Launching a restoration business is no small task. Creative Colors International can help you learn how to start a restoration business that is both profitable and has high growth potential.
The time is right to start a restoration business. The furniture repair and upholstery market in the United States is slated to reach $1.5 billion this year, according to IBISWorld, a company specializing in industry research. As consumers and commercial businesses tighten their purse strings, restoration businesses are thriving. Restoration can help customers save up to 90 percent in replacement costs. In addition, restoration businesses enable furniture and cars to maintain their resale value and look fresh. The benefit of restoring costly items is also growing in popularity as people strive to reduce their carbon footprint.
If your goal is to launch a successful restoration business this year, it’s important to know what is in demand and what you need to know to get started. Here are the five most important steps you need to take to get your business started on the right path.
Choose a Recognized Brand. Customers support businesses they trust. Having an upholstery business with brand recognition will allow you to scale your business faster and increase profits. CCI is a leader in the restoration industry. The company turned the ignition of its first van in 1980 and now owns, operates, or franchises at least 76 vans across the country. CCI offers a robust marketing program to help increase business, and as an added bonus, your mobile van acts like a billboard advertising your services. We also provide franchisees with a wide variety of marketing materials, print ads, pamphlets, and fliers.
Tackle Multiple Revenue Streams. Restoration and upholstery businesses have the unique ability to cater to a wide variety of industries, including commercial, residential, automotive, and marine. Having multiple revenue streams offers a pandemic-resistant and recession-proof business. For example, following the outbreak of the pandemic, Americans put a halt to purchasing big-ticket items, which had a ripple effect on the automobile industry. CCI franchisees who specialized in making car interior repairs were able to generate profits by focusing on residential customers who were spending more time on the home front and making home repairs.
Receive Ongoing Support. Opening a business can be risky. Nearly 50 percent of all businesses close by the five-year mark. CCI helps its franchise owners succeed by providing the proper training and ongoing support they need for their business to thrive. New franchisees attend an intensive, three-week training program at the company’s corporate headquarters, where they acquire technical, operations, sales, and managerial skills to keep their business afloat. A CCI field representative spends a week on-site with every franchisee when they launch, and the company provides support over the phone and at various seminars and conferences throughout the year.
“The thing that really sealed the deal for me was meeting corporate,” said Mark Kelliehan, a CCI franchisee. “As I researched and investigated, this seemed like it would be promising and rewarding. After meeting with corporate and seeing what their model was and their concern for the growth and for the success of the individual, I knew this would be a warm and friendly environment where they would support us.”
Right Price. Having a solid grasp of your expenses will allow your business to launch successfully. Knowing your startup costs will help you estimate profits and secure loans. Franchise businesses provide detailed numbers in their franchise disclosure document, eliminating the guesswork involved in starting a business from scratch. CCI is a low-investment opportunity with minimal overhead. The total initial investment to get a CCI business up and running is between $86,980 and $102,100, including the down payment cost of your van, van setup, pre-opening travel, insurance, office supplies, working capital, and other expenses.
Flexibility. One of the reasons many people pursue entrepreneurship is to attain work-life balance. Starting a business from scratch can be a time-consuming challenge. Franchising gives potential business owners a plan of action. It offers them the steps they need to follow to be successful, making work-life balance attainable. CCI franchisees are not tethered to a retail outlet, and many conduct back-office administration from a home office, giving them the flexible schedule they crave. As an added bonus, not having a brick-and-mortar location helps cut costs, enabling people to generate a profit at a faster pace.
Learn More About CCI Franchise Opportunities
If you’re ready to partner with CCI to learn how to start a restoration business, click here to request franchise information and learn more about joining our team.