A growing trend in franchise ownership is owning multiple business types. This approach, known as multi-unit franchising, allows entrepreneurs to benefit from multiple industries. Existing home services business owners can use their experience to their advantage. They can also create multiple revenue streams.
ShelfGenie has been providing custom home storage solutions for over 20 years. What's truly impressive is the diverse backgrounds of our franchise owners, who come from various walks of life. Some have a corporate background, while others are entrepreneurs who have owned or run a franchise or independent business.
By investing in a ShelfGenie franchise, you can diversify your business portfolio or start your business ownership journey. This opportunity is ideal for both seasoned investors and newcomers looking for a fresh venture.
Why Diversify Your Business with a ShelfGenie Franchise
If you haven't considered a home service franchise, you may be surprised. It's one of the most stable, growing industries. In 2023, U.S. franchises generated an economic output of approximately $859 billion, and experts expect it will continue to rise.
Home services business owners can also improve profits by diversifying. A complementary business like ShelfGenie can help. Here are just a few reasons why expanding your business with a ShelfGenie franchise is a smart move:
1. A High-Growth Market
By all measures, the home improvement and custom storage solutions market is booming. By 2027, the U.S. home services industry is expected to be worth over $600 billion. That's more than double its 2008 value.
Homeowners want to make the most of their living spaces with practical and stylish solutions, which is driving growth. This, in turn, has created a growing demand for high-quality, custom storage options.
If you want to tap into that growth, consider adding a ShelfGenie franchise to your existing home service business. As a leader in custom storage, ShelfGenie is well-positioned to capitalize on current and future trends. By doing so, you can build on a strong brand reputation and a loyal customer base.
2. A Complementary Brand That Can Increase Your Revenue Streams
For many business owners, a ShelfGenie franchise is a smart way to diversify. This is particularly true for those already in the home services industry. For instance, custom storage solutions complement existing businesses by providing a specialized product that enhances their core offerings.
If you run a handyman or cleaning business, you're already in clients' homes, making their lives more comfortable and functional. By adding a ShelfGenie franchise, you can offer custom storage solutions to enhance their space. You can bundle services, offer loyalty discounts, or create special combo packages. This adds value for your customers in an effort to boost repeat business and referrals.
3. Lower Cost of Entry and Flexible Business Operations
Adding a ShelfGenie franchise to an existing business is also surprisingly affordable. That’s because with ShelfGenie, you’ll have a relatively low upfront investment, little fixed overhead, and a quick start-up. Recurring and variable costs also tend to be on the lower end, and there are many opportunities to finance your investment. Together, this makes ShelfGenie one of the more accessible options for business owners.
In terms of flexibility, a ShelfGenie franchise has a lot to offer. This franchise comes with a flexible business model that can be adapted to suit your lifestyle and financial goals. With ShelfGenie, there’s no need for a storefront. This minimizes your costs. That makes it an ideal home-based business for budget-conscious entrepreneurs. Plus, the flexibility allows you to scale your business at your own pace, focusing on growth and expansion when you’re ready.
4. Leverage a Trusted Brand with National Recognition
One of the biggest challenges that new businesses often face is building brand recognition. In fact, building brand recognition from scratch requires substantial time, money, and effort. You’ve already invested a lot into establishing your current home service business and earning your customers' trust. So, the thought of starting that process all over again can be a deterrent.
In contrast, as a ShelfGenie franchise owner, you can minimize many brand-building challenges. That’s because ShelfGenie is already a nationally recognized name in custom storage solutions. This established reputation provides your new business with instant credibility, making it significantly easier for you to attract clients in a new market segment. It’s easy to see how aligning with a trusted brand leads to faster growth and a more secure investment.
5. Expand Your Network and Business Knowledge
Joining the ShelfGenie franchise means joining a network of like-minded entrepreneurs. They share similar goals and challenges. As a business owner in the home services industry, you know the complexities the industry presents. You know the potential difficulties it can bring.
Imagine a business with thorough training and a network of pros. What an advantage that would be! As part of a franchise network, you'll have access to ongoing training and development opportunities. You can also learn from successful franchisees that have already added home services to their business portfolio. You might find new ways to cross-sell, boost customer retention, or simplify operations. This could make your life easier and your business more profitable.
Learn More with Our ShelfGenie Franchise Guide
We’ve only just touched on the benefits that come with owning a ShelfGenie franchise. As a Neighborly® brand, you can take advantage of marketing and operational support, valuable discounts and rebates, and a network of other owners that you can connect with.
Download the ShelfGenie Franchise Guide to learn more about the benefits of owning a ShelfGenie franchise!
