One thing that we have learned during this pandemic is the sense of compassion and community we humans share. During a time of global change, it can be hard for small and medium-sized business owners to grasp the situation and move forward accordingly.
Though the pandemic has created unprecedented situations for many workers, employees, and small-business owners due to massive layoffs and disrupted supply chains, it has also instilled confidence in aspiring entrepreneurs to make bold career decisions amidst the crisis.
One of the biggest takeaways from the current economic situation is assessing the industries that are thriving. There are multiple opportunities in the essential services industry, cleaning services; healthcare facilities; outdoor home services; restoration services; basically, every type of service which fulfills a need.
The restoration industry is an incredibly lucrative option for entrepreneurs who want to make a difference in their communities. Restoration businesses fall under the essential category; their services range from fire; water; mold; bio-hazard; and odor removal; to storm damage and other natural disasters. Additionally, the remodeling market accounts for $83 billion of today’s restoration industry, with countless other revenue streams attached to the operations.
Opportunities in the Restoration Business
One of the benefits of entering the restoration industry is the versatility that comes with it. The services offered by a restoration company branch out to multiple domains – emergency response services, flood, fire, and water damage restoration, water or smoke mitigation and home restorations.
However, one of the challenging aspects of the restoration industry is managing good relations with insurance companies. Insurance is a constantly evolving industry, and with the added complications of certifications, equipment, and training, it can become quite tough to take on the business single-handedly.
However, there is a solution: franchising. The thought of investing in a business is daunting, especially during a global crisis. But being part of a franchise system decreases the risk substantially because franchising has a proven business plan, and the opportunities are plentiful. Right now, we have an opportunity to assess the market needs, and buying a franchise can be a good move as a future investment.
Restoration Franchises and its Advantages
Starting a business from scratch sounds risky, but franchising provides you the security of a proven concept that is proven profitable and proven repeatable. Finding a franchise system that supports you and your values will help you to serve your community and meet your financial goals.
Franchise ownership comes with its own corporate team that is adept at handling supply chain, marketing, branding, training, business development, and legal issues. The franchising system provides stable opportunities, lucrative career options, franchisor support, and is built on value and leadership.
Multiple franchisors are responding to the pandemic by reaching out to the community and helping with diverse career options. All franchisees receive marketing and budgeting help, along with networking opportunities to scale up their business and be part of a rising economy.
Brands are innovating their franchising model to keep businesses moving. Being a part of a franchise is advantageous when starting your business, due to minimizing risk while providing lifestyle and income goals.
About The Author
Bill McKee has been a business owner since 1993 and built several successful businesses, he has been a franchise consultant since 2007. If you are interested in seeing what type of franchise opportunities exist for you, Contact Bill at (972) 767-8433 or Bill@TheFranchiseConsultingCompany.com.
No obligations, no fees … just good solid information about franchising.