|
Q: How much does a franchise cost?
A: Between $20,000 and $100,000 depending on the size and building permit activity of the territory.
Q: What's the suggested liquid capital for operations?
A: $35,000-$75,000 depending on how many employees you want to start out with and how much local advertising, marketing and promotion you want to do to kick-start your business.
Q: What is the typical additional expected setup expenses amount?
A: Between $4,000 and $10,000
Q: How much training does a new Franchise receive?
A: 3-5 days in our corporate office and 40 hours field training by a HomeWorx representative.
Q: Do I have to have a background in construction?
A: No, but it is recommended for a faster launch of your business. However, we have seen the opposite in some areas. Some franchises with very little to no construction background have done great.
Q: How is the territory determined?
A: Each HomeWorx franchise has an exclusive territory defined by zip codes. The main factor in determining boundaries is the associated building permit data in the area. Some areas are relatively large compared to others, yet the permit data could be the same.
Q: Do I need an office?
A: You are not required to go out and procure a lease for office space. Some franchisees run their business from a home office. However, you will need dedicated phone lines and fax lines to your business. If you do not already have an office from which to operate your business, we highly recommend getting a local “virtual office” space.
Q: How many employees do I need?
A: Ideally 3 to start off. You’ll need an office manager, warranty manager, and sales person.
Q: Can I be an offsite owner?
A: Yes, however, you need to have a full-time, onsite business manager that has attended training courses and become certified by HomeWorx corporate to run your business. There is also a minimum requirement (ie. 20 hours) of time that an owner must be present within the franchise territory per month or helping the franchise office with sales, accounting, promotions, etc.
Q: How much support does the corporate office provide me?
A: One thing with which we pride ourselves at HomeWorx is the great support we provide our franchisees. We have teams of individuals dedicated to the support of our franchises. Each franchisee has a dedicated account manager as well as the support of our full call center staff to handle their respective client’s needs.
Q: What are the critical success factors for HomeWorx franchisees?
A: The short answer is not unlike many business endeavors, you are going to get out what you put in! Any of our franchisees who have been fully dedicated to making this business work have experienced tremendous success. Those who opened their stores and sort of hoped the business would fall in their lap have struggled. A few other factors are as follows:
- Well Capitalized: Many small businesses never get off the ground because they don’t have the money to spend on sufficient marketing and sales efforts
- Previous Business Experience: Previous building experience is not required, but business experience is. Specifically prior experience running your own business.
- Ambitious / High Motivation: Once again, our franchisees who have really gone out there and worked it have done exceptionally well.
- 100% Focus on Sales: The contracts won’t fall in your lap. Builders want and need these services, but you have to be focused on getting in front of them.
Q: I see new home construction all around my area. Would that be a good indicator that HomeWorx™ would be successful in my area?
A: That is the best indicator of potential success. By servicing as few as 100 new homes annually, you can build a very rewarding business. Therefore, if there are current building and future plans for more development in your area, this business would most likely thrive in that market.
* The information on this website does not constitute an offer or sale of a franchise.
|
