Investing in a cleaning business franchise could be one of the best moves you ever make. But before you make such a big decision, it's important to find out all of the franchise information you can. Below, we have provided a summary of unbiased franchise information provided by the Federal Trade Commission's Bureau of Consumer Protection.
A franchise enables you, the investor or franchisee, to operate a business. You pay a franchise fee and you get a format or system developed by the company (franchisor), the right to use the franchisor's name, and assistance. For example, the franchisor may provide you with help in finding a location for your outlet; initial training and an operating manual; and advice on management, marketing, or personnel. The franchisor may provide support through periodic newsletters, a toll-free telephone number, a website, or scheduled workshops or seminars.
Buying a franchise reduces your investment risk by enabling you to associate with an established company.
Before you invest in a particular franchise system, such as a cleaning business franchise, think about how much money you have to invest, your abilities, and your goals. Be honest.Your Investment
- How much money do you have to invest?
- Are you purchasing the franchise alone or with partners?
- Do you need financing? Where's it coming from?
- What's your credit rating? Credit score?
- Do you have savings or additional income to live on while you start your business?
- Does the franchise require technical experience or special training or education?
- What special skill set can you bring to a business, and, specifically, to this business?
- What experience do you have as a business owner or manager?
Write down your reasons for buying a particular franchise:
- Do you need a specific annual income?
- Are you interested in pursuing a particular field?
- Are you interested in performing a service?
- How many hours can you work? How many are you willing to work?
- Do you intend to operate the business yourself or hire a manager?
- Will franchise ownership be your primary source of income or a supplement to your current income?
- Do you get bored easily? Are you in this for the long-term?
- Would you like to own several outlets?
Purchasing a franchise is like any other investment: it comes with risk. When you think about a particular franchise, think about the demand for the products or services it offers, competitors that offer similar products or services, the franchisor's background, and the level of support you will receive.
Is there a demand for the franchisor's products or services in your community? Is it seasonal or ever- green? Does the product or service generate repeat business?
What's the level of competition - nationally, regionally, and locally? How many franchised and company-owned outlets are in your area? How many competing companies sell similar products or services? Are they well-established or widely recognized by name in your community? Do they offer a similar product at a similar price?
Buying a franchise gives you the right to associate with the company's name or brand. The more widely recognized the name, the more likely it is to draw in customers.
- name and brand recognition for the company and its product or service
- whether the company has a registered trademark
- how long the franchisor has been in business
- whether the company's reputation is for quality products or services
- whether consumers have filed complaints against the franchise with the Better Business Bureau or a local consumer protection agency
Training and Support Services
What training and continuing support does the franchisor provide? Does the franchisor's training measure up to the training for workers in the particular industry? Can you compete with others who have more formal training? What backgrounds do the current franchise owners have? Is your education, experience, or training similar?
This is just some of the franchise information available. Do your homework. But if you're motivated and ready to get into business for yourself, a cleaning business franchise with MULTICORP could be a perfect fit. Check out our Franchise Investment Opportunities and other Franchise pages for more information on purchasing a MULTICORP commercial cleaning franchise.