Some people see being an entrepreneur as facing down the world all on their own. Others find a little help beneficial, and this is why more folks are opting for the franchise family business model.
Of course, not every industry or franchise is ideal for families who want to grow their brand together. Some businesses really are better suited for those who want to go it alone.
At WIN Home Inspection, though, the model is highly flexible, and you can have it either way.
A number of our franchise owners (who we call our Strategic Partners) act as “solopreneurs,” but many others make it a family involvement. If you choose to enter the world of home inspections through a franchise family business, here’s a few things you should know to make your choice easier.
Why WIN Is Well-suited as a Franchise Family Business?
There are a variety of reasons that families should consider a WIN Home Inspection franchise, but the most important may just be your chance at success. Those who join our organization become part of a business with a proven track record of achievement.
In fact, Entrepreneur Magazine has repeatedly ranked WIN on its list of the Top 500 Franchises. Our company actually jumped 232 positions on the list in just two years. Additionally, the average gross revenue from established WIN franchises stands at $219,300. This is over six times what some of our Strategic Partners pay to get started.
When you’re opening a family franchise business, you’re not just looking to ‘dip your toes’ into entrepreneurship to see if you can succeed. You’re trying to build a family legacy, and this means you need a company that’s been nationally recognized and has proven itself time and again. This is exactly what you’ll find at WIN Home Inspection.
In addition to a proven track record, you’ll find an interconnected community packed with mentors at WIN. Collegial and collaborative relationships are encouraged among our Strategic Partners. This is because each of our franchisees understand that all boats are lifted by the rising tide. This makes it easy to find support and mentoring relationships.
Why is this important for family franchise businesses? It’s because half of companies never make it past the five-year mark. Of those who have mentors, though, 70 percent surpass this goal. You and your family will bring a variety of different experiences to the table, but nothing can replace guidance from someone who’s already found success within the company and industry.
What stands out to most of those interested in family franchise businesses, however, is the ease in which you can cover the franchise fee. It’s already one of the lowest you’ll find, but WIN Home Inspection can also finance up to 50 percent of this cost. Additionally, we have relationships with third-party funding sources that can help with other startup costs you may encounter.
This funding flexibility is essential for families who want to start building their brand right away. When you combine this with the marketing tools, personalized in-depth training, buying power and ability to hit the ground running provided by WIN Home Inspections, it’s easy to understand why we’re the best option for family franchise businesses.
Real Stories of Franchise Family Businesses
It’s one thing to say that a company is great for those hoping to start a franchise family business. Proving this claim, however, is something different altogether. That’s why we reached out to some of our Strategic Partners who invested in this opportunity with the intent of building a family brand.
The Greens in Indiana
Jamie Green runs a WIN Home Inspection franchise in Crown Point, IN. His wife Amy assists with the administrative duties of running their business. He loves the relationships fostered with both the company and other franchisees, and he even make a point of saying, “One of the great things about WIN is how supportive everyone is of one another.”
Every Strategic Partner loves this about WIN, but Jamie went even further to explain why this was the right option for a franchise family business: “WIN has given me an unexpected new career that supports what’s important to me — family, meaningful work and a chance to build a business that really provides an important, needed service.”
To Jamie, spending time with his wife and twins, Jimmy and Jillian, was a prime motivator in his business decision. WIN Home Inspection provides the opportunity to set your own schedule and have more time for what’s important. For some, this is the most essential thing a franchise can offer.
The Millers and Taylors in Pennsylvania
Kevin Miller, his wife Dana Taylor-Miller and his brother-in-law Matt Taylor run two WIN franchises in Pennsylvania. Kevin loves how their experiences translated directly to the home inspection industry: “Combining the skills and experience that we both have, and using this knowledge to further ourselves while giving us more flexibility, is a great plan for us.”
The group also says the support, marketing, cost and flexibility were big factors in their decision. Additionally, they’re one of the many Strategic Partners that took advantage of the in-house financing provided by WIN. Kevin said, “We found that doing it this way enabled us more flexibility in financing fees and costs associated with financing and for maintaining our typical lifestyle.”
Maintaining an accustomed lifestyle is a big issue for those who want to have franchise family businesses. It’s one thing for a solopreneur with no family to go ‘all-in’ and live off Ramen Noodles to become a success, but those with spouses and children don’t typically have this option. WIN Home Inspections takes that into account, and this means you can build a brand without sacrificing your family.
Benefits of Home Inspection Industry
Everything provided by WIN Home Inspection is geared towards helping make your family franchise business a success. Every bit of entrepreneurial savvy and assistance in the world, however, is unlikely to help if your industry isn’t thriving. Fortunately, you likely will never have to worry about this issue.
The Bureau of Labor Statistics projected an expansion of 10 percent in the home inspection industry between 2016 and 2016. For those who don’t keep track of these numbers, this is a huge deal. In fact, it’s higher than the average projected growth across all industries. Why is the industry growing? Well, because everyone needs it.
While some may see a home inspection as nonessential, this is far from being true. A full 90 percent of surveyed American homeowners said this process was a necessity rather than a luxury. This bodes very well for your franchise family business – especially when you’re working within the focused home inspection territories that set WIN apart.
You’ll also find great networking opportunities by working with buyers, sellers, insurance agents, financial institutions and real estate agents. The marketing foundation provided by WIN will certainly help, but since 92 percent of consumers trust recommendations and word of mouth over other forms of advertising, these connections within your community can prove priceless.
Start Your Franchise Family Business Today!
WIN Home Inspection is part of a growing industry that shows no sign of slowing. When you combine this reality with the countless benefits available to WIN Strategic Partners, there’s little doubt that this investment is right for solopreneurs, families or new business partners.
If you’re interested in starting your own franchise and for more information, please call (800) 967-8127 or email us at firstname.lastname@example.org and one of our experts will contact you promptly.