A strong economy is one reason why the trend in home improvement is expected to continue. Another key reason, as highlighted by iPropertyManagement.com, is that as existing homes in the U.S. age, new construction can’t keep up with increasing demand. This leads to a flourishing market for maintaining and improving existing properties. Spending on home improvement even surpasses expenditure on home maintenance.
You might be wondering if it’s time to consider investing in home improvement franchises. While data and statistics are essential to making informed decisions, they aren’t everything. The market can change, and big decisions, like buying a franchise, need careful consideration. One effective way to evaluate this is by talking to current franchisees who are already in the business you’re interested in.
### Home Improvement Franchise Opportunities
#### Indoor Decorating Franchises
The home décor market is enormous, and consumers, especially new homeowners, spend significantly on it. For example, we had to invest several thousand dollars in window coverings after moving into our new home three years ago. There are plenty of franchise opportunities, often home-based, that offer window covering sales and installation—it’s a lucrative business.
Bathroom and kitchen remodels are also major areas where money is spent, particularly because these upgrades provide a high return on investment when selling a home. Franchises in these sectors may include services like bathtub refinishing and replacement, kitchen cabinet upgrades, flooring, and tile installations. According to HomeAdvisor, the average cost of a kitchen remodel ranges from $13,158 to $37,003.
#### Outdoor Home Improvement Franchises
There are numerous franchises that focus on the exterior of homes and surrounding spaces. These include:
1. **Deck Franchises**: These franchisees design and build decks, sunrooms, and gazebos, often offering additional services like deck refinishing and staining.
2. **Concrete Franchises**: These businesses might not be as well-known but offer services like concrete patio installation, sidewalk leveling, and custom concrete stamping and staining.
3. **Mobility Franchises**: With the growing senior population, there’s a rising need for mobility solutions in homes. These franchises sell and install products like wheelchair ramps, stairlifts, and custom railings. They also cater to businesses needing to comply with the Americans with Disabilities Act (ADA), serving commercial markets such as restaurants, hotels, and shopping centers.
Today’s home improvement franchises come in many forms. To determine if this is the right fit for you, reach out to a few franchises that interest you and arrange discussions with their franchise development teams.
