The drywall market in the US is estimated to increase rapidly by 2028. So, if you are reading this list of the 3 best drywall franchise opportunities in 2024, then congratulations! You are already ahead of the competition.
According to Hunker, the drywall is used in 96% of houses. This means that millions of people are thinking of getting the services of a drywall company.
Therefore, to ensure that your drywall franchise will flourish in the future, you have to choose the best franchise. So, here we present the 3 best drywall franchises that you can start your 2024 with.
3 Best Drywall Franchise Opportunities
1. The Patch Boys
Drywall damage is quite common, and you can buy the drywall kit from a hardware store, but it doesn’t turn out how you want it. This is where The Patch Boys come into play.
The Patch Boys is a company founded in the year 2006 and began franchising in 2015. The company was established with a mission to provide a trustworthy and reliable drywall patching service to homeowners.
One major advantage of owning this franchise is that you can start with relatively low capital and don’t need the experience to operate it. The Patch Boys is the largest drywall franchise in the United States. This means owning the franchise will make you a part of the big family.
2. Hole In The Wall Drywall Repair
Hole In The Wall Drywall Repair was founded by Bill DeMent in 2014. He became frustrated with the contractors who were dishonest, messy, and unreliable. Unlike other drywall repair companies in the city, no job is too small for Hole in The Wall Drywall Repair.
The company is built on knowledge, skill, and experience to deliver exceptional customer satisfaction. To own this company, you need an initial investment of between $69,200-$159,100.
Hole In The Wall Drywall Repair also requires franchise fees of $35,000 and royalty fees of 7%.
PatchMaster is a home service franchise brand offering a fast and professional solution of drywall repair to customers.
The company was founded in 2016 and began franchising in the same year. The primary services of PatchMaster include plaster repair, painting service, sheetrock repair, and drywall. Since 2016, the company has expanded to over 40 franchises in the United States and Canada.
If you are an outgoing person with a background in sales and marketing, then this franchise is the ideal match for you. However, first, you should make sure that you are financially ready to own this franchise.
When Should You Choose A Drywall Franchise?
If you are confused about when is the right time to choose or invest in a drywall franchise, then the first thing to do is evaluate the pros and cons of the franchise.
By evaluating the benefits you’ll be getting and the disadvantages you have to bear, you’ll be able to better decide on selecting the right time to invest.
Benefits Of Drywall Franchise
1. High Customer Retention
One of the benefits of owning a drywall franchise is the high customer retention. Once a customer is invested in your services/products, they’ve invested their time and energy to utilize your services, which are of high value to them.
Typically, this makes your product or services indispensable to the customers. In turn, it increases your customer retention.
2. Human Interaction
If you are an individual who thrives on human interaction, this franchise business is for you. As in drywall installation, you’ll be hands-on with the customers or employees daily.
However, if you want the least human interaction, then unfortunately, this is not an ideal business for you.
3. Physical Activity
Drywall franchises typically involve a greater degree of physical activity. Most days, you’ll spend your days walking, running errands for your business, and performing a multitude of tasks.
This, in turn, can have a positive impact on your level of energy and your physical health. On the contrary, a drywall franchise is not ideal for you if you are not looking for some physical work.
Disadvantages Of Drywall Franchise
1. No Passive Income
If you are thinking of owning a drywall franchise as a passive income, then you won’t be happy with the income you’ll be making.
Oftentimes, the amount of income you earn is directly proportional to the amount of time you invest in the business in a day.
2. Answering Phone Calls
The drywall franchise business is still considered a traditional business. This means phone calls are a big part of running this franchise.
So, if you or your team member misses the call, you could miss out on potential revenue opportunities. However, if you have already made up your mind about owning the franchise, then you can also hire a call center or an employee for the phone calls.
3. Out Of Comfort Zone
Although it can be exciting for some entrepreneurs, it can be a big challenge for others. You may find yourself in uncomfortable social and business situations.
You also might do the tasks and responsibilities you aren’t familiar with. So, you also have to push yourself as far as you go.
Factors To Consider Before Investing In A Drywall Franchise
Here are factors to consider before investing in a drywall franchise:
1. Training And Support
One of the primary advantages of owning a franchise is that it comes with a proven business concept. However, not all franchises are created equally, so you have to invest in a franchise with sound operating systems.
Also, make sure that the franchise provides you with the necessary training and support to run those advanced operating systems. Most often, the franchisor provides both classroom and on-the-job training, which is typically conducted at the headquarters.
2. Franchise Disclosure Document
A franchise disclosure document is a 200-page document that every franchisor provides you. It is a crucial document that lists every detail, from the rules and regulations of the franchisees to the training and support it’ll provide.
Therefore, make sure that you read the document before investing. It is recommended to hire an attorney who has a better understanding of the industry and experience in the legal market. However, for this, you have to make sure that you select the right and the best franchise attorney.
3. Research The Market And Competition In The Location
Before investing in a drywall franchise, it is crucial to research the market and look for the competition in the location.
Determine what clientele and market will support your franchise now and in the future. Also, research any competition and list down the strategies they use. You should also list the strategies that will make your franchise different from the competitors.
Comparison Of Top 3 Drywall Franchise
|The Patch Boys
|Hole In The Drywall Repair
This is a list of the 3 best drywall franchise opportunities to start your 2024. This list is based on the experience, reputation, and business model of the franchises.
However, there are factors that you must consider before investing in the franchise. Understanding the franchise disclosure document is a crucial factor, among others.
So, make sure that you have clarity on which business you are getting into and what will be provided to you by the franchisor. Also, get a very clear understanding of the costs associated with operating the franchise.
Is drywall repair profitable?
Yes, drywall repair is an extremely profitable business. However, not many people know about the profitability. The secret in this industry is to only offer drywall repair service and not any painting.
What is the profit margin of drywall franchise?
The profit of the drywall franchise ranges between 10%-15%.
How much money can you make as a drywall franchise owner?
Drywall installers earn an average annual base salary of $54,773, according to the 2022 survey of Construction Craft Salary.