“Home is the nicest word there is.”
— Laura Ingalls Wilder
No matter how the real estate market fluctuates, home ownership remains central to the American dream. Caring for a home is an ongoing concern, from regular maintenance such as landscaping and lawn care to more occasional services like bathroom remodelering or wood floor refinishing.
The importance of regular home maintenance
Homeownership undoubtedly comes with a significant financial outlay, but it can prove to be a sound investment with the proper care and maintenance. The average American household spends
more than $3,000 a year on repairs and maintenance. While that amount can vary depending on the age of the home, more than 40% of home maintenance repairs are the result of normal wear and tear. Keeping up a home ensures that your investment doesn’t lose value if and when the house is sold and is a source of pride for many.
The use of property service franchises maintains the comfort of a home. Whether it is a functional HVAC system or a leak-free roof, safety is another reason homeowners need regular maintenance to prevent accidents and hazards from faulty wiring or cracked foundations. Finally, energy-efficient upgrades significantly reduce utility bills, a financial benefit for homeowners, as well as a boost for the environment.
According to
Statista, about 10 million current U.S. homes are between 20 and 31 years old. This indicates the housing market’s need for maintenance and repairs will only increase as more homes age and require updating.
What is a property service franchise?
The aging of homes in the U.S., people’s burnout with DIY trends and the lack of affordable homes are creating a perfect storm for demand for property service franchises. A broad category, property service franchises are businesses that provide maintenance and repair care to homes and commercial properties. These services range from cleaning services to roof repair, from handypersons to plumbers.
According to Small Business Trends, property owners spent $538 billion on home improvement projects in 2021, and estimates for these home services are expected to increase to $621 billion by 2025. These businesses benefit from repeat business from homeowners and older baby boomers seeking to age in place.
If franchising appeals to you, it’s essential to consider how much you want to be involved. Working with a franchisor with a strong support system is also important. Some franchise systems require their franchisees to have specific skill sets and experiences, while others don’t require a background in the franchise’s field.
Additionally, franchises in the home repair and maintenance category offer a range of advantages for aspiring entrepreneurs and investors:
One of the most commonly needed property service providers is painters. After all, when someone moves into a new home (if the seller didn’t already do it), what’s the first thing they typically do? Paint!
Improving lifestyles one color at a time
Painting is one of the easiest and most affordable ways to update any space, whether a home or business. Five Star Painting has redefined the house painting industry in the U.S. with a values-based business culture focused on integrity and incredible service. Founded in 2004, Five Star Painting has expanded to more than 190 franchise territories nationwide. In January 2015, Five Star Painting was acquired by Neighborly®—a community of home service franchise businesses with 28 brands and 4,500-plus franchise locations worldwide.
A Five Star Painting franchise provides the individual support needed to run an excellent painting franchise without you ever having to hold a paintbrush. They offer franchisees:
From marketing to training, technology and discounts, joining Five Star Painting offers savvy investors an inroad in the growing property management field. With the property management industry at the forefront of change, franchises can be confident they are selecting a safe investment for their future.
Home repair and maintenance franchises play a vital role in helping homeowners protect their investments and create safe, comfortable living spaces. As the demand for these services continues to rise, franchise opportunities in this industry offer aspiring entrepreneurs a chance to build a successful business while providing essential services to their communities. Whether fixing a leaky faucet, restoring a fire-damaged home or maintaining a pristine residence, home repair and maintenance franchises transform houses into homes, one repair at a time.
What makes franchising so appealing is that it offers entrepreneurs a way to pursue their dream of owning their own business with the backing and guidance of a proven and successful business model. If you want to explore what a franchise could do for you, working with an experienced franchise advisor can streamline the process. Franchise consultant Seth Lederman can help save you time and money and help you find the best franchise for you and your dreams.
About the Author
Seth Lederman, CFE, a Franchise Acquisition and Development Specialist, is a multi-faceted entrepreneur with over 30 years of experience in small business success, including ownership and sale of his business enterprises. He frequently contributes to The Franchise Journal and is on the exclusive Forbes Business Council. Contact him at 312-307-1297 or seth@thefranchiseconsultingcompany.com.
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