Low-cost franchises provide an opportunity for budding entrepreneurs to escape the corporate office and take charge of their career through business ownership.
Throughout the pandemic, fortunate Americans who remained employed were able to put more money into savings than usual. Over the past year, savings accounts have grown for many people who canceled pricey vacations, stopped eating at restaurants, cut back on shopping trips, and stayed home to flatten the curve. Despite record unemployment and a turbulent economy, the U.S. personal saving rate skyrocketed to 32.2 percent in April 2020, up from 12.7 percent in March 2020.
Staying home also gave many Americans a taste of workplace flexibility and a chance to reevaluate their futures. Those who are ready to escape corporate life, and were able to save money during the pandemic, are now in a position to buy a low-cost franchise.
Franchise Offers Low-Cost Options
Franchising may seem overwhelming for people who only consider high-cost options, like fast-food restaurants, retail, or hotels. There are many low-cost franchises with nominal start-up costs and mobile workplaces, which is a great option for first-time business owners.
Franchising allows people to operate a business that has a proven track record. Franchise owners receive support and training from experts to help improve their chances of success. As an added bonus, they have the benefit of a vast network of peers to share best practices. Another perk of franchising is relying on the parent company to spearhead marketing efforts and provide franchise owners with discounted rates on services.
The franchise industry offers a business for every budget. Low-cost franchises, such as Fresh Coat Painters, can provide a solid return on investment with a low barrier to entry. Low-cost franchises are accessible, offer flexible schedules, and are scalable. Most low-cost franchises do not have a brick-and-mortar location, and much of the work can be done from a home office or scheduled around family events. Low overhead and investments mean the business will start turning a profit quickly and allow you to invest in additional locations or territories at a faster rate.
Play it Safe by Picking a Pandemic-Resistant Option
When weighing options, it’s important to consider how the business would handle a pandemic or economic downturn. Franchises that provide a personal or essential service to residents, including cleaning services, home maintenance, painters, and auto mechanics, are considered solid investments.
Home improvement franchises are enjoying steady growth as the pandemic forced many people indoors, inspiring home improvement projects. Houzz, an online service that connects customers and contractors, saw a 58 percent increase in requests for home professionals in June 2020, compared with the same month of the prior year.
Fresh Coat Painters offers entrepreneurs a business featuring a low barrier to entry in the booming home services sector. The brand offers multiple revenue streams that includes residential and commercial clients, as well as interior and exterior services. Fresh Coat unites skilled painters with business professionals to create a brand that delivers the best customer service and the talent customers need to turn their house into a home.
Fresh Coat added 36 new locations in 2020, and the company also enjoyed four straight months of record-breaking revenue at the height of the pandemic. Fresh Coat is ramping up its commercial business and inked $10 million in commercial leads during the first quarter of 2021.
You do not need painting experience to run a profitable Fresh Coat business. We are searching for people who have a passion to run a business, who want to benefit from all of the valuable partnerships available to franchise owners. They can take advantage of discounts and lead generation opportunities because of partnerships with Sherwin Williams, Sun Belt, PPG, and Blue Book, a commercial project facilitator.
Accurate quoting software also allows Fresh Coat to provide customers with a warranty on every job to stand by the quality of their work. Although Fresh Coat has a low franchise fee, the home office provides comparable support to its higher cost counterparts, as well as ongoing education, training and new partnerships.
If you are ready to put your business and management skills to work scaling a business with a solid return on investment, contact Fresh Coat to learn more about opening a franchise in your area.