Contracting Franchise (by Ned [AL]) Nov 21, 2020 7:22 PM|
Contracting Franchise (by Ray-N-Pa [PA]) Nov 21, 2020 7:42 PM
Contracting Franchise (by Richard [MI]) Nov 21, 2020 7:56 PM
Contracting Franchise (by Richard [MI]) Nov 21, 2020 8:05 PM
Contracting Franchise (by NE [PA]) Nov 21, 2020 8:36 PM
Contracting Franchise (by Dee Ann [WI]) Nov 21, 2020 8:53 PM
Contracting Franchise (by Ray-N-Pa [PA]) Nov 21, 2020 8:59 PM
Contracting Franchise (by Richard [MI]) Nov 21, 2020 10:10 PM
Contracting Franchise (by Robert J [CA]) Nov 21, 2020 10:24 PM
Contracting Franchise (by Barbara [VA]) Nov 22, 2020 6:47 AM
Contracting Franchise (by Scott [IN]) Nov 22, 2020 10:20 AM
Contracting Franchise (by Bill [KY]) Nov 22, 2020 11:09 AM
Contracting Franchise (by Oregon Woodsmoke [ID]) Nov 22, 2020 12:36 PM
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Contracting Franchise (by Ned [AL]) Posted on: Nov 21, 2020 7:22 PM
Any of you guys or gals ever considered buying a contracting type Franchise.
.ie Handyman Franchise, Plumbing Franchise, or Appliance Repair Franchise?
I've considered but never owned.
Contracting Franchise (by Ray-N-Pa [PA]) Posted on: Nov 21, 2020 7:42 PM
I am buying a Dollar General out of state, but this is a NNN purchase of the real estate only. I am not that excited about buying a business and running it.
I am looking for more mailbox money at this point --24.101.xxx.xx
Contracting Franchise (by Richard [MI]) Posted on: Nov 21, 2020 7:56 PM
Most of those type franchises act more like middlemen as far as I could tell at the time, when I checked them. I passed. There is one called Paul Davis Systems that does fire, water and mold damage restorations that I looked at as well but too many rules for me.
Perhaps, if you had a management team or even some real good foreman type workers so you did not have to spend extraordinary amounts of time on it, it might be doable. Thing is, most franchises want to dictate everything and have too many rules (at least for me). Not only is there a franchise fee but royalty fees and advertising fees, etc. To me, it looks like these type franchises have a central number customers call and then they refer the prospects to you. (I could do that myself with aggressive advertising). When I was a contractor in Calif, profit margins were typically 7-10 percent. If there was specialty stuff, maybe up to 25 percent. When you started making more than that, competitors would underbid you and you would lose jobs or not make money.
It's a bad feeling to work hard, pay all the costs, keep helpers and crews working and still barely make wages.
I remember clearly paying workers at noon on Fridays and come back at 1:30 and they would be gone. What particularly got me was there was a 4:00 PM Friday round trip flight to Hawaii for $125 that came back Sunday at midnight. The workers would run to the bank, cash their checks and go to Hawaii for the weekend. Then on Monday they would drag into work late and hungover. By Friday evening their wives would be calling and asking "Where's XXX?" I'd answer "He went to Hawaii for the weekend". Boy were they angry! "That so and so didn't even leave money for food! And so on.
I changed payday to Tuesday and told all the wives. Told workers not to worry as their wives would be picking up the checks and by the way, work ends on Friday at 5:00PM. About 1/3 of them quit. However, they were easy to replace. --75.7.xx.xx
Contracting Franchise (by Richard [MI]) Posted on: Nov 21, 2020 8:05 PM
I've also been looking at other options than having regular tenants. With all the govt stuff saying we can't evict, I don't want to sit there owing taxes and having to do repairs, etc with no incoming cash.
I recently read about the HUGE rise in travel trailer sales and motorhomes. This year had record sales. The article I read talked about having parking for these trailers. etc. Seems there's a shortage of parking.
Might be an opportunity there. --75.7.xx.xx
Contracting Franchise (by NE [PA]) Posted on: Nov 21, 2020 8:36 PM
I wouldn't want to deal with customers. Working for homeowners is awful. --70.44.xxx.xx
Contracting Franchise (by Dee Ann [WI]) Posted on: Nov 21, 2020 8:53 PM
Franchise, no, I'd rather be my own boss. When hubby retires he might do all sorts of handiman stuff with a former neighbor. They moved next door for a couple years until they recently moved not too far away. We encouraged him to start his own business and he's doing great with it. Hubby got to be friends and we hired him for some work and helped him a couple times. Hubby has been picking up appliance repairs at our places so he could do some of that. --186.233.xxx.xx
Contracting Franchise (by Ray-N-Pa [PA]) Posted on: Nov 21, 2020 8:59 PM
I could an opportunity there....if you have a means of placing the trailers or mobile homes on to recreational lots - it could be a large mark up.
Contracting Franchise (by Richard [MI]) Posted on: Nov 21, 2020 10:10 PM
That's one thing. I'm also talking about just providing a storage facility to park them for the off season. No one living in them, just lots of them parked in a field or industrial area paying several hundred for the winter season. and lots. Any idea how many could fit in an area the size of a football field? Several football fields? --75.7.xx.xx
Contracting Franchise (by Robert J [CA]) Posted on: Nov 21, 2020 10:24 PM
You can start a business from scratch or take over a current business from someone looking to retire for a lot less than a Franchise...I've bought out two plumbing contractors for pennies on the dollar. I got clients, trucks and inventory. The good will was priceless.. --47.155.xx.xxx
Contracting Franchise (by Barbara [VA]) Posted on: Nov 22, 2020 6:47 AM
My Daughter bought into a Sonic when she was 19. She made great money but worked her rear off. A lot of rules to follow and she still had to deal with corporate office in addition to everyone trying to "guide" her as she was so young. She did sell out a few years later.
Personally I feel she got a far better education doing that than if she was in college. --68.107.xxx.xxx
Contracting Franchise (by Scott [IN]) Posted on: Nov 22, 2020 10:20 AM
Instead of buying a franchise with all the rules and regulations, you could just sign up with Home Advisor. I did that for a while. If you get good customer ratings, your phone will ring off the hook. --107.141.xx.xxx
Contracting Franchise (by Bill [KY]) Posted on: Nov 22, 2020 11:09 AM
Thumbtack is another option if your looking to dabble in a trades business to see if you enjoy it before going full fledge.
Ive been looking at service biz franchises for a while and I get turned off by the process and the fees. I havenít found one Iíve been passionate about enough to take the leap.
Robert, would love to hear your strategy on buying those existing businesses. Did it happen by chance? Did you see the biz listed? Did you plant seeds with owners you wanted to buy, etc. thx --50.96.xxx.xx
Contracting Franchise (by Oregon Woodsmoke [ID]) Posted on: Nov 22, 2020 12:36 PM
For home repair and handyman sorts of things there is no reason to buy a franchise. Just buy the equipment and instead of paying franchise fees, spend some of that money on advertising. Only local advertising benefits you; national advertising does nothing for you.
Shop around for equipment and supplies instead of being forced to buy their high priced equipment and supplies. --76.178.xx.xx
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