Timing is a critical factor in any business decision. If you’ve been thinking about becoming a franchise owner, you may have wondered when the right time would be. At Honest Abe Roofing, well to quote Abraham Lincoln, “Leave nothing for tomorrow which can be done today”.
With that in mind, here are four reasons why now is the perfect time.
Low Rents
One of the most important elements of a brick-and-mortar business is the location itself. There are times when getting a great location at a reasonable price is next to impossible. Right now, though, it’s exactly the opposite. There’s an abundance of prime commercial locations available at low rental prices.
If you get into the market now as a franchise owner, you can take advantage of those low rents when opening your business.
Less Competition
The unfortunate reality is that the effects of the pandemic forced a lot of businesses to close. The upside is that there’s significantly less competition now than there was two years ago.
If you’re able to get into the market soon by opening a franchise, you can take advantage of the reduced competition. This will mean there should be plenty of customers ready to patronize your new business and you’ll save on advertising costs, too.
Financial Aid
Any assistance with financing your new franchise can go a long way toward making the business work. Now there are more opportunities than ever for financial assistance for small businesses. You can take advantage of loans that are guaranteed by the U.S. Small Business Association, funding available in the CARES acts, and other pandemic recovery programs.
Also on the financial side of things is that interest rates are extremely low right now. If you’re planning on taking out a loan to finance your franchise, lower interest rates can save you thousands or even tens of thousands of dollars over the long haul. Don’t wait too long, though, because those interest rates won’t stay low forever.
Securing Your Future
If there’s one thing this last year has taught everyone, it’s that even a job with seemingly great job security is never all that secure. The only way to truly put your fate in your own hands is to own your own business.
You have an opportunity right now to invest in yourself and secure your future. When you own a franchise, you’re responsible for the outcome, which is both scary and exciting. You won’t have to go it alone, though. The franchisor will be there to provide support and guidance when you need it most. You’ll benefit from the tried-and-true methods the franchise has built up over the years.
Take The Plunge
These are just some of the reasons why there’s no better time than the present to become a franchise owner, especially in the recession pROOF home services industry. If you are interested in learning more details or having a no-obligation discussion, please use the form below.