When you’re looking to make the switch from your corporate job to entrepreneurship, your journey will likely begin by researching the best opportunities for successful business ventures with the least amount of risk. At Merry Maids®, we have more than 40 years of franchise success rates, helping people make the transition from employee to franchise owner.
There are some common reasons why many of our prospective business owners say they chose a franchise rather starting a business on their own, including:
- Efficiency. With Merry Maids, you could have your business up and running in as little as 90 days.
- Limiting Mistakes. With a proven business model, you won’t have to worry about making the mistakes that are commonplace for independent startups. We cover the bases with our extensive training program to help you get launched and running easily and effortlessly.
- Support. When you want to be in business for yourself but are concerned about having access to support when you need it, franchising is definitely the way to go. Not only will you have a franchise development team to lean on, but also a network of successful franchisees who can help.
- Stable Revenue. We provide you with statistics on both average and top-performing franchisee unit revenues so you have real-time numbers of what others have done in the exact business you want to start.
While these are just a few of the reasons why franchising has appealed to many of our owners, another major factor was the work-life balance that the Merry Maids franchise provides.
Key Franchise Statistics
Franchising is a growing sector of the entrepreneurial community. Wondering if franchise ownership is right for you? Take a look at these recent statistics that contribute to franchise success rates:
- Franchising had a 9.3% growth rate from 2020 to 2023. The number of franchise establishments in the United States has steadily increased: 753,770 (2020), 774,965 (2021), 790,492 (2022), and a projected 805,436 for 2023.
- Globally, over 75 industries utilize franchising as a business model.
- 52.3% of all franchises in the U.S. are owned by multi-unit operators .
- Approximately 90% of franchisees renew their franchise agreements when they expire, which directly contributes to franchise success rates.
Franchise Trends You Should Know
A recent article in Entrepreneur Magazine highlighted the biggest franchise trends of 2023—many of which are continuing for 2024. One of these trends is that consumers continue to want a personalized experience along with the purchase of their product or service. Exceeding customer expectations is a key driver of franchise success rates in every sector of business. Additional trends that are projected include:
- An increase in on-demand services that can easily be booked from a mobile device.
- The resurgence of entrepreneurs looking to own a business they're passionate about, which began during the pandemic, will continue.
- Increased job stress in corporate America is driving more people to leave their corporate professions.
- Independent small business owners looking to scale are making the jump to franchising.
- Enhanced digital tools provide an easier and more efficient process for employees and customers to engage with a franchise.
There’s no doubt that franchising will continue to attract entrepreneurially-minded people who are looking to fast-track the opportunity to be their own boss. The opportunity to forego market research for an established and proven franchise business model is an exclusive advantage of franchising that should not be overlooked.
How Successful are Franchise Opportunities?
Every franchise opportunity is going to position itself as being a positive choice for starting your own business. According to Faster Capital , here are some factors to look at when making this evaluation for yourself:
- The industry’s overall profitability.
- The amount of initial capital you’ll need to get started.
- The industry’s competitors.
- Any hurdles you’ll need to overcome to enter the industry.
- Your skills and experience.
- The industry’s projected growth.
- The overall risk involved.
- Any current industry trends.
- The legal and regulatory landscape of the industry.
- The industry’s social and cultural environment.
The training and support programs provided by franchises like Merry Maids are vital factors in why franchises succeed. These pre-developed programs often reduce challenges that face non-franchise businesses, starting with profitability. Franchises can show you franchise success rates that include average unit volumes of others in the same business, and that can help with reducing the risk that often accompanies going out on your own.
Making the Smart Franchise Choice
At Merry Maids, we offer a path to entrepreneurship through a residential cleaning franchise . Our industry often has franchises with the highest success rates because of some key attributes that are unique to the residential cleaning business:
- Recurring Nature. Home services, such as cleaning, have a high success rate because they are in demand on a recurring basis. If you provide customers with high-quality results and excellent service, you can easily gain repeat customers.
- Low Cost of Entry. Compared to many other types of franchises or starting a business from scratch, our cleaning franchise offers a low cost of entry into the business world.
- Outsource Enthusiasm. House cleaning is one of the tasks that homeowners are often happy to outsource . This makes room for businesses to thrive because there is already a demand for the service.
While there will always be fluctuations in the economy, some industries are better positioned to handle those variations because they provide services that are necessary and essential. Residential cleaning is one of those industries. It is less likely you will need to dip into reserves or take a revenue hit if the economy tightens because cleaning is not likely to be a service that a homeowner will give up easily.
The Merry Maids Details
At Merry Maids, our focus is on attracting people who are high achievers when it comes to customer service. For us, this is one of the key success factors of franchising — making homeowners so happy with the service that they can’t imagine their lives without us. Profitable franchises are built through exceptional customer experiences.
On average, we are looking for a franchise owner who has approximately $50,000 for the franchise investment. There is an unlimited ceiling for your business to grow; the top 10% of our single-unit franchisees recorded over $1 million in annual revenue, while the top 10% of our multi-unit franchisees earned three times that amount.
Contact Merry Maids
You can join one of the largest house-cleaning franchises in the U.S. and start building the life of your dreams today!
Reach out to our franchise development team through our online form to get a conversation going about your future with Merry Maids.