Franchise Spotlight: Building Services
Niche building services can offer high-profit potential, a growing client base and low overheads.
There is a real mixed bag of opportunity in the building service sector; assess each franchise and consider the market statistics and forecasts in each sector.
There are approximately 13 million building footprints in Canada, which we now know thanks to the release of openly licensed databases by Statistics Canada and Microsoft in 2019. All these buildings need maintenance to keep residents safe and to pass safety inspection checks.
Franchise industry analysis
Building maintenance can cover a range of expertise, including pest control, which saw an average industry growth of more than 4% over the five years to 2020. An increased influx in bed bug incidents combined with growing commercial demand has underpinned the strong revenue growth experienced by Canada’s pest control industry.
Climate change has brought more extreme weather patterns; harsher winters can cause an increased usage of log burners, benefitting the chimney sweep industry, which is another building maintenance franchise sector with growth potential.
If you’re searching for a home improvement franchise with high-profit potential and low overheads, consider owning a painting and decorating franchise. On average, businesses in this sector earn more than 91% profitability and CA$224,000 in revenue. Earning potential and client growth is vital, but you should take time to weigh up each potential franchise opportunity’s pros and cons.
Red E Bins is a waste disposal business opportunity, benefitting from a growing CA$81 billion a year industry, offering a relatively low-cost entry into franchising, with options starting from CA65,000. This dumpster hauling service provides all the necessary equipment and machinery just eight weeks after a paid deposit fee.
A boulder sign design franchise is a building service franchise you may not have considered before; this niche business offers you the option to be storefront or home-based, and hardly any competition. Boulder Designs is a signage franchise that assists with all aspects of running a business, from set up and operations to training and administration; this award-winning network also boasts protected territories, preventing over-saturated markets.