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Open a New Business Location
Open a New Franchise Location
For many entrepreneurs, the start-up phase of a business is the ultimate high. It's a time when anything is possible, the opportunity to create something out of nothing is yours for the taking, and you can leave your mark on every aspect of the business. You can go at it alone, or you can go with Neighborly®.
When you launch your own business, you’re essentially taking control of your financial future. You decide who to hire, when to expand, and how to operate on a daily basis. Owning a franchise in a recession-resilient industry like home services can grant you greater freedom, flexibility, and ongoing professional opportunities. The Neighborly family of brands are established, customer-centric businesses that have stood the test of time to provide steady growth and positive performance.
You do not need any previous industry experience to own a home service franchise. So whether you’re looking for a way to leave a legacy, start a second career, or add extra income during retirement, franchise ownership offers new business opportunities that are exciting, satisfying, and profitable.
Starting up a business within the Neighborly family retains all of the excitement with less of the drama. From location strategies to time-tested marketing programs, you'll have immediate access to an expansive network of people with a stake in your success and processes with an established track record.
Convert an Existing Industry Related Home Service Business
Convert Your Existing Business
Running your own business can be incredibly fulfilling; it can also be difficult to build and maintain it alone. By joining forces with a well-known franchisor, your years of hard work are combined with our established marketing strategies, training programs, retention solutions, and more.
When you choose to roll your business into a franchise with a nationally recognized brand, there is a support network beside you. Excellent franchisors take care of many of the day-to-day repetitive tasks so you can focus on your passions and talents. It's still your business. Neighborly and one of its many brands can help you make it stronger.
Is Small Business Franchise Conversion Right for You?
Entrepreneurs usually choose to open a business in an industry they’re passionate about or have experience with. The startup process can be exhilarating, but many owners aren’t prepared to deal with tasks they might be less familiar with, such as marketing, inventory, payroll, and more.
Even though opening your own business can be incredibly fulfilling, it can be difficult to build and maintain it all alone.
Here are some challenges that many solopreneurs face:
- Building a well-informed business plan
- Establishing a customer base from scratch
- Build a recurring customer base
- Trying to do it all (marketing, sales, business systems, and more)
- Achieving work-life balance
- Managing the business reputation
- Finding and retaining good employees
- Maintaining a strong digital presence
These struggles are some of the key reasons that so many people choose the path of small business franchise conversion. An established franchisor can take the weight off your shoulders when you convert your business to their brand.
Franchising as a Small Business Growth Strategy
When you choose to roll-in your business to a franchise, you benefit from a support network beside you. Excellent franchisors take care of many tasks so you can focus on your passions and talents. It’s still your business, but you’re using franchising as a small business growth strategy and a path to better work-life balance.
Choose a well-known franchisor that already has established systems, such as training programs, marketing and advertising strategies, modern technologies, and equipment discounts. By selecting an established franchisor, you can be sure you won’t lose the progress you’ve made or take unnecessary risks, which are problems you’re trying to avoid with your current business.
Converting to a franchise with a nationally recognized brand is especially beneficial. Customers will already have a positive view of your locally-owned franchise, which can lead beyond that invisible wall that may be keeping you from reaching your original business goals.
How to Turn Your Small Business into a Franchise
Here are the key steps:
- Take the time to prepare your staff.
- Carefully evaluate franchise opportunities.
- Interview your top franchisors to choose one. Ask questions about all key changes required during the small business franchise conversion, as well as pros and cons of owning your chosen franchise.
- Review and sign a franchise conversion agreement.
- Finance your franchise and pay a franchise fee.
- Learn the franchise’s brand guidelines and established systems. Quality franchisors offer orientation, conferences, and ongoing business training to help with this.
- Run your business as you enjoy more freedom and quality of life!
- Pay any ongoing royalty fees.
That’s the concise explanation of how to make your business a franchise. However, the daily process will depend on the franchisor, so keep this in mind as you’re doing research. Some companies don’t offer franchise conversions at all because they’re only looking to create new locations or sell existing units (when a current franchisee retires or decides to sell).
Benefits of Converting to a Neighborly® Franchise
Do you currently run a business in the home service industry? Consider converting your business to a Neighborly home service franchise. These are the most common Neighborly brands that current business owners transition to: Aire Serv®, Rainbow International®, Mr. Rooter®, The Grounds Guys®, Mr. Electric®, and Glass Doctor®
Here are some of the benefits of owning a Neighborly brand franchise:
- Independence, with excellent support. Learn how one plumber transformed his business into a Mr. Rooter
- Positive, national brand name recognition
- Ongoing business training and systems support training
- Supplies, equipment and services at a discount through PTN
Established Franchise Locations for Sale
Why Consider Buying an Existing Franchise Location?
Have you always dreamed of owning your own business? Are you an entrepreneur looking to expand? If so, consider buying an existing franchise business location.
Whether you’re searching for franchises for sale near you or you’re open to relocating, there are a variety of benefits that come along with franchise resales.
Benefits of Buying an Existing Franchise Location
When searching for franchise resales, you may discover more benefits than you expect. Building a business from scratch can be difficult, time-consuming, and risky, but buying into an existing franchise location may mitigate those pain points.
Here are a few benefits of choosing the route of an existing franchise location that’s for sale:
- May already have a positive cash flow.
- A customer base is likely already established.
- The business may already have trained employees.
- The brand may already have a great reputation.
Misconceptions of Buying an Existing Franchise Business Location
Though many people automatically assume the business is for sale because it failed, there are many possible reasons for a franchise resale. For example, the current owner may be experiencing these potential life changes:
- Owner relocation
- Other business opportunity
- Retirement or pulling out capital after years of hard work
- Health or lifestyle changes
Let’s say you’ve decided you’re ready to buy an existing franchise location …. where do you start? Here are a few steps to help you purchase a business location for sale or previously owned franchise:
- Understand the current franchisee’s decision to sell the business.
- Get to know the current owner for the transfer process, as well as the franchisor facilitating it.
- Find out the financial requirements and what you can afford.
- Understand the franchise agreement.
- Seek franchise funding, using these tips.