You want to own a property-focused franchise, but aren’t sure if management or restoration is the way to go? We understand – investment decisions shouldn’t be taken lightly. Learn the differences between owning a property management franchise and a restoration franchise. See how they compare and how to choose the right opportunity for you and your portfolio.
What is a Property Management Franchise?
Property management companies are contracted to oversee and maintain real estate properties on behalf of the property owner. Typically, property management businesses do not own the properties themselves. Instead, they’re brought in to handle the day-to-day. This includes advertising vacancies, leasing, rent collection, tenant screening, property maintenance, and regulatory compliance. Many property management companies handle multiple types of properties including residential, commercial, and industrial.
So, What’s a Property Restoration Franchise?
Real estate restoration franchises focus on repairing and restoring commercial and residential properties after a disaster. Property restoration companies are trained to move with urgency and can typically be reached at any time. They provide many different services, including water damage repair, fire damage restoration, indoor air quality control, reconstruction, and disaster response. The goal of restoration franchises is to return properties to their pre-damage condition.
How These Options Compare
Both of these franchise opportunities are customer-focused, service-oriented businesses that depend on reliable service and customer satisfaction in order to maintain business success. Startup costs may vary depending on the brand you choose to invest in, the location of your business, and the size of your territory. Both property management and restoration franchises have similar investment costs – ranging anywhere between $100,000 and $500,000 when considering operating expenses, office spaces, insurance, fees, equipment, and working capital. As a potential franchise investor, you should carefully review the financial requirements of the individual brands to determine the best fit for your investment goals and current economic standing.
But the similarities between these two franchise opportunities stop there. Property management – as mentioned earlier – consists of very different tasks compared to property restoration. As a potential franchisee, you’ll need to determine if your skills are better suited for ongoing maintenance of a property or emergency response and repair.
Why Invest with a Restoration Franchise
It’s true that working an emergency response business could mean getting calls at any time, including nights, weekends, and even holidays. However, with an increase in natural disasters and an aging infrastructure nationwide, demand for restoration services is only growing. Plus, the restoration industry is recession-resistant. Disasters can happen at any time, whether natural or through human error. When these events occur, people are going to need help restoring their homes or businesses – and they’ll call in a professional.
Partner with Lightspeed Restoration
Lightspeed Restoration is one of the leading disaster restoration franchises. We offer our franchisees advanced business operations technology, strong marketing support, and hands-on training. In our state-of-the-art IICRC-approved flood house, you and your team will learn how to restore properties from fire and water damage.
Our franchise opportunity is affordable, with startup costs ranging between $154,230 and $252,500, including our $49,000 franchise fee. We also offer qualified franchisees up to $35,000 of in-house financing. Lightspeed Restoration franchise partners pay royalty fees ranging from 5% to 8% of gross sales, in addition to 2% in ad royalties for the life of their agreement.
With territories available for investment across the country, we’re actively seeking driven entrepreneurs who are eager to join the booming restoration industry. If you’d like to learn more about franchising with Lightspeed Restoration, request information today, and one of our franchise development representatives will be in touch.