Opening a home staging franchise is one of the many possible business opportunities for people who are interested in a career in real estate enhancement. Franchises are a popular form of company model which allow new entrants into the industry to benefit from a preexisting name and reputation. Additionally, franchising is also a great way to expand your own successful staging company, allowing it to grow to heights you might never reach on your own. Of course, all these benefits come at an often high financial price.
This essay examines franchises within the home staging sector. We will investigate the value of opening an existing franchise location, as well as provide guidance for franchising your own company.
What is a Home Staging Franchise?
A franchise is a business model in which a company trains and certifies new owners of individual locations to represent the parent organization. In the case of home staging, franchisees are trained in the general and specific types of staging services offered, as well as business skills and marketing.
The parent company will help the franchisee select a location for their business and will even provide them with ongoing support services in exchange for recurrent franchise fees. The franchise model has been used successfully in a great number of industries and still represents one of the best ways of enjoying the perks of business ownership, without going it alone.
Home Staging Franchising Opportunities
There are 2 distinct ways in which a franchise can be used in the home staging sector.
The first is applicable for new or established stagers who want to start their own staging businesses. However, they feel that starting from scratch will take too long, or be too difficult, due to tremendous competition or other factors. Therefore, they instead desire to open a franchise of a well-known staging firm to immediately capitalize on the parent company’s success.
The second way that a franchise model can be used in real estate staging is when a successful firm has grown to multiple locations locally and needs more opportunities and personnel if it is to continue expanding regionally, nationally and eventually, globally. In this case, starting a franchise program will help in recruiting new personnel and finding new locations, which will increase the overall size, presence, market-saturation and economic strength of the parent organization.
Home Staging Franchise Analysis
Franchising is expensive on both ends of the equation.
For parent organizations, there are many costs involved in starting a franchise program, as well as providing ongoing support services to franchisees. This is why it is crucial to have a solid business plan and understand exactly how many franchisees you will need in order to make the program work profitably.
For new business owners, the cost of opening a franchise can be considerable, when compared to starting out alone, but there are also benefits which are apparent from day one.
My advice? For potential franchise developers, make sure your company is large enough to support such expansion efforts and has the cash flow to survive the considerable expense of developing the franchise program and marketing to potential new owners.
For business buyers, weigh the pros and cons of owning a franchise. If you decide to go forward, be sure to choose the company which provides the best chance for large-scale, long-term success; not just the one with the cheapest franchise fees.