How to Choose a Restoration Territory
One of the most critical decisions you’ll make when becoming a franchise owner is deciding where you want to run your business. There are several factors that go into such an important decision, starting with the services you offer.
Understanding the Market
If you’re joining a franchise like STOP Restoration, you’ll likely have the decision of which services you offer. And your decision may be largely based on the location because you could be conducting business in an area that has:
- High humidity or water damage problems with shore properties
- Hurricanes, tornadoes, wildfires, or severe storms
Beyond weather-related issues, what’s the population of your preferred territory? Is it urban, suburban, rural? Will your team have to drive hours to serve customers? These are all things you should be thinking about before purchasing a territory.
Do You Want to Move?
Joining a franchise is a great time to execute that move you’ve been thinking about doing. If the area you have in mind is available, this could be your big opportunity to relocate, start a business, and thrive in your new lifestyle. Of course, deciding to own a franchise doesn’t mean you have to move necessarily, it all depends on your preferences and the available areas.
What Territories Are Available?
Speaking of availability, you need to know if someone already has ownership of the territory you’re eyeing up. Franchises protect operating rights within territories to avoid competition between other franchisees. Some businesses will offer a map showing which territories are available – you can take a look at our territory map as an example.
How Much Business Do You Want?
A critical consideration when looking at territories, you’ll want to be strategic about where you run your business. Large territories offer more opportunity for growth, but depending on the area, they could also spread your resources fairly thin. On the other hand, smaller territories offer the ability to take a deep dive into your target audience, but you could be restricting your growth potential. There are pros and cons to each option, all dependent on your goals.
Growth Opportunities Available
As you continue learning and expanding your business, does the territory you want have the capacity to scale with you? While you may not want to start out owning an area that covers a large market, it’s smart for long-term planning to know this information in advance.
Franchising With STOP Restoration
At STOP Restoration FranDev, we design our franchise ownership opportunities to cater to you as an individual. Before we became a restoration business, we were in the business of consulting, so we know how to train, and do it well. Our industry professionals have been doing this for years, and with an emphasis on continual learning, we never stop moving forward. Along with assistance picking the right territory for your business goals, you’ll have help with:
- Business Planning
- Customer Retention
- Industry Information
- Technical Training
Give our friendly team a call at (844) 980-1518 to learn more about starting your restoration business.