Wear and tear are inevitable on hard floor surfaces, and virtually every home and business across the country has them. The National Association of the Remodeling Industry finds that homeowners can recoup 147% of costs when refinishing their floors. So, if you’re looking to get in to a franchise, floor refinishing is the perfect niche. Here are the five factors to consider when finding a flooring franchise that meets and exceeds your needs — and your customer’s goals.
1. Costs and Pricing
Floor refinishing franchises can be low-cost, high-profit investments — initial investments for a flooring franchise can range from $57,000 to $230,000. You need to know what’s included in those initial investment fees. That cost typically includes initial licensing, equipment, products, marketing, vehicle, phone, business licenses, training, insurance, computer, and permits.
At N-Hance, a wood refinishing franchise, the startup costs don’t break the bank. The total investment ranges from $58,000 to $197,000. N-Hance doesn’t require a storefront or many employees to get started, keeping costs low.
When looking at franchises to buy into, you want to consider their service prices. Of course, you will be marketing those prices, so you must feel comfortable telling customers how much they will pay for your service.
With N-Hance, we often refinish floors at a fraction of the cost of traditional refinishing, saving our customers thousands of dollars. In addition, the N-Hance process is quicker and cleaner, allowing you to get in and out of your customers’ homes quicker, charging them less money.
2. Franchise Reputation
When buying into a franchise, you take their name, including their reputation. Consider the franchisor’s history. Have they faced any litigation? Are they connected to another company that has a bad reputation? Check out customer reviews. While running your own business, you’re doing so under their name. Let their name help your business thrive, not tear you down.
3. The Method
To grow your business, you must promote your brand. It would be best if you believed your method was superior to your competitors’ methods. So, when looking at flooring franchises for sale, ask questions about how they perform their services. Do they use products that hurt the environment? How long does it usually take to refinish floors? What kind of inconvenience do they create for their customers’ lives?
Before you sign on the dotted line with a flooring franchise, make sure they have a proven business model and that you will receive training on it. They should have systems for processes like marketing, client services or billing and payroll. You’re investing a considerable chunk of change, so you don’t want to be flying blind.
It’s also important that the training and support don’t end once you’ve made it through your grand opening. Reputable franchisors ensure that franchisees stay current and feel supported throughout the life of their franchise tenure with their brand.
5. Scalability and Growth Potential
Understand the growth potential of the different floor refinishing franchises. Your first investment will likely be one territory, but make sure this new venture provides a possibility for long-term growth. Ask other franchisees how much they’ve grown. As well as the kind of support the franchisor has provided with scaling their businesses. Also, find out what the company is doing to enhance its services.
Benefits of an N-Hance Floor Refinishing Franchise
- Decades of experience. N-Hance operates under parent company BELFOR Franchise Group, one of the nation’s largest networks of restoration and home services brands with a successful history spanning more than 40 years.
- Advanced techniques. The N-Hance process is uniquely ours. Our method requires little sanding, which means no wood dust left around the client’s house. We don’t use solvents that leave lingering toxic fumes. Our Lightspeed® curing system uses ultraviolet light to instantly cure the finish, a process that takes up to a week for other companies.
- Training and support. We want you to start running your business as soon as possible. It begins with the Quick-Start Program, which guides you through your first year, including attendance at a nine-day, hands-on training course at our headquarters in Logan, Utah. N-Hance also provides franchisees with the online training platform N-Hance University, which includes hours of training material to help you and your new employees.
- Proven sales growth. The average sales volume of N-Hance’s top 25% of franchisees doubled between 2014 and 2020.
Get Started Today
It’s no secret the home improvement industry is booming and expected to continue growing. If you want to join the $450 billion industry by buying into a wood refinishing franchise, N-Hance could be the perfect opportunity for you. Start by requesting franchise information from the No. 1 Refinishing Company in the U.S. today.