Home service franchises in CT can be a wonderful opportunity to get into your own business. However, the problem with many startups isn’t the business itself. It’s how it’s run.
Our franchised business is in the pest control industry. There is tremendous demand for the services we offer, but there is also a lot of competition. What has made our pest control business profitable where others have failed? The answer may surprise you because its so simple. Yet many entrepreneurs in “simple” businesses make the same error again and again. Here they are in no particular order.
Charge enough for your services and collect the money
This may seem like a given, but it’s not. Many eager entrepreneurs become so involved in their businesses that they forget that the life blood of their business is cash. Once you have mastered your craft whether its pest control, painting, mowing lawns or anything else you have to charge enough for the time you’re putting in and then you must collect it. I’ve talked to busy contractors who have no money. Not because they didn’t have the work, but because they didn’t charge enough for the projects they started and when they did their accounts receivables were outrageous. The longer an account goes uncollected the less likely you’ll collect it. If you don’t do these two things from the start you’re doomed.
Don’t reinvent the wheel
What do Bill Gates, Jeff Bezos and Ellon Musk have in common (forget about wealth) ? They were first and essentially invented the wheel in their respective fields. The vast majority of us will not invent the wheel, but that doesn’t mean you won’t be successful. The vast majority of home service franchises in CT are doing just fine being boring, but needed businesses. Which leads us to our last, but most important topic
Have systems in place
When your business is systemized there is a “system” of how to do everything, its documented and its universal throughout the company. This one fact is a reason why franchises have a better shot at success than a person starting from scratch. The franchisor can teach you systems that work. This won’t guarantee your success, but it sure does make getting there easier.
Before we go
Businesses fail everyday, but home service businesses have a better chance at survival. The reason is that many are low overhead, in demand since people are spending more time at home and there can be low barriers to entry. A home service business in CT may be for you. Find something that interests you and the money will follow.
If you’re interested in the home service industry a career in pest management may be for you. Please call 1-888-879-6481. We’d love to speak with you.