Best & Worst Franchise Businesses to Start in 2024

Exploring franchise opportunities in the home services sector can offer lucrative possibilities and pitfalls. In 2024, entrepreneurs looking for new ventures have a range of options from which to choose. In this article, we will examine the three best and three worst home service franchises to consider, with a specific emphasis on keeping initial investments reasonable and market demand steady.

Best Franchises to Consider

1. Lawn Care Services Lawn care franchises are an attractive option due to their consistent demand and scalability. These services cater to both residential and commercial properties, providing entrepreneurs with a broad customer base. The startup costs are generally moderate, mainly depending on the size of the equipment and the initial team. The recurring nature of lawn care services ensures steady income through maintenance contracts, enhancing the financial stability of the business. The primary downside is the necessity of being closely involved with the day to day to a point that it may detract from management responsibilities.
2. Cleaning Services Residential and commercial cleaning services are perennially in demand, making this sector another top choice for potential franchisees. The overhead and startup costs are minimal because the essential supplies and equipment are inexpensive and readily available. Franchise brands in this space often have strong name recognition, which can help in quickly building a client base. Furthermore, as hygiene continues to be a priority for many in the post-pandemic era, the market for cleaning services appears robust and expanding. From power washing to house cleaning, there are many avenues to run a business in this realm of the home improvement and home services industry.
3. Painting Services: Starting a painting franchise like CertaPro Painters stands out as an excellent opportunity for several reasons. Firstly, the initial investment is comparatively low, especially when pitted against franchises requiring heavy equipment or advanced technology. The painting industry is also somewhat recession-proof; regardless of economic downturns, buildings—residential and commercial—require upkeep and fresh coats. Additionally, CertaPro offers a proven business model with extensive support in marketing, operations, and customer service, making it an appealing choice for entrepreneurs without prior experience in the painting industry.

Worst Franchises to Consider 

1. HVAC Services While HVAC services are essential, the barriers to entry are significantly high. The initial investment includes costly equipment and the hiring of technicians with specialized skills, which can be a deterrent for new entrants. Moreover, the HVAC market can be heavily saturated in certain areas, increasing competition and making it harder to achieve a substantial market share.
2. Solar Panel Installation The solar panel industry is highly dependent on local market conditions and government incentives, which can be unpredictable. Although the push towards renewable energy continues to grow, the significant upfront investment and the technical expertise required make this a risky venture for those new to the field. Additionally, fluctuations in the market can drastically affect profitability, making it a less stable investment compared to other home service franchises.
3. Smart Home Installation Smart home technology is undoubtedly on the rise; however, this market segment faces specific challenges that might not make it ideal for franchise beginners. The technology evolves rapidly, which means ongoing training and updates are necessary, adding to the operational costs. The competition with DIY smart home products also poses a considerable challenge, as more consumers opt to install their devices.

Set Yourself Up For Success With The Right Franchise Today!

When considering a franchise in the home services industry in 2024, it’s essential to weigh the initial investment, market stability, and the level of ongoing support offered by the franchisor. Companies like CertaPro Painters offer a balance of these elements, providing a compelling business model with ample growth potential. Meanwhile, ventures like HVAC services, solar panel installation, and smart home setups require a cautious approach due to their high startup costs and market volatility. By choosing wisely, entrepreneurs can leverage the strengths of the franchise model to build a successful business in the ever-evolving landscape of home services.