Home services franchises are that that focus on home improvements, repair, and care. Without the need to rely on tangible goods, home services franchisors are well-positioned to not only weather an economic downturn, but come out on top.
An advantage of the home services industry is its necessity. With the essential nature of many home services, these businesses don’t find themselves as beholden to the state of the economy as some of their peers.
Home services franchises are not immune to marketplace fluctuations. The success depends on the demand for their services.
Businesses using recurring revenue can rely on consistent monthly billing cycles to help keep things afloat.
That’s not to say companies using recurring billing don’t feel the pinch during a recession. Regular monthly income often means they have budgets and plans in place to tough things out.
Home services were vital to people’s lives before, their necessity has only grown in 2020. No one is sure what things will look like when the country returns to the “new normal.”
Even so, the ongoing need for home services is something that will remain a constant. Home services are an investment that will make sense both today and tomorrow.
