Budget blinds, one of the most well-known home service franchises in the US and Canada, Budget Blinds will have 1,400 franchise owners by the year 2021.
This business offers a window treatment solution for home and commercial premises, including window blinds, motorized shades, and custom drapes.
Ever since I received a price of $15,230 to install blinds in my four-bedroom home, I’ve been interested in the Budget Blinds business.
There was no follow-up from the salesperson after the sales guy gave me the quote. Given that there was no follow-up on a project quoted at more than $15,000.
this is a company with a substantial profit margin and robust demand.
Something compelled me to investigate this home service business potential further considering my experience. Let’s look at the startup costs, fees, and prospective earnings of the Budget Blinds business.
Financial Conditions and Costs
Examining the financial requirements is a crucial step if you decide to apply to become a franchisee of this reputable windows-covering installation business.
The list comprises franchise fees, liquid cash, net value, and total investment.
Do they sound familiar? If you haven’t come across them yet, let me clarify the following terms for you:
|Total Expenditure||$125,580 – $192,900|
- The term “liquid capital” describes the whole quantity of money you will require on hand, which is always available for use.
- The value of all your financial and non-financial assets less the value of all your outstanding liabilities is your net worth.
- The overall amount of money you will need to invest in the franchise over time in order to get it up and running is called the total investment.
- The sum you must pay the franchisor in order to use its name and resources is referred to as the franchise fee.
More Financial Conditions and Costs
The recurring fees are an additional charge that you need to be aware of. The monthly royalty price is often between $300 and $1,500, whereas the monthly advertising royalty rate is typically between $1,000 and $1,500.
The first territory’s initial franchise price is $70,000. You can save $10,000 on the additional territory charge if you plan to buy two territories at once and pay only $130,000 for each of them.
Honorably discharged American veterans, active members of the US military, and their spouses are all eligible for a 15% veterans’ discount.
Your entire initial investment will vary depending on the real estate or leasing marketing conditions where you live.
To help you launch your business, Budget Blinds corporate will also provide you with marketing materials. This also includes a starter kit, which could include sample books and products.
These promotional leaflets can show various window treatment options to potential clients.
A business vehicle, typically a van, has a car wrap for Budget Blinds put on it. As for the equipment, you’ll need a Windows-compatible laptop with a minimum screen size of 14 inches.
This laptop can converse with potential clients and provide them with even more window decoration possibilities.
Average Annual Sales / Revenue
For the owners of Budget Blind franchises, the ongoing health crisis has really been a financial boon. Revenues for this service company increased because of people spending more time at home.
Buying homes, and a dramatic increase in demand for remote services:
|Annual System Sales||$37,000,000 (as of 2020)|
|Annual Sales Per Unit Average||$697,019 per territory (as of 2020)|
|Franchisee profit on average||$94,000 per location (as of 2019)|
The company rose to the 12th spot in the Entrepreneur’s 2021 Annual Franchise Rankings because of Budget Blinds’ increasing sales.
Budget Blinds is ranked as the 37th fastest-growing franchise globally and in just the United States and Canada. The leading company in the window coverings sector is this one.
How Much Does Budget Blinds Franchisee Make Annually?
A Budget Blinds franchisee reportedly earns 44% more money than the national average of all franchise owners. The franchise earns an average of $94,000 a year for each Budget Blinds site.
However, remember the real profit you’ll make as a franchisee will vary depending on market conditions and national and international economic developments.
Your marketing initiatives, your sales abilities, as well as regional elements like migration into your market, will all impact the revenue at your location.
If you chance to live in an area where there is a lot of new home building and if the local population is growing, this shows a successful Budget Blinds site.
Data about the Budget Blinds Franchise
They committed budget Blinds to give franchisees a way to become financially independent at the least expensive launch fee workable.
Compared to other franchises, this home-based business or retail storefront concept offers reduced beginning costs and scheduling flexibility.
They value business acumen at Budget Blinds. Entrepreneurial talents are versatile and include management, marketing, and sales abilities.
The company is looking for motivated team members who can learn the skills necessary to create a successful business.
Although you don’t need to have all of those talents when you start out in the position, you must be coachable and motivated to expand the company.
By 2021, this innovative home improvement company has amassed 1,321 units globally, growing 14.4% over the previous three years.
1,206 of them are American franchises, and 114 are franchises from other countries.
Franchisee owners frequently make $94,000 per year, which is 35% more than the average yearly wage for all Americans.
This is 44% more than the $60,000 national average of all franchise owners’ incomes.
Here is a summary of some of the accolades and achievements this business has attained:
- Best of the Best #1 ranking
- Rank #3 among the Best Franchises Under $150,000
- the seventh-best franchise for veterans
- Rank 37th out of the fastest-growing franchises (U.S and Canada)
- Rank 46th out of the fastest-growing franchises (Worldwide)
- Top Global Franchises ranking: 55.
Advantages of Budget Blinds Franchising
Self-starters seeking a tested business opportunity can choose Budget Blinds. The following are some benefits of opening a Budget Blind franchise.
In order to make a new home comfortable, you need a variety of things, such as furniture, appliances, and, of course, window treatments.
You will have a sizable market of potential clients if you live in an area where new residential home construction is increasing.
Between 2012 and 2021, about 7 million new single-family houses were constructed.
Of course, there are other sources of revenue for this enterprise. Many homebuyers desire to remodel their used homes to better reflect their personal taste.
You should be in good condition as an operator as long as the local housing market stays robust.
Product Innovation and Diversity
The variety of products that Budget Blinds offers is astounding. Customers can get anything they require making their homes better and more like their ideal homes.
from conventional window coverings (drapes, shades, and blinds) to home automation solutions (including smart lighting).
You may get a wide range of window treatment products with Budget Blinds that you otherwise wouldn’t be able to find on your own.
Since customers must contact you directly to have certain brands and designs of window treatments installed in their homes, this gives you a competitive advantage in the market.
Operational Flexibility in Business
Award-winning Budget Blinds has proven itself to the home renovation sector many times. The business has worked hard for over 30 years to serve the market with the greatest products and prices.
It is safe to conclude that the company is succeeding since they install 50,000 window treatments every week.
Franchisees are progressively achieving their entrepreneurial goals, and Budget Blinds fosters an environment that enables business owners to strike a healthy work-life balance and to be innovative and adaptable.
Most franchise opportunities don’t provide this kind of flexibility. Consider a restaurant that needs to be open every day of the week.
If you have a family emergency in a restaurant, there is no way to take a day off. On the other side, you can plan customer consultations and window treatment installations around your schedule.
After placing an order, customers frequently have to wait two months or more for the blinds to be installed.
Easily Accessible Professional Assistance
Budge Blinds appears to really care about the welfare of its franchisees, which relates to the prior argument.
This organization simply looks for franchisees with a positive outlook, work ethic, and a feeling of teamwork from potential operators.
In contrast to other companies that expect meaningful managerial And operational abilities from its applications. They supply the training and tried-and-true company model, while you bring your work ethic.
To ensure that less experienced partners may become prosperous business owners, Budget Blinds offers training, mentoring, and frequent digital learning sessions.
Budget Blinds Franchise Problems
Even while this business makes a good impact on the market, it is not a perfect opportunity creator. We list the difficulties you can encounter as a franchisee of Budget Blinds below.
The road to becoming a budget blinds owner can still be pricey, even though it is the third most affordable franchise, particularly if you don’t have the minimum liquid assets needed.
To begin with, candidates for Budget Blinds must have a working capital of $90,000 and a net worth of approximately $125,000.
Every additional territory costs between $74,950 and $124,950, while the initial investment is between $125,580 and $192,900.
If the numbers raise eyebrows, remember that this has a lower entry barrier than launching a restaurant franchise, where you may require between $1 and $2 million in net worth to be taken into consideration.
Budget Blinds and other businesses in the industry have experienced a decline in sales over the previous two years because of logistics problems.
All home service firms have experienced a delay in window treatment deliveries.
According to some experts, it may take another 18 months or longer to find a solution to the world’s shipping and logistical problems.
In the interim, anticipate additional delays in obtaining the product and full payment from clients.
The court case history does not enhance the company’s reputation. From 2006 to 2012, Budget Blinds faced legal difficulties brought by suppliers and suffered losses totaling $746,000.
Consider how a franchise’s reputation will impact your market-level sales success before making a purchase.
Are You Fit for a Budget Blinds Franchise?
Being able to use Budget Blinds with no prior experience is appealing. You won’t have to have a net worth in the millions to be eligible either.
- Examine your interests to see if Budget Blinds is the best franchise for you.
- Do you enjoy visiting strangers in their homes?
- Do you enjoy decorating rooms and improving the appearance of houses?
- Are you skilled in assisting customers and responding to their inquiries?
- Would you be interested in learning how to install window coverings and blinds in a person’s home?
If the answers to the aforementioned questions were affirmative, think about opening a Budget Blinds franchise.
What Type of Blinds is Budget Blinds Able to Provide?
Because they provide you with a variety of brands that are made for various residences and commercial properties, Budget Blinds encourages you to get creative with the aesthetics of your home.
Some brands to which you will have access are listed below.
- Hunter Douglas’ Luminette® Privacy Sheers
- SofTrak™ hardware system
- Hunter Douglas’ Solera® Soft Shades
- Hunter Douglas – the Duette® Honeycomb Shades
- Duette Duolite®
- Silhouette ClearView™ Shadings
- Duolite® system
- Smart Living with Silhouette.
- PowerView® Motorization
- Hunter Douglas’ Vignette® Modern Roman Shades
- Vignette Duolite®
- Sonnette™ Cellular Roller Shades
- Hunter Douglas’ Pirouette® Window Shadings
Can a Current Budget Blinds Franchise be Purchased?
Yes! You are more than welcome to join the community at Budget Blinds.
You can benefit from a low start-up cost, a hassle-free working environment, no inventory, and eventual financial independence with steady revenues with a minimum franchise fee of $89,950.
The first Budget blinds were formed in 1992 by Chad Hallock and his pals Todd Jackson, David Lewis, and Brent Hallock.
Tony Forbes under the parent business Home Franchise Concepts in Orange County, California, with the goal of creating a well-known empire in the home renovation sector.
Consider applying to the Budget Blinds franchise team if you still believe the Budget Blinds franchisee to be appealing.
A medium-cost franchise opportunity with a high potential profit margin is The Budget Blinds.
However, prospective franchisees must understand that this kind of business cannot be an investment that is passive, so I strongly advised that the owner takes part in day-to-day operations.