When is the right time to invest in a franchise?
It can be a hard decision to make when it comes to buying a franchise. A dream of owning a business means that you are ready for changes. But when is the “right” time to buy a franchise business? Look at the reasons why you want to operate the franchise – what are your motivations?
Assuming that you did market research, found the right franchising opportunity, and have the money to invest, the next step to consider is your own readiness. For example, your kids become older and have moved out of the house and now you have more time to become a part of the franchise industry. Or you are tired of your corporate job and want more control and flexibility in your career. All of these reasons are good starting points for wanting to buy a franchise. Just be honest with yourself about your motivations before you become a franchise owner.
Knowing Risks and Rewards
Even though franchised businesses are much less risky than traditional start-ups, you should feel comfortable dealing with some degree of risk. Owning a franchise has several rewards such as business assistance, buying power, and a low failure rate.
When you buy a franchise you receive ongoing training, equipment, supplies, and instruction needed to start your business. The risk of opening a franchise is lower than an independent business. Also, as a prospective franchisee, you don’t need to invest thousands of dollars to start the business. With the franchise business all the initial, up-front work has been done for you. This includes creating a business plan and marketing collateral and designing a logo and website. Because of the established background of their franchisor, franchisees usually have an easier time securing a bank loan than independent business owners.
On the other hand, you must follow the rules and guidelines written in your franchise agreement. Besides the original franchise fees, a percentage of royalty fees will need to be paid to the franchisor each month. Ongoing royalty feels may vary from 0% to 25 % of gross sales and are usually paid monthly.
In order to make sure that you are making the right business decision and are protected throughout the process Franchise Disclosure Document (FDD) comes into play. An FDD is a legal document that must be disclosed to prospective franchisees before they complete their purchase.
When is the perfect time to buy a Gorilla franchise?
The demand for Gorilla Property Services is extremely growing. As property managers and residential owners are looking to give a fresh look to their homes and businesses our Gorillas are getting busier every day. We offer the top 7 services in the cleaning and building maintenance industry.
Our top 4 services in spring and summer are:
- window cleaning
- soft washing/siding cleaning
- pressure washing
- graffiti removal
Top services in fall and winter are:
- Roof cleaning and inspection
- Gutter cleaning and inspection
- Dryer vent cleaning
- Snow removal and salting
In 2021 we saw 31% growth in year over year sales and over 11,000 calls to our call center from customers looking for our services! As home-based businesses become extremely popular, more residential customers are working from home and making significant investments to keep their properties looking great.
Why not give a fresh look to your life and become a business owner?
Grow with Gorilla! Break into the $2.2B industry and open your own Gorilla Property Services! This high number reflects the high demand for cleaning services in today’s society, and this demand only continues to grow year after year. The perfect time to buy a Gorilla Franchise is now!