The Restoration Company Business can be a lucrative and attractive industry. With much of the income paid for by insurance carriers, the lion’s share of the revenue comes from a third-party provider as opposed to being paid for directly out of the consumer’s pocket. When handling work in the water damage sector, mould remediation and fire damage areas, this type of work doesn’t slow down when the economy dips.
The restoration industry also is attractive from the perspective of start-up investment costs being that a new business in this industry segment requires only $30k – $100k in most cases.
As a business owner in the Restoration Services industry segment, you should be considering ways to expand the operations and grow the business. Franchising has been proven to be a viable and lucrative expansion option for many restoration companies.
Paul Davis, Puroclean, Servpro and Service Master have all franchised their restoration businesses with great success and opened thousands of locations in new markets. When considering how to franchise a restoration business, although there has been a past success, several questions must be answered prior to launching your own franchise organization.
- Do you have a professional brand?
Franchising a restoration company has little to do with the way or the quality that you perform the actual restoration services. The brand that you have built and the level of professionalism that it conveys are of more importance when considering a franchise launch.
- Does your restoration business have a proven and effective marketing model?
When franchising a restoration business, the most critical and important element related to your franchisee’s success is their ability to find and acquire profitable client jobs. You need to have a system in place that has been proven to work in marketing your restoration services.
- Do you have the time and bandwidth to support and nurture a growing restoration franchise system?
When considering how to franchise a restoration business, many business owners forget the level of responsibilities and commitment that come AFTER the restoration franchise has been sold. You should count on 3-4 weeks of training for each franchisee and at least one of those weeks being at the new franchisee’s location.
For more information on how to franchise a restoration business, contact Franchise Marketing Systems at (800) 610-0292.