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Building your own home is many people's dream, although it's one that most people never achieve.

Instead, developing one's own home is the next best thing for many – and as a result, renovation workers, DIY stores and building contractors are more and more in demand.

With the help of reality TV home makeover shows, the US and UK in particular is still riding the crest of a home improvement wave, as high property prices in the UK are fuelled by homeowners making the most of their pile of bricks.

And as many people look to build extensions, conservatories, re-roof their homes or simply redecorate, there is an abundance of companies looking to cash in on this profitable market, making entry into the home improvement market tough.

Of course, this is why many entrepreneurs look to franchising, which can help someone create their own business based on an established model, with support and guidance from the franchiser themselves.

Often, building franchises carry out light construction, such as installing conservatories, rather than getting involved in house building, extensions or major renovation work. However, the opportunities are wide ranging, including estate agents, gardening franchises and decorating firms.

Franchisees can also take advantage of the fact that many people take the equity in their homes to pay for additional services, meaning the market is brimming with high spending consumers looking for a good service.

This is where the enterprising franchisee comes in and highlights the importance of planning well before attempting any kind of franchise. The potential franchisee must consider their own financial status before embarking on any business venture, with the home building market a particularly high risk area in terms of financial loss.

However, the returns are also strong, with successful franchisees often moving on to multi-franchise and create their own businesses.

As a result, the franchisee needs to be particularly business-minded and have a flare for monitoring the construction and property industries, as taking advantage of key moments in property markets can be vital for success.

Of course, location is always key to a business, although many home building franchisees can often take advantage of the nationwide marketing of the franchise and concentrate on local projects in areas of high gain.

A sound knowledge of house building would certainly be an advantage in this area of franchising, although this may not always be the case for some of its related branches, such as home decoration franchising and gardening franchises. All successful ventures, however, ultimately require a great deal of personal and financial investment.

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