Is Franchising For You?Looking to buy a franchise?
Franchising can be a great way for you to own and operate your own business. When you buy a Franchise, you are buying a proven business model that is easy to duplicate using documented operating systems. Along with marketing and business support from the Franchisor, there is usually a much higher likelihood of success. Franchising is not for everyone, however, if you have limited business experience or you enjoy working within an established system, franchising just might be the right choice for you. Before you take the leap, you should ask yourself some basic important questions. Do You Have What It Takes?
Your success as a franchisee is based on your willingness to follow a proven system to build your business and at the same time build the Your Local Handyman brand. |
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Handyman Franchisee Profile
Trade skills: Do you have talent, backed by personal hobby interests, previous or current job experience, or formal trades training, that you will be bringing to the table?
Teachability: Are you open to following a training and mentorship program enthusiastically? We will train you and then be your advisors, then as time passes, you will guide your own path following the YLH business model and franchise system.
Self Starter? We will be your advisors, but you’ll be the captain of your own ship. Are you a self-starter?
Time To Invest: As a part time franchisee, do you have 10+ hours to invest into your own business each week? Or, as a full time franchisee, do you have 35+ hours to dedicate?
Perseverance and Commitment: When you start something, do you give it enough time to work, or do you wander off to the next great thing that comes along? We’re looking for people (men and women) who have “stick-to-it-ed-ness”.
WHY? What appeals to you about self employment? What motivates you, your goals? Do you have a family to provide for?
Patient: You’ll be working in the customer service industry… being a Handyman is simply what you will be doing. Do you have strong people skills, patience and the ability to adapt to different situations?
Creativity: Sometimes, there is no off the shelf solution to fix a customer’s problem. We will be your advisors, but do you like applying your own creativity to situations?
Community-minded: Would you like a chance to give back to the community from time to time? There are lots of sponsorship opportunities in your community.
Challenge: Do you like to challenge yourself mentally, physically? Are you interested in personal development?
Investment: Do you have the resources to fund this venture comfortably or will you be borrowing?
Teachability: Are you open to following a training and mentorship program enthusiastically? We will train you and then be your advisors, then as time passes, you will guide your own path following the YLH business model and franchise system.
Self Starter? We will be your advisors, but you’ll be the captain of your own ship. Are you a self-starter?
Time To Invest: As a part time franchisee, do you have 10+ hours to invest into your own business each week? Or, as a full time franchisee, do you have 35+ hours to dedicate?
Perseverance and Commitment: When you start something, do you give it enough time to work, or do you wander off to the next great thing that comes along? We’re looking for people (men and women) who have “stick-to-it-ed-ness”.
WHY? What appeals to you about self employment? What motivates you, your goals? Do you have a family to provide for?
Patient: You’ll be working in the customer service industry… being a Handyman is simply what you will be doing. Do you have strong people skills, patience and the ability to adapt to different situations?
Creativity: Sometimes, there is no off the shelf solution to fix a customer’s problem. We will be your advisors, but do you like applying your own creativity to situations?
Community-minded: Would you like a chance to give back to the community from time to time? There are lots of sponsorship opportunities in your community.
Challenge: Do you like to challenge yourself mentally, physically? Are you interested in personal development?
Investment: Do you have the resources to fund this venture comfortably or will you be borrowing?
How To Choose A Franchise
- Years in business: How long has the franchise you wish to join been in business? Is it a start-up, or does it have a proven model with a track record of at least a few years?
- Future plans: What are the development plans for the franchise? Are they in line with your expectations? Are you enthusiastic about their vision?
- Will you have a voice? Many franchise systems enable their franchisees to develop an association of franchisees within their system who are the voice of the franchisees. They bring ideas forward to the management team in hopes of having their ideas implemented.
- Training & support: Will training be available to you? Will the training include field training, as well as office administration training? What does the post training support look like?
- How does the franchisor choose franchisees? Is their selection process beneficial to both parties?
- Competition: What is the competition like? Is the franchisor willing to bring you up to speed with what the competition is doing?
- Industry research: Listen to what the franchisor tells you about the industry, and also do your own research. If there is a discrepancy, discuss this with the franchisor.
- What are their values? Based on what you know, do you agree with the core values of the franchise system? Can you stand behind these values?
- YOUR financial situation: Assess your financial situation. How much money do you need to buy this franchise, and do you have a buffer of 3-6 months of expenses?
- Business plan: Do you have a business plan, and can this franchise fit within that plan? Does the franchisor have a customizable plan that you can start with?
- Explore opportunities: Are you sure this is the franchise for you? Have you looked at other opportunities?
- Passion. Are you passionate about our brand? Do you like the look and feel of Our brand?
- WorkLoad: Are you willing to roll up your sleeves and go to work? Success in franchise businesses is directly tied to the amount of work you are willing to put into it.
- Family support? Do you have the support of key family members?
- Operating system: Are you able to stick with the operating system, as laid out by the franchisor? Keep in mind, you will only see the full system once you've paid your deposit, and franchise documents have been signed. The basics of the system should be in the franchise document.
