Is this a good time to buy a Handyman franchise?
Over the last few weeks, we’ve had an increase in enquiries for handyman franchises. This seems to be for two reasons:
COVID-19 redundancies. People are looking for a low entry cost business to generate income
WFH. With more people Working From Home, there has been increased demand for home office fit-outs, shelving, desks, benches, bookcases, etc.
Also, with more time spent at home, people have had more time to look around and see all the odd jobs that need to be done!
So, before you dive in and sign up for that handyman franchise, here are some things to consider:
Are you a ‘handy’ person? Good with you hands and tools?
Do you like dealing with people?
Are you comfortable making sales and building your business?
What are the upfront costs and ongoing fees?
What is the expected profitability?
How long will it take to Payback your initial investment?
Talk to other franchisees about their experience
Understand how you get leads – from head office or find your own?
What systems and training is provided?
Are there restrictions on territories and ‘out of territory’ work?
These are some initial questions to get your thought processes started. Once you get more information you’ll be able to dig deeper and find out more about the particular franchise.
And be sure to get a franchise Pre purchase Review!
Let me know if you need a hand
Peter