Since the dawn of time, humans have sought to control nature and the wilderness around them. Fencing is a centuries-old industry that meets the demands of both commercial and residential customers alike. As a stay-at-home parent considering re-entering the workforce on your own terms, you may be wondering if franchising is the path for you, and specifically, if it’s possible to buy a fencing franchise.
If you’re familiar with some of the basics of franchising, you’ve likely come across the term “franchise agreement.” A franchise agreement is a legal document which outlines the rights and responsibilities of both the franchisor and the franchisee. Generally, the franchisor is the company or individual who owns the concept, while the franchisee is the individual purchasing and operating the business. To get an idea of what franchising entails, let’s take a closer look.
First and foremost, it’s important to analyze the current conditions of the fencing industry. According to the 2019 ChainLink Fencing Industry Report, the fencing market is continuing to grow, with demand for residential, industrial, agricultural, and security fencing high in the US. Furthermore, the report projects that the fencing market will continue to grow at a compound annual growth rate of 5.73% through 2025. This growth equates to an estimated $25.3 billion a year, and is a positive indicator for prospective franchisees.
But entering the market can be daunting, and that’s where franchising comes in. Franchises provide the framework and the groundwork to help guide your journey into owning your own business. The advantages are numerous: Most reputable companies have done their research and have a proven track record of success. This means they have likely personally encountered obstacles you are likely to face and come up with viable solutions. Also, you are likely to benefit from a built-in brand name.
When purchasing a franchise, however, you must understand your obligations and the terms set forth by the franchisor. You will need to sign a franchise agreement that outlines guidelines, fees, and training. It’s also important to factor in all additional costs associated with a fencing franchise. Much like any other business, start-up expenses include rent, insurance, permit fees, and equipment. In addition, you must also account for monthly fees associated with franchising such as royalties, marketing, and legal fees.
The great news is that the fencing industry offers numerous possibilities for franchisees. Companies such as All American Fence, ShieldFence, and U.S. Fences offer a variety of franchise opportunities in both residential and commercial sectors. Remaining competitive on pricing is also key to getting established with customers, especially in a highly competitive market. You may choose to offer additional services such as maintenance contracts, security systems, and specialized fencing products to differentiate yourself from the competition.
By thoroughly researching the franchisor and industry, you can make an informed decision on whether a fencing franchise is the right fit for you. Ultimately, if you’re able to match the franchisor’s commitment to success with your own hard work and dedication, buying a fencing franchise might be your key to a successful re-entry into the workforce.