H AVE YOU R SAY
Douglas Smith | Senior VP of Franchise Development | BELFOR Franchise Group
Service-Based Franchising: A Pandemic-Resilient Opportunity “essential” in good times and bad – let’s dive into why there is no better time than now to join a service-based franchise.
Demand for a Hand
Douglas Smith
There is no doubt that the pandemic has created challenges for the business community over the last 15 months. But it’s during difficult times that you can show just how strong you are. That attitude of resilience is what unfolded among many industries, organizations and small businesses across the country and especially for service-based franchises under the umbrella of BELFOR Franchise Group (BFG), with several of its brands having record-breaking years in 2020. There are many lessons to be learned from home-services franchises, which are truly
Franchising USA
Homeownership skyrocketed in 2020, with the number of homeowners increasing by an estimated 2.1 million over the previous year, according to Census Bureau data. Additionally, as 71% of American workers spent time working from home due to the COVID-19 pandemic (Pew Research Center) this has created an unprecedented demand for a number of home service and safety offerings as residents looked to fix, update and transform the place where they now live, work and play. Therefore, creating increased opportunities for niche home service brands, and those known for being “handy.” Exhibit A: The impact of the global pandemic has made indoor air quality a mainstream concern, and likely a demand long after the virus subsides. That’s a major reason why DUCTZ’s air duct cleaning and HVAC restoration services, provided by trained technicians using the latest equipment and tools, are in such high demand to improve indoor air quality within homes and businesses. There’s also been a tremendous shortage of plumbers in the U.S., and Z PLUMBERZ – which provides professional, reliable plumbing services for everyday disasters, as well as emergency and preventive repairs and installations – is filling that void. After all,
every homeowner relies on their plumbing system to work for their health, well-being and overall quality of life. Perhaps the greatest success story of the pandemic is The Patch Boys, a drywall repair company specializing in small patch jobs or ceiling repairs that most home contractors avoid. Whether it’s caused by children bouncing off the walls, one misplaced whack of a hammer when hanging up a picture, or when a mover’s clumsy handling of furniture leaves a scrape or hole in the wall, drywall damage is an experience millions of Americans deal with every day. As a result, this is a high-margin business without significant competition, and The Patch Boys network has grown quickly and experienced consecutive months of record sales over the past year.
Why Join a Franchise? If you’re thinking, this all sounds great, but why can’t I just start a similar business on my own? Well, let me start by saying there are clear advantages among the many factors to consider when deciding whether to pursue franchising versus starting an independent business. In terms of finances, while purchasing a franchise typically requires a higher upfront cost, it also gives you immediate access to a reputable and often well-known brand name – helping to attract clientele and get the business up and running more quickly. It is of course
