Yep, that’s right! Here is your chance to “own the home.” But it’s not exactly what you think. So let me explain.
If there is one thing we’ve seen during COVID times, home sales & home improvement investments have surged dramatically. Home improvement has always been a relatively recession-resistant type of investment, but it is also COVID/pandemic resistant. With hundreds of millions of individuals spending more time than ever in their homes, 57% of homeowners did a home improvement project from March to May 2020, according to BusinessWire. Although 2021 may show some signs of flattening out a bit, the demand will always be there.
As a result, one franchise development company has taken a new and innovative approach of offering the possibility to investors of “owning the home” for various home service concept brands. Still, trying to wrap your head around this approach? Let me explain further.
While many brands will offer the opportunity to own several territories of a single concept brand, this new approach will enable you to one a single territory with multiple brands, ultimately allowing you to own and operator 6+ concepts within that single territory. It’s called “the stacking approach.” The stacking approach allows you to own multiple home service offerings that operate under one roof/business model.
Some of the current segments serviced in the “stacking approach” model include the following:
- Painting: Clients include both commercial and residential property.
- Handyman: Bridges small-time handyman projects & large remodels
- Garage Doors: Repairs & applications for residential and commercial
- Maid Services: Services for both commercial and residential property
- Kitchen Organization: Organization for closets, pantries, drawers
- Renew Services: Pressure washing and outdoor renewal services
- Rubbish – Junk removal
So why would an investor consider owning multiple brands within a single territory? Excellent question. Here’s a little scenario to help put this approach into better context for you.
Let’s say you call the painting company to have the interior of your house repainted. While the painters are there they, notice you need to have some additional trim work done to put the finishing touches on the job. So your crew recommends your handyman services to come in to do the woodwork. The handymen come in and complete the trim work for your client and notice that they have made somewhat of a mess and offer an initial “free” cleaning from your maid service concept to put the cherry on top for your client.
You’ve now exercised three different concepts of services and tapped into various revenue streams and, most likely, have one delighted customer that will continue to leverage your services. And perhaps, sign on for bi-weekly cleaning services since they are thrilled with the work your maid service did.
And the beautiful thing is that all concepts reside within one CRM platform backed by proprietary systems for business management & an in-house marketing team to support all of your businesses!
Average investment range: $100,000 – $150,000
Ready to learn more? Contact me today at email@example.com.
Be safe. Be Well. Be Your Own Boss.