When it comes to running a franchise, you can build the best staff, maximize your marketing and craft a captivating business plan; but if you are stuck in a failing industry, then your business is likely to fail as well despite your best efforts.
That’s why it is so important to not only investigate and choose the right franchise for you, but to investigate and choose the right franchise industry as well.
And while there are thousands of different franchises in hundreds of different disciplines, there is one particular industry that offers distinct advantages for aspiring franchisees — the home services industry.
A home services franchise is any franchise business that helps residential homeowners maintain, care for and improve their homes. Just as there are many things that need to be taken care of in a home, there are many sectors within the industry designed to meet those needs.
For example, there are moving and storage franchises, home decorating franchises and home improvement franchises, just to name a few. The common element of all of these sectors is that they produce waste, and they all need somewhere to put it. That’s where companies in the junk removal sector, like Bin There Dump That, come in.
When an industry produces a lot of revenue, that makes it more likely for franchisees within the industry to generate revenue of their own. Fortunately, there’s a lot of money to go around within the home services field. According to the New York Times, the industry is estimated to generate between $400 and $800 billion annually.
People are investing in their homes, and the remodeling sector is booming as a result. As of November 2015, the remodeling market had experienced 14 consecutive quarters of year-over-year growth, and 36 percent of all homeowners planned to spend at least $5,000 on home renovations in 2015
Even better, the trend shows no signs of slowing down. This is great news for people within the industry, and those like yourself, who may be looking to break into it for the first time.
New business models and sectors pop up all the time. However, more often than not, these new offerings end up as nothing more than passing fads, leaving entrepreneurs with mounds of debt and disappointment.
You’ll never run that risk as part of the home services franchise. While individual companies may certainly fail, the industry itself is here to stay. There will always be homes that need work, and there will always be homeowners willing to spend money to get the work done.
People have a lot of stuff. As a result, they also have a lot of stuff to throw away. Every year, Americans alone generate more than 254 million tons of waste. That number is rising, and the trend has created a rising demand for junk hauling and disposal services — like Bin There Dump That.
Just as the home services industry is growing, Bin There Dump That is growing, too. We have more than 60 franchise operators throughout North America, and we recently placed our 100th production vehicle on the road. Plus, unlike other companies in the industry, we serve both homeowners and contractors, which gives our franchisees access to two revenue streams instead of just one.
If you are interested in starting a home services franchise for yourself, we invite you to learn more about us and all of the reasons you should consider joining the Bin There Dump That family.