Franchise opportunities always require an investment, but the amount of that investment can vary widely. There are franchise businesses requiring just a few hundred dollars to start — and others requiring a significant investment.
Sometimes you get what you pay for.
When you invest a large amount in a franchise, you expect a high level of professionalism and experience to produce results. One of the highest investment amounts in our franchise opportunity directory is easyhome, a rent-to-own franchise. When you’re looking at a franchise like easyhome that requires a significant investment amount, you should look at what services you’re getting for your more substantial investment and if you feel it will provide a sufficient return on your money. The return on your investment. (ROI) is the money you earn with your franchise above earning back your investment amount — but you should also consider the value of the tools with which you’re expected to make that money.
easyhome franchisees can expect a high level of professionalism and experience from the franchise team. Bud Gates, the leader of easyhome in the United States, was a key leader in another rent-to-own business for many years but decided to split off and use his expertise to help others run their own rent-to-own businesses. Originally from Canada, easyhome has started to expand into the U.S. market and is opening locations across the country under Bud Gates’s team. The experience and leadership Gates has developed throughout his career provide franchisees with the benefits of experience when they have none of their own. Many franchisees have never operated a rent-to-own location before — and many others have been in the business for years but turned to easyhome because of their reputation for excellence.
In addition to good resources, easyhome provides franchisees with a 4-week training program led by Gates. During the training, franchises receive training on five areas that easyhome sees as the key to success:
- hiring and managing associates
- store operations
- product knowledge
- sales training.
Once the franchise opens, franchisor staff will be on hand for the first week of operation to ensure things run smoothly.
On top of expert assistance and training, easyhome retail locations use revolutionary merchandising layouts that attract customers to sign on to rental agreements. The store focuses on customer touch points, allowing customers to test out potential rentals in the stores instead of keeping electronics locked away in cases. easyhome is catering to customers who wouldn’t normally be able to purchase these items, and customers may feel unwelcome in a store where the items they’re interested in are locked up. It’s also difficult to judge the quality of an item such as furniture or a television if it’s not available to test. By offering up these items for customers to try out, easyhome stores help customers feel more comfortable and more willing to sign a rental agreement.
When deciding whether a specific franchise opportunity is worth the investment, be sure to run the numbers: how much will you be able to sell, how much of your revenue will be profit, how long will it take you to recoup your investment, and what can expect after your break-even point? Often, a small investment results in a small return, while a larger investment can pay off handsomely.