But a good economy is only one reason why this trend is mostly expected to continue. Here’s the other one, according to iPropertyManagement.com*:
“As the bulk of existing residential properties in the United States ages, new construction struggles to keep up with increasing demand. In this housing market, the business of the upkeep, maintenance, and improvement of existing properties flourishes. Home improvement spending still outpaces home maintenance spending.”
Does this mean it’s time for you to look into home improvement franchises?
Data Is Important
While statistics and data are crucial to a well-informed decision-making process, they aren’t the end all. Things can and do change.
That said, big decisions-like buying a franchise, need to be made carefully. One way to do that involves getting out in the field. In this case, it’s talking and visiting with current franchise owners (franchisees) who are doing what you may be interested in doing.
Home Improvement Franchise Opportunities
So what types of franchise opportunities are available in the home improvement sector?
Indoor Decorating Franchises
The home décor market is huge.
And as I know from experience, a lot of money is spent by consumers, especially when they move to a new home.
For example, the home we moved into 3 years ago had no window coverings. Obviously, we couldn’t have that.
A few weeks and several thousand dollars later, we had beautiful blinds installed throughout our entire home.
To that end, there are several franchise opportunities available...most of them home-based, that offer window covering sales and installation. It’s big business.
Speaking of big, it’s common knowledge that next to kitchens, bathroom remodels offer the biggest bang for the buck when it comes to selling a home.
That’s why there are more than a few franchises that provide products and services designed to spiff things up in your bathrooms.
For example, if your bathtub needs to be refinished-or even replaced, a quick search on the internet will instantly showcase several local franchises in your area that specialize in those two things.
Finally, if your kitchen is outdated, local franchisees in your area offer everything from new kitchen cabinets (or refacing) to flooring and tile.
FYI: According to HomeAdvisor, on average, consumers spend between $13,158 and $37,003 to remodel their kitchens.
Outdoor Home Improvement Franchises
There are dozens of franchises that specialize in repairing and remodeling a home’s exterior and surrounding space. These include:
1. Deck franchises
Franchisees (and their employees) design and build decks, sunrooms, and gazebos. In addition, there are other add-on services offered such as deck refinishing and staining.
2. Concrete franchises
Franchises in this segment generally aren’t as well-known as some of the other home improvment businesses, but that shouldn’t stop you from investigating them.
Several opportunities exist in this space that involve things like concrete patio installation, sidewalk-leveling, and custom concrete stamping and staining.
3. Mobility franchises
As our senior population continues to grow, there’s an increased need for solutions that can help keep seniors mobile, especially in their homes and apartments.
Accordingly, businesses that offer products that are designed to do just that continue to pop up. And a good portion of these are franchise businesses.
As a franchisee, you would be selling and installing things like wheelchair ramps, stairlifts, and custom railing. But you wouldn’t only be installing these mobility products in homes.
That’s because one of the provisions of the Americans with Disabilities Act (ADA) directs businesses to make “reasonable modifications” to their usual ways of doing things when serving people with disabilities. That opens the door for franchisees to participate in the commercial market. Think restaurants, hotels, shopping centers and more.
As you can see, today’s home improvement franchises come in all shapes and sizes. But is a franchise in the home improvement area right for you?
For the answer, request information from a few franchises that look interesting, and arrange a call with their franchise development team.