Franchising 101
It's a relationship and an opportunity
A franchise is a business model in which a company (the franchisor) gives other parties (franchisees) the right to use its trademark to sell goods or services according to its terms. (The legal contract for this arrangement is usually called a franchise agreement.)
The franchisee may benefit from the company’s established business systems, recognized brand, training programs, and other support. These benefits are typically given in exchange for an initial investment, a franchise fee, and a set percentage of sales revenue (royalties).
Business Ownership Made Easier
Franchising is designed to make business ownership more accessible because the initial investment of time, money, and effort are generally less than starting a business from scratch. However, franchising isn’t for everyone. Some entrepreneurs don’t like the structure that a franchise provides, while others thrive because of it.
The decision to become a franchise or an independent business owner all on your own is a personal one. Neighborly provides the information to make the right move for your professional and personal goals.
Home Service Franchise Opportunities
When you find an opportunity and industry that really suits you, franchising can be rewarding in both the short and long term. If you’re interested in the home services industry — from house cleaning to HVAC to landscaping—connect with us at Neighborly. As a franchise business owner of one of our national award-winning brands, you’ll maintain independence and flexibility while having access to ongoing training and support.
Neighborly is proud to give aspiring and existing business owners the chance to stand out in competitive industries and build the lives— and the legacies —they’ve always wanted.
Research has also shown that people who work for themselves are often happier. As your own boss, you’re able to manage your own time, express yourself creatively, and make money doing what you love. But not everyone fits the mold. For some, being the boss can lead to isolation or an uncomfortable lack of structure.
You know yourself better than anyone, so take the time to consider the pros and cons of being the boss. If you decide that being your own boss is your next career step, then you have plenty of career options, including:
- Contract or freelance work (copywriting, furniture building)
- Owning a franchise (an established regional or national brand)
- Owning a product-based business (restaurant, brewery, fashion, commercial retail)
- Owning a service-based business (tech support, fitness, graphic design, house cleaning)
The Security and Structure of an Established Brand
Out of the many possibilities for being your own boss, franchise business ownership is the most structured option. Typically, the franchisor (parent company) provides established business systems that you can follow to mitigate risk. In addition, franchise ownership provides: the following:
The Neighborly® Difference
When you find an opportunity and an industry that really suits you, franchising can be rewarding. If you’re interested in a home services industry — from house cleaning to HVAC to landscaping — connect with us at Neighborly.
Neighborly offers unique opportunities to be your own boss and reach your full potential. In addition to the standard benefits offered by any reputable franchisor, we provide our franchisees with networking and cross-promotion opportunities, vendor discounts, and lead generation support.
When you choose a home service franchise opportunity with Neighborly, you’ll have the independence of being your own boss while receiving unbeatable support from a large network and nationally recognized organization. Every step of the way, Neighborly is committed to your success.
To find out which of our home services brands is right for you, fill out our form to connect with a franchise advisor.
Why Invest in a Franchise?
Franchise ownership offers freedom, flexibility, and the opportunity to control your financial destiny. And, unlike independent entrepreneurs and standalone business owners, franchisees have the benefit of backing and support from a proven, national brand.
When you’re in charge of your own business, you can set your schedule, make staffing decisions, advertise and market to your specific community, and run day-to-day operations on your terms. Leave behind the guesswork and uncertainty that comes with standalone business ownership. As the world’s largest franchisor of home services brands, Neighborly has more than {FranchiseOwners} franchise owners who have realized great success from being a part of our growing organization.
Being your own boss and securing the funding to do so isn’t as far out of reach as you may think. Here are some options for financing a franchise, but keep in mind that each franchisor may have a more specific list of acceptable financing options.
- Pay in Full (self-capitalized)
- Commercial bank loans
- SBA loans
- Alternative lenders
- Investment Account rollovers (401K)
- Franchisor financing
- Friends-and-family loans
Yes, there’s more than one way to buy a franchise! Get the details below.
Franchise training and support are often the main reasons that entrepreneurs choose franchising instead of traditional, independent ownership. However, not all franchisors offer first-rate franchise training. Even if a corporate franchise claims to have an excellent system, their business training for franchisees may not last more than a couple of months. Neighborly and its franchise brands are with you every step of the way.
A quality franchise training program may include the following 10 items:
- Ongoing business training for the franchisee throughout the life of the contract
- Individualized advice from a dedicated business consultant
- A deep dive into your business plan
- Dynamic franchise training that deals with the latest industry and market innovations
- Technology training (bonus points if key technologies are provided)
- Marketing training based on established systems
- Franchise management training and leadership guidance
- One-on-one access to industry mentors
- Regional training events and conferences
- Recruiting and onboarding training materials and guidance
Neighborly offers an array of franchise opportunities with well-known, trusted, and proven home service brands, and supports each franchise owner with comprehensive training and support. With Neighborly franchise ownership, your professional and personal dreams can come true.