Common Franchise Ownership Expenses & Meeting Bob Linda, Our Newest Franchise Owner!
If you’re clocking into a job you can’t stand each day, dreaming of a future where you build a business and financial freedom for yourself, the cost of doing so is probably one of the first things you consider. If you’re a certain type of person, this thought may also be the thing holding you back, but it doesn’t have to be. At Footprints Floors, our founder started the home improvement franchise with tens of thousands in credit card debt, but he pushed past this, accepted the expenses of pursuing his dream, and created the flooring franchise that dozens of Owners follow today.
So, what are the expenses you can expect with home improvement franchise ownership, and which can you plan to see every month? In this article, we’ll look at seven of the most common costs of running your own Footprints Floors flooring installation business, as well as meet one of our newest Franchise Owners to join the Footprints family: Robert Linda!
The 7 Most Common Footprints Floors
Initial Franchise Fees & Equipment to Get Started
As you start your own business, one of the first things you need to consider is the associated start-up cost. When you choose to become a Footprints Floors Franchise Owner, the first financial commitment you can expect to make involves your franchise fee and all the additional associated costs. This can fluctuate depending on the number of territories you’re choosing to start with or if you qualify for our veteran’s discount.
With Footprints Floors, our all-in investment starts at only $78,000!
This initial financial investment includes business/administration needs such as a laser measuring device, $200 in apparel credit to purchase your first uniforms, the initial marketing materials (including business cards), as well as proposal forms and estimate notepads to maintain a professional appearance with your customers.
Depending on the franchise, the initial equipment you need to hit the ground running will likely warrant the need for a new vehicle or a vehicle wrap, so you can easily advertise your business as you drive to and from client appointments. When you franchise with Footprints Floors, we encourage you to choose the vehicle that works best for you; we just require that it meet our standards and specifications, as well as be properly registered and insured as a commercial vehicle in the county and state of your territory.
Permits, Licenses & Certificates
Many states and counties have laws, rules, and regulations that govern how entities can conduct business, some of which may be specific to Franchised Businesses or businesses in the home services industry, like Footprints Floors. This often comes in the form of permits, licenses, and certificates that you have to obtain before you can legally begin providing your services to customers in your territory. These can include things like your standard business license and sales tax license, or something as particular to your Footprints Floors franchise as a contractor license or a home improvement license (only in select states), and will likely have an annual cost to keep your business current so you can continue operations.
Since these licenses can change depending on your state, city, and county, you’ll need to check with your local jurisdiction to determine what those are before you begin business operations. If you want assistance with this, you always have the option to consult with a legal advisor in this area to ensure you don’t overlook anything.
As with running any type of business in our modern, digital world, you will need reliable technology in order to manage your everyday tasks, and this can include everything from phones and computers to payment processing software. While you can mitigate some of these costs when you’re a solo owner-operator by using the technology you already own, you will need to invest in additional assets once you have employees that will need their own computers or cell phones. As you scale, you may also need to purchase additional licenses for the necessary software tools you use every day.
As a Footprints Floors Franchise Owner, you will be provided with the software necessary to get the job done, so you can trust you’ll have what you need and will know what costs to expect each month. This doesn’t include the purchase of additional computers, cell phones, or internet or phone bills, giving you the freedom to choose the provider or brand that you prefer most.
Initial & Regular Training
When you first join a franchise, one of your first introductions to becoming a franchisee will be your initial training. This will help you understand the ins and outs of the home improvement business so you can effectively run your territory when you get started. This essential expense will always prove worthwhile, but it should also be complemented by attending regular training courses your franchise might provide, or sending new employees to training as needed. Industries and businesses change all the time, so it’s important to keep yourself and your team up to date with the newest systems and processes your corporate team creates.
As with owning any kind of business, you will need to outsource certain professional services as you grow. While you may be able to act as your own accountant or write your own agreements when your revenue is in the tens of thousands, you’ll quickly find yourself paying for professionals to handle these tasks later on. This will not only help you free up your time so you can focus on building your home flooring business or providing the oversight your operations need from you, but it will also ensure that these critical tasks are being handled by an expert in the area.
Digital Marketing Efforts & Collateral
All successful businesses grow through effective marketing, whether that’s traditional print, digital marketing, or even through customer recommendations. Since the vast majority of marketing comes with some associated costs, whether it is monetary or time out of your day, it’s important to keep that in mind as you plan your expenses. When you become a Franchise Owner with Footprints Floors, much of the marketing is done for you, including hosting your website and designing all of your marketing collateral. By allocating a budget to our corporate support team each month for your marketing, you’ll have predictable marketing costs, letting you focus on building your business instead of catching up on bills.
Meet Our Newest Flooring Franchise Owner, Bob Linda!
Joining us from Fairfield, California, Robert (Bob) Linda made the decision to take a leap of faith and jump into the world of franchising. From first hearing about Footprints Floors through his franchise consultant, to flying out to Denver, Colorado, to get first-hand experience with the home services franchise, Bob’s experience meeting the team has laid a foundation for an exciting, well-supported new journey for him. As his first venture into business ownership, both he and our Founder and CEO, Bryan Park, are excited for him to dive in and can’t wait to see his persistence pay off!
Our newest Footprints Floors Franchise Owner, Robert Linda, joined the armed services directly out of high school with the intention of pursuing a career in the Air Force. However, one serious injury later, and Bob was forced to leave active duty. Rejoining the civilian job hunt, he found employment in the ammunition industry to be tricky to attain, so he instead went to work in a family business focusing on pest control sales. He soon discovered that he enjoyed and was adept at selling, but he was still looking to earn more. This is what led him to the world of franchising, and–ultimately–Footprints Floors home improvement franchise.
His Reaction to Footprints Floors
After being introduced to our home services franchise, Bob knew he was ready to join our family before he ever joined us in person for Approval Day. He was immediately intrigued by the ability it would grant him to work with subcontractors instead of employees and was pleasantly surprised by the lead generation assistance provided. While his initial concern was in getting enough opportunities to be truly successful, he was quickly relieved to hear that the entire marketing team and in-house call center would assist with lead generation, allowing him to focus more on the day-to-day aspects of the home flooring business.
Bob’s vision for his Footprints Floors franchise is to grow and expand to multiple territories over the years so he can hire a manager and sales specialist that grant him more time with his sons. Eventually, his ultimate goal is to build a lasting legacy not just for himself but his family that allows him to pass on the business he builds to his kids. When asked about the hopes and dreams Bob has for his business ownership journey, he provided insight into his motivation, saying:
“[Footprints Floors] lets me be a better father to my 3 little boys at home because I can spend more time with them, go to their sporting events, and coach them. My career goal [is] to retire early and leave behind something for my kids. FF gives me that opportunity.
“I want to teach my boys to follow their dreams and to make their own decisions in life, and don’t let fear and doubt win over courage and ambition.”
How His Existing Skills Will Help Him Thrive
Once Bob made the decision to jump into franchise ownership, he knew he wanted to stay in the home services industry, but in something more niche than pest control, painting, or cabinets. His years of experience in the home services space have helped him cultivate the skill set that makes him the perfect fit for this type of work.
When we asked him what struggles he had faced in previous years that he thought would help him be more successful in this new business ownership journey, he admitted:
“I struggled working at jobs where I had no power, no control, always working with someone else who made all the decisions. It’s hard for me to perform at my best in that environment. I’m at my best when I work alone, schedule my day with customers, and have control of my time. Another important aspect of me being a successful entrepreneur is my competitiveness, which motivates me to enjoy what I do and strive to be the best.”
If you’re ready to follow in Robert’s “footprints” and join the growing wave of people who are swapping their 9-5’s for complete control over their schedule and financial future, then freedom through Franchise Ownership with Footprints Floors may be the opportunity to help you get there! Download our free Franchise Report to learn more, then chat with our team to see if your preferred territory is still available.
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