In an era where most people are opting to be their boss, the opportunities to thrive as an entrepreneur are endless. If one has the required skills, passion, vision, and knowledge, then starting and growing a business is not an impossible task anymore. With an array of small businesses making a mark in the American market, people are looking beyond traditional ideas and choosing some unconventional business options as well. One such underrated business option is the Plumbing franchise opportunity which is gaining popularity among entrepreneurs.
What is a Plumbing Franchise?
This business model provides various types of plumbing services to domestic as well as commercial clients. Every bathroom or kitchen needs plumbing services or maintenance from time to time. These franchises have multiple skill sets and talent pools, which allow them to cater to a more extensive customer base. It is a lucrative opportunity that is estimated to generate 1 billion dollars in annual revenue in the United States.
Advantages of Owning a Plumbing Franchise
Many independent plumbing contractors might feel that operating independently is better than investing in and owning a franchise. However, compared with each other, a plumbing franchise opportunity has the upper hand over the former.
- Brand Value- When customers hire a plumbing service, they often take for the recognition and reviews before opting for a vendor. A franchise comes with a brand name and face value which can take a lot of time and effort for an individual contractor to build.
- Organized System- The best part of opting for a franchise business is that everything is planned and organized. Right from the pricing, logo, standard operating procedures, and training plan, everything is well thought out in a franchise business. Whereas, to own an individual business, it might take a lot of time and effort to set things in place.
- Strong Customer Base- A franchise business’s biggest boon is the existing and loyal customer base. Building faithful customers can sometimes take years for a small business. However, in the case of a franchise business, they are already known by people, and even if it is a new functional franchise, people will still trust them with business.
- Saves Additional Costs- Another significant reason to choose a franchise over starting an individual plumbing business is to avoid the huge costs that licensing, insurance, and advertising can incur. A franchise already has these things in place; therefore, these formalities will not take too much time and resources.
- Better Revenue- With recognition and a customer base already available, it is easier for a franchise owner to aim for profits with the right strategy and customer service.
Conclusion
With numerous positives, a plumbing franchise opportunity is a great business model for someone who intends to work on their terms and make a living. Owning a plumbing franchise can bring in money and recognition in the market.
