Housing Trends Are Increasing the Value of Home Remodeling Franchise Opportunities in 2020
What’s got everybody talking about home remodeling franchise opportunities in 2020?
A quick Google query for “home remodeling franchise opportunities” yields 6.3-million results in under a single second, but few of them can explain the surge in remodeling business activity this year.
Today’s post has the answers. Read on for a review of new research and learn how current housing trends are ramping up the value of home remodeling franchise opportunities
Housing Research Shows Value Of Remodeling Franchise Opportunities In 2020
A report by the Joint Center for Housing Studies of Harvard University indicated that homeowners spent $339 billion on remodeling in the first quarter of 2019 alone. This figure represents a 7% increase over remodeling spending in 2018. By the second quarter, homeowners spent another $345 billion, up 6.9% from last year.
Though this growth is projected to cool slightly in 2020, the total amount spent on home remodeling is still expected to increase. According to Reuters projections, spending on home remodeling will reach $347-billion, or 2.6% growth, by the first quarter of 2020.
And while a 2.6% increase might not seem very impressive, especially considering remodeling growth has steadily risen by more than 5% since 2013, this increase still bodes well for home remodeling franchise opportunities. After all, this 2.6% uptick continues to build on historical highs. In other words, 2020 is still going to be a record year for the home remodeling industry, even if fewer people recognize it as such.
A closer look at the Residential Remodeling Index (RRI) shows that the future is bright. The RRI is based on a statistical model that factors in data like household-level remodeling permits, employment statistics, market economic health, and more, all of which has been linked to remodeling activity.
RRI analysis shows that, absent a trade war, spiraling inflation, or some other geo-political crisis that sends the economy plummeting, the remodeling industry is poised for strong growth through 2021. According to Metrostudy’s latest release of the RRI, economic conditions known to influence remodeling activity are 16.7% higher than historical peak levels recorded in 2007, just before the Great Recession hit. Though we can expect more moderate increases in 2020 due to the maturation of the housing cycle, the RRI shows year-over-year growth in remodeling for the 29th consecutive year.
Explore Home Remodeling Franchise Opportunities Near You
Now you know: 2020 is a great year to get started with your home remodeling business.
But before you sign on the dotted line, take a moment to consider how our home remodeling franchise opportunities stack up against the competition.
The Kitchen Solvers franchise package includes:
- Complete training in marketing, sales, installation, business management, website operation, and more
- Ongoing coaching and employee development
- An established community of franchise owners to support you every step of the way
- Option of showroom or home-based model
- Platinum sales process
- Access to a proven, cash-based business model
- Complete start-up package, including state-of-the-art marketing software, equipment, and grand opening advertising materials
- Exclusive rights to protected territories
Call 608-615-7399 or visit the Kitchen Solver’s Contact Page to book a free consultation with a member of our team and get all your questions answered.
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