Opening a franchise of any kind has its pros and cons. Many people wonder if it’s worth the risk or, on the other hand, if a franchise reduces their personal risk, making it safer than an individual venture. The carpet cleaning business can be a lucrative one whether you buy into a franchise or go it alone.
With many reputable carpet cleaning businesses that offer franchise opportunities, you have lots of options to choose from. The advantages of buying into a carpet cleaning franchise are notable.
- You’ll automatically be identified with a recognizable brand. You won’t have to make a name for yourself since the company has already done that for you. You will have less advertising concerns because everyone will know what your company does.
- A franchise parent company will outline every step of the business-building process so that you don’t have to guess about anything. This is perfect for anyone who feels overwhelmed by the many decisions that will need to be made. You will never be on your own deciding what the next step is in building your business.
- The parent company will provide at least part of the initial capital. This relieves the pressure for you to have to come up with a large sum of money at once. Some carpet cleaning franchises claim that you can buy into their company for as little as a few hundred dollars, while others estimate your cost to be a few thousand.
- Companies that franchise will offer training opportunities and support for up-start franchises. You’ll have access to all of the company’s resources and other franchise owners who may have valuable advice for you. Depending on the size of the company, you could have business partners in your city, state, or region.
However, you may decide that opening your own business is a better choice in your situation. There are distinct drawbacks of owning a franchise carpet cleaning company as well.
- The company will have ultimate control over many areas of your business. You will sign a contract that says you will follow their company policies to the letter, even if you don’t agree with them. If you owned your own small business, you would have control over these details.
- You may not get to choose your business location. Large parent companies often have scouted out storefronts that they want and are simply waiting for someone like you to open a franchise in that location.
- You won’t be able to resell the business for much of a profit, no matter how well it does, in contrast to an individually-owned small business that you could ask any price you wanted. The parent company will most likely set the resale value if you ever decide to walk away from the business.
While there is less startup cash needed for a franchise business than for your own carpet cleaning company, you will still have to come up with a down payment and periodical fees that you will be responsible for paying to the parent company.