- Fantastic Team
- 5min read
- Published: February 23, 2021
- Views: 49
Multi-service franchise vs single-service franchise
Are you looking for a new business opportunity in times of pandemic? Or perhaps you were planning to start a business back in 2019, but then Covid-19 happened, and you are currently on a stand-by.
We know the feeling of anxiousness that might be stealing your positive vibe. You keep asking yourself:
Will there be enough demand for my business?
The short answer is ‘Yes’. Read further down for the long answer.
When you become a franchisee, your franchisor helps you reach your goals with the right tools and know-how, so you don’t have to worry about demand not being enough.
Sounds easy, right? But how do you decide which franchise company is the right one for you?
One thing to look at is whether a potential franchisor offers a single or a multi-service franchise model.
A single service franchise allows you to operate as a franchisee offering just one service, like cleaning, for example. In comparison, a multi-service franchise gives you the freedom to choose between multiple services and continue to add on more as you’re getting better at managing your business.
Most franchisors offer a single service franchise model, which unfortunately doesn’t allow you to make the best of your business.
Keep reading to find out why a multi-service franchise is the better option for you.
Consumers prefer one-stop-shops
We live in a busy world. People do not want to spend hours on Google looking for a series of services from different providers, then to coordinate different requirements with them… Ugh!
Did you get exhausted already?
The consumer of the 21st century prefers a one-stop-shop as opposed to dealing with multiple businesses; after all, isn’t this the reason why shopping malls and large department stores exist?
When you are in the domestic cleaning industry, why limit yourself to just residential or office cleaning? Perhaps your clients need gardening also? Or even pest control? Offering multiple services and cross-selling them will lower your business costs and make you the preferred business owner by your potential customers.
Don’t put all your eggs in one basket
Start diversifying. Since the dawn of economics, this has always been a #1 rule for business owners all over the world. It helps you lower the risks and become more adaptable to change.
In times of financial instability, which is every few years, offering various services to your customers, can help you keep afloat. If you choose a single-service franchise model, the next time a financial crisis hits, there’s a good chance your business won’t survive.
Not to mention all the other potential problems with running a business, like seasonality. A multi-service franchise model makes your business immune to occasional drops and ensures a stable cash flow all year round.
With Fantastic Services as your franchisor, you may choose between cleaning, pest control, waste removal, gardening services – you name it!
You have unlimited growth potential
“I want to stay this way forever” – said no business owner ever.
Many business owners may not realise that a single service franchise limits their growth potential. You can only clean so many houses or offices in your location, right?
If you are planning on starting a franchise business, chances are you are planning to grow quickly and fast.
When you implement the multi-service business model, you have the chance to include more and more services to your portfolio and potentially generate higher income.
Higher revenue means unlimited growth potential for your business, and with our fantastic support, becoming a leader in your industry is not the challenging task you think it is.
Fantastic Services has invested over £20 million in building disruptive technology with the aim to improve our work process and unlock your growth potential even more.
Be resilient to recessions, pandemics, and all the chaos that comes with them
The demand for domestic cleaning services in the UK has been steadily increasing between 2013 and 2020, with a whopping 28% growth in revenues. Although it has taken a plunge during corona times, the industry is back on the rise again.
Yet, even in an industry such as domestic cleaning services, where demand has remained stable despite the rude awakening of 2020, it is worth considering minimising your risk by offering more than just a single service.
As much as you want the demand for your business to always be growing, there will be deviations. You may experience a decline in your landscaping jobs but get more calls with plumbing requests because the industry’s on the rise. This is a great example of how the multi-service approach will help you save the day and your business.
It is vital to be flexible in uncertain times, and having a trustworthy partner such as Fantastic Services will help you adapt to change.
Knowing how to spread your risk by implementing the multi-service franchise model under the umbrella of a larger and more experienced company like Fantastic Services is your ticket to a booming business.
Choose an experienced multi-service provider such as Fantastic Services.
We’re always on the lookout for great people to work with.
If you want to discuss the opportunities in your area, fill out this form to get in touch and learn more about our flexible franchise opportunities.
Posted in Industry Insights
Fantastic Services manages 25+ professional home cleaning and maintenance services, provided within the UK, Australia and the USA. With 10+ years of experience behind our back, and 400+ of successful franchises, we continuously set the bar higher with our cutting edge technology implementation and marketing approach. Explore our business opportunities on the main website!