Why The Home Remodeling Business Is Thriving (Especially When It Comes To Kitchens)
Did you know that home remodeling franchise businesses are thriving right now? This article will explore the recent successes of home remodeling businesses.
Home Remodeling Franchise Businesses Are Flourishing In 2021.
Over the past couple of years, we have seen some individual businesses, and even entire industries, struggle and others thrive. The principal factor in these big changes in the economic landscape is, of course, the Covid-19 pandemic. The home remodeling franchise business has been one of those to have boomed in recent times. But just how well are remodeling franchises doing?
What Are The Key Figures Regarding Growth In The Home Remodeling Sector?
The tenth annual Houzz & Home survey was returned by 70,000 respondents in the United States. The results of the survey are quite remarkable. Home remodeling spending has grown 15% in the last year, reaching a median figure of $15,000. But that’s just the median. Where higher-budget projects are concerned—those within the top 10% of project spending—there was an increase from $80,000 to $85,000. What accounts for this growth?
Why Has Home Remodeling Increased Over The Pandemic?
While nobody will argue that the pandemic has been a good thing, there have been silver linings. For home remodeling franchises, that silver lining has been quite prominent. After a few initial months of fear and uncertainty of inviting remodelers into their homes, by about the midpoint of 2020, homeowners developed a strong appetite for renovations. As we all spent more time at home, people wanted to make their homes more enjoyable. For homeowners with the means to do so, the pandemic, somewhat counterintuitively, became the perfect time to do that remodel they had been putting off. Furthermore, increased remodeling content on social media seemed to spur people on to have their own remodels done.
What Has Been The Most Remodeled Area Of The Home During The Pandemic?
Kitchens were clearly the most popular rooms to remodel. Investment on major remodels of large kitchens increased by 14% to an approximate total of $40,000 in 2020. According to the survey, the remodeling boom is set to continue, with 56% of homeowners planning to renovate within the next year.
Kitchen Solvers Delivers Elite Service In The Home Remodeling Sphere.
At Kitchen Solvers, we are always looking for qualified candidates to own one of our home remodeling franchise businesses. To learn more about what we do or the home remodeling business more generally, you can visit our blog, or if you have any specific questions or would like to begin the process of becoming a franchise partner, please do not hesitate to get in touch with us.