Today, I had my morning conversations with a client and start showing him some flooring franchise brands.
My client is working in corporate America and has been burned out with traveling and unable to join his children’s sports events. He has been considering owning a business for a while and reached out to me about a month ago. We have been discussing his passion, lifestyle, his core skills, needs, wants, and financial goals. Our of the different interviews we have extracted his requirements are
- The ability for him to spend more time with family and especially flexible schedule to participate in his children’s activities
- Doesn’t require to do any hard labor work
- Has about $120K of Investment
- Preferred to be a home-based business and ideally does not require building or maintaining inventory
- Want to build a legacy for the family
- As he does not have a lot of available cash and his wife is a homemaker wanted a business that will quickly provide cash flow.
His background in sales along with these requirements leads me to MATCH with a some of the strong growing Home service franchise businesses. I had shown him two of the franchises and he like the Flooring business.
Home Improvement Industry Trend
US Home Improvement was $407 Bn in 2019 and is projected to be $510 Bn by 2024. 76% of the house owners have completed at least one home improvement project in 2020. Average spending has increased at a rate of 90% compared to the retail sector.
Flooring Industry and Flooring Franchise
Flooring is about a 48 Bn segment of the Home Improvement industry and their homeowners are changing the way they shop for flooring. It has been observed that homeowners are now calling flooring vendors instead of driving to big box retailers. They are looking for education and guidance.
The flooring industry has several Flooring Franchises, however, considering requirements and the franchise’s track record and culture we have matched him with a Flooring Franchise providing an average profit of over $ 240K annually with an investment of $90K.
The flooring franchise model neither requires the owner to install a floor nor requires them to hire employees. Customers will source the flooring materials and the franchise owner will hire a sub-contractor for the installation. The franchisor is generating leads and the call center manages appointments and schedules. The franchise owner will be able to set their own schedule and have the flexibility to work their own hours.
Flooring Franchise owners will be trained and immediately able to meet customers and start taking orders. The franchise is managing key back office support like getting customers, marketing, and answering calls leaving the franchise owner focused on working with customers and sub-contractors.
Our client is getting ready for the discovery day and very. Soon will see a transition from a Corporate job to becoming your own Boss.
If you are tired of staying behind a desk or burned out with travel and looking to venture into owning your business then call us. At Get Me Franchise our services are completely free. We want to help you turn your passion into Freedom using Franchise.
Author: Rajiv Shah, an IBM executive turned Franchise broker following his own passion.