It’s not without careful consideration that one decides to open their own business. And among that careful consideration comes some honest face-to-face conversations – with the mirror. But if you’re considering franchising and looking into different home improvement franchises, there are a few specific questions you should be asking.
Here are four we recommend:
Can You Afford to Open a Franchise?
There are several costs to consider when deliberating opening your own business. And while most franchisees will opt for financing instead of paying the lump sum up front, repaying those loans still becomes a monthly financial burden sooner rather than later, especially as your business grows and has not yet begun turning a profit.
You also need to consider things like how long it will take to begin turning that profit, something an examination of your Franchise Disclosure Document (FDD) might shed some light on. There’s also the question of how you will get financed, and of course you need to consider whether your personal finances are in order so that you can afford living expenses while waiting for a return on your investment.
As the old adage goes, it takes money to make money.
So what type of investment are you looking at making?
When choosing Granite and TREND Transformations, your initial investment can be as low as about $219,000, which includes the franchise fee of $35,000 and three months of additional funding to get you on your feet.
For more details on what an investment with TREND looks like, click here.
What Resources Does Your Company Provide?
The perks of franchising versus starting a business from scratch largely come in the form of the support system you receive by doing so. Without a good support system, a sustainable foundation, and a repeatable model, there isn’t much reason to franchise.
Among those resources include training, both before and after you open, and other resources, like staffing assistance, marketing funds and tools, and more. In fact, franchising even usually helps you finance your business endeavor, if only because you (in theory) have a history of success, a proven track record, and a detailed business plan with examples at your disposal from Day 1.
At TREND, we provide a comprehensive general training program with visits both to your location and training at our facilities, plus continued online support. We also help with operations management, financial management and personnel management, as well as marketing strategies and resources.
Plus, with our unique product special exclusive to TREND and an industry-leading efficiency, you’re already well ahead of the game.
How Successful Is This Franchise, and Are Other Franchisees Happy?
With that exclusive product line and unparalleled service, our customers are always satisfied. But don’t take out word for it: Granite and TREND Transformations was named the No. 1 kitchen and bath remodeling franchise in Entrepreneur’s 38th annual Franchise 500 awards.
Even celebrities love our work!
Plus, our industry is booming with demand, so you’re set up for success from the moment you walk in the door.
For more information on why you should franchise with TREND, click here.
Do You Have What It Takes?
Do you like this industry? If not, in what ways do you anticipate being happy and fulfilled? If you do, are you prepared to turn your passion into work?
What is your experience like – either in business or in the home renovation industry? Can your strengths outweigh your weaknesses long enough to get off the ground, hire the right people around you, and delegate?
These are just a few of the other self-reflection questions you should be asking. For an idea of what a day in the life of a Granite and TREND Transformations franchise owner looks like, click here a