As if the world hadn’t experienced enough bad news through 2020 and 2021, this year has delivered even more negative press. And now we have added uncertainty here in the UK, with nobody in charge at number 10 right now! It’s all adding up to some serious financial challenges for most households, as pretty much everything we buy – from everyday necessities through to rare treats and luxuries – become increasingly expensive.
So, if you were considering investing your life savings into a new business venture – and possibly taking on a hefty business loan as well – what are the most sensible options out there for you?
Well, the smartest investors will be looking at sectors that are enjoying high customer demand, such as the booming home improvement industry. Then they’ll consider businesses that have a long and strong record of success, particularly through periods of economic turbulence and political uncertainty. And, of course, they’ll factor in how fast their return on investment is, as well as gauging longer term forecasts set against anticipated changes in buyer behaviour or technological advances.
It’s for all of these reasons – and more – says Dream Doors’ Director of Franchise Recruitment Alex Waite, that many entrepreneurial types are drawn to the company’s franchise opportunity. “We specialise in affordable makeovers that save customers thousands compared to a new fully fitted kitchen,” says Waite. “In fact, our typical project is a third of the cost of an average UK kitchen. And that obviously appeals to homeowners who are feeling the pinch.
“Dream Doors has been trading since 1999 and has grown through several economic downturns,” he adds. “We trebled in size during the Global Financial Crisis and subsequent recessionary years, and we’ve posted record sales during the COVID-19 pandemic. Last year 15 locations each achieved annual sales in excess of £1m, and at the halfway point this year, 21 franchisees are on target to do the same. This business works whatever is going on in the wider world, and that appeals to investors as much as it does our customers.”
But it isn’t just seasoned entrepreneurs that start a Dream Doors franchise, says Waite. “A large percentage of our franchisees have never run a business before, and hardly any have previous kitchen industry experience,” he says. “Through intense training and ongoing support, we can help almost anyone who has the right appetite build their own lucrative kitchen makeover business.”
David and Kate Howle, who run Dream Doors Worcester, achieved annual sales of £1.74m last year – a 40% increase on 2020’s performance. They put their success down to hard work, their own individual skill sets and, in David’s words “…a superb business model.” He adds: “In my business life I’ve received a lot of training, but the support we’ve had from Dream Doors has been more professional than anything I’ve experienced before.”
The franchise has changed many people’s lives for the better, most obviously through its high earnings potential – top franchisees take out quarter-of-a-million pounds annually in a combination of salary, dividends, pension contributions and associated benefits.
Current franchisees of the year, Lavine and Jen Jones, opened their Dream Doors showroom in Swansea back in 2014, and have enjoyed a phenomenal return on investment. Lavine admits the business has put them in a very stable position financially “Dream Doors has been very rewarding,” says Lavine. “It’s blown all previous earnings out of the water and, financially, we’re very stable.
“It has created lots of options for me and my family; I wouldn’t change a thing,” he adds. “And would I do it again? Categorically yes!”
So, what of the future for Dream Doors? Naturally, the company itself is confident, but that optimism is supported by its historical trading performance, and a fair assessment of what the marketplace might look like in years to come.
“Dream Doors is in a fantastic position,” says Waite. “We’re part of Neighbourly, the world’s largest parent company of 30 home service brands, made up of almost 5,000 franchise locations in 9 different countries that serve over 10million customers worldwide. And that level of investment, resource and economies of scale puts us and our franchisees in a secure place.
“Moreover, we operate in a sector that will always be in demand – so long as people continue to cook, eat and entertain in their homes! The kitchen is the heart of the home, it will always need updating or incur repairs. And those projects will always need people to coordinate, as well as businesses like ours to deliver. Because of that, I truly believe we have a future-proofed business model.”
This article comes courtesy of Dream Doors, the UK’s #1 kitchen makeover brand and a long-standing full member of the British Franchise Association.
