For many Americans, the latest round of stimulus checks gives a spot of color on a bleak landscape. For some, however, the stimulus has been, dare I say, more stimulating. If you are one of the fortunate Americans looking for a way to use your stimulus to both stimulate the economy and to stimulate your future; I propose investing in a home service franchise. What is a home service franchise and why do you want to invest? Read on, my friend!
A home service franchise is a franchise brand that belongs to a relatively broad industry covering a wide range of home repairs and maintenance brands, such as residential plumbing, gutter cleaning, home cleaning, and other residential maintenance needs. These franchise brands more frequently have an in-home business model available. This means lower start-up costs and lower overall investment, making those small stimulus checks stretch a long way! This vertical of franchise offerings boasts a wide array of opportunities for modest investments.
Why invest? Well, many home service franchises offer the flexible opportunity ranging from a suitable side hustle up through a full-time career of business ownership. Many of the franchises available are suitable for those who have never owned a business, have a full-time job but want to branch out, or for those who are just breaking into entrepreneurship! I myself have two teenage boys, who may or may not be pointed down the road to a college degree and beyond. I now find myself considering whether to invest in a home service franchise down the road for them. The idea has a lot of merit. The opportunity would serve to teach them about entrepreneurship, business ownership, responsibility, and possibly either fund their college dreams, or otherwise set them on a path to financial stability. The beautiful thing about a good franchise system is that the franchisor gives the franchisee the needed support, training, and resources to succeed. For someone who lacks experience or, just doesn’t want to have to experience all of the pitfalls or “rookie” mistakes that small business owners so frequently make, these franchise opportunities fit the bill quite well.
Why now? Many of us just received funds that are meant to stimulate the economy; by investing these funds into an opportunity such as a home service franchise, not only are you helping to stimulate the larger economy by purchasing all of the necessary equipment and supplies, but you are also stimulating your own micro economy by investing in your future and setting up a structure that could continue to pay out long after the pandemic has passed.
Now of course (I am an attorney, you saw this coming), do your due diligence, and no matter how inexpensive the startup, have the documents reviewed by a franchise attorney and speak with a CPA to determine if the opportunity is a good fit for you, or whether to keep looking. Stay safe, stay sane, and Expand Your Brand™!
For more information or to schedule a customized consultation for your business, you can write to franchising@SLA.Law or call (866) 99-FRANCHISE.