Beginning with the end in mind when buying a business
DreamMaker’s home remodeling franchise opportunity helps create more profitable businesses that are attractive to buyers
“I decided to sell my franchise when I bought it,” says Bill Wolf, who recently sold his DreamMaker® Bath and Kitchen Grand Rapids, MI. He owned an independent remodeling company already, but as he looked to his future, he explored our home remodeling franchise opportunities. He knew it would be a way to make his company more profitable and more attractive to buyers when it came time to retire. “I had that idea in mind when I got started with DreamMaker, because I realized I would need to have something I could sell to have the kind of retirement I wanted.”
With DreamMaker, he got the best of both worlds: a business with the systems, support and institutional knowledge to help him operate successfully, and an asset that was more attractive to buyers when he was ready to retire.
What makes DreamMaker a great home remodeling franchise opportunity
Wolf had already been involved in the remodeling industry for years when he first opened his DreamMaker home improvement franchise, both as an employee at another remodeling company and as an owner of his own independent business. By that time he’d gained the wisdom to realize there were areas where he could use some help, like creating marketing materials and taking clients through the sales process. He found that help with DreamMaker.
“Running a company on your own, you have to develop your own logos, marketing materials – you’re all on your own in terms of what is working and not working,” says Wolf. “DreamMaker has professionals who can help with the marketing; the materials are all consistent and well-researched. These are things we could not afford to do and did not have the expertise to do on our own. They also have a great sales process so we could learn how to improve our techniques, not through high-pressure sales, but by asking good questions, listening and having a system in mind.”
Another thing he didn’t have as an independent business was the supportive network from both the DreamMaker team and his fellow franchisees.
“I love the Code of Values, and I’ve loved being part of a high-quality organization where everyone is working toward meaningful standards,” says Wolf. “DreamMaker has what we call Next Level Groups, and we visit other franchises around the country. We evaluated them, saw what they were doing right and wrong, and got great ideas on how to improve our own business.”
What makes a home remodeling franchise a valuable asset
All of those benefits not only helped Wolf run the business, they also helped him sell it once he was ready to retire.
“The value of any company that you sell is contingent on having all the major pieces in place,” says Wolf. “I have strong margins and good profitability. That makes the business more desirable, and that means it’s worth more to buyers so you can have more money for your retirement.”
And the final piece of the puzzle is finding the right buyer, the one who will carry on your legacy and lead the team you’ve worked so hard to develop. Wolf says he’s confident in Bob and Becky Swift, the franchise’s new owners, and confident in his team’s future with them.
“You don’t want to have just anybody take over the company, you want it to be someone with a good idea of the climate of your company and the values that you have,” says Wolf. “They became more interested when they found out it was a franchise; they were pleased to have someone standing beside them to help them succeed.”
Ready to learn more?
For in-depth details about DreamMaker® Bath and Kitchen’s home remodeling franchise opportunities, download our franchise information report and start a conversation with us. You also can learn more by visiting our research pages.