Starting a Kitchen Remodeling Franchise - Is It For You?
If you’ve been exploring business opportunities and have decided that a kitchen remodeling franchise is the best choice for you, then you’ve made a wise decision.
While some individuals prefer to do it alone, starting your own kitchen remodeling business can be a stressful and risky venture. Data from the U.S Bureau of Labor Statistics show that around 20% of small businesses in the U.S. fail in their first year and 50% over five years.
A home improvement franchise is far less of a risk than starting out on your own. You will have a proven business model with systems already in place. You’ll be ensured a smooth transaction to becoming a successful business owner without all the extra stress of doing it alone. Starting a home improvement business from scratch will also require a significant financial outlay compared to start-up costs for a kitchen remodeling franchise.
In addition, home improvement franchise opportunities are a great business model to pursue in contrast to other markets as it isn’t something that’s ever going to go away. Homeowners will always be renovating their homes to add more value, comfort, or utility to them. As the kitchen is undoubtedly the most important room in the home and the most popular to renovate, you can congratulate yourself on choosing a profitable market that won’t be going away any time soon.
However, there are some things you should consider before investing in a kitchen modeling franchise to discover if you have what it takes to be a successful franchisee.
Understanding the Home Remodeling Market
It stands to reason that in any industry you are going to enter, you should know some facts and figures about it. The Home remodeling market is enormous and worth $450 billion in the United States alone. This is set to grow to $500 billion by 2026.
Kitchen Tune-Up has territories available throughout North America, and the kitchen remodeling solutions we provide are much in demand. As much of the remodeling we offer is budget-friendly and can be completed in 1 to 5 days, customers of all income levels can use our services. Many homeowners are looking to spruce up their kitchen space but without extensive renovations that are costly and can put their kitchen out of use for weeks at a time. It also means that as a franchisee, you have a higher turnover of jobs over a shorter time, increasing your profit margins. This is what puts us ahead of our competitors.
Researching Your Investment
You’ve probably explored other franchise opportunities and seen that the costs vary widely between different industries and companies. If you find a home improvement franchise that is not upfront about their prices, then this is a red flag, and they are best avoided. A reputable company should be transparent about the franchise fee from the outset and should be able to answer any questions or financial concerns you may have. The initial investment for a Kitchen Tune-Up remodeling franchise is $72,000 and is designed to make the purchase as turnkey as we can.
If you are unsure if you have the capital to start a kitchen remodeling franchise, we can discuss financing. This can be done through business loans or franchise funding companies. For those that qualify, we also offer partial in-house financing.
To support the brave citizens who save lives and make our lives safer, our Veteran and First Responder Program provides an additional $7,900 discount.
The Knowledge Required for Kitchen Remodeling
With some franchises, it is vital that you have an in-depth knowledge of the market that you’ll be involved in. It might be that you are required to have a background in that industry already. To get started as a Kitchen Tune-Up franchisee, this isn’t the case; you don’t need a background in kitchen remodeling. In fact, only 7% of our franchise business owners had experience in the industry. We have franchise owners from diverse backgrounds; ex-military, accounting and finances, IT, sales, engineering, and dozens more.
We offer a comprehensive training program that will ensure that you can run your Kitchen Tune-Up remodeling franchise like an expert. Learning is ongoing, and you will continue to receive a wide range of further training to expand your knowledge after your initial start-up.
Your journey begins with a home study guide that sets the foundation for your business, followed by 8 days of on-site training at our home office. Using our facilities, our team of experts will teach you how to operate a successful home improvement franchise. You’ll learn about accounting, sales and marketing, and much more.
Once you finish your on-site training, you will be assigned a mentor who will assist you with a 12-week action plan. Once your 12 weeks are up, you’ll be assigned a connector who will regularly check-in with you. We welcome our franchisees to phone us with any questions they have or advice needed.
Characteristics of a Successful Franchisee
As we’ve mentioned above, you will receive all the training needed to run a successful kitchen remodeling franchise, and the longer you stay in business, the more knowledge you will gain. You don’t need to have any woodworking or cabinetry skills, as you’ll be leveraging employees to carry out these tasks. As such, you’ll be working on your business and not in it.
Many of our franchise owners run successful businesses with no previous experience in remodeling or sales and marketing. That is why teaming up with a proven remodeling franchise is ideal; you aren’t required to have any prior knowledge or skills. You’ll get all the training you need as well as experts with years of experience to help you if you do get stuck.
However, there are certain qualities you will require to achieve success as a franchisee. These require an honest self-assessment; if you think you might be lacking in any of the traits below, then you might need to reconsider your options.
Follow the System
Many of us decide to take the plunge and run a franchise because we want the independence it offers. However, this isn’t an excuse to be a maverick and do things your way! Successful franchises have developed systems over many years; by duplicating a proven business process, you can replicate their success. If you’re not going to follow their procedures and rules, then you might as well go it alone and not benefit from their years of experience.
Communication and Interpersonal Skills
A home improvement franchise is a customer orientated business; you’ll be dealing with customers and potential clients on a daily basis. If you don’t have good interpersonal skills, it will be challenging to achieve rapport or trust with your customers. The same applies to your employees; the better your communications skills, the more respect they will give you. Besides, if you aren’t communicating effectively, it can result in the work being carried out incorrectly.
Business Owner Mindset
If you’ve come from a background where you didn’t have to manage staff or organize and juggle many tasks, you will have to take on a different mentality. A shift from the employee mindset to that of a business owner is required. You’ll need to be able to delegate and manage and look at the big picture rather than the minor details of the business.
Finding a Trusted Kitchen Remodeling Franchise
Having the right attributes to be a successful franchisee, such as people management and customer service skills, won’t get you anywhere if you don’t have a great franchise system with experienced and friendly professionals backing you up. One of the testaments of a great brand is longevity, and with over thirty years in business, Kitchen Tune-Up has only gone from strength to strength.
We’ve already discussed our unparalleled and comprehensive training program, but as the home improvement industry is always coming up with new ideas, we keep you up to date with the latest information available. Throughout the year, we offer coaching calls, webinars, you can read and join in the discussion in our private Facebook group, and more. Every year we hold a 3-day National Reunion with further training from our experts and other professionals. Also, you get the chance to network with other franchise owners.
If you want the independence of your own business but with the benefit of an experienced support network behind you, we could be the best kitchen remodeling franchise opportunity for you. See more about the Benefits we offer or contact us today to start your journey to Kitchen Tune-Up franchise ownership.