So this could be anything for home services, so kitchen and bath repair could be a real estate property management, landscaping, business services, which also encompasses landscaping, insurance, and tax preparation. As these service franchises or the service industry as a whole, you generally have a customer that is paying you daily, weekly, monthly, and it’s your job to service that customer and make sure that they’re satisfied, and you grow the book slowly. So there are ways to hack it, where you could buy an existing book of clients.
Whether that be real estate property management, where you would buy, you know, 20, 30 vacation rentals, contracts and manage those vacation rentals. Or it could be in commercial cleaning, where you’re buying contracts to clean different properties, or it could be even in the hospitality space. And you genuinely will have pretty sticky contracts, as long as you provide a good service to those generally businessmen, businesswomen, if it is a business that caters more to businesses, or to the individual, whether it be a barbershop or vacation rentals to the customer.
So, attractive things with a service business are genuine, you don’t have that high of rent, you could start the business from a very small office, even some businesses you could start from your home. So, that will bring down the upfront costs, as well as the ongoing costs compared to like a food and beverage business. You don’t have to worry about major equipment that you would have to worry about in the food space. Generally, permitting is also a lot easier for service-based franchises. And it’s a very wide-open industry where, you know, even education could be considered a service that you’re providing to kids and adolescents, for example.