How Much Demand Is There For Kitchen Renovation Franchises?
Learn about the business landscape of home remodeling right now and discover how much demand there currently is for kitchen renovation franchises.
Demand For Kitchen Renovation Franchises Has Surged In Recent Years.
Several months into 2020, many people were worried about the prospects for kitchen renovation franchises, and the business of home remodeling more generally. At that point, nobody knew how long the Covid-19 pandemic would last, nor were we sure what locations and what activities were the riskiest with regards to contracting the virus. At a time when most people did not want anybody else in their homes, it was difficult to see where the demand for home renovation and remodeling would come from.
Thankfully, we can now say that, at least in terms of home remodeling, the worst of our fears came nowhere near to being true. First, responsible home and kitchen renovation franchises learned how they could continue their work in a way that kept them and their staff safe, as well as their clients. Second, people spending so much time at home proved to be a great boon for the renovation business. If you were already tired of your kitchen, staring at it for hours every day would only make you likelier to finally act and hire somebody to renovate it.
How Much Has Demand Grown For Kitchen Renovations?
According to the annual Houzz & Home survey, home remodeling spending has grown by 15% over the past year. The median figure for a renovation is $15,000 and the top 10% of projects now have an average of $85,000. With property prices surging around much of the US, many people have decided to reinvest some of that home equity into renovations. Furthermore, it can be really hard to find a home, so many families have simply decided to renovate the one they have.
Kitchens Remain The Most Popular Room To Renovate.
Kitchens have typically been the most popular place for home renovation and that trend has continued. Investment on major remodels of kitchens alone have increased 14% over the same period. It’s difficult to think of a time when there has been greater demand for kitchen renovation franchises.
Kitchen Solvers Has Some Of The Most Successful Kitchen Renovation Franchises Around.
At Kitchen Solvers, we are always looking for qualified candidates to work with us heading up one of our kitchen and bathroom renovation franchise locations. To learn more about what we do, or the kitchen renovation business more generally, you can visit our blog or if you have any other questions or would like to begin the process of becoming a franchise partner, please do not hesitate to get in touch with us.