The Business Opportunities Of Cabinetry
In this article, we look at what kinds of business opportunities for cabinet shops are out there and how you can capitalize on those opportunities.
Business Opportunity For Cabinet Shop
Owning a cabinetry business is an opportunity to own a remarkably profitable business. Home renovation is huge right now. It started with the Covid-19 pandemic. Very high property values in much of the country and low interest rates allowed Americans to borrow money for home improvement projects. And they could put their own money towards it that they might have spent on a vacation had it not been for Covid.
Furthermore, many Americans had and still have limited options when it comes to finding new homes, so they’re more inclined to revamp their current home. And this idea has only been encouraged by social media trends displaying new aesthetics and home fashions. These factors caused a surge in demand for home remodels—demand that was already pretty high—and that continues.
Higher interest rates will cause a slight tail-off in the growth of remodel demand, according to the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University, who recently released their Leading Indicator of Remodeling Activity, or LIRA. The report predicted that expenditures for improvements and repairs to the owner-occupied housing stock will grow throughout 2022 and into early 2023, but at a decelerated pace. And much of this continued growth will involve a demand for cabinetry.
Cabinet Shops Deal In Kitchens And Bathrooms A Lot – Hot Spots For Remodeling.
Remodeling a kitchen or bathroom almost always involves replacing or updating cabinetry. These two rooms are the bread and butter of cabinet shops. And this is fortunate because kitchens and bathrooms might just undergo remodels at higher rates than any other rooms.
There are a few possible explanations for this, but largely it probably comes down to practical considerations. Kitchens and bathrooms are often more heavily trafficked and used than other rooms. And there’s a lot that of wear and tear that kitchens and bathrooms undergo, from steam to cooking splatter and more. And the last reason comes down to cabinetry itself.
Of all the possible types of remodels, cabinets are relatively easy. You probably won’t have to tear apart an entire room to install some cabinets. And different cabinetry options make kitchen and bathroom remodels fun and visually pleasing.
Kitchen Solvers Offers Amazing Business Opportunities For Cabinet Shops.
At Kitchen Solvers, we are always looking for opportunities to work with qualified candidates as one of our cabinet shop franchise partners. If you would like to learn more about our cabinet shop business opportunities, please do not hesitate to get in touch with us.
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