made as good as new. Retaining the services of various types of home improvement specialists, they're perfectly positioned to tackle all jobs, no matter how small they may be. Established in 1996, in the USA, the business experienced rapid growth and was bought out by a dedicated franchise specialist in 2000. Since then, they’ve been expanding the network in the USA and abroad. They now boast over 500 franchisees in countries across the globe.

If you’re considering opening a franchise with Mr Handyman, you’ll need an initial investment of around £60,000. This covers both the franchise fee and working costs for the setup period. Mr Handyman is willing to offer different financing packages to franchisees depending on their background, financial situation, and territory. This means that up to 60% of this total initial investment could be financed if a suitable arrangement is agreed.

Your investment in Mr Handyman is rewarded with the rights to trade under the franchise name, utilise its branding, and be granted an exclusive territory that’s designed to be able to support a successful franchise unit. All equipment, including a van, is included in the price, as well as access to a comprehensive training programme. This generally lasts ten days and covers a wide range of topics, including business management, practical skill development, and franchise process and procedures. By the end of it, you should be ready to get out there and make a success of yourself. However, the assistance doesn’t end there, as the franchisor continues to offer support and training opportunities as your business grows. Conferences, webinars, and regional meetings all occur on a regular basis and allow you to develop your own skill set, network with your peers, and raise any issues you may have with the franchisor.

Furniture Clinic

Furniture Clinic specialises in leather renovation and repair, while also selling a wide range of leather restoration products. One of the most reputable home improvement franchises around, they work hard to ensure that they’re operating at the forefront of the industry and utilising the latest tools and techniques. Their dedicated research team is always looking for new ways to gain a competitive advantage and regularly report their findings to franchisees, allowing individual franchise units to adopt innovative, new practices as and when they can. Founded in 2004, the family-run business has now grown to encompass several sites across the UK, as well as the Furniture Clinic Inc in the USA.

To join the franchise, an initial investment of £20,000 is required. Much of this can be acquired through lending agreements with major banks, though the franchisee must contribute some of the investment themselves. A royalty fee of 5% is payable on an annual basis, though the first year’s royalty fee is waived to allow every new franchisee the opportunity to get their business off the ground.

In return for your investment, franchisees receive all the tools and equipment required to operate in the leather repair industry, are provided with marketing materials and operations manuals, and are enrolled on a comprehensive training programme. The three-week training period will teach you all the techniques you need to get started on leather renovation, as well as in-depth lessons on how to run the franchise unit. Once the initial training period is over, franchisees will continue to receive support and guidance from Furniture Clinic’s experienced management team. The franchise is keen to provide their franchisees with opportunities to expand and are willing to offer additional assistance to those who want to assume control of more than one franchise unit.

Conclusion
All three of the home improvement franchises we’ve mentioned above have the potential to be excellent investments. Each occupies a unique niche in the home improvement market, and all three have demonstrated that their business model is adaptable, sustainable and, above all, prosperous. Potential franchisees looking to open a new unit will have a hard time choosing between them.

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