17 Dec Organize Your Investment in the Home Improvement Industry
The home improvement industry is one of the hottest segments in America right now. It’s worth billions and is projected to only continue to grow. The housing market is booming with new people buying homes, coupled with increases in property value. Homeowners are always looking for ways to protect their investment; and one way they do this is with upgrades to their home such as closet remodels, garage organizers, and more. This has entrepreneurs looking for ways they can get in on the action themselves.
The quickest, and most direct, route to capitalizing on this exploding industry is to partner with an established franchise. Franchise businesses provide entrepreneurs with the brand recognition and a functional business model they need to make their footprint in an ever-expanding marketplace.
Now that you’ve decided to invest in a franchise, exactly what does that mean and how do you go about joining? The team at Closets by Design has been helping franchisees achieve their dreams of business ownership for over 35 years. The team can help you join the industry too.
Learn the Details for Your Franchise
There are many things that investors need to consider when purchasing a franchise. These include the details of your total investment, startup timeframe, training and support, and, most importantly, the income opportunities. Here’s what entrepreneurs need to know when they are looking into starting their own custom closet franchise.
Talk to the Source About Your Total Investment
First, entrepreneurs should understand what their investment is going to be when starting a franchise. The total investment for starting a franchise can vary greatly depending on the industry, your location, and the opportunity for income. And startup fees do not only cover the franchise fees, some franchises may require the building of a new location or renovating of an existing one while some may allow for franchisees to work from home. Because the investment range is so diverse to each particular franchisee, it’s recommended that you take the time to perform your due diligence and speak directly with the parent company for additional details.
Know the Timeframe for Starting Your Franchise
They say that Rome wasn’t built in a day. The same is true for a successful franchise. Many franchises can take anywhere from two to six months or longer, between your initial inquiry to when you open your doors. Of course, this timeframe may also vary between franchisees and locations. For potential owners who are looking to get started quickly, there may be resale opportunities available. This is where speaking to the franchisor can be beneficial to help you understand the timelines and options.
Thankfully, with the right franchise, you can count on franchisor support throughout your startup. In addition to this support, franchisees can also expect additional help in the form of training. It is important that you understand how much training and what type of support is available to you as you look for the right franchise fit.
Prior to a franchise’s grand opening, Closets by Design provides a comprehensive, two-week training session at its corporate headquarters in California. Support from your franchisor is crucial to the future success of any business and should be a major consideration in making your choice. In addition to extensive corporate training, Closets by Design franchisees can also count on the corporate team for robust, in-house marketing support to drive leads through both local and national advertising programs. On top of that, you can always count on the continued communication and training that come with being a member of the franchise family.
Find Out About Financing
Financing may be available for specific startup costs such as territory fees and initial machinery investments to name a few.
Some companies, like Closets by Design, are pre-approved by the Small Business Administration (SBA) franchise registry. This makes applying for small business loans, and receiving faster approvals, easier for potential franchisees.
For a more detailed understanding of investment costs, franchisees can request more information about starting their Closets by Design franchise.
Understand Why the Investment Works for You
The most important part of planning your investment is understanding why it’s a good investment in the first place. We’ve already told you how home improvement is a billion-dollar industry that doesn’t show signs of slowing down. A Closets by Design franchise is your best way to make the most of this upward trend.
During our more than 35 years in business, our franchisees have consistently proven that Closets by Design franchises are excellent cash flow businesses with deposits collected before delivery of the product. Furthermore, owners who follow the Closets by Design model have been shown to achieve high gross margins while maintaining low inventory.
One of the best ways for franchisees to learn more about the opportunity is to speak with other owners who have already changed their lives through franchise ownership. Speaking with owners is an integral step of the discovery process for any potential franchisee and an excellent way to learn about both the startup process and life as a business owner. In fact, after their own Discovery Day, Closets by Design franchise candidates will have the opportunity to speak with existing owners to learn more about the franchise experience from a hands-on perspective. But you don’t have to wait, you can see testimonials from franchisees discussing their own success with Closets by Design now on the website.
Are You the Ideal Closets by Design Owner?
Are you asking how you can become a Closets by Design franchise owner? You may already be the ideal candidate. What you need is experience as a leader, with strong management skills and good people skills. No woodworking or manufacturing experience is necessary! Do you think owning a Closets by Design franchise is right for you? Reach out today to learn more about how you can get your start in the home improvement industry when you open a Closets by Design franchise.