Starting a New Solar Installation Business Or Buying A Franchise?
No doubt Solar panel installation is a very good choice if you are planning to start a new business. It is expected that solar installations will provide one-quarter of the world’s energy needs by 2050, and it is a prediction that 11 percent of solar energy will come from rooftop solar panels. So if you are planning to start solar panel installation business it is the right time.
Now the question arises is should you start a new business from scratch or buy a franchise?
Both have their pros and cons. Starting a solar panel installation business from scratch requires a lot of research. You need to learn about the industry, products, brands, tools and competitors etc. Once you are done with your research and you are implementing the business plan you need to plan your marketing strategies from scratch, brand image, name, logo, promotion etc. You also need to find out suppliers in your area and build good relationship with them to start working together. Above all you have to be ready to face your customers. You should be thorough with your business to answer your customers and look confident in front of them.
All the above efforts look difficult but they are not impossible either. It just needs lot of patience hardwork and knowledge. And once your solar business has started you can do your own calculated experiments and implement ideas without any boundations which you might have while running a franchise business.
Now comes buying the franchise. It is probably easier and cost effective than starting the business on your own. You get an already established business model so the biggest work is already done. Even the flaws and setbacks have been taken care of in most cases, but you need to research about various companies which can provide you franchise opportunities. Select which one suits best for you according to your preferences and selection criteria.
The business plan, marketing strategy, logo, brand name is readily available to you.
You need to get maximum information about the company, the way they run business, capital required to start the business and the complete process of buying the franchise. Arrange for the capital, and get necessary training from the company. With some changes in the business plan if you want to mak,e you are ready to start your new franchise.
Although franchise seems to be a better option when it comes to the amount of work required before starting the business and the amount of risk involved. But still it depends upon personal interest. We wish you a good luck in whatever option you choose for starting your business.