Handyman businesses are in high demand. Homeowners have less and less time to take care of home improvement work themselves, so more and more, they’re hiring professionals to do it for them. If you’re thinking about entering the market, this is the time.

The proof is in the numbers. As the economy rebounds, experts are forecasting significant growth in the already highly-profitable home services and maintenance sector. The global cleaning services market is projected to grow by 6.2% between 2016 and 2022. Within this market, floor care services, in particular, have seen the most revenue gains thanks to greater demand.

What this means: If you’re a handyman (or are thinking about becoming one), it’s a great time to enter the market with a business or franchise. In this article, we’ll look at the best of two ways to do it: buying a franchise or starting a business from scratch. Read more

When you think of businesses you frequent, or have heard of, you can probably envision their logo, colors, and fonts along with other design-based characteristics that make up that company’s brand.

Crowdspring determined that it takes consumers 10 seconds to form a first impression of a brand’s logo, but 5-7 impressions to recognize the logo. The increased exposure is likely why you’re able to quickly recall franchise brands, which makes the branding an important consideration when choosing to open a franchise for yourself.

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When planning to buy your own franchise, one of the biggest considerations is money. Franchisees will often review the franchise disclosure document provided by the franchise they are considering and look at all of the startup costs and fees. But, just like any major purchase like a home or vehicle, running a franchise means there are going to be ongoing costs to factor into your decision as well.

It’s important to plan out a budget ahead of purchasing your franchise to maximize the likelihood and speed at which you reach profitability and to ensure that your plan to purchase a franchise is financially sound in the long run.

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Any relationship between two parties is a two way street; that goes for franchisor-franchisee relationships as well. If you’re looking into buying a franchise, you probably have spent a lot of time evaluating whether franchising is right for you. But, as you get further down the road to ownership, you’ll find that franchisors are evaluating whether you would be a good franchisee as well.

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A business plan is just what it sounds like – a plan for your business. Of course, it’s more than that. Well-written business plans include many details on the goals you have for your business, what the market looks like, and the steps you’ll take to make your business succeed.

Business plans are used not only as a roadmap to success, but as proof that you’ve got a well-thought-out plan in place in the event you are looking to secure financing for your business.

Read on to learn some franchise-specific tips to crafting a business plan that works for your business.

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