Why The Best Home Services Franchise Opportunities Focus On The Kitchen And Bathroom
Home services franchise opportunities have to offer aspiring entrepreneurs a lot. They exist in a high-demand industry and they can be very emotionally rewarding. But not all home décor franchise opportunities are equal.
Home Services Franchises Have A Lot Of Demand For Their Work. There Is Plenty Of Opportunity To Succeed With The Right Home Service Franchise.
Generally speaking, fewer markets have offered such remarkable growth over the past decade as the home remodeling and renovation market. Of course, COVID-19 disrupted the market, but it actually demonstrated that home service and remodeling was a stronger market than many even thought.A record-setting housing market, a buildup of discretionary income, and people being stuck at home all worked to create a surge in the market. Strong home sales and record home values didn’t hurt either. And these trends have continued into 2021.
What Are The Projected Opportunities For Growth For Home Service Franchises Going Forward?
Forecasts suggest2021 will be another “great year” for the home remodeling and replacement industry compared. The number of professionally done remodeling projects worth $1,000 or more completed in 2020 was 14.4 million, which represents a 9.9% increase on 2019’s number. For 2021, the same number is expected to rise to 15.5 million. And this growth is not geographically limited; 381 metropolitan statistical areas are forecasted to see growth in annual project volume in 2021, at a predicted average growth of 6.3%. While this growth is likely to plateau a bit in 2022, long-term trends still suggest sustained growth going into 2023 and beyond.
The Remodeling Market Is Active And Growing. But Why Should A Home Service Franchise Focus Specifically On Kitchens And Bathrooms?
The entire market is growing, so why does it matter what kind of remodels your home service franchise does? It matters because clients are far likelier to want some rooms remodeled than others. If you buy a home service franchise that is specifically known for their work in kitchens and bathrooms, you’ll have more opportunities for success.
The kitchen and bathroom industry alone is valued at $158.6 billion. A big reason for that number is that a whopping 83% of homeowners who purchased a new home in 2020 did home improvements, 33% in the kitchen. Furthermore, kitchen remodels often cross the threshold into “big ticket” remodels. Average kitchen remodels range from $23,452 – $68,490.
Contact Kitchen Solvers To Learn More About An Excellent Home Décor Franchise Opportunity.
To learn more about kitchen and bathroom remodels, please visit our blog. At Kitchen Solvers, we are always looking for qualified candidates to become one of our franchise partners. To learn more, please get in touch with us .
Back
