It’s no secret there is growing discontentment in the American workforce. According to a recent report published in The Wall Street Journal, the number of workers who wish to switch professions has reached its highest point in a decade, with many feeling stuck — unsure of how to make a change.
One promising avenue is to pursue franchising, a unique way to experience business ownership within the parameters of an effective support structure. Franchising can be a fruitful path for working professionals who long to become first-time business owners — and some industries are especially ripe for franchise success.
Among the top options: the home service sector. Property and home service companies — such as plumbing, electrical, bathroom remodeling and HVAC — are increasingly popular, offering resiliency and a solid future for both skilled tradespeople and entrepreneurs seeking a change.
D’Wayne Tanner is someone who knows a lot about successful franchising in the home service industry. As vice president of franchise development at BELFOR Franchise Group, he works alongside franchisees throughout the home service space, including brands like 1-800 WATER DAMAGE, DUCTZ and Z PLUMBERZ. Prior to joining BELFOR, Tanner enjoyed successful stints at major brands like Taco Bell, Wendy’s and Ruby Tuesday.
We asked D’Wayne to share some of his reflections on the home service franchise vertical, and the opportunity it holds for those seeking a career shift.
Franchise Chatter (FC): The home service space is becoming an increasingly popular destination for aspiring franchisees. What makes the home service space so alluring?
D’Wayne Tanner (DT): At BELFOR Franchise Group, we’ve seen plenty of interest in the home services space in recent years — and there are a number of reasons for that.
One of the key reasons for the surge in interest is that home service companies fulfill vital needs. Whether it’s clearing a clogged drain, providing water damage mitigation, or repairing holes in walls, many of the services our brands offer are essential to homeowners and business owners during critical times.
There are other reasons, too. The home service space provides plenty of opportunity for skilled tradespeople to achieve personal goals, leveraging their professional skills and credentials to open their own franchised businesses.
FC: When most people think of home services, they probably think primarily of plumbing, electrical or HVAC contractors, but it sounds like the industry is more diverse than that.
DT: There are several opportunities in the home service space that are more “niche” in nature — yet still provide avenues for meeting real needs within the community.
Water damage mitigation and contents restoration are a few of the more well-known options, as they provide essential services for homeowners and business owners who have been dealt an unexpected disaster event and want to get back to the norm as quickly as possible.
Professional cleaning companies can also provide a meaningful business opportunity, especially as the general public is increasingly cognizant of sanitation and hygiene. For instance, Chem-Dry, another brand within BELFOR Franchise Group, provides carpet and floor cleaning services for offices, restaurants, and other spaces where cleanliness is mission-critical.
The list goes on, with countless ways for aspiring franchisees to create real value through a home service brand.
FC: What makes home service franchising such a smart choice for those who are looking for a career change?
DT: Making a career change always carries some risk, but franchise systems often limit a lot of the stress that comes with starting a business from scratch. Not only is the home services industry itself fairly resilient, but franchise models generally equip new business owners with tools and resources to help them succeed — including comprehensive training, local marketing support, an established network of vendors and suppliers, and the benefits that come with brand recognition.
Also, generally speaking, unlike operations such as restaurants, retail locations, and gyms — home services franchises typically don’t require the exorbitant expense of building a commercial space. This dramatically reduces investment costs for those looking to change careers and allows them to invest monies in brand building marketing activities.
FC: What should skilled tradespeople look for as they explore different franchising opportunities?
DT: Not all franchisors are created equal. It’s always wise to thoroughly research and compare franchisors and the opportunities they offer.
A couple essential characteristics of a solid franchise opportunity are the initial training and the ongoing operational support that’s provided. While skilled tradespeople probably know the day-to-day fieldwork like the back of their hand, that doesn’t always translate to the same proficiency with things like financial management and marketing. Learning about the specifics of the training program and ongoing support provided is a crucial step in the franchise discovery process.
FC: What are some other benefits that BELFOR Franchise Group offers to skilled tradespeople seeking to own their own businesses?
DT: BELFOR Franchise Group provides skilled tradespeople the chance to take control of their future through business ownership — with access to comprehensive training, established business models, and ongoing operational support. Joining a franchise system that includes complementary residential and commercial service brands, along with a network of experts to collaborate with and share best practices, can provide operational efficiencies and valuable growth opportunities.
We have such strong confidence in our brands and the individuals we award franchises to that we invest alongside them. We offer attractive financing options for the initial franchise fee on many of our brands, allowing franchisees to invest more in their local market to grow their business.
We’ve also built a network of trusted vendors who work closely with our franchisees to provide them with proven solutions for everything from the Customer Relationship Management System (CRM), to marketing partners, equipment manufacturers and tons of other services, allowing them to focus their time and energy on delighting their customers.
These are just a few examples of how investing in a home services franchise can offer first-time business owners a strong head start and a competitive edge. Ultimately, for those with experience in the skilled trades and a desire to own and lead their own local teams, franchising can be a really fulfilling path forward.
