Are you passionate about providing home services and refurbishments? Interested in helping people get the best out of their homes? If so, you may be perfectly suited to start a franchise with Solatube Home. Opening a franchise is a great way to challenge yourself, test out your entrepreneurial skills, and gain valuable business experience. If you’re wondering how to start a franchise in the home services industry, there are a few things you should consider before you begin.
How to Start a Franchise in 7 Steps
When you open a franchise with Solatube Home, you purchase part of an independent home services company that has operated successfully for 30 years. By signing up, you agree to run your franchise according to Solatube Home’s brand ethos and business practices while still maintaining your own individual style and creative flair.
1. Evaluate Your Motivation
Before you get serious about starting a franchise with Solatube Home, you should carefully evaluate why you want to run this franchise and whether this is the right decision for you.
Running a franchise requires a large time investment and takes just as much dedication, determination, and effort as running your own company. Be sure that you are prepared to take on this work and responsibility before you commit to running your own franchise.
2. Discover Franchise Opportunities
Before you start your franchise, you will need to do some market research and find out about franchise opportunities that exist within your chosen area. Solatube Home has experts on hand to talk you through all stages of this process and the possibilities that are available within their franchising scheme.
We also prioritize training and education for our franchise owners, so you can discover opportunities in your area of expertise or learn a whole new set of home service skills to elevate your business. This gives you the potential to diversify the services you offer.
3. Consider Your Location
Choosing a franchise is, in many ways, like starting a business of your own. No matter how motivated you are, you’re unlikely to find success in an area where there’s no demand for your product or where there is too much competition. Solatube Home offers a wide range of potential products and services for exploration, meaning that you can tailor your franchise’s operations to suit demand in your area.
Solatube Home’s expert team also offers training and advice to help you select your business location and choose the services you provide. There is also ongoing training available so that you can keep increasing your skills and constantly find ways to branch out and make your franchise more versatile and adaptive.
4. Cover Your Costs
Before you open any business, you should draw up a detailed budget and analysis of your potential costs. Like most businesses that operate franchise services, Solatube Home charges a franchise fee that must be paid upfront before any business transactions have taken place. You should ensure that you can cover the costs of this fee before you consider starting a franchise yourself.
You will also have to invest in your business by purchasing the necessary equipment, tools, and supplies. Financing is available through many outlets. Solatube Home can point you in the right direction, as well as help you evaluated financing options.
Solatube Home charges a 4% ongoing fee to its franchisees. This money is reinvested in Solatube Home and goes towards the growth of Solatube Home franchisees, funding training services, and internal educational programs.
5. Think About How to Market Your Services
Inventive marketing is an important feature of any business or franchise. It’s important to get your message out there and promote your product. For example, you might want people to know that you have an exclusive deal on Solatube skylights or on home ventilation systems.
Even when you are part of a large, well-known brand, it is still vital to promote your individual franchise. Solatube engages in large-scale marketing and lead generation ventures to ensure that we attract customers and spread the word about their premium services. Solatube Home will assist franchisees with local marketing and we offer marketing training courses to our members and employees.
Franchisees of Solatube are also expected to contribute around 2% of their gross annual earnings to a company-wide marketing fund that promotes our ventures on a national level. This contributes to our brand’s overall visibility and showcases Solatube products, helping everyone boost sales without taking away creative autonomy from individual franchises.
6. Get Your Documentation in Order
Understanding the required documentation is one of the most important things you should know when learning how to start a franchise. Firstly, you should ensure that your own personal documentation, such as your tax history, insurance details, or credit score, is up to date and in order. Franchisors may also want to see residency or citizenship documents if you are working somewhere that is not your country of birth.
Once you’ve made these arrangements yourself, Solatube Home can set up a meeting so that you can ask any questions and discuss the terms of business with us. If this meeting goes well, Solatube Home will then provide you with a franchise disclosure document. This document clearly lays out information about any initial costs and any expectations that the franchisor has from you.
Once you have approved these terms, you can begin to draw up the franchise agreement. Solatube generally offers an initial contract of five years, followed by the offer to renew this twice if your venture is successful.
7. Receive Training
You’ve met your future business collaborators, drawn up and signed the papers, and now you’re ready to begin your journey as an official Solatube franchisee! From the moment you start your partnership, Solatube Home offers specialized training regarding our policies, practices, and guidelines that will help you on your way to running a successful home services franchise. Now all that’s left for you to do is start your business!
Solatube franchise opportunities can give you the chance to take your career to the next level. For more information visit Solatube Home Franchising today!