Pros and Cons to Owning a Construction Franchise
If you are like many people who have a “can do” and entrepreneurial mindset, chances are you have given thought to how nice it would be to pivot to a new career that allows greater control over your career and income potential. And because the franchise industry is forecasted to grow at a rate of 3.5% over the next 2-3 years, the next question you might be asking yourself is, “which franchise sector should I explore?”. One franchise industry that many prospective home-based business owners are considering is the construction franchise sector. Aside from offering the flexibility to balance nearly all personal and family requirements while sustaining a lucrative professional career, owning a home-based construction franchise offers several pros and cons. Let’s take a close look at what these are so you can explore the construction franchise space with greater confidence, and ultimately, make the ideal, informed decision that will lead to an exciting next chapter in your career.
Construction franchise advantage #1: The construction sector is growing.
Most experts expect the construction industry to grow at about a 4% pace over the next several years, and as such, this demand needs to be fulfilled by adequate and qualified supply. In addition to the economic need in favor of the construction industry, starting a construction company or any company right now is as good a time as any with interest rates still relatively low and banks still very willing to extend business loans to new companies and franchisees.
Construction franchise advantage #2: A technological shift is taking place…for the better.
Since most established so-called “legacy” construction companies have done little to increase innovation in their industry, a void exists for some sub-segments, based on a combination of established demand and unmet technological needs in the residential construction industry. The result is that, depending on the specific construction category, a construction franchise owner can leverage the latest technology, leading to a highly successful home-based franchise. One example of this trend in tech is Concrete Craft®. As a nationally branded expert in stamped concrete, resurfaced concrete, stained concrete, and concrete restoration, Concrete Craft is the recognized leader in decorative concrete coatings. One of their primary technology and competitive advantages stems from their exclusive process and techniques, which includes a hand-cut and custom-colored system that produces a lasting finish that simulates real stone.
Construction franchise advantage #3: A growing demand.
With homeowners spending more time at home, and many now transitioning to working from home, there is increased demand for updating and beautifying homes. Homeowners are looking to improve their interior and exterior, and for decorative concrete, most prefer to use the services of an established, branded company such as Concrete Craft. With now over 100 successful franchise locations in North America, Concrete Craft boasts an unmatched footprint, and they are backed by Home Franchise Concepts, (HFC), the leading home service franchisor in North America, and the parent company of successful brands such as Budget Blinds®, Tailored Living®, AdvantaClean®, and Kitchen Tune-Up® and Bath Tune-Up™.
Construction franchise disadvantage #1: Increased competition.
If you’re considering owning your own construction franchise, you’ll need to be aware of your competitors. And while many will be independent, local companies, few will have the national platform and expertly trained professionalism of Concrete Craft. So while initially your competition may seem like a challenge or barrier to your success, you can be confident that investing in owning a Concrete Craft home-based franchise provides you with the support and training to ensure you have both short and long-term success.
Construction franchise disadvantage #2: Increased marketing clutter.
With increased competition, increased marketing clutter is sure to follow, since construction companies want to create awareness about their services and target prospective customers in their trade area. Fortunately, many franchise companies, such as Concrete Craft, provide robust, targeted marketing support so you can penetrate the market and generate qualified leads for consistent growth in your business. In fact, Concrete Craft offers a national, comprehensive marketing program to all franchisees through its National Advertising Fund (NAF). Your NAF dollars are used for national campaigns that support you with highly effective digital marketing campaigns that includes email campaigns, social media (Facebook, Instagram, blogs), and professional product photography and with marketing templates and implementation guides for your local campaigns.
There’s no better time than now to get started with owning your own construction franchise business.
With the popularity of homeowners enhancing their home’s exterior and the strong forecast for home improvement and construction company growth, now is the perfect time to explore the next step on your path to a secure economic future. Concrete Craft continues to expand as the leader in decorative concrete and we’re looking for entrepreneurs who have that “can do” mindset. Call 1-800-420-5374 or explore the Concrete Craft opportunity online. You can also visit Home Franchise Concepts , the parent company to Concrete Craft and a leading home service franchisor in North America, to learn more about franchise ownership with our sister brands in the booming home improvement space. One of our franchise licensing advisors will be happy to answer any questions you have and assist you with evaluating whether franchise ownership is right for you.