In 2017, Green Home Solutions added 65 new units and 15 new franchisees to its system, bringing its total unit-count to 155, with locations in markets across the U.S. The air-treatment franchise is making an even bigger development push this year, planning to open 90 units before the end of 2018. Many of those units are targeted for markets across Colorado.
According to Green Home Solutions CEO Jeff Panella, Colorado’s geographic makeup, demographics and wide availability create a uniquely lucrative opportunity for new franchisees.
“Colorado is really the perfect market for Green Home Solutions,” Panella said. “Yet we only have one franchisee established there. He has two territories, and he’s found a lot of success.”
Panella says the franchise is only just beginning to target on Colorado because the development team has been focused on building out the West and East Coasts.
“We’ve seen extremely rapid growth on the West and East Coasts, and we’ve been making sure that all of those markets are well supported,” Panella said. “There are a number of new markets where we expect to find success, but it doesn’t make sense for us to open a new franchise somewhere and then immediately move to a new market without making sure that the franchise has everything it needs to be successful. Now that we are focused on Colorado, we’ll put the same time and energy into providing our new franchisees all the tools, training and support they need.”
One of the reasons Panella is so confident in Colorado’s potential for Green Home Solutions owners is the state’s famously environmental consciousness.
“We try to find markets that are aligned with a certain culture attitude,” Panella said. “Markets like Oregon, Asheville and especially Colorado all have a clear and genuine interest in sustainability, the environment and health in general, and those are the interests that draw customers to Green Home Solutions.”
That concern for health and sustainability is also reflected nationally among younger, middle-to-upper-class families, a demographic that has flocked to Colorado in recent years. The median age across the state is 36, which Panella says is a sweet spot for the brand.
“36 is right in our wheelhouse,” Panella said. “We are looking for younger parents who are concerned with their health and how they are taking care of themselves and their children.”
Colorado also has a large population of young professionals and is one of the country’s most educated states, both features that align with Green Home Solutions target demographics.
“We have great synergy with Colorado,” said Neil Thompson, National Sales Director for Green Home Solutions. “The residents fall right in line with our traditional customer base. These are people who are very concerned with the environment and are seeking a better quality of life.”
While Green Home Solutions’ development team plans to establish locations throughout Colorado, they are looking first to Denver, Colorado Springs and Pueblo, cities that have thriving downtown areas and equally flourishing suburbs.
“We try to build territories outside, but not too far outside downtown areas,” Panella said. “That allows us to be near family-size homes in the suburbs but close enough to downtown that we are near the working professionals.”
Startup costs to open a Green Home Solutions territory in Colorado range from $45,675 to $76,250 and Panella says he expects to have no trouble finding eager, qualified investors in the state.
“It’s not hard to see the upside of an investment like this in an environmentally conscious place like Colorado,” he said. “And we won’t have to scour the state looking for people who can manage the business. It’s not difficult to run, you don’t need a special degree, you just have put in the work and follow the model. We know we’re going to find a lot of talented, passionate partners in Colorado, and I’m excited to work with them.”