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Popular Flooring Franchise Opportunities

Are you and your spouse seeking more freedom and flexibility in your work life? Investing in a flooring franchise can provide that plus so much more providing you do your homework. If you are considering investing in a flooring franchise, you likely have many questions related to startup costs, potential earnings, and more. The International Franchise Professionals Group (IFPG) is here to provide answers to the most common questions when it comes to investing in a flooring franchise.

What are the different franchising models?

As you begin to research different flooring franchises, you’ll discover there are two common franchising models: the product-based model and the service-based model.

The product-based franchising model features a parent company selling certain products that are produced in a facility owned by the parent company, and then sold to franchisees who in turn earn profits from the sale of the products to customers. In the case of a flooring franchise, products might include hardwood, laminate, tile, vinyl, rubber, bamboo, carpet, area rugs, and more.

The service-based model refers to franchises that provide a service rather than products. In the case of a flooring franchise, the franchisee provides services such as installation, repair, and restoration.

What upfront and ongoing costs are associated with a flooring franchise?

Before committing to open a flooring franchise, it’s important to understand the associated costs. This includes the initial investment and royalty fees as well as additional salaries, operational costs, and more.

Initial investment will likely include purchases of equipment and the products to be sold as well as office furniture and other office necessities. The cost will also include the franchise fee; this is the amount you will have to pay the parent company as part of a franchise agreement. The amount can vary depending on the franchisor.

Ongoing costs include the predetermined royalty fees outlined by the franchise agreement. The royalty rate is typically calculated as an annual percentage of total net sales from the franchise. Additional costs to consider include staffing and salaries, insurance and rent, marketing and advertising, and any other operational costs associated with running a business.

What support can I expect from the franchisor?

When you invest in a flooring franchise, you are securing a ready-made business that should provide support and resources along the way. This includes business training during the onboarding process as well as ongoing support.

What type of support you can expect from the franchisor depends on the individual company. Many franchisors provide ongoing access to specialists such as marketing, business development, legal, operational specialist, and more. Many franchisors also provide access to industry-leading technology, as well as training materials which franchise owners can access 24/7.

Are repairs and restorations part of a flooring franchise?

Yes, repairs and restorations are typically an integral part of a flooring franchise, especially for service-based franchises. Many view repairs and restorations as a way to extend the life of a floor, saving customers money in the long run.

When it comes to repairs, franchisees typically are able to provide repairs for any type of flooring from hardwood to tile to carpet. Repairs may include items such as removing stains, fixing buckled floors, and removing scratches.

In terms of restoration, many flooring franchises offer these services mostly for hardwood flooring to restore its original finish. This may include removing all the wax from the boards, sanding down the boards to a uniform level, and refinishing the boards with an appropriate finish.

How do I start the process of investing in a flooring franchise?

Investing in a flooring franchise can be extremely beneficial for aspiring entrepreneurs seeking more freedom and flexibility and the potential for unlimited earnings.

The first step in the process is to do your homework and conduct exhaustive research. This should include financial statements, market review, attendance at franchise shows and expos, and more. Once you’ve narrowed your top franchise prospects, it’s important to contact the parent company and understand the process, timelines, costs, and levels of support they provide to franchisees.

The IFPG is here to help. Our team of specialized franchise consultants can provide you with the tools and resources necessary to make an informed decision about which flooring franchise is right for you.

Topics:

Flooring Franchise,

Flooring Franchise Costs,

Flooring Franchise Support

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