The Outlook For The Cabinet Business In 2021

The Outlook For The Cabinet Business In 2021

2020 was a tough year for everybody. It was harder for some than others. The same is true for businesses. How did the cabinet business fair in 2020 and what will 2021 have in store?

Running A Cabinet Business In A Pandemic

With a few notable exceptions, the majority of businesses around the world took a hit in 2020. A global pandemic will do that. Some sectors such as tourism, hospitality, and restaurants, were clearly hard hit. The cabinet business is a less-cited example, but when you think of it, there are obvious struggles. What is one thing we’ve all been cautioned against doing? Inviting people from outside our homes into them. And while much of the process can be done outside of the home, it’s a requirement for a cabinet business to enter the home for installation.Some people just aren’t comfortable inviting workers into their homes right now and have so postponed their kitchen or bathroom remodeling plans. Other folks are comfortable with the idea, but only if certain precautions are taken, such as wearing masks, blocking off the work area, and keeping social distancing top of mind during the time of installation.

Independent Cabinet Businesses Vs. Cabinet Business Franchises In 2020 & 2021

Trust has always been a major facet of the cabinet business. Who do you trust to do a good job? Who do you trust to remodel your home? In 2020, a new question was introduced: who do you trust to keep you safe from a serious virus? If you run an independent cabinet business, you might be great at all these things, but if somebody doesn’t know you personally, how will they know to hire you? Here we see yet another advantage of owning a cabinet business franchise. As the owner of a cabinet business franchise, your clients don’t need to know you at all to hire you as long as they trust the brand name under which you operate. Cabinet business franchisors can also synthesize the experience of all their franchisees to figure out what works and suggest which practices and personal protective equipment their franchisees should use to keep everybody safe.

The Outlook For Cabinet Business Franchises In 2021

In early 2020, mortgage refinance applications surged 79% of the previous year’s number as homeowners looked to take advantage of lower rates. People have been stuck in their homes a lot more than anticipated, looking at outdated cabinets that no longer bring them joy. A lot of people are moving, often to get away from densely populated urban cores. While the pandemic will still be factor for part or all of 2021, all the indicators are there for a rise in demand for cabinet business franchises.

Kitchen Solvers Franchise

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Kitchen Solvers Franchise Ownership

  • $1,814,482

    Average Revenue of Top-Third

  • 36%

    Average Materials Expenses

  • 24%

    Average Installation Expenses

  • 40%

    Average Gross Profit Margins

  • 21

    Average Number of Jobs

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