How Footprints Floor’s Model Fights Off Inflation!
These days, it’s common to hear people talk about inflation. As prices rise, concerns continue to grow among consumers and business owners alike. The inflation rate has continued to worsen throughout the first half of 2022. In May, the Bureau of Labor Statistics reported that the inflation rate was 8.6 percent — the highest since 1981.
According to an article written by Drew DeSilver for Pew Research Center, “Inflation in the United States was relatively low for so long that, for entire generations of Americans, rapid price hikes may have seemed like a relic of the distant past. Between the start of 1991 and the end of 2019, year-over-year inflation averaged about 2.3% a month and exceeded 5.0% only four times.” This article, published in June 2022, goes on to state that inflation — or, as DeSilver puts it, “inflationary whiplash” — is happening not only in the United States but also in other countries throughout the world.
A related article published by Pew Research Center in May 2022 states that “seven in ten Americans view inflation as a huge problem for the country.” Clearly, Americans are feeling the pressure at the pump, in their local grocery stores, and elsewhere. In times like these, inflation can be a severe source of stress for individuals, families, and business owners.
Here at Footprints Floors, we are fortunate to share that our franchise business model protects customers from the high costs and shortages commonly associated with inflation. Many homeowners who are interested in having flooring installed or having their current flooring restored/refinished continue to turn to us to help them get the job done — without breaking the bank.
Every home is unique, and we are always glad to help our customers find the type of flooring that appeals most to them. Our professional contractors install tile, hardwood, and carpet, just to name a few. Our contractors are also experts at refinishing and restoring floors, especially wooden floors that have been scratched and are not nearly as smooth as they once were.
One thing’s for sure: the pandemic forced us all to spend a lot more time in our homes than perhaps we were used to. Homeowners across the country began to notice imperfections in and around their homes, including those related to their flooring. Hence, many home repairs and/or remodeling projects commenced, and even during inflation, that momentum hasn’t stopped. This is excellent news for our Franchise Owners around the country!
Since Footprints Floors came into existence (and expanded into a successful faith-based, Christian franchise), we have remained committed to giving our customers the best flooring installation possible and offering them industry-low pricing. Our business model puts customers in the driver’s seat by allowing them to select and purchase their own flooring materials. We’re glad to discuss the pros and cons of each flooring type with them through an in-person or virtual meeting, during which we give them an estimate for our affordable floor installation service and then provide them with all the measurements they need before they head to their chosen supplier.
Because customers are responsible for purchasing the flooring materials, we can pass significant savings on to them. We eliminate the need for operating showrooms and stocking inventory — thus, those overhead costs don’t exist at Footprints Floors, and we can give customers the best deals possible when it’s time to schedule their installation. On average, our proven business model saves customers approximately 20% of installation fees. That’s a considerable amount of savings, especially during this period of inflation.
Two additional benefits of customers purchasing their own materials? One: they’ll have lots of freedom of choice at their chosen supplier, and two: they don’t have to worry about buying too much or too little. We’ll tell them exactly how much to order, which can lessen their purchase stress.
In fighting inflation, this model works well for our customers and Franchise Owners because customers are never restricted to one flooring brand. Footprints Floors allows — and encourages! — customers to shop around. This is beneficial because inflation is not the only problem at hand; unfortunately, shortage issues have also become commonplace in the home improvement industry. For example, a customer visits the flooring outlet of their choice, but they are all out of the material they were planning to purchase, and no one can give them a firm date regarding when the materials might arrive. The customer can either select another material or shop at another outlet with the needed material.
In addition, customers have the freedom to compare prices. Two nearby suppliers may have the material they want, but one is cheaper than the other. This is another way in which Footprints Floors helps our customers fight off inflation. Customers genuinely appreciate how much thought we put into saving them money. During times like these, we recognize that every dollar counts.
Should you be interested in operating a Footprints Floors faith-based franchise, we invite you to peruse our franchise website at www.footprintsfranchise.com. Now is as great a time as ever to invest in a Footprints Floors franchise. We proudly secured a spot in Entrepreneur’s annual Franchise 500® as well as within their Top Low-Cost Franchise 2022 and a Fastest-Growing Franchise 2022 rankings.
It’s hard to predict what’s in store for the future of the economy. Still, we are confident when we say that Footprints Floors will continue to do our best to fight off inflation and be an affordable, home-based flooring business that customers across the United States can count on when it’s time to embark on a flooring project.