There are numerous reasons for the boom—older adults are migrating south for their retirement years, people are moving closer to their families, and others are heading from the cities to the suburbs. But one of the biggest drivers is the ability of many to work from home as a result of the pandemic. Homeowners want more space to accommodate their new remote lifestyle, and because they’re no longer confined to an office, they can often live anywhere in the country.
To keep up with the demand, entrepreneurs with real estate-related experience are in high demand by franchisors, offering prospective business owners the chance to take advantage of a thriving industry. But it isn’t just realtors who have a profitable opportunity in front of them, home inspectors, home staging, and property management just to name a few, are businesses that work with realtors to help them complete their real estate transactions.
Home-based franchises that fit every interest
Buying and selling a home requires a full team of professionals beyond the realtor facilitating the transaction. There are numerous ways to get your foot in the door of the real estate market depending on your background and transferable skills. Some of the franchise segments in the industry include:
- Home inspections – Ninety percent of home sales require a home inspection before the final paperwork is signed. With the real estate market moving at lightning speed, companies are struggling to keep up. If you’re a licensed home inspector, investing in a home inspection franchise ensures you have a steady flow of work, especially in high-demand regions.
- Home staging – Homes that are professionally staged spend up to 50 percent less time on the market, making the service a smart move for realtors and sellers. Those entrepreneurs with an eye for design and a pulse for the latest home interior trends can play a critical role in the home selling process.
- Property management – Fifty-three percent of households belong to Homeowner Associations. In addition, many communities—especially those that appeal to seniors and retirees—use property management services to assist with repairs, landscaping, and the oversight of guidelines. Real estate property management franchisees serve as a third-party resource to assist neighborhoods in maintaining upkeep and security.
- Home improvement and remodeling – Few existing homes meet their new homeowner’s design sensibility and lifestyle needs. In fact, studies show spending on remodeling is set to increase by nine percent in 2022. By investing in a home improvement franchise, you benefit from a trusted brand clients recognize and a solid framework that lets you put your contracting skills to work for your clients.
- 3D interactive tours – More buyers are scoping out prospective homes online, and the more information they’re provided, the more likely they are to schedule a visit with a realtor. Entrepreneurs with design and marketing skills can help agents promote their listings with ready-made home tour franchises.
- Estate Sales – this industry is growing largely due to the increase in the number of Baby Boomers, many of whom have lost one or both parents or are in need of downsizing their possessions.
Home-based businesses that can operate as a full-time or part-time business.
There’s no better time than now to invest in a franchise business. With a growing number of diverse franchise options that fit your interests, and the ability to work from home, now is the ideal time for today’s entrepreneurs. Even better, many of these businesses can be started with a minimal investment (often less than $50,000!) and launched as a part-time business. So, you can kick off your new venture in your spare time and eventually shift it to a full-time business as your company grows.
For more information on home-based franchises and to find your perfect fit go to info@franselect.com or call 636-530-6925 to schedule a free consultation with a franchise advisor.
