Ever heard the saying, “the riches are in the niches?”
Well, some of the most successful entrepreneurs I know have identified a niche that is wide open.
And they just launched a new franchise to take advantage of this opportunity.
The niche is outdoor lighting…
- Holiday lighting…
- Landscape lighting, and…
- Lighting rentals for events (e.g. weddings, parties, concerts, etc.)
Buckle in. Here’s the business case…
You see, there’s a ton of money spent in these spaces each year yet no company has gone after this market in a big way.
So some smart franchise entrepreneurs are pouncing on the opportunity to create the national brand name in outdoor lighting.
A big reason is the money…
You’ll probably be surprised by the numbers if you want to see them.
I didn’t realize how much money is in outdoor lighting until I met with the founders and they showed me the numbers in their Item 19.
Side note: This company does a good job at publishing a detailed financial breakdown in their Item 19 that includes
- Revenue
- Expenses
- EBITDA
And KPI’s like
- Annual customer retention rate (which is way higher than I expected)
- Residential vs commercial breakout
- Wages by employee type, and
- Other insightful data
Anyway, after speaking with the leadership team, I learned there are three trends fueling this business…
—————————————————
Trend number one: The millennials
The millennials are becoming a large percentage of homeowners and they tend to outsource everything, including holiday lighting.
—————————————————
Trend number two: We love our houses
People are spending more and more money beautifying the outside of their homes.
Next time you’re driving around, take a look at how many outdoor projects are going on at people’s homes.
Commercially, smart businesses are jazzing up their exteriors to keep customers coming in.
(There’s a shockingly large opportunity in this commercial space)
—————————————————
Trend number three: Technology
Smart-home technology where people can control their home and workplace from their phone. This includes exterior lighting colors and themes.
—————————————————
What’s happening here kind of feels like the window coverings industry twenty or so years ago, when Budget Blinds was the first franchise brand to go after this growing niche that was highly fragmented in its infancy.
Budget Blinds has since grown to a behemoth – with an estimated $718 million in annual system-wide sales according to Franchise Times.
Not too shabby…
This is where the second part of this franchise’s story gets interesting.
And, it’s all behind the scenes.
Two franchise entrepreneurs who have already built three national franchise brands in sectors with similar characteristics to outdoor lighting – fragmented niches with no national brand name – are the leaders behind this franchise.
And, they’ve assembled a talented management team to take this brand and its franchisees to the top of the outdoor lighting market.
They provide some of the most sophisticated and cost-effective resources to franchise owners I’ve seen.
Things like…
- Centralized customer service center that handles all calls
- In-house digital advertising agency
- Wholesale company for sourcing lighting directly from manufacturers
- Help recruiting and hiring the right people
- A relentless focus on franchise owner profitability
I could go on and on…
Here’s the point…
This team has figured out a way to accelerate a franchise’s growth and they’ve set this franchise up to scale. Fast!
They’re smart.
Talented.
Well funded.
And, they’ve done it three times before.
Prime territories are currently available but they’re starting to sell franchises quickly so that won’t last for long.
They’re specifically looking for franchise owners who want to be the CEO of a sales and marketing engine and build a large business (not the “guy or gal in the truck.”).
I’m told this franchise can be started and run full-time or semi-absentee.
The systems are in place to enable semi-absentee ownership and the franchisor embraces it for the right candidates.
(Which makes this one of the few service-based franchises with true semi-absentee potential)
There’s a very transparent discovery process that will help you easily get the information you want to figure out if this business is a fit.
Minimum financial requirements are $100k liquid (cash/savings, stock, retirement, etc.) with $500k+ net worth.
If you’re interested in exploring this business, book a time to talk. Here’s the link: https://calendly.com/dcarpenito/outdoor-lighting-franchise