Aspiring entrepreneurs can’t always choose the market conditions under which they launch their business. If they try to wait for perfect economic circumstances, they may end up waiting forever.

Even amidst economic uncertainty, however, it’s possible to take a smart approach to entrepreneurship—mitigating risk and laying a foundation for long-term success. One of the best paths to business ownership during economic uncertainty is joining a proven home service franchise. The franchise model gives entrepreneurs an established brand identity, proven processes and centralized resources.

Brands consumers trust

One of the most difficult aspects of launching a new business is establishing a brand identity —particularly when the marketplace is already crowded or consumers are hesitant about gratuitous spending.

This is where home service franchises provide a leg up over launching an independent business. They have established name recognition and proven identities within the marketplace.

When it comes to Five Star Franchising, three of our brands were ranked on the Entrepreneur Franchise 500 list – Mosquito Shield, Five Star Bath Solutions and Gotcha Covered. Having that brand recognition helps bolster marketing efforts and attract more customers because you have been touted as one of the best.

In addition, buying a franchise allows entrepreneurs to leverage that trust and enjoy the benefits of having a built-in customer base.

Low cost of entry

During seasons of economic uncertainty, the last thing aspiring entrepreneurs want is to invest huge sums of money in a new venture. With franchising, they don’t have to. Because franchises come with so much built-in collateral, from marketing resources to product and service development, the cost of entry can be quite low.

This is especially true of home service franchises. In fact, several Five Star Brands were listed among Entrepreneur’s top low-cost franchise opportunities. Mosquito Shield, Five Star Bath Solutions and Gotcha Covered were listed with the Top Franchises Under $150K. Card My Yard secured a position on the Top Franchises Under $50K.

Platform resources and support

Having to reinvent the wheel or build something from scratch can feel daunting, but buying a franchise allows aspiring entrepreneurs to benefit from tried-and-true processes.

From training to established financial models to centralized marketing resources, franchise platforms provide the tools that new entrepreneurs need to get their business up and running—minimizing the risk associated with launching a new business, even during a period of economic slowdown.

Five Star Franchising provides a Rolodex of home service franchise brands for aspiring entrepreneurs to choose from. We are sure we can find the perfect fit for you. Ready to get started? Take our Five Star Franchising quiz to find your perfect fit or, to learn more, visit us online.