Franchise Owner Skills, Job Description, and Salary
Investing tens of thousands of dollars in a business is a big risk no matter how good the deal is. In order to lessen that risk, many first-time entrepreneurs choose to buy a franchise with a well-known company, rather than starting a business from scratch.
What Skills Do I Need to Own a Franchise?
Sometimes new business owners worry that their lack of knowledge and/or skills will directly impact how successful they are. That is less of a problem if you buy into a franchise. In fact, it is common for people to buy franchises in industries they are unfamiliar with.
As a franchisee with a trusted brand, the parent company will make sure you’re fully trained in everything you need to know, not only in their proven business model, but also in how to create the products or perform the services you offer. They offer support every step of the way; someone’s always on hand to answer questions or trouble-shoot problems. Because they’re invested in the success of the overall company, they should do everything they can to help your franchise succeed.
While you often don’t need any advanced knowledge or specific skills, it does help if you come into this with the right personality. Successful franchisees are strong leaders who don’t have a problem managing people. They are good communicators — both with their employees and the franchise representatives. They aren’t afraid of hard work or putting in the hours, even on weekends and holidays. They are team players who can follow a plan without deviating from details they don’t agree with.
A Day in The Life of a Franchise Owner
Hundreds of different industries offer franchises for sale, and within each industry are multiple businesses available to franchise. There are 24-hour fast-food restaurants that need someone on site at all times. There are home services businesses that you run out of your home, allowing you to set your own hours. There are absentee franchises that you can hire someone else to run so you can still keep your day job. You can see there is no one typical day for a franchisee. It behooves potential franchisees to look closely at the requirements in the particular industry they’re interested in. Talk to existing franchises who are doing what you want to do. They will be able to give you the most accurate picture of what your days will look like as a franchisee, because they’re already living that life.
How Much Money Can I Earn as a Franchise Owner?
How much you can potentially earn varies widely as so many different factors need to be taken into account. What kind of industry is it? How well-known is the brand? What part of the country is it in? How much competition do you have? Are we in a downward economy where people don’t have money to spend on the goods or services you are selling?
To give you some ballpark numbers, according to Glass Door, in 2021 franchise owners earned an average of $110,757. Since that’s an average, some franchisees made more and some made much less. So, that’s no guarantee of what you would make. And, you should take into consideration that with any business, some years are very profitable while others are very lean.
Plus, if you borrowed money to buy the franchise, you won’t truly start earning profits until the loan is paid off.
Set Yourself Up for Success by Starting with the Right Franchise
As a home restoration franchise, AdvantaClean is one on the most trusted names in the industry. If you franchise with us, you not only get the advantage of our 25 years in business, you get the backing of our parent company, Home Franchise Concepts. We’ve been ranked as a fastest-growing small business by Entrepreneur Magazine and a best low-cost franchise by Franchise Business Review.
AdvantaClean franchise owners have eight different categories of services to offer customers: mold removal, moisture control, water damage restoration, fire damage clean-up and restoration, air duct and dryer vent cleaning, radon testing and mitigation, sanitization, and aid after natural disasters. Think of each of these categories as a distinct revenue stream that could potentially increase how profitable your business becomes.
Get Started with AdvantaClean Today
If this sounds like an opportunity you want to be a part of, contact us today. We’ll explain in more detail what it takes to be an AdvantaClean franchisee, so you can see if it’s the right fit for you.